Riley Exploration Permian, Inc. 8-K

What Happened

• Riley Exploration Permian, Inc. announced that on February 4, 2026 its Board appointed Bobby Saadati as an independent director to fill a newly-created directorship. His initial term expires at the Company’s 2026 Annual Meeting of Stockholders, when he will stand for election.
• The Company filed a press release about the appointment on February 6, 2026 and executed an independent director agreement and an indemnification agreement with Mr. Saadati.

Key Details

• Appointment effective: February 4, 2026; initial term ends at 2026 Annual Meeting.
• Independence: Board determined Mr. Saadati is an “independent director” under NYSE American rules.
• Compensation: $120,000 annual cash retainer (paid quarterly, prorated for partial year) plus $200,000 in restricted stock (based on the closing price before the agreement), with the restricted stock vesting one year after grant subject to continued service.
• Governance protections: Mr. Saadati entered an indemnification agreement requiring advancement of expenses and indemnity to the fullest extent permitted by Delaware law.

Why It Matters

• This is a governance update: adding an independent director can affect board composition, oversight, and shareholder governance perceptions.
• The direct financial impact is limited and disclosed: a cash retainer and a one-time restricted stock grant (total equity grant valued at $200,000 at grant pricing) plus routine indemnification obligations.
• No related-party transactions or special appointment arrangements were reported, and the filing did not announce changes to executive management or operational results.