Company: REI
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038401
Chunk: 37

Company: RING ENERGY, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 of June 30, 2025 and 2024 and changes during the respective six 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$10.70 2.06 years$— Exercisable, June 30, 202465,500$10.70 2.06 yearsOutstanding, December 31, 202465,500$10.70 Granted—— Forfeited—— Expired—— Exercised—— Outstanding, March 31, 202565,500$10.70 1.31 years$— Exercisable, March 31, 202565,500$10.70 1.31 yearsGranted—— Forfeited—— Expired——Exercised—— Outstanding, June 30, 202565,500$10.70 1.06 years$— Exercisable, June 30, 202565,500$10.70 1.06 yearsThe intrinsic values were calculated using the closing price on June 30, 2025 of $0.79 and the closing price on June 30, 2024 of $1.69. As of June 30, 2025, the Company had $0 of unrecognized compensation cost related to stock options.

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Restricted Stock UnitsA summary of the restricted stock unit ("RSU") activity as of June 30, 2025 and 2024, respectively, and changes during the respective six month periods then ended are as follows:Restricted Stock UnitsWeighted-Average GrantDate Fair ValueOutstanding, December 31, 20233,148,226 $2.40 Granted2,647,970 1.30 Forfeited or rescinded(26,802)1.30 Vested(1,342,112)2.