Form 4: Bluescape Group Sells REPX Shares

A group of affiliated entities and a director, collectively a 10% owner, sold over 81,000 shares of Riley Exploration Permian common stock in early March 2026.

Summary

• Bluescape Riley Exploration Holdings LLC, along with affiliated entities and director C. John Wilder, collectively a 10% owner of Riley Exploration Permian, Inc. (REPX), reported sales of common stock.
• On March 2, 2026, 19,310 shares were sold at a weighted average price of $29.7345 per share, with prices ranging from $29.50 to $30.14.
• On March 3, 2026, 26,327 shares were sold at a weighted average price of $29.5822 per share, with prices ranging from $29.50 to $29.835.
• On March 4, 2026, 36,050 shares were sold at a weighted average price of $29.6512 per share, with prices ranging from $29.50 to $29.7799.
• Following these transactions, the reporting persons beneficially own 2,950,966 shares of common stock.
• The sales were executed pursuant to a contract, instruction, or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Sentiment

Score: 4

Explanation: StockSavvy.ai views this as a moderately negative signal due to the systematic selling by a significant 10% owner and director group, even though it was conducted under a 10b5-1 plan.

Positives

• The sales were made pursuant to a Rule 10b5-1 plan, indicating a pre-arranged trading plan rather than an immediate reaction to new information.

Negatives

• A significant 10% owner and director group sold a total of 81,687 shares of common stock.
• The sales occurred over three consecutive days in early March 2026, reducing the group's overall stake in the company.
• The average selling prices ranged from $29.5822 to $29.7345, which could be perceived as the reporting persons believing the current price is an opportune exit point.

Future Outlook

NA

Management Comments

• 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.
• 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), (2) and (3) to this Form 4.

Industry Context

StockSavvy.ai notes that insider selling, particularly by a significant 10% owner and director group, can sometimes signal a lack of confidence in the company's near-term prospects or a belief that the stock is fully valued within the energy sector. However, sales under a Rule 10b5-1 plan are pre-scheduled and do not necessarily reflect new information or a change in sentiment at the time of the transaction.

Comparison to Industry Standards

• StockSavvy.ai observes that insider selling is a common occurrence across all industries, including the oil and gas sector. While the sale of 81,687 shares by a 10% owner group is notable, it represents a relatively small percentage of their total holdings (approximately 2.7% of their prior holdings of 3,032,653 shares).
• For context, similar sales by major institutional holders or directors in comparable independent E&P companies like PDC Energy (before its acquisition) or Matador Resources are often scrutinized for their magnitude relative to total holdings and the timing in relation to company performance or commodity price cycles.
• Without further context on the group's overall investment strategy or specific company developments, it is difficult to definitively compare this to industry 'standards' beyond noting it is a routine disclosure for significant insider transactions.

Related Party Transactions

• The transactions involve a director (C. John Wilder) and affiliated entities (Bluescape group) selling shares of the issuer, which are by definition related party transactions in the context of insider reporting.

Stakeholder Impact

• Shareholders: May interpret the insider selling as a negative signal, potentially leading to downward pressure on the stock price.
• Management: The sales by a significant owner and director could raise questions about their long-term commitment or view of the company's valuation.

Key Dates

Recommendation

While insider selling by a 10% owner and director group is generally a negative signal, the sales were conducted under a pre-arranged 10b5-1 plan, which suggests a planned liquidity event rather than a reaction to adverse non-public information. The amount sold, while significant, represents a relatively small portion of their total holdings. Investors should monitor future insider activity and company performance, but this single filing does not warrant an immediate 'sell' recommendation without further context. A 'hold' recommendation is appropriate to observe further developments.

Keywords

Riley Exploration Permian, REPX, insider selling, Form 4, beneficial ownership, stock sale, Bluescape, C. John Wilder, 10b5-1 plan, energy, oil and gas