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

Riley Exploration (REPX) grants CAO time- and performance-based stock

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Gutman Jeffrey reported acquisition or exercise transactions in this Form 4 filing.

Riley Exploration Permian, Inc. reported that CAO & EVP Commercial Risk Jeffrey Gutman received equity awards of common stock under the company’s Second Amended and Restated 2021 Long Term Incentive Plan. These are compensation grants, not open‑market purchases.

The filing shows a grant of 30,044 shares of time-based restricted stock that vest in three equal annual installments on April 1, 2027, April 1, 2028, and April 1, 2029, subject to forfeiture and accelerated vesting provisions. It also records a performance-based restricted stock award with a maximum payout opportunity of 27,899 shares, equal to 200% of the target award, which cliff vests on April 1, 2029 based on relative total shareholder return over the period from January 1, 2026 to December 31, 2028.

Positive

  • None.

Negative

  • None.
Insider Gutman Jeffrey
Role CAO & EVP Commercial Risk
Type Security Shares Price Value
Grant/Award Common Stock, par value $0.001 per share 27,899 $0.00 --
Grant/Award Common Stock, par value $0.001 per share 30,044 $0.00 --
Holdings After Transaction: Common Stock, par value $0.001 per share — 69,806 shares (Direct, null)
Footnotes (1)
  1. Represents shares of time-based restricted stock granted under the Issuer's Riley Exploration Permian, Inc. Second Amended and Restated 2021 Long Term Incentive Plan. Subject to certain forfeiture and accelerated vesting provisions, the shares vest in three equal annual installments on April 1, 2027, April 1, 2028, and April 1, 2029. This amount includes 63,830 shares of restricted common stock subject to vesting and certain other restrictions. Represents the maximum payout opportunity under a performance-based restricted stock award (the "Award"), equal to 200% of the target award, granted under Issuer's Riley Exploration Permian, Inc. Second Amended and Restated 2021 Long Term Incentive Plan. Subject to continued service and the achievement of specified performance criteria, the Award cliff vests on April 1, 2029 based on the Issuer's relative total shareholder return performance as compared to the Issuer's peer group during the performance period beginning January 1, 2026 and ending December 31, 2028. The number of shares earned may range from 0% to 200% of the target award based on achievement of the applicable performance metrics. This amount includes 93,874 shares of restricted common stock subject to vesting and certain other restrictions.
Time-based restricted stock grant 30,044 shares Granted as restricted stock vesting annually 2027–2029
Performance-based award max payout 27,899 shares Maximum 200% of target performance-based restricted stock
Performance period January 1, 2026 to December 31, 2028 Relative total shareholder return measurement window
Time-based vesting dates April 1, 2027, 2028, 2029 Three equal annual installments
Cliff vest date performance award April 1, 2029 Performance-based restricted stock cliff vesting
Restricted shares noted in footnote F2 63,830 shares Restricted common stock subject to vesting and other restrictions
Restricted shares noted in footnote F4 93,874 shares Restricted common stock subject to vesting and other restrictions
time-based restricted stock financial
"Represents shares of time-based restricted stock granted under the Issuer's Riley Exploration Permian, Inc. Second Amended and Restated 2021 Long Term Incentive Plan."
Time-based restricted stock are company shares granted to employees or executives that become fully owned and transferable only after the recipient stays with the company for specified time periods. Think of it like receiving a wrapped gift that opens a little each year; the gradual unlocking helps keep employees motivated and tied to long-term performance. Investors watch these grants because they can dilute existing shares when they vest and signal how management is being rewarded and incentivized.
performance-based restricted stock award financial
"Represents the maximum payout opportunity under a performance-based restricted stock award (the "Award"), equal to 200% of the target award, granted under Issuer's Riley Exploration Permian, Inc. Second Amended and Restated 2021 Long Term Incentive Plan."
relative total shareholder return financial
"based on the Issuer's relative total shareholder return performance as compared to the Issuer's peer group during the performance period"
Relative total shareholder return measures how much an investor’s gain from a company — including stock price changes and dividends — beats or lags a chosen benchmark or peer group over a set time. Think of it as a race: it shows whether the company outpaced rivals or the market, which helps investors and boards judge performance, compare returns fairly, and link results to pay or investment decisions.
cliff vests financial
"Subject to continued service and the achievement of specified performance criteria, the Award cliff vests on April 1, 2029"
Long Term Incentive Plan financial
"granted under Issuer's Riley Exploration Permian, Inc. Second Amended and Restated 2021 Long Term Incentive Plan."
A long term incentive plan is a company program that awards executives and key employees bonuses—often in stock, options, or cash—only if the business meets multi-year performance goals. It links management pay to company results—like tying a coach’s bonus to a team’s multi-season record—so investors monitor it for how leaders are motivated, potential share dilution, and signals about the company’s long-term priorities.
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Gutman Jeffrey
(Last)(First)(Middle)
C/O RILEY EXPLORATION PERMIAN, INC.
29 E. RENO, SUITE 500
(Street)
OKLAHOMA CITY OKLAHOMA 73104
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Riley Exploration Permian, Inc. [ REPX ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
CAO & EVP Commercial Risk
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
05/15/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Common Stock, par value $0.001 per share05/15/2026A27,899(1)A$069,806(2)D
Common Stock, par value $0.001 per share05/15/2026A30,044(3)A$099,850(4)D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. Represents shares of time-based restricted stock granted under the Issuer's Riley Exploration Permian, Inc. Second Amended and Restated 2021 Long Term Incentive Plan. Subject to certain forfeiture and accelerated vesting provisions, the shares vest in three equal annual installments on April 1, 2027, April 1, 2028, and April 1, 2029.
2. This amount includes 63,830 shares of restricted common stock subject to vesting and certain other restrictions.
3. Represents the maximum payout opportunity under a performance-based restricted stock award (the "Award"), equal to 200% of the target award, granted under Issuer's Riley Exploration Permian, Inc. Second Amended and Restated 2021 Long Term Incentive Plan. Subject to continued service and the achievement of specified performance criteria, the Award cliff vests on April 1, 2029 based on the Issuer's relative total shareholder return performance as compared to the Issuer's peer group during the performance period beginning January 1, 2026 and ending December 31, 2028. The number of shares earned may range from 0% to 200% of the target award based on achievement of the applicable performance metrics.
4. This amount includes 93,874 shares of restricted common stock subject to vesting and certain other restrictions.
Remarks:
/s/ Jeffrey M. Gutman05/19/2026
** Signature of Reporting PersonDate
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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Riley Exploration Permian (REPX) disclose about Jeffrey Gutman in this Form 4?

