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

Rhea-AI Filing Summary

Corey Riley, CIO & CCO of Riley Exploration Permian, Inc. (REPX), reported a non-discretionary disposition on 09/27/2025. He surrendered 4,420 shares of common stock at $28.96 per share to satisfy withholding taxes arising from the vesting of restricted stock originally issued under the companys 2021 Long Term Incentive Plan. After that transaction, the reporting person beneficially owned 172,280 shares, which include 99,415 restricted shares still subject to vesting and other restrictions. The Form 4 contains no derivative transactions.

The filing clarifies the sale was tax withholding related and not a discretionary trade by the reporting person.

Positive

• Continued significant ownership: Reporting person still beneficially owns 172,280 shares, indicating alignment with shareholder interests.
• Retention via incentives: 99,415 shares remain restricted and subject to vesting, supporting long-term retention incentives.

Negative

• Share surrender reduced free float: 4,420 shares were surrendered to cover withholding taxes, slightly lowering the reporting person's free tradable shares.

Insights

Financial Analyst

TL;DR: Officer surrendered a small block of shares to cover tax withholding on RSU vesting; overall ownership remains substantial.

The reported disposition of 4,420 shares at $28.96 was explicitly to satisfy tax withholding on vested restricted stock, not an open-market sale. That distinction reduces concerns about opportunistic insider selling. The post-transaction beneficial ownership of 172,280 shares, including 99,415 restricted shares, signals continued alignment with long-term equity incentives. No options or other derivative activity were reported, limiting immediate dilution or hedging concerns.

Corporate Governance Expert

TL;DR: Transaction is routine tax-related surrender on RSU vesting; governance implications are minimal.

The filing documents a routine administrative action tied to the 2021 Long Term Incentive Plan. Because the shares were surrendered for withholding rather than sold on market, this reduces potential negative signaling. The presence of 99,415 restricted shares indicates ongoing incentive alignment and vesting-based retention. No additional governance red flags, such as unexplained sales or derivative hedging, are present in this Form 4.

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^*

Riley Corey Neil

(Last) (First) (Middle)

C/O RILEY EXPLORATION PERMIAN, INC.

29 EAST RENO, SUITE 500

(Street)

OKLAHOMA CITY OK 73104

(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		10% Owner
X	Officer (give title below)		Other (specify below)
	CIO & CCO

3. Date of Earliest Transaction (Month/Day/Year)
09/27/2025

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

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

X	Form filed by One Reporting Person
	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, par value $0.001 per share	09/27/2025		F		4,420(1)	D	$28.96	172,280(2)	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. These shares were surrendered to satisfy the withholding tax liability incurred upon the vesting of shares of restricted stock originally issued to the reporting person pursuant to the Riley Exploration Permian, Inc. 2021 Long Term Incentive Plan and does not represent a discretionary trade by the reporting person.

2. This amount includes 99,415 shares of restricted common stock subject to vesting and certain other restrictions.

Remarks:

	/s/ Corey Riley	09/29/2025
	** 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.
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.

FAQ

What transaction did Corey Riley report on Form 4 for REPX?

He surrendered 4,420 shares on 09/27/2025 at $28.96 per share to satisfy withholding taxes related to vested restricted stock.

How many REPX shares does the reporting person beneficially own after the transaction?

172,280 shares beneficially owned following the reported transaction.

How many restricted REPX shares remain subject to vesting for the reporting person?

99,415 restricted shares are included in the beneficial ownership total and remain subject to vesting and other restrictions.

Was the sale a discretionary open-market transaction?

No. The Form 4 states the shares were surrendered to satisfy withholding tax liability upon vesting and "does not represent a discretionary trade."

Did the Form 4 report any derivative transactions for REPX?

No derivative transactions were reported in Table II of the Form 4.