Company: REI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001384195-25-000018
Chunk: 38

Company: RING ENERGY, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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 Total share-based compensation$1,618,600 $32,087 $4,661,397 $3,833,697 (1) The negative share-based compensation expense for performance stock unit awards during the three months ended September 30, 2024 is reflective of the forfeitures that were incurred and recognized during that period.In 2011, the Board of Directors (the "Board") of the Company approved and adopted a long-term incentive plan (the “2011 Plan”), which was subsequently approved and amended by the stockholders. There were no shares eligible for grant, either as stock options or as restricted stock, as of September 30, 2025.In 2021, the Board and Company stockholders approved and adopted the Ring Energy, Inc. 2021 Omnibus Incentive Plan (the “2021 Plan”). The 2021 Plan provides that the Company may grant options, stock appreciation rights, restricted shares, restricted stock units, performance-based awards, other share-based awards, other cash-based awards, or any combination of the foregoing. At the 2023 Annual Meeting of Stockholders, the stockholders approved an amendment to the 2021 Plan to increase the number of shares available under the 2021 Plan by 6.0 million. At the 2025 Annual Meeting of Stockholders, the stockholders approved a second amendment to the 2021 Plan to increase the number of shares available under the 2021 Plan by 11.5 million. There were 11,586,305 shares available for grant as of September 30, 2025 under the 2021 Plan.

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Employee Stock OptionsA summary of the status of the stock options as of September 30, 2025 and 2024 and changes during the respective nine month periods then ended are as follows:OptionsWeighted-AverageExercise PriceWeighted-Average Remaining Contractual TermAggregate Intrinsic ValueOutstanding, December 31, 202370,500$10.33 Granted—— Forfeited—— Expired(5,000)5.50 Exercised—— Outstanding, March 31, 202465,500$10.70 2.31 years$— Exercisable, March 31, 202465,500$10.70 2.31 yearsGranted—— Forfeited—— Expired—— Exercised—— Outstanding, June 30, 202465,500$10