Riley Exploration Permian disclosed that CAO & EVP Commercial Risk Jeffrey Gutman received time-based and performance-based restricted stock awards as compensation. These grants were made under the company’s Second Amended and Restated 2021 Long Term Incentive Plan, rather than through open-market share purchases.

How many restricted shares did REPX grant to its CAO in time-based awards?

The company granted 30,044 shares of time-based restricted stock to its CAO. These shares are subject to forfeiture and accelerated vesting provisions and vest in three equal annual installments on April 1, 2027, April 1, 2028, and April 1, 2029 under the long-term incentive plan.

What are the terms of the performance-based restricted stock award reported by REPX?

The performance-based restricted stock award has a maximum payout opportunity of 27,899 shares, equal to 200% of the target award. It cliff vests on April 1, 2029, contingent on continued service and specified performance criteria tied to relative total shareholder return versus a peer group.

What performance period applies to the REPX performance-based restricted stock award?

The performance-based restricted stock award is measured over a performance period from January 1, 2026 to December 31, 2028. Vesting on April 1, 2029 depends on Riley Exploration Permian’s relative total shareholder return compared to a defined peer group during that period.

Are Jeffrey Gutman’s REPX restricted stock awards immediately vested?

No, the restricted stock awards are not immediately vested. The time-based restricted shares vest in three equal annual installments from April 2027 to April 2029, while the performance-based award cliff vests on April 1, 2029, subject to service and achievement of total shareholder return performance metrics.

Were the REPX shares acquired by Jeffrey Gutman open-market purchases?

The shares were not open-market purchases. They were granted as restricted stock awards under Riley Exploration Permian’s long-term incentive plan, with a transaction code indicating grants or awards, and carry vesting conditions and potential forfeiture rather than being bought at a market price.