rei-20260410

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934

(Amendment No. )

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Check the appropriate box:

o Preliminary Proxy Statement

o Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

x Definitive Proxy Statement

o Definitive Additional Materials

o Soliciting Material under § 240.14a-12

RING ENERGY, INC.

________________________________________________________________________________________________________

(Name of Registrant as Specified in its Charter)

________________________________________________________________________________________________________

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check all boxes that apply):

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o Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11.

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2026 PROXY STATEMENT

NOTICE OF ANNUAL MEETING

OF STOCKHOLDERS

The 2026 Annual Meeting of Stockholders (the “Annual Meeting”) of Ring Energy, Inc., a Nevada corporation (“Ring” or the “Company”), will be held on May 21, 2026, at 10:00 a.m., Central Daylight Time, in Ring’s offices, located at 1725 Hughes Landing Blvd., Suite 900, The Woodlands, TX 77380. You will be asked to consider and to approve the following proposals:

ANNUAL MEETING

OF STOCKHOLDERS

DATE: May 21, 2026

TIME: 10:00 a.m.

Central Daylight Time

PLACE:

1725 Hughes Landing Blvd.

Suite 900

The Woodlands, TX 77380

RECORD DATE FOR STOCKHOLDERS ENTITLED TO VOTE:

April 2, 2026

Elect Seven Nominated Directors Included in the Proxy Statement to Serve on our Board

Approve on a Non-Binding, Advisory Basis, the Compensation of our Named Executive Officers

Ratify the Appointment of Grant Thornton LLP as our Independent Registered Public Accounting Firm

This proxy statement and accompanying proxy card are being mailed to our stockholders on or about April 10, 2026. Our Annual Report on Form 10-K (the “Annual Report”) for the year ended December 31, 2025 is enclosed, but does not form any part of the materials for solicitation of proxies.

The Notice of Annual Meeting and Proxy Statement herein provide further information on the Company’s performance and corporate governance and describe the matters to be presented at the Annual Meeting. Only stockholders of record at the close of business on April 2, 2026 (the "Record Date") are entitled to notice of and to vote at the Annual Meeting. A list of stockholders entitled to vote at the Annual Meeting will be available for examination by stockholders at our offices during normal business hours for a period of ten calendar days prior to the Annual Meeting and will also be available during the Annual Meeting for inspection by our stockholders.

EVEN IF YOU PLAN TO ATTEND THE ANNUAL MEETING, PLEASE COMPLETE, SIGN, AND MAIL THE ENCLOSED PROXY CARD AS PROMPTLY AS POSSIBLE IN THE ACCOMPANYING ENVELOPE, OR VOTE YOUR SHARES USING THE TELEPHONE OR INTERNET VOTING INSTRUCTIONS PROVIDED.

We thank you for your continued support and look forward to seeing you at the Annual Meeting.

By Order of the Board of Directors,

/s/ Phillip B. Feiner

Phillip B. Feiner

Senior Vice President, General Counsel &

Corporate Secretary

The Woodlands, Texas

April 10, 2026

IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE STOCKHOLDER MEETING TO BE HELD ON May 21, 2026

The Notice of Annual Meeting, Proxy Statement, and Annual Report to Stockholders for the year ended December 31, 2025, are available at www.proxyvote.com.

RING ENERGY

TABLE OF CONTENTS


OVERVIEW	Joint Letter to Stockholders	4
	Our Company – Mission & Vision	6
	Our Company – Strengths and Strategic Priorities	7
	Questions and Answers About the 2026 Annual Meeting and Voting	9
	Our 2025 Performance Highlights	15
	Our Commitment to Environmental, Social and Governance (“ESG”)	16

PROPOSAL 1: ELECTION OF DIRECTORS	Summary	17
	Board Committees, Composition, & Experience and Director Bios	18
	Board Recommendation on Proposal	25

CORPORATE GOVERNANCE AND OUR BOARD	Corporate Governance Highlights	26
	Our Board	27
	Board Leadership Structure	27
	Lead Independent Director	27
	Annual Board Evaluation	28
	Director Orientation and Continuing Education	28
	Board Independence	29
	Board Risk Assessment and Control	29
	Insider Trading Policy	30
	Board Committees	30
	Director Nominations and Qualifications	33
	Board of Directors Diversity	34
	Communications With Our Board	34

EXECUTIVE OFFICERS	Executive Officer Bios	35

COMPENSATION DISCUSSION & ANALYSIS	Summary	39
	Overview of Executive Compensation	41
	Additional Compensation Policy Highlights	42
	Executive Compensation Philosophy	42
	Say-on-Pay and Stockholder Engagement	43
	Executive Compensation Program Elements For 2025	44
	Management Stock Ownership Guidelines	52
	Tax & Risk Considerations in Overall Program	52

EXECUTIVE COMPENSATION	Summary Compensation Table	54
	Grants of Plan-Based Awards During 2025	56
	Outstanding Equity Awards at 2025 Fiscal Year-End	57
	Option Exercises and Stock Vested	58
	Pension Benefits and Nonqualified Deferred Compensation	58
	Potential Payments Upon Termination or Change In Control	59
	CEO Pay Ratio	62
	Pay Versus Performance	63

2026 PROXY STATEMENT


DIRECTOR COMPENSATION	Director Compensation	68

OTHER COMPENSATION MATTERS	Compensation Committee Report	70
	Compensation Committee Interlocks and Insider Participation	70

RELATED PARTY TRANSACTIONS	Transactions With Related Persons, Promoters and Certain Control Persons	71

BENEFICIAL OWNERSHIP	Security Ownership of Certain Beneficial Owners and Management	72

PROPOSAL 2: NON-BINDING, ADVISORY VOTE TO APPROVE NAMED EXECUTIVE OFFICER COMPENSATION	Summary	74
	Board Recommendation on Proposal	74




PROPOSAL 3: RATIFICATION OF THE APPOINTMENT OF GRANT THORNTON LLP	Summary	75
	Public Accounting Fees	75
	Board Recommendation on Proposal	76
	Audit Committee Report	76

STOCKHOLDER PROPOSALS AND DIRECTOR NOMINATIONS FOR THE 2027 ANNUAL MEETING AND OTHER ITEMS	Summary of Procedures For Submitting a Proposal or Nominating a Director	78
	Other Business	78
	Annual Report	79

APPENDIX A	GAAP to Non-GAAP Reconciliations	80

RING ENERGY

Dear Fellow Stockholders, We look forward to welcoming you to our 2026 Annual Meeting of Stockholders. As we reflect on 2025, we are proud of how the Ring team continued to execute with discipline and focus during another year marked by commodity price volatility and industry uncertainty. Despite an 18% decline in realized pricing from 2024, we delivered solid operational and financial results, including record setting Adjusted Free Cash Flow.1 We strengthened our balance sheet and further advanced our long-term strategy.

In 2025, our operations remained resilient. Sales volumes reached a new Company record of 20,253 Boe per day, an increase of 3% year over year with oil production remaining essentially flat at 13,263 barrels per day. This consistent performance demonstrates the quality of our asset base, the reliability of our operations, and our team's ongoing commitment to safe, efficient execution. We also continued to expand and enhance our long-term development runway, ending the year with more than 10 years of drilling inventory and over 500 identified drilling locations, reinforcing the depth and durability of our assets.

Operational efficiency improved meaningfully during the year. Lifting costs averaged $10.73 per Boe, beating our original guidance by nearly 10%. Since closing the Lime Rock acquisition in March 2025, we have reduced LOE per Boe by 18%, generating approximately $1.4 million in monthly savings.2 In addition, we continued to optimize our development program by increasing the proportion of horizontal wells, which enhances capital efficiency and supports stronger well economics over time.

