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

Rhea-AI Filing Summary

Riley Exploration Permian, Inc. (REPX) insiders filed a Form 4 disclosing a sale of common stock. On 09/29/2025, Bluescape Riley Exploration Holdings LLC reported the disposition of 1,798 shares at a weighted average price of $28.0299 per share. After the sale, the reporting holder is shown as beneficially owning 4,384,853 shares, held directly by Bluescape Riley Holdings.

The filing identifies a chain of related reporting persons and ownership: Bluescape Energy Recapitalization & Restructuring Fund III LP owns 90.06% of Bluescape Riley Holdings, with several Bluescape entities and C. John Wilder Jr. noted as connected parties. The filing includes a standard disclaimer that most reporting persons disclaim beneficial ownership except for pecuniary interest.

Positive

• Transparent disclosure of the sale transaction including weighted-average price range and residual holdings
• Clear mapping of the ownership chain among Bluescape entities and identification of the controlling executive

Negative

• Insider sale of 1,798 shares on 09/29/2025 at a weighted average price of $28.0299
• Potential ambiguity because reporting persons disclaim beneficial ownership except for pecuniary interest (limits clarity on economic vs. voting control)

Insights

Financial Analyst

TL;DR: A small disclosed insider sale with large residual holdings; no indication of material change to ownership stake.

The Form 4 reports a modest sale of 1,798 shares at a weighted average price of $28.0299, leaving a reported holding of 4,384,853 shares held by Bluescape Riley Holdings. The transaction size is small relative to the remaining position reported, suggesting limited immediate impact on ownership concentration or control. The filing properly discloses the multi-entity ownership chain, which helps investors trace voting and economic interests.

Corporate Governance Expert

TL;DR: Disclosure is thorough; interconnected entity structure is clearly documented, with appropriate disclaimers.

The Form 4 lists multiple related reporting persons and describes their ownership relationships and control links up to Mr. C. John Wilder, Jr. The explanatory footnotes clarify the weighted-average sale price range and the distribution of membership interests. The inclusion of disclaimers by the reporting persons is standard and confirms that most parties are not claiming direct beneficial ownership beyond pecuniary interest.

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)
09/29/2025

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	09/29/2025		S		1,798	D	$28.0299(1)	4,384,853	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 $28.11, 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 range set forth in this footnote.

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.

	BLUESCAPE RILEY EXPLORATION HOLDINGS LLC, By: /s/ Jonathan Siegler, Name: Jonathan Siegler, Title: Managing Director and Chief Financial Officer	10/01/2025
	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	10/01/2025
	BLUESCAPE ENERGY PARTNERS III GP LLC, By: /s/ Jonathan Siegler, Name: Jonathan Siegler, Title: Managing Director and Chief Financial Officer	10/01/2025
	BLUESCAPE RESOURCES GP HOLDINGS LLC, By: /s/ Jonathan Siegler, Name: Jonathan Siegler, Title: Managing Director and Chief Financial Officer	10/01/2025
	BLUESCAPE RESOURCES COMPANY LLC, /s/ C. John Wilder, Jr., Name: C. John Wilder, Jr., Title: Executive Chairman	10/01/2025
	/s/ C. John Wilder, Jr.	10/01/2025
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What transaction is reported on the Form 4 for Riley Exploration Permian, Inc. (REPX)?

The Form 4 reports a sale of 1,798 common shares on 09/29/2025 at a weighted average price of $28.0299 per share.

How many REPX shares does Bluescape Riley Holdings report owning after the sale?

Following the reported transaction, Bluescape Riley Holdings reports beneficial ownership of 4,384,853 shares.

Which entities are listed as reporting persons on the Form 4 for REPX?

Reporting persons include Bluescape Riley Exploration Holdings LLC, Bluescape Energy Recapitalization & Restructuring Fund III LP, Bluescape Energy Partners III GP LLC, Bluescape Resources GP Holdings LLC, Bluescape Resources Company LLC, and C. John Wilder, Jr.

What ownership relationship is disclosed between the Bluescape entities?

The filing states that Bluescape Energy Recapitalization and Restructuring Fund III LP owns 90.06% of Bluescape Riley Holdings and describes a chain of ownership and control through the listed Bluescape entities to Mr. C. John Wilder, Jr.

Does the Form 4 indicate whether the reporting persons claim beneficial ownership?

Yes. Except for Bluescape Riley Holdings, the reporting persons state they disclaim beneficial ownership