Form 4: Riley Exploration Permian CFO Philip Riley Reports Stock Sales to Cover Tax Obligations

Philip Riley, CFO & EVP Strategy of Riley Exploration Permian, Inc., reported the sale of common stock to cover withholding tax liabilities related to vesting restricted stock.

Summary

• On September 27, 2024, Philip Riley, CFO & EVP Strategy of Riley Exploration Permian, Inc. (REPX), sold 6,039 shares of common stock at a price of $26.52 per share.
• On October 1, 2024, Riley sold 9,664 shares of common stock at a price of $26.49 per share.
• These sales were to cover withholding tax liabilities incurred upon the vesting of restricted stock originally issued to Riley under the company's 2021 Long Term Incentive Plan.
• Following these transactions, Riley directly owns 124,239 shares of common stock, which includes 65,294 shares of restricted common stock subject to vesting and other restrictions.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing relates to routine stock sales to cover tax obligations, which is a common practice among executives with restricted stock grants. It doesn't necessarily indicate a positive or negative outlook for the company.

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders. These filings are closely monitored by investors to understand management's perspective on the company's stock and financial health.

Stakeholder Impact

• The stock sales by the CFO could have a minor impact on shareholders due to the increased supply of shares in the market, but the impact is likely minimal given the relatively small number of shares involved.

Key Dates