Financial performance remained strong. While we reported a net loss of $34.7 million due to a non-cash ceiling test impairment, our underlying business continued to perform well, generating Adjusted Net Income1 of $38.4 million and a record-setting $50.1 million of Adjusted Free Cash Flow,1 marking our 25th consecutive quarter of positive cash flow. We achieved these strong financial results while reducing capital spending by 35% year over year, reflecting our continued emphasis on capital efficiency.

We also made meaningful progress strengthening our balance sheet and liquidity. Since closing the Lime Rock acquisition in March 2025, we paid down $40 million of borrowings, reaffirmed our borrowing base at $585 million, and exited the year with approximately $166 million of liquidity and a leverage ratio of 2.20x. These metrics reinforce our disciplined approach to capital allocation and our commitment to reducing debt and improving financial flexibility.

Our 2025 results also reflect the benefits of our strategic focus on acquiring and developing high quality, low decline assets. Integration of the Lime Rock assets is now complete, and performance has exceeded expectations in terms of production, capital efficiency, and operating costs. In addition, we ended the year with 153.3 MMBoe of proved reserves — a 14% increase from year-end 2024 — driven by both organic development and contributions from our expanded Central Basin Platform position.

Through all of this, we remained committed to operating responsibly and safely. Our focus on environmental performance, operational integrity, and community engagement continues to guide our actions and support our long-term sustainability. We believe that executing with discipline — both operationally and financially — is essential to delivering durable value for our stockholders.

As we move into 2026, our priorities remain clear: maximize free cash flow generation, manage capital spending with discipline, strengthen the balance sheet, and pursue opportunities that enhance margins, scale, and long-

1 Adjusted Net Income and Adjusted Free Cash Flow are non-GAAP financial measures. See Appendix A for a reconciliation of these financial measures to our most directly comparable financial measure calculated in accordance with GAAP.

2 Based on the comparison of the pro forma lease operating expenses of Ring and Lime Rock during the six months prior to the closing date of the Lime Rock acquisition on March 31, 2025 and the last six months of the year ended December 31, 2025.

2026 PROXY STATEMENT

term returns. We are confident that our strategy, our asset base, and our team all position Ring well for continued success across commodity cycles.

On behalf of the Board of Directors, management, and all Ring employees, thank you for your support and trust. Your engagement and confidence in our strategy are essential to our long-term success. We encourage you to review this proxy statement and vote your shares promptly.

Best regards,



Paul D. McKinney, Chairman of the Board of Directors & Chief Executive Officer						Anthony B. Petrelli, Lead Independent Director

RING ENERGY

OUR COMPANY

Ring Energy, Inc. is a growth oriented independent energy company engaged in oil and natural gas development, production, acquisition and exploration of high-quality, oil and liquids rich assets in the Permian Basin.

OUR MISSION & VISION

Ring’s mission is to deliver competitive and sustainable returns to its stockholders by developing, acquiring, exploring for, and commercializing oil and natural gas resources which is vital to the world’s health and welfare. Successfully achieving our mission requires a firm commitment to operating safely in a socially responsible and environmentally friendly manner, while ensuring the Company conducts its business with honesty and integrity.

The key principles supporting Ring’s strategic vision are:

■Protecting the health, safety, and environment of our employees and the communities in which we work and operate;

■Focusing on the generation of free cash flow to improve and building a sustainable financial foundation through commodity cycles;

■Improving margins and driving value through rigorous capital discipline and continuous focus on reducing operating costs and improving operational efficiencies; and

■Focusing on maintaining a strong balance sheet by steadily paying down debt, divesting of non-core assets and growing our oil and gas reserves and production.

2026 PROXY STATEMENT

OUR STRENGTHS

•High quality asset base located in the Permian Basin, one of North America’s leading oil and gas producing regions characterized by relatively low declines and attractive margins;

•De-risked acreage position with over 10 years of drilling inventory of horizontal and vertical development potential;

•Concentrated acreage position with high net interests and a high degree of operational control;

•Experienced and proven management team with substantive technical and operational expertise; and

•Focused on free cash flow generation, strengthening our balance sheet, and pursuing competitive debt-adjusted per-share reserves and production growth.

OUR STRATEGIC PRIORITIES

Ring capitalizes on its low-risk, high-return asset base in the Permian Basin, which is one of the most prolific hydrocarbon producing regions in the U.S. Compared to unconventional plays, our assets have much lower initial year and subsequent production decline rates, which helps generate high rates of return and low breakeven economics.

The collective efforts of your management team are focused on creating stockholder value with Ring’s proven strategy. We are targeting strategic initiatives that we believe will position Ring for organic reserves growth and continued operational and financial success.

To accomplish our goals, we are committed to pursuing the following strategic priorities:

RING ENERGY

Attract and retain high-quality people because achieving our mission is only possible through our employees. It is critical to have compensation, development, and human resource programs that attract, retain and motivate the people we need to succeed.

Pursue operational excellence with a sense of urgency, deliver low cost, consistent, timely and efficient execution of our drilling campaigns, work programs and operations. This includes executing our operations in a safe and environmentally responsible manner, focusing on reducing our emissions, applying advanced technologies, improving capital efficiency, and continuously seeking ways to reduce our operating cash costs on a per barrel basis. This objective is a foundational aspect of our culture and future success.

Invest in high margin, high rate-of-return projects. This will allow us to profitably grow our production and reserve levels and maximize free cash flow generation. All projects compete for capital within our portfolio where the highest return projects are pursued.

Focus on generating free cash flow and strengthening our balance sheet by reducing debt through the use of excess cash from operations and potentially through proceeds from the sale of non-core assets. We believe remaining focused and disciplined in this regard will lead to meaningful returns for our stockholders and provide additional financial flexibility to manage potential future swings in commodity price cycles.

Pursue strategic acquisitions that maintain or reduce our break-even costs, as well as improve our margins and operating costs. Financial strategies associated with these efforts will focus on delivering competitive debt-adjusted per share returns to our stockholders on a sustainable basis.

2026 PROXY STATEMENT

QUESTIONS AND ANSWERS ABOUT

THE 2026 ANNUAL MEETING AND VOTING

WHAT IS THE PURPOSE OF THE ANNUAL MEETING?

At the Annual Meeting, our stockholders will act upon the matters outlined in the Notice, including (1) the election of seven directors named in this proxy statement to our Board, each for a term ending on the date of the 2027 annual meeting of stockholders or until their successors are duly elected and qualified (this proposal is referred to as the “Election of Directors”); (2) a non-binding, advisory vote to approve named executive officer ("NEO") compensation (this proposal is referred to as the “Advisory Vote on Executive Compensation”); (3) the ratification of the appointment of Grant Thornton LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2026 (this proposal is referred to as the “Ratification of Grant Thornton”); and (4) the transaction of such other business as may arise that can properly be conducted at the Annual Meeting or any adjournment or postponement thereof. Additionally, management will report on our performance during the last fiscal year and respond to appropriate questions from our stockholders.

WHAT IS A PROXY?

A proxy is another person that you legally designate to vote your stock. If you designate a person or entity as your proxy in a written document, such document is also called a proxy or a proxy card. All duly executed proxies received prior to the Annual Meeting will be voted in accordance with the choices specified thereon and, in connection with any other business that may properly come before the Annual Meeting, in the discretion of the persons named in the proxy.

WHAT IS A PROXY STATEMENT?

A proxy statement is a document that regulations of the United States Securities and Exchange Commission (the “SEC”) require that we make available to you when we ask you to sign a proxy card to vote your stock at an annual meeting of stockholders. This proxy statement describes matters on which we would like you, as a stockholder, to vote and provides you with information on the matters so that you can make an informed decision.

WHAT IS “HOUSEHOLDING”?

