Four-time Oscar nominee Jason Reitman and his production company Right of Way Films have optioned the movie rights to Simon Rich's satirical novel "Elliot Allagash," Reitman's publicist has confirmed to TheWrap.

Rich, the 25-year-old son of New York Times columnist Frank Rich (I'm sure he hates when articles mention this … forgive me, Simon), is the former president of the Harvard Lampoon and the youngest-ever writer for NBC's "Saturday Night Live."

He will adapt his own novel, which follows Seymour Herson, a young man from a wealthy family who is regularly picked on at his private school. He's taken under the wing of the book's title character, a teen who likes to get drunk and cause trouble.

Random House published the book last month, and I'm definitely getting a "Rushmore" vibe from the plot description.

Reitman intends to produce the adaptation but hasn't committed to direct at this point, nor is he really expected to, as the property would be an unlikely follow-up to his Oscar-nominated drama "Up in the Air."

He co-created Right of Way with billionaire Steven Rales' financing and production company Indian Paintbrush, which will finance the film and produce with Right of Way, whose Helen Estabrook will exec produce.

Reitman is also producing the Duplass brothers' "Jeff Who Lives at Home" with financier Indian Paintbrush and John Malkovich's Mr. Mudd Productions.

Rich recently co-wrote the comedy spec "When a Stranger Calls a Dude" (great title!) with Bill Hader for producer Judd Apatow.

He is represented by CAA, while Reitman is represented by WME.