Ring Energy, Inc. Definitive proxy statements

Definitive proxy statements

Pay vs Performance Disclosure

Pay vs Performance Disclosure

3 Months Ended

9 Months Ended

12 Months Ended

Dec. 31, 2020

Sep. 29, 2020

Dec. 31, 2023

USD ($)

Dec. 31, 2022

USD ($)

Dec. 31, 2021

USD ($)

Dec. 31, 2020

USD ($)

Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table


													VALUE OF INITIAL FIXED $100 INVESTMENT BASED ON:
FISCAL YEAR	SUMMARY COMPEN-SATION TABLE TOTAL FOR PEO (1)		COMPEN-SATION ACTUALLY PAID TO PEO (1)(2)		SUMMARY COMPEN-SATION TABLE TOTAL FOR PEO 2 (1)(3)		COMPEN-SATION ACTUALLY PAID TO PEO 2 (1)(3)		AVERAGE SUMMARY COMPEN-SATION TABLE TOTAL FOR NON-PEO NEOS (4)(5)-		AVERAGE COMPEN-SATION ACTUALLY PAID TO NON-PEO NEOS (4)(5)		TOTAL SHAREHOLDER RETURN (6)		PEER GROUP TOTAL SHAREHOLDER RETURN (6)		NET INCOME (7)		CROCE (%) (8)
(a)	(b)		(c)		(b)		(c)		(d)		(e)		(f)		(g)		(h)		(i)
2023	$	3,762,729	$	1,481,896	$	—	$	—	$	1,189,765	$	627,525	$	55.30	$	160.83	$	104,864,641	17.2	%
2022	$	3,718,193	$	3,338,519	$	—	$	—	$	1,260,139	$	1,183,597	$	93.18	$	154.88	$	138,635,025	20.7	%
2021	$	3,493,117	$	3,586,781	$	—	$	—	$	934,244	$	1,158,645	$	86.36	$	106.29	$	3,322,892	11.6	%
2020	$	493,000	$	486,970	$	293,333	$	(76,417)	$	280,255	$	98,100	$	25.00	$	63.42	$	(253,411,828)	9.3	%

Company Selected Measure Name

CROCE

Named Executive Officers, Footnote

Reflects the summary compensation table total compensation of (a) our current Chief Executive Officer, Paul D. McKinney, from his appointment on September 30, 2020 to present and (b) our former Chief Executive Officer, Kelly Hoffman, for prior periods.

Peer Group Issuers, Footnote

TSR is cumulative for the measurement periods beginning on December 31, 2019 and ending on December 31 of each of 2023, 2022, 2021, and 2020, respectively, calculated in accordance with Item 201(e) of Regulation S-K. The peer group for purposes of this table is the S&P Oil and Gas Exploration and Production Select Industry Index (“SPSIOP”), which is the same peer group as for the Shareholder Return Performance Presentation of the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.

Adjustment To PEO Compensation, Footnote


	PEO 1 (MR. McKINNEY)
FISCAL YEAR	2023
Summary Compensation Table Total	$	3,762,729
- Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year	(2,604,595)
+ Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year	1,708,654
+ Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years	(817,690)
+ Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year	—
+ Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year	(567,202)
- Fair Value as of Prior Fiscal Year-End of Option Awards and Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year	—
Compensation Actually Paid	$	1,481,896

Non-PEO NEO Average Total Compensation Amount

$ 1,189,765

$ 1,260,139

$ 934,244

$ 280,255

Non-PEO NEO Average Compensation Actually Paid Amount

$ 627,525

1,183,597

1,158,645

98,100

Adjustment to Non-PEO NEO Compensation Footnote


	NON-PEO NEOs
FISCAL YEAR	2023
Summary Compensation Table Total	$	1,189,765
- Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year	(566,215)
+ Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year	371,447
+ Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years	(204,422)
+ Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year	—
+ Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year	(163,050)
- Fair Value as of Prior Fiscal Year-End of Option Awards and Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year	—
Compensation Actually Paid	$	627,525

Compensation Actually Paid vs. Total Shareholder Return

Compensation Actually Paid vs. Net Income

Compensation Actually Paid vs. Company Selected Measure

Tabular List, Table


TOTAL SHAREHOLDER RETURN (TSR)			NET BOE PRODUCTION (SALES)
CASH RETURN ON CAPITAL EMPLOYED (CROCE)			NET LIFTING COSTS

Total Shareholder Return Amount

$ 55.30

93.18

86.36

25.00

Peer Group Total Shareholder Return Amount

160.83

154.88

106.29

63.42

Net Income (Loss)

$ 104,864,641

$ 138,635,025

$ 3,322,892

$ (253,411,828)

Company Selected Measure Amount

0.172

0.207

0.116

0.093

PEO Name

Paul D. McKinney

Kelly Hoffman

Paul D. McKinney

Additional 402(v) Disclosure

The dollar amounts reported in this column represent the amount of “Compensation Actually Paid” to Mr. McKinney (subsequent to September 30, 2020) as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to Mr. McKinney during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to Mr. McKinney’s total compensation for 2023 to determine the compensation actually paid:The dollar amounts reported in this column represent the amount of “Compensation Actually Paid” to Mr. Hoffman (prior to September 30, 2020) as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to Mr. Hoffman during 2020. The non-PEO NEOs included in this column are:


YEAR			NON-PEO NEOs
2023			Travis T. Thomas, Marinos C. Baghdati, Stephen D. Brooks and Alexander Dyes
2022			Travis T. Thomas, Marinos C. Baghdati, Stephen D. Brooks and Alexander Dyes
2021			Travis T. Thomas, Marinos C. Baghdati, Stephen D. Brooks, Alexander Dyes and William D. Broaddrick
2020			William D. Broaddrick, Stephen D. Brooks, David A. Fowler and Daniel D. Wilson

The dollar amounts reported in this column represent the average amount of “Compensation Actually Paid” to the Company’s NEOs as a group (excluding Mr. McKinney and Mr. Hoffman, where applicable) as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to such NEOs as a group during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to the average total compensation for the NEOs as a group (excluding Mr. McKinney) for 2023 to determine the compensation actually paid using the same methodology described above in footnotes (2) and (3): Reflects “Net Income” in the Company’s Statements of Operations included in the Company’s Annual Report on Form 10-K for each of the years ended December 31, 2023, 2022, 2021, and 2020.

Measure:: 1

Pay vs Performance Disclosure

Name

TOTAL SHAREHOLDER RETURN (TSR)

Measure:: 2

Pay vs Performance Disclosure

Name

CASH RETURN ON CAPITAL EMPLOYED (CROCE)

Non-GAAP Measure Description

The Company calculates “CROCE,” or Cash Return on Capital Employed, by dividing the Company's net cash provided by operating activities from its Statements of Cash Flows, excluding changes in working capital (referred to as Adjusted Cash Flows From Operations, or "ACFFO"), by the Company's average total debt and stockholders' equity for each calendar year, with average total debt and stockholders' equity being based on the simple average of such values as of the first and last day of the applicable calendar year. See Appendix A for additional information regarding non-GAAP financial measures, including a reconciliation of non-GAAP financial measures to the nearest comparable GAAP financial measures.

Measure:: 3