Riley Bobby, the Chief Executive Officer of Riley Exploration Permian, Inc., has filed a Form 4 with the SEC, detailing a transaction involving the surrender of shares. This action is significant as it pertains to the executive's tax obligations related to the vesting of restricted stock. Such moves can influence perceptions of executive compensation practices within the crude petroleum and natural gas industry.
Background
Riley Exploration Permian, Inc. operates in the crude petroleum and natural gas sector, focusing on exploration and production activities. The company is based in Oklahoma City, Oklahoma, and trades under the ticker symbol REPX. Recent filings indicate ongoing activity in executive transactions, particularly concerning stock options and restricted shares.
What the Filing Says
According to the filing dated October 2, 2026, Bobby Riley surrendered 7,933 shares of common stock to satisfy tax withholding obligations incurred upon the vesting of restricted stock. The filing notes, "The surrender is exempt under Rule 16b-3(e) and does not represent a discretionary trade by the reporting person." Following this transaction, Riley holds a total of 475,050 shares, which includes 341,370 shares subject to vesting and restrictions.
Impact
This transaction may impact shareholders and employees of Riley Exploration Permian, Inc. by highlighting the company's approach to executive compensation and tax management. It also serves as a reminder of the financial responsibilities that come with stock-based compensation plans.
What's Next
The filing does not say what happens next.