[Form 3] RING ENERGY, INC. Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

Rocky Kwon, serving as Interim CFO of Ring Energy, Inc. (REI), filed an Initial Statement of Beneficial Ownership reporting direct ownership of 199,587 shares of the company's common stock. The total includes 118,293 restricted stock units (RSUs) that convert one-for-one to common shares and vest on specified dates: 23,938 RSUs on February 12, 2026; 16,314 RSUs on February 13, 2026; 13,851 RSUs on February 16, 2026; 23,939 RSUs on February 12, 2027; 16,313 RSUs on February 13, 2027; and 23,938 RSUs on February 12, 2028. The event requiring the statement is dated 09/12/2025 and the form is signed by Rocky Kwon on 09/26/2025. The filing lists a reporting address in The Woodlands, Texas.

Positive

• Full disclosure of insider holdings including exact RSU counts and vesting dates provides transparency to investors
• Staggered RSU vesting through 2028 aligns the Interim CFO with multi-year company performance and retention

Negative

• Materiality vs. company capitalization unclear because the filing does not state total shares outstanding or percentage ownership
• No information on intent to sell or additional agreements such as trading plans or restrictions is provided in this Form 3

Insights

Corporate Governance Expert

TL;DR: Interim CFO discloses substantial equity stake with multi-year RSU vesting schedule, aligning executive incentives with shareholder value.

The Form 3 confirms that Rocky Kwon, as Interim Chief Financial Officer, holds 199,587 shares directly, including 118,293 RSUs with a defined vesting cadence through February 2028. From a governance perspective, this disclosure is routine but material for transparency: it clarifies insider exposure and the timing of potential share issuance as RSUs vest. The staggered vesting reduces immediate dilution risk while providing retention incentives. No derivative holdings or pledges are reported, and the ownership is reported as direct.

Securities Analyst

TL;DR: Insider ownership is meaningful in absolute terms but requires context of total shares outstanding for materiality.

The filing provides clear numbers on shares and RSU vesting dates, which allows modeling of future potential share releases to the market as each tranche vests. The absence of derivative positions or indirect holdings simplifies analysis. However, the Form 3 does not state the company's total outstanding shares, so assessing percentage ownership or dilution impact cannot be completed from this filing alone. The disclosure meets Section 16 requirements and gives investors visibility into executive incentives.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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1. Name and Address of Reporting Person^*

Kwon Rocky

(Last) (First) (Middle)

1725 HUGHES LANDING BLVD.

SUITE 900

(Street)

THE WOODLANDS TX 77380

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
09/12/2025

3. Issuer Name and Ticker or Trading Symbol
RING ENERGY, INC. [ REI ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Interim CFO

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	199,587(1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Includes 118,293 restricted stock units ("RSUs") that are subject to the terms of restricted stock unit agreements and vest as to 23,938 RSUs on February 12, 2026, 16,314 RSUs on February 13, 2026, 13,851 RSUs on February 16, 2026, 23,939 RSUs on February 12, 2027, 16,313 RSUs on February 13, 2027, and 23,938 RSUs on February 12, 2028. Each RSU represents the contingent right to receive one share of common stock of the Issuer.

Remarks:

	/s/ Rocky Kwon	09/26/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Rocky Kwon report on the Form 3 for Ring Energy (REI)?

He reported direct ownership of 199,587 common shares, which includes 118,293 RSUs convertible one-for-one to shares.

When do the RSUs reported by Rocky Kwon vest?

RSUs vest in tranches: 23,938 on 02/12/2026; 16,314 on 02/13/2026; 13,851 on 02/16/2026; 23,939 on 02/12/2027; 16,313 on 02/13/2027; and 23,938 on 02/12/2028.

What is Rocky Kwon's role at Ring Energy as stated in the filing?

The filing lists Rocky Kwon as Interim Chief Financial Officer (Interim CFO) and an officer of the issuer.

Does the Form 3 show any derivative or indirect holdings by Rocky Kwon?

No. The Form 3 reports only non-derivative, direct common stock holdings; no derivative or indirect holdings are disclosed.

What are the relevant dates on the Form 3?

The event requiring the statement is dated 09/12/2025, and the form is signed on 09/26/2025.