Form 4: Riley Exploration Permian CEO Sells Shares Under 10b5-1 Trading Plan

Riley Exploration Permian CEO, Bobby Riley, sold a total of 13,690 shares of common stock across three transactions on November 26th and 27th, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Bobby Riley, CEO of Riley Exploration Permian, Inc., executed multiple sales of the company's common stock.
• These sales were conducted under a pre-existing Rule 10b5-1 trading plan adopted on August 21, 2024.
• On November 26, 2024, 4,540 shares were sold at a weighted average price of $35.17, with prices ranging from $34.79 to $35.74.
• Also on November 26, 2024, 96 shares were sold at $36.03.
• On November 27, 2024, 9,054 shares were sold at a weighted average price of $35.05, with prices ranging from $34.95 to $35.59.
• Following these transactions, Mr. Riley directly owns 312,685 shares, which includes 85,315 restricted shares subject to vesting.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction under a pre-arranged plan, with no indication of positive or negative sentiment. It is a neutral event.

Risks

• Executive stock sales can sometimes be perceived negatively by the market, potentially impacting investor sentiment.
• The reliance on a 10b5-1 trading plan suggests a predetermined strategy for selling shares, which could continue in the future.

Industry Context

Executive stock sales are a common occurrence in publicly traded companies, often part of compensation packages or personal financial planning. The use of a 10b5-1 plan is a standard practice to avoid accusations of insider trading.

Comparison to Industry Standards

• The use of a 10b5-1 trading plan is a common practice among executives at publicly traded companies, including those in the oil and gas sector like Riley Exploration Permian.
• Similar transactions are regularly reported by executives at companies such as EOG Resources, Pioneer Natural Resources, and Devon Energy.
• The volume of shares sold by Mr. Riley is not unusual for an executive of his position, and the price range is consistent with typical market fluctuations.

Stakeholder Impact

• The stock sales may have a minor impact on shareholder sentiment, but the use of a 10b5-1 plan mitigates concerns about insider trading.
• The transactions do not directly impact employees, customers, or suppliers.

Key Dates

Keywords

Riley Exploration Permian, REPX, Bobby Riley, stock sale, 10b5-1 trading plan, insider trading, executive compensation