Ring Energy Sets 2024 Annual Meeting for May 23

Ticker: REI · Form: DEF 14A · Filed: Apr 16, 2024 · CIK: 1384195

Ring Energy, Inc. DEF 14A Filing Summary
FieldDetail
CompanyRing Energy, Inc. (REI)
Form TypeDEF 14A
Filed DateApr 16, 2024
Risk Levellow
Pages16
Reading Time19 min
Key Dollar Amounts$175 million
Sentimentneutral

Sentiment: neutral

Topics: proxy-statement, annual-meeting, governance

Related Tickers: REI

TL;DR

Ring Energy's 2024 shareholder meeting is May 23rd. Vote on directors & exec pay.

AI Summary

Ring Energy, Inc. will hold its 2024 Annual Meeting of Stockholders on May 23, 2024, at 10:00 a.m. Central Daylight Time in The Woodlands, TX. Stockholders of record as of March 28, 2024, are entitled to vote on proposals including the election of seven nominated directors and the approval of executive compensation.

Why It Matters

This filing outlines the key proposals shareholders will vote on, including director elections and executive compensation, which directly impact the company's governance and leadership.

Risk Assessment

Risk Level: low — This is a standard proxy statement detailing meeting logistics and proposals, with no immediate financial risks indicated.

Key Players & Entities

  • RING ENERGY, INC. (company) — Registrant
  • May 23, 2024 (date) — Annual Meeting Date
  • 10:00 a.m. Central Daylight Time (time) — Annual Meeting Time
  • 1725 Hughes Landing Blvd., Suite 900, The Woodlands, TX 77380 (location) — Annual Meeting Place
  • March 28, 2024 (date) — Record Date for Stockholders

FAQ

When is the 2024 Annual Meeting of Stockholders for Ring Energy, Inc.?

The 2024 Annual Meeting of Stockholders will be held on May 23, 2024.

What time is the Annual Meeting scheduled to begin?

The meeting is scheduled to begin at 10:00 a.m. Central Daylight Time.

Where will the Annual Meeting take place?

The Annual Meeting will be held at Ring's offices, located at 1725 Hughes Landing Blvd., Suite 900, The Woodlands, TX 77380.

What is the record date for determining which stockholders are entitled to vote?

The record date for stockholders entitled to vote is March 28, 2024.

What are the main proposals to be considered at the Annual Meeting?

The main proposals include electing seven nominated directors and approving executive compensation.

Filing Stats: 4,701 words · 19 min read · ~16 pages · Grade level 13.7 · Accepted 2024-04-16 17:00:59

Key Financial Figures

  • $175 million — e Cash Flow 1 . We also ended 2023 with $175 million of liquidity and a leverage ratio 1 of

Filing Documents

Executive Compensation Philosophy

Executive Compensation Philosophy 45 Say-on-Pay and Stockholder Engagement 46

Executive Compensation Program Elements For 2023

Executive Compensation Program Elements For 2023 47 Management Stock Ownership Guidelines 52 Tax & Risk Considerations in Overall Program 53

EXECUTIVE COMPENSATION Summary Compensation Table

EXECUTIVE COMPENSATION Summary Compensation Table 54 Employment Agreements 56 Grants of Plan-Based Awards During 202 3 58 Outstanding Equity Awards at 202 3 Fiscal Year-End 59 Option Exercises and Stock Vested 60 Pension Benefits and Nonqualified Deferred Compensation 60 Potential Payments Upon Termination or Change In Control 60 CEO Pay Ratio 64 Pay Versus Performance 65 2 2024 PROXY STATEMENT DIRECTOR COMPENSATION Director Compensation 70 OTHER COMPENSATION MATTERS Compensation Committee Report 73 Compensation Committee Interlocks and Insider Participation 73 RELATED PARTY TRANSACTIONS Transactions With Related Persons, Promoters and Certain Control Persons 74 BENEFICIAL OWNERSHIP Security Ownership of Certain Beneficial Owners and Management 75 PROPOSAL 2: NON-BINDING, ADVISORY VOTE TO APPROVE NAMED EXECUTIVE OFFICER COMPENSATION Summary 79 Board Recommendation on Proposal 79 PROPOSAL 3: RATIFICATION OF THE APPOINTMENT OF GRANT THORNTON LLP Summary 80 P ublic Accounting Fees 80 Board Recommendation on Proposal 81 Audit Committee Report 82 STOCKHOLDER PROPOSALS AND DIRECTOR NOMINATIONS FOR THE 2025 ANNUAL MEETING AND OTHER ITEMS Summary of Procedures For Submitting a Proposal or Nominating a Director 84 Other Business 84 Annual Report 85 APPENDIX A GAAP to Non-GAAP Reconciliations 86 3 RING ENERGY DEAR FELLOW STOCKHOLDERS, On behalf of the Board of Directors of Ring Energy, Inc., we are pleased to invite you to our 2024 Annual Meeting of Stockholders, which will take place on May 23, 2024 at 10:00 a.m. Central Daylight Time in our offices located at 1725 Hughes Landing Blvd., Suite 900, The Woodlands, Texas 77380. As you may know, we ended 2023 with record operational and financial results on multiple fronts. Year-over-year, we achieved a 47% increase in sales volumes, a 21% increase in Adjusted EBITDA 1 , and a 30% increase in Adjusted Free Cash Flow 1 . We also ended 2023 wit

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