Riley Philip A, the Chief Financial Officer and Executive Vice President of Strategy at Riley Exploration Permian, Inc., recently surrendered 6,954 shares of common stock. This transaction was made to satisfy tax withholding obligations that arose upon the vesting of restricted stock.
This event is significant as it demonstrates the financial management practices employed by executives in the crude petroleum and natural gas industry. Such actions can provide insights into how companies handle executive compensation and tax liabilities.
Background
Riley Exploration Permian, Inc. operates within the crude petroleum and natural gas sector, identified by the Standard Industrial Classification (SIC) code 1311. The company, which is incorporated in Delaware, has a fiscal year ending on December 31. Its business address is located at 29 E. Reno Avenue, Suite 500, Oklahoma City, OK.
What the Filing Says
According to the filing dated October 2, 2026, the transaction occurred on October 1, 2026. The filing noted that the shares were surrendered to meet tax obligations incurred due to the vesting of restricted stock under the company's 2021 Long Term Incentive Plan. The surrender of shares was exempt under Rule 16b-3(e), indicating it does not represent a discretionary trade by the reporting person.
Impact
This share surrender may affect various stakeholders, including the company’s shareholders and executive team. It highlights the ongoing financial strategies that executives must navigate, particularly in relation to tax obligations and stock compensation plans.
What's Next
The filing does not say what happens next.