One copy of the Notice, this proxy statement, and the Annual Report (collectively, the “Proxy Materials”) will be sent to stockholders who share an address, unless they have notified us that they want to continue receiving multiple packages. This practice, known as “householding,” is designed to reduce duplicate mailings and save significant printing and postage costs. If you received a householded mailing this year and you would like to have additional copies of the Proxy Materials mailed to you or you would like to opt out of this practice for future mailings, we will promptly deliver such additional copies to you if you submit your request in writing to Ring Energy, Inc., Attention: Phillip B. Feiner, Corporate Secretary, Senior Vice President and General Counsel, 1725 Hughes Landing Blvd., Suite 900, The Woodlands, TX 77380, or by telephone by calling (281) 397-3699. You may also contact us in the same manner if you received multiple copies of the Proxy Materials and would prefer to receive a single copy in the future. The Proxy Materials are also available at: www.proxyvote.com.

RING ENERGY

WHAT SHOULD I DO IF I RECEIVE MORE THAN ONE SET OF VOTING MATERIALS?

Despite our efforts related to householding, you may receive more than one set of Proxy Materials, including multiple copies of the proxy statement and multiple proxy cards or voting instruction cards. For example, if you hold your shares in more than one brokerage account, you will receive a separate voting instruction card for each brokerage account in which you hold shares. Similarly, if you are a stockholder of record and hold shares in a brokerage account, you will receive a proxy card and a voting instruction card. Please complete, sign, date, and return each proxy card and voting instruction card that you receive to ensure that all your shares are voted at the Annual Meeting. You can also vote your shares over the phone or internet. Please see “How Do I Vote My Shares?” below for more information.

WHO IS ENTITLED TO NOTICE OF THE ANNUAL MEETING?

Governing laws as well as our governance documents require our Board to establish a record date in order to determine who is entitled to receive notice of, attend, and vote at the Annual Meeting, and any continuations, adjournments, or postponements thereof.

The record date for the determination of stockholders entitled to notice of and to vote at the Annual Meeting is the close of business on April 2, 2026 (the “Record Date”).

As of the Record Date, we had 209,395,110 shares of Common Stock outstanding. A list of all stockholders of record entitled to vote at our Annual Meeting is on file at our principal office located at 1725 Hughes Landing Blvd., Suite 900, The Woodlands, TX 77380, and will be available for inspection by stockholders at the Annual Meeting.

WHO IS ENTITLED TO VOTE AT THE ANNUAL MEETING?

Subject to the limitations set forth below, stockholders at the close of business on the Record Date may vote at the Annual Meeting. If you are a beneficial owner of shares of Common Stock, you must have a legal proxy from the stockholder of record to vote your shares at the Annual Meeting.

WHAT IS A QUORUM?

A quorum is the presence at the Annual Meeting, in person or by proxy, of the holders of at least one-third of the shares of our Common Stock outstanding and entitled to vote as of the Record Date. There must be a quorum for the Annual Meeting to be held. If a quorum is not present, the Annual Meeting may be adjourned until a quorum is reached. Proxies received but marked as abstentions or broker non-votes will be included in the calculation of votes considered to be present at the Annual Meeting.

WHAT ARE THE VOTING RIGHTS OF OUR STOCKHOLDERS?

Each holder of Common Stock is entitled to one vote per share of Common Stock on all matters to be acted upon at the Annual Meeting. Neither our Articles of Incorporation, nor our Bylaws (as amended, the “Bylaws”), allow for cumulative voting rights in the election of directors.

2026 PROXY STATEMENT

WHAT IS THE DIFFERENCE BETWEEN A STOCKHOLDER OF RECORD AND A “STREET NAME” HOLDER?

Most stockholders hold their shares through a broker, bank, or other nominee rather than directly in their own name. As summarized below, there are some distinctions between shares held of record and those owned in street name.

■Stockholder of Record. If your shares are registered directly in your name with Standard Registrar & Transfer Company, Inc., our transfer agent, you are considered the stockholder of record with respect to those shares. As the stockholder of record, you have the right to grant your voting proxy directly or to vote in person at the Annual Meeting.

■Street Name Stockholder. If your shares are held in a stock brokerage account or by a bank, fiduciary, or other nominee, you are considered the beneficial owner of shares held in “street name.” In this case, such broker, fiduciary, or other nominee is considered the stockholder of record for purposes of voting at the Annual Meeting. As the beneficial owner, you have the right to direct your broker, bank, or nominee how to vote and are also invited to attend the Annual Meeting. If you hold your shares through a broker, bank, or other nominee, follow the voting directions provided by your broker, bank, or other nominee to vote your shares. Since you are not the stockholder of record, you may not vote these shares in person at the Annual Meeting unless you obtain a signed proxy from the record holder giving you the right to vote the shares.

HOW DO I VOTE MY SHARES?

Stockholders of Record: Stockholders of record may vote their shares or submit a proxy to have their shares voted by one of the following methods:

■By Written Proxy. You may indicate your vote by completing, signing, and dating your proxy card and returning it in the enclosed reply envelope.

■In Person. You may vote in person at the Annual Meeting by completing a ballot; however, attending the Annual Meeting without completing a ballot will not count as a vote.

■By Phone. Use any touch-tone telephone to call 1-800-690-6903 to transmit your voting instructions up until 11:59 P.M. Eastern Time the day before the cut-off date or the meeting date. Have your proxy card in hand when you call and then follow the instructions.

■By Internet. Use the internet to access www.proxyvote.com to transmit your voting instructions and for electronic delivery of information up until 11:59 P.M. Eastern Time the day before the cut-off date or the meeting date. Have your proxy card in hand when you access the web site and follow the instructions to obtain your records and to create an electronic voting instruction form.

Street Name Stockholders: Street name stockholders may generally vote their shares or submit a proxy to have their shares voted by one of the following methods:

■By Voting Instruction Card. If you hold your shares in street name, your broker, bank, or other nominee will explain how you can access a voting instruction card for you to use in directing the broker, bank, or other nominee how to vote your shares.

■In Person with a Proxy from the Record Holder. You may vote in person at the Annual Meeting if you obtain a legal proxy from your broker, bank, or other nominee. Please consult the instruction card or other

RING ENERGY

information sent to you by your broker, bank, or other nominee to determine how to obtain a legal proxy in order to vote in person at the Annual Meeting.

If you are a stockholder of record, your shares will be voted by the management proxy holder in accordance with the instructions on the proxy card you submit. For stockholders who have their shares voted by submitting a proxy, the management proxy holder will vote all shares represented by such valid proxies as our Board recommends, unless a stockholder appropriately specifies otherwise.

CAN I REVOKE MY PROXY OR CHANGE MY VOTE?

Yes. If you are a stockholder of record, you can revoke your proxy at any time before it is voted at the Annual Meeting by doing one of the following:

■Submitting written notice of revocation stating that you would like to revoke your proxy to Ring Energy, Inc., Attention: Phillip B. Feiner, Corporate Secretary, Senior Vice President and General Counsel, 1725 Hughes Landing Blvd., Suite 900, The Woodlands, TX 77380, which must be received prior to the Annual Meeting;

■Completing, signing, and dating another proxy card with new voting instructions and returning it by mail to Ring Energy, Inc., Attention: Phillip B. Feiner, Corporate Secretary, Senior Vice President and General Counsel, 1725 Hughes Landing Blvd., Suite 900, The Woodlands, TX 77380 in time to be received, in which case the later submitted proxy will be recorded and earlier proxy revoked; or

■Attending the Annual Meeting, notifying the inspector of elections that you wish to revoke your proxy, and voting your shares in person at the Annual Meeting. Attendance at the Annual Meeting without submitting a ballot to vote your shares will not revoke or change your vote.

If you are a beneficial or street name stockholder, you should follow the directions provided by your broker, bank, or other nominee to revoke your voting instructions or otherwise change your vote before the applicable deadline. You may also vote in person at the Annual Meeting if you obtain a legal proxy from your broker, bank, or other nominee as described in “How Do I Vote My Shares?” above.

