Form 4: Riley Exploration Permian Executive Acquires Restricted Stock

Corey Neil Riley, EVP of Business Intelligence at Riley Exploration Permian, acquired 14,552 shares of restricted stock on April 15, 2024.

Summary

• Corey Neil Riley, EVP of Business Intelligence at Riley Exploration Permian, filed a Form 4.
• On April 15, 2024, Riley acquired 14,552 shares of restricted stock under the company's 2021 Long Term Incentive Plan.
• The shares were acquired at a price of $0.
• Following the transaction, Riley directly owns 149,337 shares of common stock, including 99,558 shares of restricted common stock subject to vesting and other restrictions.
• The restricted stock vests in equal amounts on April 1, 2025, April 1, 2026, and April 1, 2027, subject to certain contingencies and provisions allowing for accelerated vesting.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The granting of restricted stock is a standard practice, indicating confidence in the executive and aligning their interests with shareholders. There are no explicitly negative aspects mentioned.

Positives

• The acquisition of restricted stock aligns the executive's interests with the long-term performance of the company.
• The vesting schedule encourages continued service and contribution to the company's success.

Future Outlook

The vesting schedule of the restricted stock suggests an expectation of continued employment and contribution from the executive over the next three years.

Industry Context

Granting restricted stock is a common practice in the oil and gas industry to incentivize executives and align their interests with shareholders.

Comparison to Industry Standards

• Many oil and gas companies use long-term incentive plans, including restricted stock, to compensate executives.
• The specific vesting terms and amounts vary depending on the company's size, performance, and executive's role.
• Comparing Riley Exploration Permian's executive compensation practices to those of its peers would provide a more comprehensive assessment.

Stakeholder Impact

• Shareholders: Aligns executive interests with shareholder value.
• Employees: May boost morale by demonstrating investment in leadership.
• Executive: Incentivizes continued service and performance.

Key Dates