Company: REI
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038401
Chunk: 38

Company: RING ENERGY, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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35 Outstanding, March 31, 20244,427,282 $1.77 Granted60,000 2.04 Forfeited or rescinded(66,101)1.43 Vested(303,797)2.74 Outstanding, June 30, 20244,117,384$1.70 Outstanding, December 31, 20243,817,128 $1.70 Granted3,691,373 1.31 Forfeited or rescinded— — Vested(1,983,465)1.75 Outstanding, March 31, 20255,525,036 $1.42 Granted76,177 0.92 Forfeited or rescinded(86,238)1.31 Vested(41,834)2.12 Outstanding, June 30, 20255,473,141$1.41 As of June 30, 2025, the Company had $4,763,815 of unrecognized compensation cost related to RSU grants that will be recognized over a weighted average period of 2.14 years. Grant activity for the six months ended June 30, 2025 was primarily RSU grants for the annual long-term incentive plan awards for employees. Grant activity for the three months ended June 30, 2025 was for a non-employee director.

33

Performance Stock UnitsA summary of the status of the performance stock unit ("PSU") grants as of June 30, 2025 and 2024, respectively, along with changes during the respective six month periods then ended are as follows:Performance Stock UnitsWeighted-Average GrantDate Fair ValueOutstanding, December 31, 20232,022,378 $3.11 Granted— — Forfeited or rescinded— — Vested— — Outstanding, March 31, 20242,022,378 $3.11 Granted1,378,378 $2.27 Forfeited or rescinded— $— Vested— $— Outstanding, June 30, 20243,400,756 $2.77 Outstanding, December 31, 20241,891,892 $2.47 Granted— — Forfeited or rescinded— — Vested—