[Form 4] Riley Exploration Permian, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Riley Exploration Permian, Inc. (REPX) insiders from Bluescape disclosed a series of open-market sales of common stock across September 23–25, 2025. The reporting entities—Bluescape Riley Exploration Holdings LLC and related Bluescape affiliates, with C. John Wilder, Jr. identified as Executive Chairman—reported three disposals totaling 135,116 shares at weighted-average prices of approximately $28.16, $28.25 and $28.09, with price ranges noted in the filing.

After the transactions the reported beneficial ownership held by the reporting group declined from 4,493,185 shares (after the first reported sale) to 4,386,651 shares (following the last reported sale). The filing notes that most holdings are held indirectly through a chain of Bluescape entities and includes the customary disclaimer that, except for Bluescape Riley Holdings, the other reporting persons disclaim beneficial ownership except to the extent of pecuniary interest. The Form 4 is signed and dated 09/25/2025.

Positive

• Transparent disclosure of three open-market sales with weighted-average prices and price ranges provided
• Detailed ownership chain included, clarifying indirect holdings through Bluescape entities
• Form properly signed by authorized representatives and dated 09/25/2025

Negative

• Material insider sales totaling 135,116 REPX shares over three days
• Reported beneficial ownership declined from 4,493,185 to 4,386,651 shares following transactions

Insights

Securities Analyst

TL;DR: Reporting group sold 135,116 REPX shares over three days, reducing reported beneficial ownership to 4,386,651 shares.

The filing documents executed open-market disposals coded as "S" on 09/23–09/25/2025 totaling 135,116 common shares at weighted-average prices around $28.16–$28.25. The reported post-transaction ownership figures move from 4,493,185 to 4,386,651 shares, showing a net reported decline of 106,534 shares between the first and last reported post-transaction balances. The disclosure is explicit about the indirect ownership structure through multiple Bluescape entities and includes weighted-price ranges to clarify execution pricing. For investors, this is a transparent insider sale disclosure but contains no operational or financial performance data.

Corporate Governance Expert

TL;DR: Form 4 properly discloses director-level sales and clarifies the multi-entity ownership structure and signatories.

The filing identifies the reporting persons as directors and 10% owners and traces control through Bluescape entities to Executive Chairman C. John Wilder, Jr. The inclusion of weighted-average price ranges and an undertaking to provide per-price breakdowns on request strengthens the record-keeping and compliance posture. Signatures from authorized representatives and dated execution (09/25/2025) are present. The filing also contains standard disclaimers about beneficial ownership for related entities. This is a routine, compliant insider transaction disclosure rather than a governance event implying control change.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Bluescape Riley Exploration Holdings LLC

(Last) (First) (Middle)

300 CRESCENT COURT, STE. 1860

(Street)

DALLAS TX 75201

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Riley Exploration Permian, Inc. [ REPX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/23/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/23/2025		S		28,582	D	$28.1625(1)	4,493,185	D(2)(3)(4)(5)
Common Stock	09/24/2025		S		78,534	D	$28.2465(6)	4,414,651	D(2)(3)(4)(5)
Common Stock	09/25/2025		S		28,000	D	$28.0866(7)	4,386,651	D(2)(3)(4)(5)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

Bluescape Riley Exploration Holdings LLC

(Last) (First) (Middle)

300 CRESCENT COURT, STE. 1860

(Street)

DALLAS TX 75201

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Bluescape Energy Recapitalization & Restructuring Fund III LP

(Last) (First) (Middle)

300 CRESCENT COURT, STE. 1860

(Street)

DALLAS TX 75201

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Bluescape Energy Partners III GP LLC

(Last) (First) (Middle)

300 CRESCENT COURT, STE. 1860

(Street)

DALLAS TX 75201

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Bluescape Resources GP Holdings LLC

(Last) (First) (Middle)

300 CRESCENT COURT, STE. 1860

(Street)

DALLAS TX 75201

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Bluescape Resources Co LLC

(Last) (First) (Middle)

300 CRESCENT COURT, STE. 1860

(Street)

DALLAS TX 75201

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

WILDER C JOHN

(Last) (First) (Middle)

300 CRESCENT COURT, STE. 1860

(Street)

DALLAS TX 75201

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $28.00 to $28.37, inclusive. The reporting persons undertake to provide to Riley Exploration Permian, Inc. (the "Issuer"), any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (1), (6) and (7) to this Form 4.

