Ring Energy enters CFO severance agreement; $1.02M cash payment, equity acceleration

RING ENERGY, INC.

Former CFO Travis Thomas receives $1,021,688 cash severance, COBRA reimbursement for 18 months.
All outstanding equity awards (844,914 shares across 9 grants) fully vest as of agreement effective date.
Severance conditioned on general release of claims, confidentiality, non-disparagement, and cooperation covenants.
Thomas resigned September 12, 2025; agreement signed October 2, 2025; payment within 10 business days after effective date.

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