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

Company: RING ENERGY, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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62,739 (1)Amount included in Lease operating expenses(2)Amount included in Depreciation, depletion and amortization(3)Amount included in Interest (expense)

22

NOTE 4 — EARNINGS PER SHARE INFORMATIONThe following table presents the calculation of the Company's basic and diluted earnings per share for the three and six months ended June 30, 2025 and 2024. For all dilutive securities, the treasury stock method of calculating the incremental shares is applied.For the Three Months EndedFor the Six Months EndedJune 30, 2025June 30, 2024June 30, 2025June 30, 2024Net Income$20,634,887 $22,418,994 $29,745,625 $27,934,371 Basic Weighted-Average Shares Outstanding206,522,356 197,976,721 202,964,856 197,684,638 Effect of dilutive securities:Stock options— — — — Restricted stock units341,611 1,872,895 852,082 1,477,377 Performance stock units113,760 534,997 250,931 643,290 Common warrants4,600 44,200 17,338 40,207 Diluted Weighted-Average Shares Outstanding206,982,327 200,428,813 204,085,207 199,845,512 Basic Earnings per Share$0.10 $0.11 $0.15 $0.14 Diluted Earnings per Share$0.10 $0.11 $0.15 $0.14 The following table presents the securities which were excluded from the Company's computation of diluted earnings per share for the three and six months ended June 30, 2025 and 2024, as their effect would have been anti-dilutive.For the Three Months EndedFor the Six Months EndedJune 30, 2025June 30, 2024June 30, 2025June 30, 2024Antidilutive securities:Stock options to purchase common stock65,500 65,50065,50067,533Unvested restricted stock units3,745,348 57,3632,598,851 28,681 Unvested performance stock units2,570,776 1,520