Richard Penry was born on November 18, 1948, in Petaluma, California. He enlisted in the U.S. Army on March 5, 1969, and completed Basic Training and Infantry Training at Fort Lewis, Washington, in July 1969. Penry then deployed to Southeast Asia, where he served as an Infantryman with Company C, 4th Battalion, 12th Infantry, 199th Infantry Brigade in South Vietnam from August 1969 to August 1970. His final assignment was with A Troop, 1st Squadron, 3rd Armored Cavalry Regiment at Fort Lewis from September 1970 until he received an honorable discharge from the Army on March 4, 1971. Richard Penry died on May 9, 1994, and was buried at the Cypress Hill Memorial Park in Petaluma, California.

His Medal of Honor Citation reads:

For conspicuous gallantry and intrepidity in action at the risk of his life above and beyond the call of duty. Sgt. Penry, Company C, distinguished himself while serving as a rifleman during a night ambush mission. As the platoon was preparing the ambush position, it suddenly came under an intense enemy attack from mortar, rocket, and automatic weapons fire which seriously wounded the company commander and most of the platoon members, leaving small isolated groups of wounded men throughout the area. Sgt. Penry, seeing the extreme seriousness of the situation, worked his way through the deadly enemy fire to the company command post where he administered first aid to the wounded company commander and other personnel. He then moved the command post to a position which provided greater protection and visual communication and control of other platoon elements. Realizing the company radio was damaged and recognizing the urgent necessity to reestablish communications with the battalion headquarters, he ran outside the defensive perimeter through a fusillade of hostile fire to retrieve a radio. Finding it inoperable, Sgt. Penry returned through heavy fire to retrieve 2 more radios. Turning his attention to the defense of the area, he crawled to the edge of the perimeter, retrieved needed ammunition and weapons and resupplied the wounded men. During a determined assault by over 30 enemy soldiers, Sgt. Penry occupied the most vulnerable forward position placing heavy, accurate fire on the attacking enemy and exposing himself several times to throw hand grenades into the advancing enemy troops. He succeeded virtually single-handedly in stopping the attack. Learning that none of the radios were operable, Sgt. Penry again crawled outside the defensive perimeter, retrieved a fourth radio and established communications with higher headquarters. Sgt. Penry then continued to administer first aid to the wounded and repositioned them to better repel further enemy attacks. Despite continuous and deadly sniper fire, he again left the defensive perimeter, moved to within a few feet of enemy positions, located 5 isolated wounded soldiers, and led them to safety. When evacuation helicopters approached, Sgt. Penry voluntarily left the perimeter, set up a guiding beacon, established the priorities for evacuation and successively carried 18 wounded men to the extraction site. After all wounded personnel had been evacuated, Sgt. Penry joined another platoon and assisted in the pursuit of the enemy. Sgt. Penry's extraordinary heroism at the risk of his own life are in keeping with the highest traditions of the military service and reflect great credit on him, his unit, and the U.S. Army.