Ring Energy, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE INFORMATION

EARNINGS PER SHARE INFORMATION

3 Months Ended

Mar. 31, 2023

NOTE 4 — EARNINGS PER SHARE INFORMATION


	For the Three Months Ended
	March 31, 2023		March 31, 2022
Net Income	$	32,715,779	$	7,112,043
Basic Weighted-Average Shares Outstanding	177,984,323		100,192,562
Effect of dilutive securities:
Stock options	14,170		102,737
Restricted stock units	1,299,741		1,890,508
Performance stock units	232,055		107,928
Common warrants	10,608,680		21,710,443
Diluted Weighted-Average Shares Outstanding	190,138,969		124,004,178
Basic Earnings per Share	$	0.18	$	0.07
Diluted Earnings per Share	$	0.17	$	0.06

Stock options to purchase 70,500 and 70,500 shares of common stock were excluded from the computation of diluted earnings per share during the three months ended March 31, 2023 and 2022, respectively, as their effect would have been anti-dilutive. Also excluded from the computation of diluted earnings per share were 43,480 and 4,420 shares of unvested restricted stock units during the three months ended March 31, 2023 and 2022, respectively, as their effect would have been anti-dilutive. Unvested performance stock units of 1,428,380 and 673,833 were excluded from the computation of

diluted earnings per share during the three months ended March 31, 2023 and 2022, respectively, as their effect would have been anti-dilutive.