Ring Energy Announces Board and Executive Compensation Changes
Ticker: REI · Form: 8-K · Filed: Jul 3, 2024 · CIK: 1384195
| Field | Detail |
|---|---|
| Company | Ring Energy, Inc. (REI) |
| Form Type | 8-K |
| Filed Date | Jul 3, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $200 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, compensation
TL;DR
Ring Energy shakes up the board and executive pay structure effective July 1st.
AI Summary
Ring Energy, Inc. announced on July 1, 2024, a change in its board of directors and executive compensation arrangements. The filing details the departure of certain officers and the election of new directors, alongside updates to compensatory plans.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy, governance, and future financial performance.
Risk Assessment
Risk Level: medium — Changes in leadership and compensation can introduce uncertainty regarding future strategy and execution.
Key Players & Entities
- RING ENERGY, INC. (company) — Filer
- July 1, 2024 (date) — Date of earliest event reported
- Transglobal Mining Corp. (company) — Former company name
- Blanca Corp. (company) — Former company name
FAQ
What specific roles have seen departures or appointments?
The filing indicates a departure of certain officers and the election of new directors, but does not specify the exact roles in this summary.
When did these changes become effective?
The earliest event reported is dated July 1, 2024.
What is the company's primary business?
Ring Energy, Inc. is primarily involved in Crude Petroleum & Natural Gas extraction.
Where is Ring Energy, Inc. headquartered?
The company's business address is 1725 Hughes Landing Blvd., Suite 900, The Woodlands, TX 77380.
Has the company changed its name previously?
Yes, Ring Energy, Inc. was formerly known as Transglobal Mining Corp. (name change on 20070425) and Blanca Corp. (name change on 20061220).
Filing Stats: 725 words · 3 min read · ~2 pages · Grade level 10.8 · Accepted 2024-07-03 16:21:37
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value REI NYSE American Indicat
- $200 — ill be compensated at an hourly rate of $200. Additionally, Mr. Brooks is entitled t
Filing Documents
- rei-20240701.htm (8-K) — 31KB
- independentcontractoragree.htm (EX-10.1) — 51KB
- 0001628280-24-031110.txt ( ) — 219KB
- rei-20240701.xsd (EX-101.SCH) — 2KB
- rei-20240701_lab.xml (EX-101.LAB) — 22KB
- rei-20240701_pre.xml (EX-101.PRE) — 13KB
- rei-20240701_htm.xml (XML) — 3KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits . The following exhibits are included with this Current Report on Form 8-K: Exhibit No. Description 10.1# Consulting Agreement, dated July 1, 2024 by and between Ring Energy, Inc. and Stephen D. Brooks. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). # Certain portions of this exhibit have been redacted pursuant to Item 601(b)(10)(iv) of Regulation S-K. The Registrant agrees to furnish supplementally an unredacted copy of the exhibit to the Securities and Exchange Commission upon request. 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: July 3, 2024 By: /s/ Travis T. Thomas Travis T. Thomas Chief Financial Officer