Bluescape holder of Riley Exploration (REPX) sells 882,346 common shares in market

Rhea-AI Filing Summary

Riley Exploration Permian, Inc. reported that affiliated holder Bluescape Riley Exploration Holdings LLC, a more than 10% owner, sold a total of 882,346 shares of common stock in open-market transactions on March 5 and March 6.

The March 5 sale covered 391,913 shares at a weighted average price of $31.7552 per share, with trades ranging from $29.68 to $32.80. The March 6 sale covered 490,433 shares at a weighted average price of $32.7967 per share, with trades ranging from $32.05 to $33.395.

The reported securities are held directly by Bluescape Riley Exploration Holdings LLC. Other Bluescape-related entities and C. John Wilder Jr. are listed as reporting persons but state that they disclaim beneficial ownership except to the extent of any pecuniary interest.

Insights

Equity ownership and governance analyst

A large affiliated holder executed open‑market sales totaling 882,346 REPX shares.

The filing shows that Bluescape Riley Exploration Holdings LLC, a more than 10% holder of Riley Exploration Permian, sold 391,913 shares on March 5 at a weighted average of $31.7552 and 490,433 shares on March 6 at a weighted average of $32.7967. Both are coded as open-market sales of common stock.

The securities are held directly by Bluescape Riley Exploration Holdings LLC, while several related Bluescape entities and C. John Wilder Jr. are also reporting persons. Footnotes state layered ownership relationships and that these other parties disclaim beneficial ownership except for any pecuniary interest, which means economic exposure may be spread across the structure.

After the March 5 trades, Bluescape Riley Exploration Holdings LLC reported owning 2,559,053 shares, and after the March 6 trades it reported 2,068,620 shares. The filing does not state what proportion of Riley Exploration Permian’s total shares this represents, so the ultimate impact on overall ownership structure would be assessed using additional share count information from other company disclosures.

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

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)
03/05/2026

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	03/05/2026		S		391,913	D	$31.7552(1)	2,559,053	D(3)(4)(5)(6)
Common Stock	03/06/2026		S		490,433	D	$32.7967(2)	2,068,620	D(3)(4)(5)(6)

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 March 5th price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $29.68 to $32.80, 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) and (2) to this Form 4.

2. The March 6th price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $32.05 to $33.395, inclusive.

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

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

5. 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.

6. 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.

Remarks:

	C. John Wilder, Jr.	03/06/2026
	Jonathan Siegler	03/06/2026
	Jonathan Siegler	03/06/2026
	Jonathan Siegler	03/06/2026
	C. John Wilder, Jr.	03/06/2026
	C. John Wilder, Jr.	03/06/2026
	** Signature of Reporting Person	Date
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FAQ

What insider transaction did REPX report for Bluescape Riley Exploration Holdings LLC?

Riley Exploration Permian reported that Bluescape Riley Exploration Holdings LLC, a more than 10% holder, sold 882,346 common shares in open-market transactions on March 5 and March 6, 2026. These sales were executed at weighted average prices around the low-$30 range per share.

At what prices were the recent REPX insider share sales executed?

The March 5 sale of 391,913 Riley Exploration Permian shares used a weighted average price of $31.7552, with trades between $29.68 and $32.80. The March 6 sale of 490,433 shares used a weighted average price of $32.7967, with trades between $32.05 and $33.395.

How many Riley Exploration Permian shares does Bluescape Riley Exploration Holdings LLC hold after the sales?

After selling 391,913 shares on March 5, Bluescape Riley Exploration Holdings LLC reported holding 2,559,053 Riley Exploration Permian shares. Following the additional 490,433-share sale on March 6, its reported holdings declined further to 2,068,620 shares of common stock.

Who is identified as directly holding the REPX shares involved in these Form 4 transactions?

The Form 4 states the reported Riley Exploration Permian securities are held directly by Bluescape Riley Exploration Holdings LLC. Other Bluescape-related funds and entities, and C. John Wilder Jr., are reporting persons but they disclose layered ownership relationships and disclaim beneficial ownership except for any pecuniary interest.

Do the Bluescape-related reporting persons claim full beneficial ownership of the REPX shares?

No. The filing explains that, except for Bluescape Riley Exploration Holdings LLC, each reporting person states the filing is not an admission of beneficial ownership. All reporting persons, including that entity, disclaim beneficial ownership except to the extent of any pecuniary interest in the Riley Exploration Permian shares.

What role does C. John Wilder Jr. play in the entities linked to these REPX shares?

The filing notes that C. John Wilder Jr. has power to direct the affairs of Bluescape Resources Company LLC as its Executive Chairman. Bluescape Resources owns the membership interests of upstream entities that ultimately control Bluescape Riley Exploration Holdings LLC, which directly holds the Riley Exploration Permian shares.