Combine butter, salt, pepper, garlic, parsley and rosemary in a bowl. place butter mixture onto a sheet of plastic wrap, roll into a log and twist off the ends. Place into the refrigerator for up to an hour. This is a good time to take your ribeyes out and bring them up to room temperature.
With your grill heated to around 450 F, Season ribeyes with a little salt and pepper. Sear for about 1 minute per side over direct heat with the grill closed.
Transfer steak to indirect heat and place a bout 1 tbsp of the compound butter on top and cook for about 3 minutes. Flip the steak and grill for another 3-4 minutes with 1 tbsp of compound butter. Cook until internal temp is about 125 F for medium rare.
Remove from grill and let rest for about 5 minutes