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, 2024

NOTE 4 — EARNINGS PER SHARE INFORMATION

The following table presents the calculation of the Company's basic and diluted earnings per share for the three months ended March 31, 2024 and 2023. For all dilutive securities, the treasury stock method of calculating the incremental shares is applied.


	For the Three Months Ended
		March 31, 2024		March 31, 2023
Net Income		$	5,515,377	$	32,715,779
Basic Weighted-Average Shares Outstanding		197,389,782		177,984,323
Effect of dilutive securities:
Stock options		—		14,170
Restricted stock units		1,126,604		1,299,741
Performance stock units		752,551		232,055
Common warrants		36,213		10,608,680

Diluted Weighted-Average Shares Outstanding		199,305,150		190,138,969
Basic Earnings per Share		$	0.03	$	0.18
Diluted Earnings per Share		$	0.03	$	0.17

The following table presents the securities which were excluded from the Company's computation of diluted earnings per share for the three months ended March 31, 2024 and 2023, as their effect would have been anti-dilutive.


	For the Three Months Ended
		March 31, 2024	March 31, 2023
Antidilutive securities:
Stock options to purchase common stock		69,566	70,500
Unvested restricted stock units		—	43,480
Unvested performance stock units		1,592,268	1,428,380