Company: REI
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038401
Chunk: 108

Company: RING ENERGY, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 108
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 Exercised—— $— Exercisable, June 30, 202578,200$0.80 

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NOTE 11 — EMPLOYEE STOCK OPTIONS AND RESTRICTED STOCK UNITSShare-based compensation expense charged against income for share-based awards during the three and six months ended June 30, 2025 and 2024 was as follows. These amounts are included in General and administrative expense in the Condensed Statements of Operations.Three Months EndedSix Months EndedJune 30, 2025June 30, 2024June 30, 2025June 30, 2024Share-based compensation expense from:Employee stock options$— $— $— $— Restricted stock unit grants1,022,645 996,381 2,269,974 2,128,078 Performance stock unit awards329,194 1,081,397 772,823 1,673,532 Total share-based compensation$1,351,839 $2,077,778 $3,042,797 $3,801,610 In 2011, the Board of Directors (the "Board") of the Company approved and adopted a long-term incentive plan (the “2011 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 June 30, 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. At the 2025 Annual Meeting of Stockholders, the stockholders approved a second amendment to the 2021 Plan to increase the number of shares available under the 2021 Plan by 11.5 million. There were 11,511,061 shares available for grant as of June 30, 2025 under the 2021 Plan.

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Employee Stock OptionsA summary of the status of the stock options as