Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
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- Peter Lynch
What is insider trading>>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 9)*
RING ENERGY, INC.
(Name
of Issuer)
COMMON STOCK, PAR VALUE $0.001 PER SHARE
(Title
of Class of Securities)
76680V108
(CUSIP
Number)
Dr. Simon G. Kukes
575 N. Dairy Ashford
Energy Center II, Suite 210
Houston, Texas 77079
Telephone: (713) 969-5027
(Name,
Address and Telephone Number of Person
Authorized
to Receive Notices and Communications)
January 28, 2021
(Date
of Event which Requires Filing of this Statement)
If the
filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D,
and is filing this schedule because of §§240.13d-1(e),
240.13d-1(f) or 240.13d-1(g), check the following
box. ☐
Note: Schedules filed in paper format shall include a signed
original and five copies of the schedule, including all exhibits.
See §240.13d-7 for other parties to whom copies are to be
sent.
* The
remainder of this cover page shall be filled out for a reporting
person’s initial filing on this form with respect to the
subject class of securities, and for any subsequent amendment
containing information which would alter disclosures provided in a
prior cover page.
The
information required on the remainder of this cover page shall not
be deemed to be “filed” for the purpose of
Section 18 of the Securities Exchange Act of 1934
(“Act”)
or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however,
see the Notes).
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Cusip No. 76680V108
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Schedule 13D/A
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Page 2 of 7
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1
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NAME OF
REPORTING PERSONS
Dr. Simon G. Kukes
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2
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CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
☒
(b)
☐
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3
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SEC USE
ONLY
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4
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SOURCE
OF FUNDS
PF
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5
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CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e) ☐
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6
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CITIZENSHIP
OR PLACE OF ORGANIZATION
United
States Citizen
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NUMBER
OF
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7
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SOLE
VOTING POWER
6,600,180
shares of Common Stock
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SHARES
BENEFICIALLY
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8
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SHARED
VOTING POWER
-0-
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OWNED
BY
EACH
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9
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SOLE
DISPOSITIVE POWER
6,600,180
shares of Common Stock
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|
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REPORTING
PERSON
WITH
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10
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SHARED
DISPOSITIVE POWER
-0-
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11
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AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,600,180
shares of Common Stock
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12
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CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES ☐
Not
applicable.
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13
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PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.1%
of the Issuer’s outstanding Common Stock(1)
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14
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TYPE OF
REPORTING PERSON
IN
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(1)
Based on the number of outstanding shares of Common Stock set forth
on the cover page of the Issuer’s Quarterly Report on Form
10-Q for the quarter ended September 30, 2020, as filed with the
Securities and Exchange Commission on November 9,
2020.
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Cusip No. 76680V108
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Schedule 13D/A
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Page 3 of 7
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1
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NAME OF
REPORTING PERSONS
J.
Douglas Schick
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2
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CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
☒
(b)
☐
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3
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SEC USE
ONLY
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4
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SOURCE
OF FUNDS
PF
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5
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CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e) ☐
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6
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CITIZENSHIP
OR PLACE OF ORGANIZATION
United
States Citizen
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NUMBER
OF
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7
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SOLE
VOTING POWER
7,500 shares of Common Stock
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SHARES
BENEFICIALLY
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8
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SHARED
VOTING POWER
-0-
|
|
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OWNED
BY
EACH
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9
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SOLE
DISPOSITIVE POWER
7,500 shares of Common Stock
|
|
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REPORTING
PERSON
WITH
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10
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SHARED
DISPOSITIVE POWER
-0-
|
|
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11
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AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,500
shares of Common Stock
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12
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CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES ☐
Not Applicable
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13
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PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
*% of
the Issuer's outstanding Common Stock (1)
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14
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TYPE OF
REPORTING PERSON
IN
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* Less
than 0.1%.
(1)
Based on the number of outstanding shares of Common Stock set forth
on the cover page of the Issuer’s Quarterly Report on Form
10-Q for the quarter ended September 30, 2020, as filed with the
Securities and Exchange Commission on November 9,
2020.
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Cusip No. 76680V108
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Schedule 13D/A
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Page 4 of 7
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This Amendment No. 9 (the
“Amendment”)
amends and supplements the Schedule
13D filed with the
Securities and Exchange Commission (the “Commission”)
on October 21, 2019, by Dr. Simon G. Kukes, Mr. John J. Scelfo (no
longer a member of the Reporting Group), Mr. Ivar Siem (no longer a
member of the Reporting Group),
and Mr. J. Douglas
Schick, as amended by Amendment No. 1 thereto filed
on February 18,
2020 (“Amendment No.
1”), Amendment No. 2
thereto filed on March 2,
2020 (“Amendment No.