WHAT ARE ABSTENTIONS AND BROKER NON-VOTES?

An abstention occurs when the beneficial owner of shares, or a broker, bank, or other nominee holding shares for a beneficial owner, is present, in person or by proxy, and entitled to vote at a stockholder meeting, but fails to vote or voluntarily withholds its vote for any of the matters upon which the stockholders are voting.

If you are a beneficial owner and hold your shares in “street name,” you will receive instructions from your broker, bank, or other nominee describing how to vote your shares. If you do not instruct your broker or nominee how to vote your shares, they may vote your shares as they decide as to each matter for which they have discretionary authority under the rules of the NYSE American LLC (the “NYSE American”). There are non-discretionary matters for which brokers, banks, and other nominees do not have discretionary authority to vote unless they receive timely instructions from you. If a broker, bank, or other nominee does not have discretion to vote on a particular matter and you have not given timely instructions on how the broker, banker, or other nominee should vote your shares, then the broker, bank, or other nominee indicates it does not have authority to vote such shares on its proxy and a “broker non-vote” results. Although any broker non-vote would be counted as present at the Annual Meeting for purposes of determining a quorum, it would be treated as not entitled to vote with respect to non-discretionary matters.

2026 PROXY STATEMENT

If your shares are held in street name and you do not give voting instructions, the record holder will not be permitted to vote your shares with respect to Proposal 1 (Election of Directors) and Proposal 2 (Advisory Vote on Executive Compensation), and your shares will be considered broker non-votes with respect to these proposals. If your shares are held in street name and you do not give voting instructions, the record holder will have discretionary authority to vote your shares with respect to Proposal 3 (Ratification of Grant Thornton).

WHAT VOTE IS REQUIRED FOR THE PROPOSALS TO BE APPROVED?

■Proposal 1 (Election of Directors): To be elected, each nominee for election as a director must receive the affirmative vote of a plurality of the votes cast by the holders of our Common Stock, present in person or represented by proxy at the Annual Meeting and entitled to vote on the proposal. The director nominees who receive the most votes will be elected. Votes may be cast in favor of or withheld from the election of each nominee. Abstentions and broker non-votes will have no effect on the outcome of this proposal.

■Proposal 2 (Executive Compensation): To consider and vote upon, on a non-binding, advisory basis, a resolution to approve the compensation of our named executive officers as disclosed pursuant to the compensation disclosure rules of the SEC. This advisory vote will be approved if it receives the affirmative vote of the holders of a majority of the votes cast by the holders of our Common Stock present in person or represented by proxy at the Annual Meeting and entitled to vote thereon. Broker non-votes and abstentions will not affect the outcome of this proposal.

■Proposal 3 (Ratification of Grant Thornton): Ratification of the appointment of Grant Thornton LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2026, requires the affirmative vote of the holders of a majority of the votes cast by the holders of our Common Stock present in person or represented by proxy at the Annual Meeting and entitled to vote thereon. Brokers will have discretionary authority to vote on Proposal 3 and, accordingly, there will be no broker non-votes for this proposal. Abstentions will not affect the outcome of this proposal.

HOW DOES THE BOARD RECOMMEND THAT I VOTE?

Our Board unanimously recommends a vote:

■FOR each of the nominees for director;

■FOR non-binding, advisory approval of named executive officer compensation; and

■FOR the ratification of the appointment of Grant Thornton LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2026.

WHAT HAPPENS IF I PROVIDE MY SIGNED PROXY BUT DO NOT SPECIFY HOW I WANT MAY SHARES TO BE VOTED, OR IF ADDITIONAL PROPOSALS ARE PRESENTED AT THE ANNUAL MEETING?

If you provide us your signed and dated proxy but do not specify how to vote, we will vote your shares as follows:

Proposal 1. FOR the election of each director nominee;

Proposal 2. FOR the approval, on an advisory basis, of the compensation of our named executive officers; and

Proposal 3. FOR the ratification of the appointment of Grant Thornton LLP as the Company’s independent registered public accounting firm for the year ending December 31, 2026.

RING ENERGY

As of the date of this proxy statement, we do not expect any additional matters to be presented for a vote at the Annual Meeting. If you grant a proxy, the proxy holder will have the discretion to vote your shares on any additional matters properly presented for a vote at the Annual Meeting.

WHO WILL BEAR THE COST OF SOLICITING VOTES FOR THE ANNUAL MEETING?

The Board is providing these Proxy Materials to you in connection with the solicitation by the Board of proxies to be voted at the Annual Meeting. We will bear all expenses of soliciting proxies. We have engaged Broadridge Financial Solutions, Inc. to aid in the distribution of proxy materials and to provide voting and tabulation services for the Annual Meeting. Directors, officers, and employees will not be additionally compensated but may be reimbursed for reasonable out-of-pocket expenses in connection with any solicitation. In addition, we may reimburse brokerage firms, custodians, nominees, fiduciaries, and other persons representing beneficial owners of our Common Stock for their reasonable expenses in forwarding solicitation material to such beneficial owners.

MAY I PROPOSE ACTIONS FOR CONSIDERATION AT THE 2027 ANNUAL MEETING OF STOCKHOLDERS OR NOMINATE INDIVIDUALS TO SERVE AS DIRECTORS?

You may submit proposals for consideration at future stockholder meetings, including director nominations. Please read “Stockholder Proposals and Director Nominations for the 2027 Annual Meeting” for information regarding the submission of stockholder proposals and director nominations for consideration at next year’s annual meeting.

2026 PROXY STATEMENT

OUR 2025 PERFORMANCE HIGHLIGHTS

2025 was a year marked by volatile commodity prices in the oil and gas sector. The averaged realized per Boe price for 2025 was down 18% year-over-year. In response, we reduced the amount of capital deployed in our operations by targeting the most financially compelling prospects and increasing our operational efficiencies. As a result, despite commodity pricing challenges, our multi-faceted initiatives throughout 2025 drove our strong financial performance for the year. Key highlights included:


20,253 Boe/D						$34.7 MM
Net Sales per day						Net loss

$38.4 MM						$50.1 MM
Adjusted Net Income1						Adjusted Free Cash Flow1

$98.2 MM						$10.73
Capital expenditures						Lease Operating Expenses per BOE2

Through our strategic efforts designed to drive financial stability and improve the balance sheet, we:



Increased production (Boe/d) by 3% from 2024 levels, yielding record annual production of 20,253 Boe/d	Decreased Lease Operating Expenses (LOE) to $10.73 per Boe in 2025 from $10.89 per Boe in 2024	Successfully drilled and completed 18 wells



Increased adjusted free cash flow1 by 15%, yielding $50.1 million, which is a Company record that has allowed us to remain cash flow positive for 25 consecutive quarters			Paid down $40 million of debt since the closing of the Lime Rock Acquisition on March 31, 2025

Despite oil prices being down 15% year-over-year, we ended 2025 with proved reserves of 153.3 million barrels of oil equivalent (“MMBoe”) and a present value discounted at 10% ("PV-10")1 of $1.3 billion, using SEC pricing. This represents a 14% increase in proved reserves year-over-year. Proved developed reserves were 103.8 MMBoe with a PV-10 of $1.0 billion. This means that despite the downturn in oil prices and our reduction in capital deployed due to this commodity price downturn, we not only replaced our reserves, we grew them.

(1) A non-GAAP financial measure; see Appendix A for reconciliations to the most comparable GAAP financial measures.

(2) Calculated as lease operating expenses divided by total barrels of oil equivalent sold during the same period.

RING ENERGY

OUR COMMITMENT TO ENVIRONMENTAL, SOCIAL AND GOVERNANCE (“ESG”)

We are focused on creating long-term value for our stockholders and fostering a culture that is steadfast on environmental sustainability, operational safety, social responsibility and sound corporate governance.

