Company: REI
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001628280-25-017570
Chunk: 42

Company: RING ENERGY, INC.
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 42
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 all of which are in the oil and natural gas exploration and production industry. The criteria utilized for determining the peer group are: (1) the same industry; (2) have a comparable enterprise value; (3) similar operational footprint; and (4) similar operational control (i.e. operated versus non-operated assets). The Compensation Committee, with input and advice from Meridian, typically reviews the peer group on an annual basis to ensure it remains appropriate year-over-year. The Compensation Committee considers the Company’s size relative to the peer group when benchmarking compensation relative to the peer group. The Compensation Committee also reviewed and considered oil and gas industry compensation surveys and related materials prepared and provided by Meridian.

Role of Management

The Compensation Committee considers input from our Chief Executive Officer in making determinations regarding our executive compensation program and the individual compensation of each of the NEOs. With the consent of our Compensation Committee, our Chairman and Chief Executive Officer consults with, and considers market-based data prepared by Meridian. The executive officers make recommendations to the Compensation Committee regarding potential objectives for our incentive compensation and provide information to the Compensation Committee regarding the performance of the Company for the Compensation Committee’s certification of the achievement of performance objectives. The Compensation Committee makes the final determination on all elements of NEO compensation.

### SAY-ON-PAY AND STOCKHOLDER ENGAGEMENT
On an on-going basis, the Compensation Committee evaluates our compensation policies and practices. As part of that process, the Compensation Committee considers the results of our annual stockholder advisory vote on executive compensation, commonly known as the “say-on-pay” vote. At our 2022 annual meeting, we were disappointed that less than a majority of the stockholder votes cast were in support of the say-on-pay proposal related to the compensation paid to the NEOs in 2021. Thereafter, we initiated extensive stockholder engagement to solicit feedback regarding our executive compensation programs and other related matters. At our 2024 annual meeting, approximately 81% of the votes cast were in support of the say-on-pay vote. While this represented an improvement over the prior year, we believe the approval percentage should be increased further and have refocused our efforts to increase say-on-pay stockholder approval.

Enhanced Stockholder Engagement Proces s - We continue to interact with our stockholders through a program that communicates with current stockholders, market participants and potential investors in a variety of forums including quarterly earnings discussions, investor conferences and in person investor meetings. One-on-one meetings are requested and held with institutional investors and large