2”), Amendment No. 3
thereto filed on August 12,
2020 (“Amendment No.
3”), Amendment No. 4
thereto filed on November 10,
2020 (“Amendment
No. 4”), Amendment No. 5
thereto filed on November 19,
2020 (“Amendment
No. 5”), Amendment No. 6
thereto filed on December 2,
2020 (“Amendment
No. 6”), Amendment No. 7
thereto filed on December 10,
2020, and Amendment No. 8
thereto filed on December 17,
2020 (“Amendment
No. 8”, and the Schedule
13D, as amended to date, the “Schedule
13D”).
As
used in this Amendment:
●
“Common Stock” means the
common stock of the Issuer;
●
“Issuer” means Ring
Energy, Inc.;
●
“Reporting
Persons” means Dr. Simon
G. Kukes and Mr. J. Douglas Schick; and
●
“Shares”
means the aggregate of 6,607,680 shares of Common Stock of the
Issuer beneficially owned by the Reporting
Persons.
Other
capitalized terms used but not otherwise defined in this Amendment
have the meanings ascribed to such terms in the Schedule 13D.
Except as expressly amended and supplemented by this Amendment, the
Schedule 13D is not amended or supplemented in any respect, and the
disclosures set forth in the Schedule 13D, other than as amended
herein are incorporated by reference herein.
Item 4. Purpose of Transaction
On March 2, 2020, the Reporting Persons issued a
press release, a copy of which is incorporated by reference herein
as Exhibit
99.2 hereto, which
included a letter to the Board of Directors of the Issuer. The full
text of the press release is incorporated into
this Item
4 by
reference.
On August 10, 2020, the Reporting Persons
delivered another letter to the Board of Directors of the Issuer
(the “Letter”).
Pursuant to the Letter, in accordance with the provisions of the
Issuer’s Bylaws (and not pursuant to the SEC’s Rule
14a-8) they nominated more than a dozen individuals as candidates
for the board of the Issuer (the “Board”).
The
Reporting Persons believe that in the past there may have been
failures of corporate governance by the Board of the Issuer and
that these failures may have contributed to the catastrophic fall
in the Issuer’s stock price.
The
Reporting Persons seek to improve the quality of the Issuer’s
Board. The Reporting Persons believe that a newly reconstituted
Board that includes some of their nominees will better serve the
interests of all of the Issuer’s shareholders.
The
Reporting Persons sought to avoid an expensive and distracting
proxy contest. For this reason, the Reporting Persons were prepared
to reach a reasonable compromise with the incumbent
Board.
On
November 10, 2020, the Reporting Persons filed a press release
calling upon their fellow shareholders to withhold votes on all
members of the Issuer’s Board of Directors in the upcoming
election and to encourage the proxy advisory firms to do a detailed
investigation of the incumbent Board members. The full text of the
November 10, 2020 press release is incorporated by reference herein
as Exhibit 99.3 and
incorporated in this Item 4 by reference.
On
November 19, 2020, the Reporting Persons filed another press
release calling upon their fellow shareholders to withhold votes on
all members of the Issuer’s Board of Directors in the
upcoming election and to encourage the proxy advisory firms to do a
detailed investigation of the incumbent Board members. The full
text of the November 19, 2020 press release is incorporated by
reference herein as Exhibit 99.4 and incorporated
in this Item 4 by
reference.
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Cusip No. 76680V108
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Schedule 13D/A
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<
font style="color: #000000; background-color: #FFFFFF">
Page 5 of 7
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On
December 2, 2020, the Reporting Persons filed another press release
calling upon their fellow shareholders to withhold votes on all
members of the Issuer’s Board of Directors in the upcoming
election and raising certain concerns regarding the qualifications
and compensation of the Issuer’s Chief Executive Officer. The
full text of the December 2, 2020 press release is incorporated by
reference herein as Exhibit 99.5 and incorporated
in this Item 4 by
reference.
On
December 10, 2020, the Reporting Persons filed another press
release noting that they believe that the slate of directors that
are listed in the proxy mailed out by the Issuer do not represent
the best interests of all shareholders, urging their fellow
shareholders to withhold votes on all members of the Issuer’s
Board of Directors in the upcoming election and raising certain
concerns regarding conflicts of interest between board members. The
full text of the December 10, 2020 press release is incorporated by
reference herein as Exhibit 99.6 and incorporated
in this Item 4 by
reference.
