Company: REI
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001628280-25-017570
Chunk: 49

Company: RING ENERGY, INC.
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 49
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                                       |     | BELOW THRESHOLD |     | THRESHOLD |     | TARGET |     | STRETCH |     | MAXIMUM |
| FINAL CROCE PERFORMANCE PERCENTAGE(1) |     | ≤0%             |     | 5%        |     | 10%    |     | 15%     |     | 20%     |
| CROCE PSU PERCENTAGE(2)               |     | 0%              |     | 50%       |     | 100%   |     | 150%    |     | 200%    |

(1) Calculated as the simple average of the annual CROCE performance percentages for each calendar year of the performance period.

(2) CROCE PSU Percentage between 0 percent and 200 percent is adjusted through linear interpolation.

For PSU awards granted in 2024, the following table is used.

|                                       |     | BELOW THRESHOLD |     | THRESHOLD |     | TARGET |     | STRETCH |     | MAXIMUM |
| FINAL CROCE PERFORMANCE PERCENTAGE(1) |     | ≤5%             |     | 10%       |     | 15%    |     | 18%     |     | 20%     |
| CROCE PSU PERCENTAGE(2)               |     | 0%              |     | 50%       |     | 100%   |     | 150%    |     | 200%    |

(1) Calculated as the simple average of the annual CROCE performance percentages for each calendar year of the performance period.

(2) CROCE PSU Percentage between 0 percent and 200 percent is adjusted through linear interpolation.

Employment Agreements and Severance

From their hiring dates until March 6, 2024, Messrs. McKinney, Baghdati, Brooks, Dyes, and Thomas entered into employment agreements with the Company, which provided such NEOs would receive certain benefits under their employment agreements upon their termination by the Company without “cause” or upon their resignation for “good reason,” including terminations in connection with a change in control of the Company. The employment agreements also provided for restrictive covenants relating to non-competition, confidential information and non-solicitation of the Company’s employees and customers. These benefits were intended to ensure that the NEOs are not influenced by their personal situations and are able to be objective in