Company: REI
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001628280-25-017570
Chunk: 55

Company: RING ENERGY, INC.
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 55
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 the PSUs half of the awards were valued using a Monte Carlo simulation as of the grant dates, and the other half of the awards were valued based on the closing market price for our shares of Common Stock on the NYSE American on the grant dates. 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%. The maximum award opportunity for each applicable NEO for the 2024 PSU awards as of the grant date is as follows: Mr. McKinney $2,815,948, Mr. Thomas $857,025, Mr. Brooks $857,025, Mr. Baghdati $857,025,Mr. Dyes $857,025, Mr. Feiner $—, and Mr. Young $—.

(2) Represents the discretionary portion of AIP, as well as a sign-on bonus for Mr. Feiner and Mr. Young.

(3) Mr. Brooks retired from the Company on July 1, 2024. Mr. Baghdati elected to leave the Company on July 17, 2024. Of the $592,477 in equity awards granted to Mr. Brooks, $428,513 were PSU awards which were forfeited upon his retirement. The remaining $163,964 was for RSU awards, of which two-thirds were forfeited upon his retirement. Of the $592,477 in equity awards granted to Mr. Baghdati $428,513 were PSU awards which were forfeited upon his resignation. The remaining $163,964 was for RSU awards, which were also forfeited upon his resignation.

(4) "Salary" for 2024 includes the portion of Mr. Brooks' salary paid through his resignation on July 1, 2024 and the portion of his consulting fee paid from July 2, 2024 to December 31, 2024.

(5) Mr. Feiner began working at the Company on July 31, 2024 as Vice President, General Counsel. On March 1, 2025, Mr. Feiner was promoted to Senior Vice President, General Counsel & Corporate Secretary.

(6) Mr. Young began working at the Company in September 202