On
December 17, 2020, the Reporting Persons filed another press
release noting that they believe the lack of support shown by the
shareholders of the Issuer at its December 15, 2020 Annual Meeting
shows the Board of Directors of the Issuer needs to make changes as
they no longer represent the best interests of all shareholders,
and that they continue to be concerned with the Board’s poor
performance, conflicts of interest and potential violations of
fiduciary duties and disclosure obligations. The Reporting Persons
also called upon each individual shareholder and institutional
shareholder of the Issuer to examine the actions of the Board with
regard to the appointment and compensation of its new CEO and the
sale of shares in October 2020, and to also examine all of the
other potential distractions that the Board may face, and examine
potential serious fiduciary duty issues and conflicts of interest
that the Board may have; and further called for the incumbent Board
of the Issuer to heed the voice of its shareholders and promptly
add shareholder representatives to the Board in an effort to
improve the overall quality of corporate governance and help drive
shareholder returns. The full text of the December 17, 2020 press
release is incorporated by reference herein as Exhibit 99.7 and incorporated
in this Item 4 by
reference.
The
Reporting Persons continue to believe that the Issuer has
tremendous value and that if the Issuer is run appropriately, the
Issuer’s earnings will grow and the Issuer’s stock
price will rise.
The
Reporting Persons are hopeful that the Board of the Issuer will
deliver on the Issuer’s potential.
In
order to better understand the views of other stockholders of the
Issuer, the Reporting Persons plan to reach out to other
stockholders of the Issuer via phone and other means. These calls
are planned to be informational only, and there is no expectation
that any group will be formed with any other stockholder now or in
the future, as a result of such calls/correspondence, or
otherwise.
The
Reporting Persons acquired the Shares in the belief that the Shares
were undervalued. The Reporting Persons have spoken to, and intend
to continue to speak with, representatives of the Issuer’s
Board and management to discuss enhancing shareholder value and the
potential for undertaking transactions which the Reporting Persons
believe will be beneficial to stockholders of the Issuer, including
the requested appointment of new members of the Board of the Issuer
and the requested withholding (by shareholders of the Issuer) of
votes for the Issuer’s Board of Directors, as described
above.
The
Reporting Persons are considering all of their options, and while
they have no present plan to do so (except as otherwise disclosed
in this Item 4),
they reserve the right and are considering whether to propose other
transactions which relate to or would result in one or more of the
actions specified in clauses (a) through (f) or (j) (as
relates to (a) through (f)) of Item 4 of Schedule 13D (except as
discussed above, in connection with a proposed change in the
present board of directors and management of the Issuer, which may
include proposals to change the number or term of directors or to
fill vacancies on the Board). The Reporting persons have no present
plan to propose any transaction which relates or would result in
one or more of the actions specified in clauses (g) through (i) or
(j) (as relates to (g) through (i)) of Item 4 of Schedule
13D.
The
Reporting Persons may, from time to time and at any time: (i)
acquire additional Shares and/or other equity, debt, notes,
instruments or other securities of the Issuer and/or its affiliates
(collectively, “Securities”) in the open
market or otherwise; (ii) dispose of any or all of their Securities
in the open market or otherwise; or (iii) engage in any hedging or
similar transactions with respect to the
Securities.
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Cusip No. 76680V108
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Schedule 13D/A
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Page 6 of 7
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Item 7. Material to be Filed as Exhibits
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Exhibit No.
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Description
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Joint
Filing Agreement by and among Dr. Simon G. Kukes and Mr. J. Douglas
Schick dated August 12, 2020 (Incorporated by reference to Exhibit
99.1 to Amendment No. 3 filed on August 12, 2020)
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Press
Release dated March 2, 2020 (Incorporated by reference to Exhibit
99.1 to Amendment No. 2 filed on March 2, 2020)
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Press
Release dated November 10, 2020 (Incorporated by reference to
Exhibit 99.3 to Amendment No. 4 filed on November 10,
2020)
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Press
Release dated November 19, 2020 (Incorporated by referen
ce to
Exhibit 99.4 to Amendment No. 5 filed on November 19,
2020)
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Press
Release dated December 2, 2020 (Incorporated by reference to
Exhibit 99.5 to Amendment No. 6 filed on December 2,
2020)
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Press
Release dated December 10, 2020 (Incorporated by reference to
Exhibit 99.6 to Amendment No. 7 filed on December 2,
2020)
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Press
Release dated December 17, 2020 (Incorporated by reference to
Exhibit 99.7 to Amendment No. 8 filed on December 17,
2020)
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Cusip No. 76680V108
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Schedule 13D/A
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Page 7 of 7
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Signatures
After
reasonable inquiry and to the best of my knowledge and belief, each
of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
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Dated:
January 28, 2021
/s/ Dr. Simon G. Kukes
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Dr. Simon G. Kukes
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Dated:
January 28, 2021
/s/ Mr. J. Douglas Schick
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Mr. J. Douglas Schick
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