XML 29 R18.htm IDEA: XBRL DOCUMENT
v3.25.1

EMPLOYEE STOCK OPTIONS AND RESTRICTED STOCK UNITS | 3 Months Ended
--- | ---
Mar. 31, 2025
EMPLOYEE STOCK OPTIONS, RESTRICTED STOCK AWARD PLAN AND 401(k) [Abstract] |
EMPLOYEE STOCK OPTIONS AND RESTRICTED STOCK UNITS | NOTE 11 — EMPLOYEE STOCK OPTIONS AND RESTRICTED STOCK UNITS Share-based compensation expense charged against income for share-based awards during the three months ended March 31, 2025 and 2024 was as follows. These amounts are included in General and administrative expense in the Condensed Statements of Operations.
|  |  |  | Three Months Ended
|  |  |  |  |  | March 31, 2025 |  | March 31, 2024
Share-based compensation expense from: |  |  |  |  |  |  |  |
Employee stock options |  |  |  |  |  | $ | — |  |  | $ | — |
Restricted stock unit grants |  |  |  |  |  | 1,247,329 |  |  | 1,131,697 |
Performance stock unit awards |  |  |  |  |  | 443,629 |  |  | 592,135 |
Total share-based compensation |  |  |  |  |  | $ | 1,690,958 |  |  | $ | 1,723,832 |
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 March 31, 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. There were 1,625,756 shares available for grant as of March 31, 2025 under the 2021 Plan. Employee Stock Options A summary of the status of the stock options as of March 31, 2025 and 2024 and changes during the respective three month periods then ended are as follows:
| Options |  | Weighted- Average Exercise Price |  | Weighted-Average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding, December 31, 2023 | 70,500 |  | $ | 10.33 |  |  |  |  |
Granted | — |  | — |  |  |  |  |
Forfeited | — |  | — |  |  |  |  |
Expired | (5,000) |  | 5.50 |  |  |  |  |
Exercised | — |  | — |  |  |  |  |
Outstanding, March 31, 2024 | 65,500 |  | $ | 10.70 |  |  | 2.31 years |  | $ | — |
Exercisable, March 31, 2024 | 65,500 |  | $ | 10.70 |  |  | 2.31 years |  |
Outstanding, December 31, 2024 | 65,500 |  | $ | 10.70 |  |  |  |  |
Granted | — |  | — |  |  |  |  |
Forfeited | — |  | — |  |  |  |  |
Expired | — |  | — |  |  |  |  |
Exercised | — |  | — |  |  |  |  |
Outstanding, March 31, 2025 | 65,500 |  | $ | 10.70 |  |  | 1.31 years |  | $ | — |
Exercisable, March 31, 2025 | 65,500 |  | $ | 10.70 |  |  | 1.31 years |  |
The intrinsic values were calculated using the closing price on March 31, 2025 of $1.15 and the closing price on March 31, 2024 of $1.96. As of March 31, 2025, the Company had $0 of unrecognized compensation cost related to stock options. Restricted Stock Units A summary of the restricted stock unit ("RSU") activity as of March 31, 2025 and 2024, respectively, and changes during the respective three month periods then ended are as follows:
| Restricted Stock Units |  | Weighted- Average Grant Date Fair Value
Outstanding, December 31, 2023 | 3,148,226 |  |  | $ | 2.40 |
Granted | 2,647,970 |  |  | 1.30 |
Forfeited or rescinded | (26,802) |  |  | 1.30 |
Vested | (1,342,112) |  |  | 2.35 |
Outstanding, March 31, 2024 | 4,427,282 |  |  | $ | 1.77 |
Outstanding, December 31, 2024 | 3,817,128 |  |  | $ | 1.70 |
Granted | 3,691,373 |  |  | 1.31 |
Forfeited or rescinded | — |  |  | — |
Vested | (1,983,465) |  |  | 1.75 |
Outstanding, March 31, 2025 | 5,525,036 |  |  | $ | 1.42 |
As of March 31, 2025, the Company had $5,835,740 of unrecognized compensation cost related to RSU grants that will be recognized over a weighted average period of 2.35 years. Grant activity for the three months ended March 31, 2025 was primarily RSU for the annual long-term incentive plan awards for employees. Performance Stock Units A summary of the status of the performance stock unit ("PSU") grants as of March 31, 2025 and 2024, respectively, along with changes during the respective three month periods then ended are as follows:
| Performance Stock Units |  | Weighted- Average Grant Date Fair Value
Outstanding, December 31, 2023 | 2,022,378 |  |  | $ | 3.11 |
Granted | — |  |  | — |
Forfeited or rescinded | — |  |  | — |
Vested | — |  |  | — |
Outstanding, March 31, 2024 | 2,022,378 |  |  | $ | 3.11 |
Outstanding, December 31, 2024 | 1,891,892 |  |  | $ | 2.47 |
Granted | — |  |  | — |
Forfeited or rescinded | — |  |  | — |
Vested | — |  |  | — |
Outstanding, March 31, 2025 | 1,891,892 |  |  | $ | 2.47 |
As of March 31, 2025, the Company had $2,644,746 of unrecognized compensation cost related to the PSU awards that will be recognized over a weighted average period of 1.38 years.

X
- References No definition available. + Details
Name: | rei_EMPLOYEESTOCKOPTIONSRESTRICTEDSTOCKAWARDPLANAND401kAbstract
Namespace Prefix: | rei_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 710 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/710/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 712 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/712/tableOfContent Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/715/tableOfContent Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent + Details
Name: | us-gaap_CompensationAndEmployeeBenefitPlansTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration