Ring Energy Elects New Directors, Adjusts Executive Pay

TL;DR

Ring Energy adds 2 directors, revises exec pay. McKinney's CEO salary now $450k.

AI Summary

Ring Energy, Inc. announced on April 16, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, David B. Wood and Robert L. Finley, to its Board. Additionally, the company entered into new employment agreements with its named executive officers, including an annual base salary of $450,000 for the Chief Executive Officer, Paul R. McKinney.

Why It Matters

Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: medium — Changes in board and executive compensation can introduce uncertainty regarding future strategy and leadership stability.

Key Numbers

• $450,000 — CEO Annual Base Salary (New employment agreement for Paul R. McKinney)

Key Players & Entities

• Ring Energy, Inc. (company) — Filer
• David B. Wood (person) — Newly Elected Director
• Robert L. Finley (person) — Newly Elected Director
• Paul R. McKinney (person) — CEO and Named Executive Officer
• $450,000 (dollar_amount) — CEO Annual Base Salary

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value REI NYSE American Indicat

Filing Documents

• rei-20240416.htm (8-K) — 26KB
• 0001628280-24-016951.txt ( ) — 149KB
• rei-20240416.xsd (EX-101.SCH) — 2KB
• rei-20240416_lab.xml (EX-101.LAB) — 22KB
• rei-20240416_pre.xml (EX-101.PRE) — 13KB
• rei-20240416_htm.xml (XML) — 3KB

From the Filing

rei-20240416 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________________________________________________________________________________________________________________________________________ FORM 8-K _____________________________________________________________________________________________________________________________________________________________________________ CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: April 16, 2024 (Date of earliest event reported) ______________________________________________________________________________________ RING ENERGY, INC. (Exact name of registrant as specified in its charter) _______________________________________________________________________________________________________ Nevada 001-36057 90-0406406 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 1725 Hughes Landing Blvd ., Suite 900 The Woodlands , TX 77380 (Address of principal executive offices) (Zip Code) ( 281 ) 397-3699 (Registrant's telephone number, including area code) Not Applicable. (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.001 par value REI NYSE American Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On April 16, 2024, Clayton E. Woodrum notified the Board of Directors (the "Board") of Ring Energy, Inc. (the "Company") of his intention to retire from the Board effective at the 2024 Annual Meeting of Stockholders of the Company (the "Annual Meeting") and to not stand for reelection to the Board. Mr. Woodrum will continue to serve as a director until the Annual Meeting. Mr. Woodrum's decision not to stand for reelection was not the result of any dispute or disagreement with the Company on any matter relating to its operations, policies, or practices. Also, on April 16, 2024, Roy Ben-Dor notified the Board of his intention to retire from the Board effective at the Annual Meeting and to not stand for reelection to the Board. Mr. Ben-Dor will continue to serve as a director until the Annual Meeting. Mr. Ben-Dor's decision not to stand for reelection was not the result of any dispute or disagreement with the Company on any matter relating to its operations, policies, or practices. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. RING ENERGY, INC. Date: April 19, 2024 By: /s/ Travis T. Thomas Travis T. Thomas Chief Financial Officer

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View this 8-K filing on SEC EDGAR