Business Context and Reporting Period
This Form 8-K reports on the results of Ring Energy, Inc.'s 2020 Annual Meeting of Stockholders held on December 15, 2020, in Midland, Texas. As of the record date of November 4, 2020, the company had 81,668,600 shares of common stock outstanding, with 68,619,704 shares (84%) represented at the meeting.
Key Financial Metrics
This filing is a current report regarding corporate governance and voting results. It does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The filing text does not provide a clear value for any financial metrics.
Material Changes
No material financial changes are reported in this document. The filing details the successful approval of three proposals by stockholders: the election of seven directors, a non-binding advisory vote on executive compensation, and the ratification of the independent auditor.
Guidance, Outlook, and Risks
The filing includes no management guidance, outlook, or discussion of risks and contingencies. It notes that the information provided is furnished pursuant to Item 7.01 and is not deemed "filed" for purposes of Section 18 of the Exchange Act.
Important Facts for Investors
- Director Election: Stockholders elected Paul D. McKinney, Anthony B. Petrelli, Clayton E. Woodrum, Regina Roesener, Thomas L. Mitchell, John A. Crum, and Richard E. Harris to the Board of Directors.
- Executive Compensation: The non-binding advisory vote to approve named executive officer compensation was approved with 28,863,021 votes for and 11,026,017 votes against.
- Auditor Ratification: Stockholders ratified the appointment of Eide Bailly LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2020, with 57,857,918 votes for.
- Voting Participation: Broker non-votes were significant for the director election and executive compensation proposals, totaling 28,238,237 shares in each case.