In 2021, we created an ESG Task Force, charged with the responsibility to monitor the Company’s adherence to our sustainability / ESG standards and communicate findings on an ongoing basis to our CEO and the Board. Since 2021, we have annually published formal sustainability reports, and we are pleased to present our 2025 edition. We believe these reports clearly highlight the Company’s targeted efforts to disclose and enhance our sustainability performance record over time. In addition, in this report we discuss our plans to drive further alignment with the various reporting frameworks. Our 2025 Sustainability Report may be found on our website at https://ringenergy.com/sustainability. The information on, or that can be accessed through our website, is not incorporated by reference into this proxy statement and should not be considered part of this proxy statement.


ENVIRONMENTAL			As we focus on meeting the growing demand for affordable and responsible energy, we are committed to protecting and preserving the environment in all aspects of our business, including production operations, well work programs, and decommissioning activities. Our policies and procedures are designed to maintain strict compliance with all federal, state and local regulations, and we expect our contractors to have similar programs in place.
SOCIAL			To build a sustainable business with positive impacts on society, we strive to attract a strong team with a diverse set of skills and experience. Doing so involves providing a culture of innovation and appreciation for our team, as well as an attractive compensation and comprehensive benefits program. We are also committed to continuously providing an inclusive, safe and secure work environment where our employees can be respected, valued, and successful in pursuing their goals, all while contributing to the Company’s success. We will continue to promote honesty and integrity in all interactions with our employees and actively support the communities in which we operate with both our time and resources. We recognize and appreciate the ongoing efforts of our employees in their personal commitments from both a time and financial perspective in enhancing the quality of life in our local communities.
GOVERNANCE			We seek to operate our business responsibly and in a manner aligned with the interest of its stakeholders and applicable legal and ethical standards. In this effort, the Company leverages sound corporate governance practices that promote accountability and good decision making, including our efforts to integrate sustainable business practices that promote positive results. Our Board and its committees are responsible for our strategy and governance. The Company's fundamental policy is to conduct our business in accordance with applicable legal and ethical standards, and with honesty and integrity. We expect all employees across the organization to exemplify these principles as they conduct their work activities and appreciate their collective efforts in this regard. In support of our efforts, we have adopted fundamental governance policies applicable to our team members and others with whom we do business.

2026 PROXY STATEMENT

PROPOSAL 1:
ELECTION OF DIRECTORS

At the Annual Meeting, the stockholders will elect seven directors to serve on our Board until the 2027 annual meeting or until their successors are duly elected and qualified. Upon the recommendation of the NESG Committee, our Board has nominated as directors the following individuals, all of whom are presently serving as a director.

DIRECTORS

The following table sets forth the names, ages, and titles, as of April 10, 2026, of each of our directors:


NAME	AGE	POSITION
Management Director
Paul D. McKinney	67	Chairman of the Board of Directors and Chief Executive Officer

Independent Directors
Anthony B. Petrelli	73	Lead Director
John A. Crum	74	Director
David S. Habachy	50	Director
Richard E. Harris	73	Director
Thomas L. Mitchell	65	Director
Carla T. Tharp	62	Director

All of the seven nominees are currently directors on our Board. Mr. Petrelli joined the Board in January 2013. Messrs. McKinney, Mitchell, Crum and Harris joined the Board in October 2020. Mr. Habachy joined the Board in September 2022. Ms. Tharp joined the Board in April 2025.

Each nominee has consented to being named as a nominee in this proxy statement and has indicated a willingness to serve on our Board if elected. Stockholders may not cumulate their votes in the election of our directors. We have no reason to believe that any of the nominees will be unable or unwilling to serve if elected; however, if a nominee should become unable or unwilling to serve for any reason, proxies may be voted for another person nominated as a substitute by our Board.

RING ENERGY

BOARD COMMITTEES

Audit Committee

Compensation Committee

Nominating, Environmental, Social, and Governance Committee

Committee Chairperson

Lead Independent Director

BOARD COMPOSITION AND EXPERIENCE


6 MEN 1 WOMAN DIVERSITY BY GENDER
6 INDEPENDENT 1 NOT INDEPENDENT DIVERSITY BY INDEPENDENCE
DIVERSITY BY TENURE Years
DIVERSITY BY AGE Average Age: 66

2026 PROXY STATEMENT


			Paul D. McKinney joined Ring as Chairman and Chief Executive Officer on October 1, 2020. Prior to joining the Company, he was President, CEO and Director of SandRidge Energy, Inc. (NYSE:SD) (“SandRidge”) from January 2019 to December 2019. Prior to SandRidge, Mr. McKinney was President and Chief Operating Officer of Yuma Energy, Inc. (NYSE American:YUMA)(“Yuma”) since April 2017 after serving as Yuma’s Executive Vice President and Chief Operating Officer since October 2014. Mr. McKinney served as a petroleum engineering consultant for Yuma and Yuma’s predecessor from June 2014 to October 2014. Yuma filed for protection under federal bankruptcy laws in April 2020. Mr. McKinney served as Region Vice President, Gulf Coast Onshore, for Apache Corporation (NYSE:APA)(“Apache”) from 2010 through 2013, where he was responsible for the development and all operational aspects of the Gulf Coast region for Apache. Prior to his role as Region Vice President, Mr. McKinney was Manager, Corporate Reservoir Engineering, for Apache from 2007 through 2010. From 2006 through 2007, Mr. McKinney was Vice President and Director, Acquisitions & Divestitures for Tristone Capital, Inc. Mr. McKinney commenced his career with Anadarko Petroleum Corporation (NYSE:APC)(“Anadarko”) and held various positions with Anadarko over a 23 year period from 1983 to 2006, including his last role as Vice President of Reservoir Engineering, Anadarko Canada Corporation. From July 2017 to December 2021, Mr. McKinney was a member of the board of directors for Pro-Ject Holdings, LLC a privately owned oil field chemical services company. He co-authored Advanced Reservoir Engineering, Gulf Professional Publishing, Elsevier, and Society of Petroleum Engineers paper number SPE-75708-MS: Applied Reservoir Characterization for Maximizing Reserve Growth and Profitability in Tight Gas Sands: A Paradigm Shift in Development Strategies for Low-Permeability Gas Reservoirs. Mr. McKinney entered the United States Air Force upon graduating from high school and continued in the United States Air Force Reserves while attending college. Mr. McKinney attended Louisiana Tech University and graduated with a Bachelor of Science degree in Petroleum Engineering in 1983. Effective October 1, 2020, Mr. McKinney was appointed to the Board to fill a vacancy created from the resignation of prior directors. At that time, Mr. McKinney was appointed as Chairman of the Board and as Chief Executive Officer. The particular experience, qualifications, attributes, and skills that led our Board to conclude that Mr. McKinney should serve as director include his over 40 years of experience in the oil and gas industry; his extensive experience in advanced reservoir engineering and economic evaluations, strategic planning, and pursuing strategic transactions; his corporate governance, compliance, and risk management experience; and his experience as a director of public and private companies.
Paul D. McKinney Chairman of the Board of Directors and Chief Executive Officer Age: 67 Director Since: 2020

RING ENERGY

Anthony B. Petrelli has been a director of Ring since 2013. From 2010 to 2022, he served as President, Chairman and Director of Investment Banking Services of NTB Financial Corporation, a Denver, Colorado based financial services firm founded in 1977. Since the beginning of 2023, Mr. Petrelli has served as a registered representative and financial consultant with Momentum Independent Network, a FINRA member firm.

