Form 4: Ring Energy CEO Paul McKinney Disposes of Shares to Cover Tax Obligations

Ring Energy CEO and Chairman Paul McKinney disposed of 23,274 shares of common stock on June 17, 2024, to cover tax withholding obligations related to the settlement of a restricted stock unit award.

Summary

• On June 17, 2024, Paul D. McKinney, CEO and Chairman of the Board of Ring Energy, Inc., disposed of 23,274 shares of common stock.
• The transaction was executed to cover tax withholding obligations arising from the settlement of a restricted stock unit award granted under the company's long-term incentive plan.
• The shares were withheld by Ring Energy at a price of $1.61 per share.
• Following the transaction, McKinney directly owns 2,090,282 shares of Ring Energy common stock.

Sentiment

Score: 5

Explanation: The document describes a routine transaction (covering tax obligations) and doesn't inherently indicate positive or negative sentiment. It's a neutral disclosure.

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests between management and shareholders.

Stakeholder Impact

• The transaction has a minor dilutive effect on existing shareholders due to the shares being used for tax obligations rather than remaining outstanding.

Key Dates