Company: REI
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-023254
Chunk: 70

Company: RING ENERGY, INC.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 70
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1 Plan”), which was subsequently approved and amended by the stockholders. There were no shares eligible for grant, either as stock options or as restricted stock, as of March 31, 2025.In 2021, the Board and Company stockholders approved and adopted the Ring Energy, Inc. 2021 Omnibus Incentive Plan (the “2021 Plan”). The 2021 Plan provides that the Company may grant options, stock appreciation rights, restricted shares, restricted stock units, performance-based awards, other share-based awards, other cash-based awards, or any combination of the foregoing. At the 2023 Annual Meeting of Stockholders, the stockholders approved an amendment to the 2021 Plan to increase the number of shares available under the 2021 Plan by 6.0 million. There were 1,625,756 shares available for grant as of March 31, 2025 under the 2021 Plan.

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Employee Stock OptionsA summary of the status of the stock options as of March 31, 2025 and 2024 and changes during the respective three 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 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 yearsThe intrinsic values were calculated using the closing price on March 31, 2025 of $1.15 and the closing price on March 31, 2024 of $1.96. As of March 31, 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 March 31, 2025 and 2024,