Beginning his career in 1972 in the investment industry, Mr. Petrelli has extensive experience in the areas of corporate finance, underwriting, management, operations, sales, and trading. He has served on numerous regulatory and industry committees including service on the FINRA (previously “NASD”) Corporate Finance Committee, FINRA National Adjudicatory Council (Vice Chairman), FINRA Small Firm Advisory Board, and Chairman of the FINRA District Business Conduct Committee for District 3. Mr. Petrelli has also served as an Arbitrator for FINRA dispute resolution. Additionally, since 2016 Mr. Petrelli has served as a director and member of the audit committee for Sensus Healthcare, Inc. (NASDAQ:SRTS), a medical device company. He has also served on several other public company boards including director and member of the audit committee of Arena Resources Inc. (NYSE:ARD), an oil and gas exploration, development and production company, and director of Natural Gas Services Group (NYSE:NGS), a provider of natural gas compression equipment and services to the energy industry. Mr. Petrelli has also served as an advisory director on several other public company boards.

In addition to his career in the investment industry, Mr. Petrelli served on the board of directors of Southwest Counseling Associates, a Denver, Colorado based professional counseling firm. Mr. Petrelli established Equinox Counseling LLC in 2012, and is a Licensed Professional Counselor (LPC), a National Certified Counselor (NCC) and an Approved Clinical Supervisor (ACS). Mr. Petrelli received his Bachelor of Science degree in Business (Finance) and his Master of Business Administration (MBA) degree from the University of Colorado. In addition, he received his Master of Arts degree in Counseling from Denver Seminary. Mr. Petrelli has also received a CERT certificate in Cybersecurity Oversight from Carnegie Mellon University Software Engineering Institute.

The particular experience, qualifications, attributes, and skills that led our Board to conclude that Mr. Petrelli should serve as director include his experience and expertise in financial and business matters with significant involvement in corporate governance and financial matters; his service on the FINRA Corporate Finance Committee, the NASD Small Firm Advisory Board and as Chairman of the FINRA District Business Conduct Committee; and his board experience.

Anthony B. Petrelli

Lead Independent Director

Age: 73

Director Since: 2013

Board Committees:

2026 PROXY STATEMENT

John A. Crum is managing partner of JAC Energy Partners, LLC, formed to provide advice to companies and individual investors in oil and gas exploration and production. He has been involved with worldwide oil and gas development for more than 50 years. Mr. Crum currently serves as a director for: Forty Acres Energy, LLC, an oil company developing Permian Basin waterflood assets. From 2011 to 2014, he served as Chief Executive Officer and a Director of Midstates Petroleum Company Inc. (NYSE:MPO).

From 1995 to 2011, Mr. Crum served in a variety of executive roles for Apache Corporation (NYSE:APA), including Co-Chief Operating Officer and President, North America, President Apache Canada Ltd., Managing Director Apache North Sea (UK), managing Director Apache Energy Ltd. (Australia), and Executive Vice President for Eurasia and worldwide new ventures. Earlier in his career, Mr. Crum held positions of responsibility at Aquila Energy Corporation, Pacific Enterprises Oil Company, and Southland Royalty Company. He began his career with Conoco in 1975.

He has previously served as a director of several public and private companies including the midstream MLP, Midcoast Energy Partners, LP; exploration and production company, Crestone Peak Resources; rotorcraft services supplier, CHC Helicopter; and for the biofuels technology company, Coskata Inc. Mr. Crum has been active with industry groups serving on the boards of the Australian Petroleum Production and Exploration Association (APPEA), UK Offshore Operators Association (UKOOA), and Canadian Association of Petroleum Producers (CAPP) during assignments in those countries. He holds a Bachelor of Science degree in petroleum engineering from the New Mexico Institute of Mining and Technology.

The particular experience, qualifications, attributes, and skills that led our Board to conclude that Mr. Crum should serve as a director include his significant worldwide oil and gas experience; and his prior executive and Board experience.

John A. Crum

Independent Director

Age: 74

Director Since: 2020

Board Committees:

RING ENERGY

David S. Habachy currently serves as Managing Partner of Covalence Investment Partners. Prior to this, Mr. Habachy served as a Managing Director on the energy team of Warburg Pincus from 2017 until July 2022. Previously, Mr. Habachy served as Managing Director and member of the Investment Committee of the Kayne Anderson Energy Funds. Additionally, Mr. Habachy served on numerous boards of oil and gas E&P domestic and international companies during his tenure in private equity. Prior to entering into private equity in 2008, Mr. Habachy spent 10 years in asset management, operations and consulting in the upstream E&P business. He started his petroleum engineering career at Arco/Vastar in 1998. Mr. Habachy previously served on the Board of Directors of Earthstone Energy, Inc.

Additionally, Mr. Habachy currently serves on the Investment Committee Board, Finance Committee Board, and the Board of Directors for Memorial Hermann Health System and previously served on the Houston Producers’ Forum Board. Mr. Habachy holds a B.S. in Chemical Engineering and an MBA degree with George Kozmetsky highest honors distinction from The University of Texas at Austin.

The particular experience, qualifications, attributes, and skills that led our Board to conclude that Mr. Habachy should serve as a director include his extensive experience in the oil and gas industry, including serving on the boards of private oil and gas exploration and production companies, and his serving as a managing director at Warburg makes him uniquely positioned to provide the Board with insight and advice on a full range of strategic, financial and governance matters.

David S. Habachy

Independent Director

Age: 50

Director Since: 2022

Board Committees:

2026 PROXY STATEMENT

Richard E. Harris began his corporate career in 1981, joining The Standard Oil Company of Ohio (“SOHIO”) in the Treasury Department. SOHIO was acquired by British Petroleum plc (“BP”) in 1987. Mr. Harris continued to be assigned challenging positions with increasing responsibility within BP Finance and BP America Finance. Mr. Harris’ achievements earned him a two year assignment in Belgium as a member of a team charged with integrating finance functions across Europe into BP Oil Europe in Brussels. In 1995, Mr. Harris left BP to join Compaq Computer Corporation in a newly created position where Mr. Harris developed and enhanced the company’s global capabilities in corporate finance, financial planning, M&A pre-close analysis and post close evaluation as well as global treasury management. Compaq promoted Mr. Harris to Assistant Treasurer, Global Treasury in 1999.

In 2003, Mr. Harris joined Cummins Inc.’s executive team as Vice President, Treasurer and led initiatives to develop best in class global treasury processes and procedures. Mr. Harris was also secretary of the Finance Committee of the Cummins Board of Directors and collaborated with the Board members on a frequent basis. Mr. Harris established a world class global treasury organization which supported the Cummins’ businesses in 198 countries worldwide. Mr. Harris was promoted to Vice President, Chief Investment Officer in 2008. Mr. Harris’ team successfully developed, implemented and provided oversight for processes to source, evaluate, and execute the company’s strategic acquisitions, investments, and joint ventures. In 2015, Mr. Harris retired to Austin, Texas and relocated to Southeast Texas in January, 2022. Mr. Harris received a Bachelor of Science in Mathematics and Master of Business Administration from John Carroll University.

The particular experience, qualifications, attributes, and skills that led our Board to conclude that Mr. Harris should serve as a director include his significant worldwide business experience; and his prior executive and Board experience.

Richard E. Harris

Independent Director

Age: 73

Director Since: 2020

Board Committees:

RING ENERGY

Thomas L. Mitchell is a strategic finance leader with a record of driving growth in energy business models as the chief financial officer of both large and small companies in the oil and gas industry. He has had a career of strong Fortune 500 experience with exploration and production companies, and broad energy exposure with offshore drilling and midstream gathering and marketing companies. In his last position as EVP and Chief Financial Officer of Devon Energy Corporation (NYSE:DVN) from 2014 to 2017, Mr. Mitchell led the finance and business development organizations, and also helped the company successfully strengthen its asset quality through strategic acquisitions. Previously, Mr. Mitchell served as EVP and Chief Financial Officer and a member of the board of directors of Midstates Petroleum Company (now NYSE:AMPY), a private equity-funded exploration and production company. While there, Mr. Mitchell helped lead the initial public offering listing of the company on the New York Stock Exchange in 2012. From November 2006 to September 2011, Mr. Mitchell was the Senior Vice President, Chief Financial Officer of Noble Corporation (NASDAQ:NEBLQ), a publicly-held offshore drilling contractor for the oil and gas industry.

