diff --git a/src/Compilers/CSharp/Portable/Symbols/Metadata/PE/PEParameterSymbol.cs b/src/Compilers/CSharp/Portable/Symbols/Metadata/PE/PEParameterSymbol.cs
index 092fbebdfbf82..138a7cce7d05c 100644
--- a/src/Compilers/CSharp/Portable/Symbols/Metadata/PE/PEParameterSymbol.cs
+++ b/src/Compilers/CSharp/Portable/Symbols/Metadata/PE/PEParameterSymbol.cs
@@ -353,8 +353,15 @@ private PEParameterSymbol(
             bool hasNameInMetadata = !string.IsNullOrEmpty(_name);
             if (!hasNameInMetadata)
             {
-                // As was done historically, if the parameter doesn't have a name, we give it the name "value".
-                _name = "value";
+                if (isExtensionMarkerParameter(containingSymbol, ordinal))
+                {
+                    _name = "";
+                }
+                else
+                {
+                    // As was done historically, if the parameter doesn't have a name, we give it the name "value".
+                    _name = "value";
+                }
             }
 
             _packedFlags = new PackedFlags(refKind, attributesAreComplete: handle.IsNil, hasNameInMetadata: hasNameInMetadata, scope, hasUnscopedRefAttribute);
@@ -362,6 +369,17 @@ private PEParameterSymbol(
             Debug.Assert(refKind == this.RefKind);
             Debug.Assert(hasNameInMetadata == this.HasNameInMetadata);
             Debug.Assert(_name is not null);
+
+            static bool isExtensionMarkerParameter(Symbol containingSymbol, int ordinal)
+            {
+                if (containingSymbol.MetadataName != WellKnownMemberNames.ExtensionMarkerMethodName)
+                {
+                    return false;
+                }
+
+                var markerMethod = ((PENamedTypeSymbol)containingSymbol.ContainingType).GetMarkerMethodSymbol();
+                return object.ReferenceEquals(markerMethod, containingSymbol) && ordinal == 0;
+            }
         }
 
         private bool HasNameInMetadata
diff --git a/src/Compilers/CSharp/Test/Emit3/Semantics/ExtensionTests.cs b/src/Compilers/CSharp/Test/Emit3/Semantics/ExtensionTests.cs
index 9c0dd360ae364..4a7c2b59b7cf1 100644
--- a/src/Compilers/CSharp/Test/Emit3/Semantics/ExtensionTests.cs
+++ b/src/Compilers/CSharp/Test/Emit3/Semantics/ExtensionTests.cs
@@ -4575,6 +4575,50 @@ private class C { }
             Diagnostic(ErrorCode.ERR_BadVisIndexerParam, "P").WithArguments("Extensions.extension(Extensions.C).P", "Extensions.C").WithLocation(6, 27));
     }
 
+    [Fact, WorkItem("https://github.com/dotnet/roslyn/issues/81251")]
+    public void ReceiverParameter_Name()
+    {
+        // Unnamed extension parameter should not default to "value" as its name when round-tripped
+        var libSrc = """
+using System;
+
+public static class ArrayEx
+{
+    extension(Array)
+    {
+        public static T[] Init<T>(T value)
+            => throw null;
+    }
+}
+""";
+        var libComp = CreateCompilation(libSrc);
+        libComp.VerifyDiagnostics();
+
+        var src = """
+using System;
+
+Array.Init(value: 10);
+""";
+        var comp = CreateCompilation([src, libSrc]);
+        comp.VerifyEmitDiagnostics();
+        validate(comp);
+
+        comp = CreateCompilation(src, references: [libComp.EmitToImageReference()]);
+        comp.VerifyEmitDiagnostics();
+        validate(comp);
+
+        comp = CreateCompilation(src, references: [libComp.ToMetadataReference()]);
+        comp.VerifyEmitDiagnostics();
+        validate(comp);
+
+        void validate(CSharpCompilation comp)
+        {
+            var extension = comp.GlobalNamespace.GetTypeMember("ArrayEx").GetTypeMembers("").Single();
+            Assert.True(extension.IsExtension);
+            Assert.Equal("", extension.ExtensionParameter.Name);
+        }
+    }
+
     [Fact]
     public void InconsistentTypeAccessibility_01()
     {
@@ -9085,7 +9129,7 @@ public static string M(object o, string s, int x)
             AssertEx.Equal("Extensions.extension(object).M(object, string)", m1.ToDisplayString());
             AssertEx.Equal([], m1.GetAttributes());
 
-            AssertEx.Equal("System.Object value", extensions[1].ExtensionParameter.ToTestDisplayString());
+            AssertEx.Equal("System.Object", extensions[1].ExtensionParameter.ToTestDisplayString());
             AssertEx.Equal("<M>$C43E2675C7BBF9284AF22FB8A9BF0280", extensions[1].MetadataName);
             Symbol m2 = extensions[1].GetMembers().Single();
             AssertEx.Equal("Extensions.extension(object).M(object, string, int)", m2.ToDisplayString());
@@ -29798,7 +29842,7 @@ public static partial class C
             var container = m.GlobalNamespace.GetTypeMember("C");
             var extension = container.GetTypeMembers().Single();
 
-            AssertEx.Equal("System.Object value", extension.ExtensionParameter.ToTestDisplayString());
+            AssertEx.Equal("System.Object", extension.ExtensionParameter.ToTestDisplayString());
             AssertEx.Equal("<M>$C43E2675C7BBF9284AF22FB8A9BF0280", extension.MetadataName);
 
             var methods = extension.GetMembers();
diff --git a/src/Compilers/CSharp/Test/Emit3/Semantics/ExtensionTests2.cs b/src/Compilers/CSharp/Test/Emit3/Semantics/ExtensionTests2.cs
index 57774ccb56d43..6806ef04b8675 100644
--- a/src/Compilers/CSharp/Test/Emit3/Semantics/ExtensionTests2.cs
+++ b/src/Compilers/CSharp/Test/Emit3/Semantics/ExtensionTests2.cs
@@ -24749,7 +24749,7 @@ static void validate(ModuleSymbol module)
             var extension = module.GlobalNamespace.GetMember<NamedTypeSymbol>("E").GetTypeMembers().Single();
             Assert.Equal(["AAttribute", "BAttribute"], extension.TypeParameters[0].GetAttributes().Select(a => a.ToString()));
             Assert.Equal(["AAttribute", "BAttribute"], extension.ExtensionParameter.GetAttributes().Select(a => a.ToString()));
-            Assert.Equal(module is SourceModuleSymbol ? "" : "value", extension.ExtensionParameter.Name);
+            Assert.Equal("", extension.ExtensionParameter.Name);
         }
     }