Company: REI
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001628280-25-017570
Chunk: 58

Company: RING ENERGY, INC.
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 58
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| (1)The shares granted on February 13, 2024 and July 31, 2024 represent the 2024 awards of service-based RSUs, which vest in three equal annual installments beginning on the first anniversary of the grant date.                                                                                                                                                                                                                                                                                                                                                                                                                             
 (2)The amounts granted on April 30, 2024 represent the target number of PSUs. The PSUs have a cliff vesting date of December 31, 2026 and were valued using a Monte Carlo simulation as of the grant date for half of the awards and based on the Common Stock price for the other half.                                                                                                                                                                                                                                                                                                                                                      
 (3)Reflects the full grant date fair value of the equity awards granted pursuant to the Company’s equity plans calculated in accordance with FASB ASC Topic 718. The PSUs granted in 2024 were valued using the Monte Carlo simulation as of the grant dates and incorporated the following assumptions: performance period end date – December 31, 2026; expected term (years) –  2.67 years; expected volatility –  62.03%; risk-free interest rate – 4.87%; and expected dividend yield – 0.00%. These amounts were calculated based on the closing market price for our shares of Common Stock on the NYSE American on the date of grant. 
 (4)This represents the performance-based portion of the AIP awards. The target amount is based upon a percentage of the NEO's base salary. For 2024, the Compensation Committee chose net Boe production (sales), internal rate of return, and net lifting costs as the performance measures. See “Annual Incentive Plan” above in the CD&A section for additional information.                                                                                                                                                                                                                                                               |     |         |     |                                     |   |     |            |         |     |             |           |     |                                  |         |     |                                |         |     |        |           |     |             |         |     |                                                          |           |     |                                                              |

#### 59

#### RING ENERGY

#### OUTSTANDING EQUITY AWARDS AT 2024 FISCAL YEAR-END
The following table provides certain information regarding RSU awards and PSU awards outstanding for each NEO as of December 31, 2024.

|                     |     | RSUs                                                           |     |         |                                                                      |     |            | PS