Following his formal education, Mr. Mitchell began his career in public accounting with Arthur Andersen & Co. where he practiced as a CPA (currently inactive), then, in 1989 entered the oil and gas industry at Apache Corporation (NYSE:APA) where he spent eighteen years in various finance and commercial roles, the last being Vice President and Controller.

Mr. Mitchell previously served on the board of directors of EPIC Midstream Holdings GP, LLC, a private midstream crude and NGL infrastructure company, Hines Global REIT, Inc., a public real estate investment trust, Sundance Energy, Inc. (OTC MKTS:SNDEQ), a public exploration and production company, and EnLink Midstream Partners, LP and EnLink Midstream, LLC (NYSE:ENLC). Mr. Mitchell graduated from Bob Jones University with a Bachelor of Science in Accounting.

The particular experience, qualifications, attributes, and skills that led our Board to conclude that Mr. Mitchell should serve as a director include his significant financial background; his public accounting experience; his prior performance of chief financial officer functions for both public and private companies; and his board experience.

Thomas L. Mitchell

Independent Director

Age: 65

Director Since: 2020

Board Committees:

2026 PROXY STATEMENT

Carla T. Tharp has served as CEO of Apoyar Energy, an upstream oil and gas exploration and production company focused on international assets since February 2025. From January 2024 to February 2025, she was President of CT Tharp & Co., an independent consulting firm concentrating on global acquisitions and divestitures. From January 2020 to February 2024, Ms. Tharp served in multiple positions at APA Corporation (formerly Apache Corp.), including as Vice President of New Business & Commercial, Vice President of Corporate Development and Vice President of Reserves, leading multi-disciplinary teams. From January 2019 to January 2020, she was a Managing Director of Energy Investment Banking at Raymond James. From February 2018 to May 2019, she was Director of Acquisitions and Divestitures at Citi Global Markets. From June 2012 to May 2016, she was Director of Mergers and Acquisitions at Lantana Energy Advisors. Ms. Tharp graduated from Texas A&M University with a B.S. in Petroleum Engineering before working as a reservoir engineer in transactions and reserves reporting, senior and mezzanine debt finance and in a private equity portfolio company. She is a licensed professional engineer in Texas and has held Series 79 and 63 FINRA licenses.

Carla is on the Board of Directors for the Houston Producers Forum, the Texas A&M University Petroleum Ventures Program as well as the ADAM Houston, ADAM Permian and ADAM Rockies, Acquisitions, Divestitures and Mergers (ADAM) groups.

The particular experience, qualifications, attributes, and skills that led our Board to conclude that Ms. Tharp should serve as a director include her significant financial background; deep technical expertise in oil and gas operations and reserves; and her extensive experience in banking.

Carla T. Tharp

Age: 62

Director Since: 2025

Board Committees:


BOARD RECOMMENDATION ON PROPOSAL The Board unanimously recommends a vote FOR the election of each of the director nominees named above. The management proxy holder will vote all properly submitted proxies FOR election of each director unless properly instructed otherwise.

RING ENERGY

CORPORATE GOVERNANCE AND OUR BOARD

CORPORATE GOVERNANCE HIGHLIGHTS


RELATING TO THE BOARD
a Annual elections of the entire Board			a Dedication to continuing director education
a Majority independent directors			a Dedication to diversity on the Board
a Annual evaluations of the Board, each committee, and each director			a Designated Lead Independent Director
a Insider trading policy that prohibits hedging, pledging, and margin transactions in Company securities			a Board committees comprised entirely of independent directors
a Maintains corporate governance guidelines			a Board oversees environmental, social, and governance practices
a Annual say-on-pay vote			a Board oversees succession planning for the CEO and executive officer positions
a Director overboarding policy			a Adopted stock ownership guidelines for officers and directors


RELATING TO STOCKHOLDER RIGHTS
a Equal voting rights among all stockholders			a All stockholders entitled to vote on all director nominees
a Ability of stockholders to call a special meeting (at a 10% threshold)			a No poison pill or similar plan
a Ability of stockholders to act by written consent			a No supermajority voting requirements

We maintain a corporate governance section on our website that contains copies of the charters for the committees of our Board. The corporate governance section may be found at https://ringenergy.com/investors/corporate-governance. The charters for each of the Board’s committees will be provided to any person without charge, upon request. Requests may be directed to Ring Energy, Inc., Attention: Phillip B. Feiner, Corporate Secretary, Senior Vice President and General Counsel, 1725 Hughes Landing Blvd., Suite 900, The Woodlands, TX 77380, or by calling (281) 397-3699.

Also available on our website under the corporate governance section or the sustainability section are copies of our Corporate Governance Guidelines, Code of Ethics, Code of Business Conduct and our 2025 Sustainability Report. We have adopted a Code of Ethics that applies to our Chief Executive Officer, Executive Vice Presidents, Chief Financial Officer and Senior Vice Presidents as well as the principal accounting officer or controller, or persons performing similar functions, to ensure high standards of ethical conduct and fair dealing. Our 2025 Sustainability Report discusses a wide range of our business practices and procedures designed to help promote workplace safety, health of our stakeholders, sound environmental practices, protection of human rights, and honest and ethical conduct. The Code of Business Conduct covers standards for professional conduct, including, among others, conflicts of interest, insider trading, protection, proper use of confidential information and

2026 PROXY STATEMENT

Company assets, and compliance with the laws and regulations applicable to the Company’s business. Finally, we have adopted Corporate Governance Guidelines to assist the Board in the exercise of its responsibilities.

The information on, or that can be accessed through our website, is not incorporated by reference into this proxy statement and should not be considered part of this proxy statement.

OUR BOARD

Our Board currently consists of seven members. Our Articles of Incorporation and Bylaws provide for the annual election of all directors; we do not have a staggered board. At each annual meeting of stockholders, our directors will be elected for a one-year term and serve until their respective successors have been elected and qualified.

Our Board held seven meetings during the fiscal year ended December 31, 2025. During the fiscal year ended December 31, 2025, no directors attended fewer than 75% of the total number of meetings of our Board and committees on which that director served.

We encourage, but do not require, our directors to attend our annual meetings of stockholders. At our last annual meeting of stockholders, seven members of our Board attended either in person or by video conference participation.

BOARD LEADERSHIP STRUCTURE

The Chairman of the Board is selected by the members of the Board. Our Board does not have a policy as to whether the roles of Chairman of the Board and Chief Executive Officer should be separate or combined. Currently, the positions of Chairman of the Board and Chief Executive Officer are held by Paul D. McKinney. The Board has determined that the current structure is effective in allowing Mr. McKinney to draw on his knowledge of the operations of our business and industry developments to provide leadership on the broad strategic issues considered by the Board. At the same time, the appointment of a Lead Independent Director with clearly defined responsibilities and authority, along with the Board’s fully independent committees and substantial majority of independent directors, establishes an effective balance between management leadership and appropriate oversight by independent directors. Anthony B. Petrelli currently serves as the Lead Independent Director. Periodically, our NESG Committee assesses these roles and the board leadership structure to ensure the interests of Ring and its stockholders are best served.

LEAD INDEPENDENT DIRECTOR

In 2021, we amended our Bylaws to provide for the election of a Lead Independent Director.

