Company: REI
Filing Date: 2025-03-05
Form Type: 10-K
Source: 0001628280-25-010585
Chunk: 63

Company: RING ENERGY, INC.
Filing Date: 2025-03-05
Form: 10-K
Item: Item 8
Chunk 63
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641 Balance, December 31, 2023196,837,001$196,837 $795,834,675 $(9,448,612)$786,582,900 Restricted stock vested1,688,317 1,688 (1,688)— — Shares to cover tax withholdings for restricted stock vested(327,041)(327)327 — — Payments to cover tax withholdings for restricted stock vested, net— (919,249)— (919,249)Performance stock vested571,324 571 (571)— — Shares to cover tax withholdings for performance stock vested(208,223)(208)208 — — Share-based compensation— — 5,506,017 — 5,506,017 Net income— — — 67,470,314 67,470,314 Balance, December 31, 2024198,561,378$198,561 $800,419,719 $58,021,702 $858,639,982     

The accompanying notes are an integral part of these financial statements.

F-6

Table of ContentsRING ENERGY, INC.STATEMENTS OF CASH FLOWS

For the Years Ended December 31,202420232022Cash Flows From Operating ActivitiesNet income$67,470,314 $104,864,641 $138,635,025 Adjustments to reconcile net income to net cash provided by operating activities:Depreciation, depletion and amortization98,702,843 88,610,291 55,740,767 Asset retirement obligation accretion1,380,298 1,425,686 983,432 Amortization of deferred financing costs4,969,174 4,920,714 2,706,021 Share-based compensation5,506,017 8,833,425 7,162,231 Credit loss expense160,847 134,007 242,247 (Gain) loss on disposal of assets(89,693)— — Deferred income tax expense (benefit)19,935,413 (425,275)8,720,992 Excess tax expense (benefit) related to share-based compensation104,344 478,304 (312,268)(Gain) loss on derivative contracts2,365,917 (2,767,162