<SEC-DOCUMENT>0001415889-25-009758.txt : 20250402
<SEC-HEADER>0001415889-25-009758.hdr.sgml : 20250402
<ACCEPTANCE-DATETIME>20250402180322
ACCESSION NUMBER:		0001415889-25-009758
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250331
FILED AS OF DATE:		20250402
DATE AS OF CHANGE:		20250402

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Hargrave Marjorie Anne
		CENTRAL INDEX KEY:			0001783211
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34743
		FILM NUMBER:		25806599

	MAIL ADDRESS:	
		STREET 1:		999 18TH STREET
		STREET 2:		SUITE 1925N
		CITY:			DENVER
		STATE:			CO
		ZIP:			80202

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HALLADOR ENERGY CO
		CENTRAL INDEX KEY:			0000788965
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				841014610
		STATE OF INCORPORATION:			CO
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1183 EAST CANVASBACK DRIVE
		CITY:			TERRE HAUTE
		STATE:			IN
		ZIP:			47802
		BUSINESS PHONE:		303-839-5504

	MAIL ADDRESS:	
		STREET 1:		1183 EAST CANVASBACK DRIVE
		CITY:			TERRE HAUTE
		STATE:			IN
		ZIP:			47802

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HALLADOR PETROLEUM CO
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KIMBARK OIL & GAS CO /CO/
		DATE OF NAME CHANGE:	19900102

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KIMBARK INC
		DATE OF NAME CHANGE:	19860624
</SEC-HEADER>
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<TYPE>4
<SEQUENCE>1
<FILENAME>form4-04022025_100418.xml
<TEXT>
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    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-03-31</periodOfReport>

    <issuer>
        <issuerCik>0000788965</issuerCik>
        <issuerName>HALLADOR ENERGY CO</issuerName>
        <issuerTradingSymbol>HNRG</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001783211</rptOwnerCik>
            <rptOwnerName>Hargrave Marjorie Anne</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1183 EAST CANVASBACK DRIVE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>TERRE HAUTE</rptOwnerCity>
            <rptOwnerState>IN</rptOwnerState>
            <rptOwnerZipCode>47802</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>true</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle>Chief Financial Officer</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-03-31</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
                    <value>30267</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>12.28</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
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                    <value>30267</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
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                <natureOfOwnership>
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            </ownershipNature>
        </nonDerivativeTransaction>
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    <derivativeTable>
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                <equitySwapInvolved>0</equitySwapInvolved>
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                    <value>6916</value>
                    <footnoteId id="F2"/>
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                <transactionPricePerShare>
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                <transactionAcquiredDisposedCode>
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            <expirationDate>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
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        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Restricted Stock Unit</value>
                <footnoteId id="F3"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F3"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2025-03-31</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
                    <value>23351</value>
                    <footnoteId id="F3"/>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F3"/>
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                <transactionAcquiredDisposedCode>
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            <exerciseDate>
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                <underlyingSecurityTitle>
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                <sharesOwnedFollowingTransaction>
                    <value>46702</value>
                </sharesOwnedFollowingTransaction>
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                <directOrIndirectOwnership>
                    <value>D</value>
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    <footnotes>
        <footnote id="F1">Each Restricted Stock Unit represents a contingent right to receive one share of Hallador Energy Common Stock. Vested shares will be delivered to the reporting person pursuant to the terms of the Amended and Restated 2008 RSU Plan.</footnote>
        <footnote id="F2">Each Restricted Stock Unit awarded on April 10, 2024, represents a contingent right to receive one share of Hallador Energy Common Stock. Vested shares will be delivered to the reporting person pursuant to the terms of the Amended and Restated 2008 RSU Plan.</footnote>
        <footnote id="F3">Each Restricted Stock Unit awarded on September 6, 2024, represents a contingent right to receive one share of Hallador Energy Common Stock. Vested shares will be delivered to the reporting person pursuant to the terms of the Amended and Restated 2008 RSU Plan.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Marjorie Hargrave</signatureName>
        <signatureDate>2025-04-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