Duties of the Lead Independent Director

■Presides at all meetings of the Board at which the Chairman is not present and all executive sessions of the independent directors;

■Acts as advisor to CEO and direct liaison between CEO and non-employee directors;

■Plans, reviews, and approves Board meeting agendas and information presented to the Board;

■Calls meetings of the independent directors as appropriate;

■Contributes to annual CEO performance review and assists with succession planning;

RING ENERGY

■Consults the NESG Committee on the Board’s evaluation process;

■Consults with the Audit Committee regarding internal controls and audit matters;

■Consults with the Compensation Committee regarding CEO, executive and employee compensation;

■Participates in consultations and direct communication with major stockholders and their representatives when appropriate; and

■Performs such other duties as the Board may determine from time to time.

Key Attributes of the Lead Independent Director

The Lead Independent Director is selected from among the independent directors. The NESG Committee and management discuss candidates for the Lead Independent Director position, and consider many of the same types of criteria as candidates for the chair of other Board committees including:

■Tenure;

■Previous service as a Board committee chair;

■Diverse experience and strong business acumen;

■Participation in and contributions to activities of the Board; and

■Ability and willingness to commit adequate time to the role.

ANNUAL BOARD EVALUATION

The NESG Committee is responsible for the Board evaluation process. In each fiscal year, the NESG Committee requests that the chairman of each committee report to the full Board about such committee’s annual evaluation of its performance and evaluation of its charter. In addition, the NESG Committee receives comments from all directors and reports to the full Board with an assessment of the Board’s and management’s performance each fiscal year. In conducting its annual evaluation, our Board has utilized written questionnaires to solicit feedback on committee and board effectiveness, agenda topics and materials, appropriate delegation of issues to committees, and the appropriateness of board and committee materials. The NESG Committee’s review process also includes an annual director self-evaluation that prompts each director to reflect and comment on his or her own individual performance and contributions to the Board and the Company.

DIRECTOR ORIENTATION AND CONTINUING EDUCATION

Our Board takes measures as it deems appropriate to ensure that its members may act on a fully informed basis. The NESG Committee reviews general education and orientation for our directors. Newly appointed directors are required to become knowledgeable about the responsibilities of directors for publicly traded companies. In addition, we provide our directors with information regarding changes in our business and industry as well as the responsibilities of the directors in fulfilling their duties. The Board frequently invites consultants and counsel to provide updates on developments in Board meetings throughout the year.

2026 PROXY STATEMENT

BOARD INDEPENDENCE

As required under the listing standards of the NYSE American, a majority of the members of our Board must qualify as independent, as affirmatively determined by our Board. The standards relied upon by the Board in determining whether a director is “independent” are those set forth in the rules of the NYSE American. The NYSE American generally defines the term “independent director” as a person other than an executive officer or employee of a company, who does not have a relationship with the company that would interfere with the director’s exercise of independent judgment in carrying out the responsibilities of a director. Because the Board believes it is not possible to anticipate or provide for all circumstances that might give rise to conflicts of interest or that might bear on the materiality of a relationship between a director and the Company, the Board has not established specific objective criteria, apart from the criteria set forth in the NYSE American rules, to determine “independence.” In addition to the NYSE American criteria, in making the determination of “independence”, the Board considers such other matters including, without limitation, (i) the business and non-business relationships that each director has or may have had with the Company and its other directors and executive officers, (ii) the stock ownership in the Company held by each such director, (iii) the existence of any familial relationships with any executive officer or director of the Company, and (iv) any other relevant factors which could cause any such director to not exercise his or her independent judgment. Our NESG Committee evaluated all relevant transactions and relationships between each director then on the Board, and any of his or her family members, and the Company, senior management, and independent registered accounting firm. Based on this evaluation and the recommendation of our NESG Committee, our Board determined that Anthony B. Petrelli, Richard A. Harris, John A. Crum, Thomas L. Mitchell, David S. Habachy, and Carla T. Tharp were independent directors, as that term is defined in the listing standards of the NYSE American. Paul D. McKinney is not independent.

Family Relationships and Involvement in Legal Proceedings

All directors and nominees for director of the Company are United States citizens. There are no family relationships between any of our directors or nominees for director and our executive officers. In addition, there are no other arrangements or understandings between any of our directors or nominees for director and any other person pursuant to which any person was selected as a director or nominee for director.

BOARD RISK ASSESSMENT AND CONTROL

The Board considers risk oversight and management to be an integral part of its role. Our risk management program is overseen by our Board and its committees, with support from our management. Our Board utilizes an enterprise-wide approach to oil and gas industry risk management, designed to support the achievement of organizational objectives, including strategic objectives, to improve long-term organizational performance and enhance stockholder value. A fundamental part of risk management is a thorough understanding of the risks the Company faces, understanding of the level of risk appropriate for our Company, and the steps needed to manage those risks effectively. The involvement of all members of the Board in setting our business strategy is a key part of their overall responsibilities and, together with management, determines what constitutes an appropriate level of risk for our Company. Our Board believes that its practice of including all members of our management team in our risk assessments allows the Board to more directly and effectively evaluate management capabilities and performance, more effectively and efficiently communicate its concerns and wishes to the entire management team and provides all members of management with a direct communication avenue to the Board.

RING ENERGY

While our Board has the ultimate oversight responsibility for the risk management process, the committees of our Board also have responsibility for specific risk management activities. In particular, the Audit Committee focuses on financial risk management, including internal controls, and oversees compliance with regulatory requirements. In setting compensation, the Compensation Committee approves compensation programs for the officers and other key employees to encourage an appropriate level of risk-taking behavior consistent with our business strategy and performance. Our Board has delegated oversight of matters related to cybersecurity and the security of information technology systems to the Audit Committee.

INSIDER TRADING POLICY

Our Board has adopted an Insider Trading Policy governing the purchase, sale, and other dispositions of the Company's securities by employees and directors that the Company's believes is reasonably designed to promote compliance with federal and state securities laws, and applicable listing standards of the NYSE American. The policy prohibits certain persons who are aware of material non-public information about the Company from: (i) trading in securities of the Company; or (ii) providing material non-public information to other persons who may trade on the basis of that information. When material non-public information about us may exist and may have an influence on the marketplace, a trading blackout period is placed in effect by management. In addition, our Insider Trading Policy also applies to family members, other members of a person’s household, and entities controlled by a person covered by this Insider Trading Policy. Officers, directors, and designated employees, as well as the family members and controlled entities of such persons, may not engage in any transaction in Company securities without first obtaining pre-clearance of the transaction.

Under the Insider Trading Policy, directors, executive officers and other employees are prohibited from entering into any hedging or monetization transactions relating to our securities or otherwise trading in any instrument relating to the future securities’ price. Our Insider Trading Policy also prevents directors and executive officers from pledging our securities as collateral for loans or holding our securities in a margin account.

It is also the policy of the Company to comply with all applicable securities laws and applicable listing standards of the NYSE American when transacting in its own securities. The Insider Trading Policy and related procedures are included as an exhibit to our Annual Report on Form 10-K for the year ended December 31, 2025.

BOARD COMMITTEES

Our Board has established three standing committees, the composition and responsibilities of which are briefly described below. Our Board may establish other committees from time to time to facilitate our management.



Audit Committee	Compensation Committee	Nominating, Environmental, Social, and Governance Committee

Our Board has determined that the Compensation Committee, the Audit Committee, and the Nominating, Environmental, Social, and Governance Committee are comprised entirely of independent directors as required under the listing standards of the NYSE American and applicable rules and requirements of the SEC, including the heightened “independence” standard required for members of the Audit Committee. The Board may delegate certain duties and responsibilities to the committees it establishes.

2026 PROXY STATEMENT


NAME	AUDIT COMMITTEE	COMPENSATION COMMITTEE	NOMINATING, ENVIRONMENTAL, SOCIAL, AND GOVERNANCE COMMITTEE
Paul D. McKinney

SEC Form DEF 14A filed by Ring Energy Inc.