Company: REI
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001628280-25-017570
Chunk: 85

Company: RING ENERGY, INC.
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 85
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 Stock that will be reserved for issuance pursuant to the Amended Plan will not exceed the sum of 27,400,000 shares, which as of March 10, 2025 includes 11,500,000 shares to be added pursuant to the Plan Amendment, 1,625,756 shares remaining available for awards under the 2021 Plan, 341,155 shares that were reserved but unissued under the Ring Energy, Inc. Long-Term Incentive Plan (the “Prior Plan”) which have since been transferred to the 2021 Plan, and any shares originally reserved under the Prior Plan that, after May 25, 2021, are forfeited, terminated, lapsed, or satisfied thereunder in cash or property other than shares. The closing price of a share of our Common Stock on April 3, 2025, reported on the NYSE American (the “NYSE”) was $1.07.

The principal purposes of the Amended Plan are to: (a) encourage profitability and growth of the Company through short- term and long-term incentives that are consistent with the Company’s objectives; (b) to give participants an incentive for excellence in individual performance; (c) to promote teamwork among participants; and (d) to give the Company a significant advantage in attracting and retaining key employees, directors, and consultants. To accomplish such purposes, the Amended Plan provides that the Company may grant options, stock appreciation rights, restricted shares, restricted stock units, performance-based awards (including performance-based restricted shares and restricted stock units), other share-based awards, other cash-based awards, or any combination of the foregoing. When considering new grants of share-based or option-based awards, we intend to take into account previous grants of such awards. A summary of the material provisions of the Amended Plan is set forth below.

Administration. The Amended Plan is administered by the Compensation Committee (referred to below as the plan administrator). The plan administrator has the power to determine the terms of the awards granted under the Amended Plan, including the exercise price, the number of shares subject to each award, and the exercisability of the awards. The plan administrator also has full power to determine the persons to whom and the time or times at which awards will be made and to make all other determinations and take all other actions advisable for the administration of the Amended Plan.

Eligible Participants. Certain employees, non-employee directors and consultants are eligible to be granted awards under the Amended Plan,