Bluescape entity trims Riley Exploration (REPX) stake with 5,256-share sale

Rhea-AI Filing Summary

Riley Exploration Permian, Inc. had a large shareholder group affiliated with Bluescape report an open-market sale of common stock. The reported transaction shows Bluescape Riley Exploration Holdings LLC sold 5,256 shares at a weighted average price of $28.3815 per share on February 23.

After this sale, Bluescape Riley Exploration Holdings LLC reported holding 3,032,653 shares of Riley Exploration Permian common stock. Other related Bluescape entities and C. John Wilder Jr. are listed as reporting persons but each disclaims beneficial ownership beyond any 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).

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)
02/23/2026

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	02/23/2026		S		5,256	D	$28.3815(1)	3,032,653	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 February 23rd price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $28.06 to $28.515, 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) 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.

Remarks:

	C. John Wilder, Jr.	02/25/2026
	Jonathan Siegler	02/25/2026
	Jonathan Siegler	02/25/2026
	Jonathan Siegler	02/25/2026
	C. John Wilder, Jr.	02/25/2026
	C. John Wilder, Jr.	02/25/2026
	** Signature of Reporting Person	Date
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FAQ

What insider transaction did Bluescape report in Riley Exploration Permian (REPX) stock?

Bluescape Riley Exploration Holdings LLC reported selling 5,256 shares of Riley Exploration Permian common stock in an open-market transaction at a weighted average price of $28.3815 per share. The sale occurred on February 23 and was disclosed in a Form 4 filing.

Who actually held the REPX shares involved in this Form 4 sale?

The shares sold are reported as held directly by Bluescape Riley Exploration Holdings LLC. Related Bluescape entities and C. John Wilder Jr. are also reporting persons, but the filing states the securities are directly held by Bluescape Riley Exploration Holdings LLC, not by the individuals personally.

How many Riley Exploration Permian (REPX) shares did Bluescape hold after the reported sale?

After the open-market sale, Bluescape Riley Exploration Holdings LLC reported ownership of 3,032,653 shares of Riley Exploration Permian common stock. This figure is disclosed as the total number of shares beneficially owned following the transaction in the Form 4 filing.

At what prices were the REPX shares sold in the Bluescape Form 4 transaction?

The February 23 sale used a weighted average price of $28.3815 per share. The filing explains the shares were sold in multiple transactions, with individual sale prices ranging from $28.06 to $28.515 per share, inclusive, across those trades.

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

No. The filing states that each reporting person, other than Bluescape Riley Exploration Holdings LLC, does not admit beneficial ownership. All reporting persons, including Bluescape Riley Exploration Holdings LLC, disclaim beneficial ownership except to the extent of any pecuniary interest in the securities.

What role does C. John Wilder Jr. have in the Bluescape entities reporting REPX holdings?

The Form 4 states that C. John Wilder Jr. has the power to direct the affairs of Bluescape Resources Company LLC as its Executive Chairman. Bluescape Resources indirectly controls upstream entities in the ownership chain of Bluescape Riley Exploration Holdings LLC, which directly holds the reported REPX shares.