2. The reported securities are held directly by Bluescape Riley Exploration Holdings LLC ("Bluescape Riley Holdings").

3. Bluescape Energy Recapitalization and Restructuring Fund III LP owns 90.06% of the membership interests of Bluescape Riley Holdings.

4. Bluescape Energy Partners III GP LLC is the general partner of Bluescape Energy Recapitalization and Restructuring Fund III LP. Bluescape Resources GP Holdings LLC owns 100% of the membership interests of Bluescape Energy Partners III GP LLC. Bluescape Resources Company LLC ("Bluescape Resources") owns 100% of the membership interests of Bluescape Resources GP Holdings LLC. Mr. C. John Wilder, Jr. has the power to direct the affairs of Bluescape Resources as its Executive Chairman.

5. Each reporting person, with the exception of Bluescape Riley Holdings, states that neither the filing of this statement nor anything herein shall be deemed an admission that it is, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise, the beneficial owner of these securities. Each reporting person, including Bluescape Riley Holdings, disclaims beneficial ownership of these securities, except to the extent of such reporting person's pecuniary interest in such securities.

6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $28.00 to $28.435, inclusive.

7. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $28.00 to $28.36, inclusive.

	BLUESCAPE RILEY EXPLORATION HOLDINGS LLC, By: /s/ Jonathan Siegler, Name: Jonathan Siegler, Title: Managing Director and Chief Financial Officer	09/25/2025
	BLUESCAPE ENERGY RECAPITALIZATION AND RESTRUCTURING FUND III LP, By: Bluescape Energy Partners III GP LLC, its general partner, By: /s/ Jonathan Siegler, Name: Jonathan Siegler, Title: Managing Director and Chief Financial Officer	09/25/2025
	BLUESCAPE ENERGY PARTNERS III GP LLC, By: /s/ Jonathan Siegler, Name: Jonathan Siegler, Title: Managing Director and Chief Financial Officer	09/25/2025
	BLUESCAPE RESOURCES GP HOLDINGS LLC, By: /s/ Jonathan Siegler, Name: Jonathan Siegler, Title: Managing Director and Chief Financial Officer	09/25/2025
	BLUESCAPE RESOURCES COMPANY LLC, /s/ C. John Wilder, Jr., Name: C. John Wilder, Jr., Title: Executive Chairman	09/25/2025
	/s/ C. John Wilder, Jr.	09/25/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What insider transactions were reported for Riley Exploration Permian (REPX)?

The filing reports three open-market sales of REPX common stock on 09/23/2025, 09/24/2025 and 09/25/2025 totaling 135,116 shares.

How many REPX shares does the Bluescape reporting group own after these trades?

Following the reported transactions the group reported beneficial ownership of 4,386,651 shares.

What prices were the REPX shares sold at in the Form 4?

The filing lists weighted-average prices of approximately $28.1625, $28.2465, and $28.0866, with disclosed price ranges for the individual executions.

Who authorized and signed the Form 4 for these REPX transactions?

The Form 4 is signed by authorized representatives of the Bluescape reporting persons, including Jonathan Siegler and C. John Wilder, Jr., dated 09/25/2025.

Do the reporting persons claim direct beneficial ownership of the shares?

The filing states that, except for Bluescape Riley Holdings, the other reporting persons disclaim beneficial ownership except to the extent of a pecuniary interest; most holdings are held indirectly through Bluescape entities.