Form 4: Riley Exploration Permian CIO & CCO Sells Shares to Cover Tax Obligations

Corey Neil Riley, CIO & CCO of Riley Exploration Permian, Inc., sold shares of common stock to cover withholding tax liabilities related to vesting restricted stock.

Summary

• On September 27, 2024, Corey Neil Riley, the CIO & CCO of Riley Exploration Permian, Inc. (REPX), sold 6,698 shares of common stock at a price of $26.52 per share.
• On October 1, 2024, Riley sold an additional 10,665 shares of common stock at $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 129,474 shares of common stock, which includes 60,189 shares of restricted common stock subject to vesting and other restrictions.

Sentiment

Score: 5

Explanation: This is a neutral event. The stock sales are related to tax obligations, not necessarily a reflection of the executive's view on the company's future prospects.

Industry Context

This is a routine Form 4 filing, indicating insider transactions. It's common for executives to sell shares to cover tax obligations when restricted stock vests. The impact on the overall market and industry is likely minimal.

Stakeholder Impact

• The stock sales could have a minor, temporary impact on the stock price, but it's unlikely to significantly affect shareholders in the long term.
• Employees are unlikely to be directly affected by these transactions.

Key Dates