EVP Mine Planning & Developmen Blanchard Christopher L covered exercise/tax liability with 81,621 shares, converted options into 36,012 units of Class B common stock, covered exercise/tax liability with 15,899 units of Class B common stock and converted options into 184,872 shares, decreasing direct ownership by 70% to 123,528 units (SEC Form 4)
$METCB
Coal Mining
Energy
| FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
| Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10. | |||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
Ramaco Resources, Inc. [ METC ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 01/30/2026 | ||||||||||||||||||||||||||
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4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
| Class A common stock | 01/30/2026 | M(1)(8) | 131,262 | A | $0 | 547,282 | D | |||
| Class A common stock | 01/30/2026 | F(2) | 57,952 | D | $19.97 | 489,330 | D | |||
| Class A common stock | 01/30/2026 | M(3)(4)(5) | 53,610 | A | $0 | 542,940 | D | |||
| Class A common stock | 01/30/2026 | F(2) | 23,669 | D | $19.97 | 519,271 | D | |||
| Class B common stock | 01/30/2026 | M(1)(10) | 26,252 | A | $0 | 129,667(6) | D | |||
| Class B common stock | 01/30/2026 | F(15) | 11,590 | D | $12.43 | 118,077 | D | |||
| Class B common stock | 01/30/2026 | M(3) | 4,375 | A | $0 | 122,452 | D | |||
| Class B common stock | 01/30/2026 | F(15) | 1,932 | D | $12.43 | 120,520 | D | |||
| Class B common stock | 01/30/2026 | M(13) | 5,385 | A | $0 | 125,905 | D | |||
| Class B common stock | 01/30/2026 | F(15) | 2,377 | D | $12.43 | 123,528 | D | |||
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Performance Stock Units | (7) | 01/30/2026 | M(1) | 65,631 | (1) | (1) | Class A common stock | 65,631 | $0 | 0 | D | ||||
| Performance Stock Units | (7) | 01/30/2026 | A(1) | 65,631(8) | (1) | (1) | Class A common stock | 65,631 | $0 | 65,631(8) | D | ||||
| Performance Stock Units | (7) | 01/30/2026 | M(1) | 65,631(8) | (1) | (1) | Class A common stock | 65,631 | $0 | 0 | D | ||||
| Performance Stock Units | (9) | 01/30/2026 | M(1) | 13,126 | (1) | (1) | Class B common stock | 13,126 | $0 | 0 | D | ||||
| Performance Stock Units | (9) | 01/30/2026 | A(1) | 13,126(10) | (1) | (1) | Class B common stock | 13,126 | $0 | 13,126 | D | ||||
| Performance Stock Units | (9) | 01/30/2026 | M(1) | 13,126(10) | (1) | (1) | Class B common stock | 13,126 | $0 | 0 | D | ||||
| Restricted Stock Units | (11) | 01/30/2026 | M(3) | 21,877 | (3) | (3) | Class A common stock | 21,877 | $0 | 0 | D | ||||
| Restricted Stock Units | (11) | 01/30/2026 | M(4) | 9,733 | (4) | (4) | Class A common stock | 9,733 | $0 | 9,732 | D | ||||
| Restricted Stock Units | (11) | 01/30/2026 | M(5) | 22,000 | (5) | (5) | Class A common stock | 22,000 | $0 | 43,998 | D | ||||
| Restricted Stock Units | (12) | 01/30/2026 | M(3) | 4,375 | (3) | (3) | Class B common stock | 4,375 | $0 | 0 | D | ||||
| Dividend Equivalent Units | (13) | 01/30/2026 | M | 5,385 | (14) | (14) | Class B common stock | 5,385 | $0 | 0 | D | ||||
| Explanation of Responses: |
| 1. The performance stock units granted on February 20, 2023 under the Ramaco Resources, Inc.'s (the "Company") Long Term Incentive Plan vested on January 30, 2026 upon certification of performance by the Company's Compensation Committee of the Board of Directors (the "Committee"). The Committee certified the achievement of pre-established performance targets at 200% for the performance period beginning on January 1, 2023 and ending on December 31, 2025. As a result of the Committee Certification, the vesting of additional performance stock units for 65,631 shares of Class A and 13,126 shares of Class B stock was approved. |
| 2. Shares surrendered upon vesting to satisfy tax obligations. The number of shares surrendered was based on the closing price of the Issuer's Class A common stock on January 29, 2026. |
| 3. The third and final installment of restricted stock units granted on February 20, 2023 under the Company's Long Term Incentive Plan vested on January 30, 2026. |
| 4. The second installment of restricted stock granted on February 29, 2024 under the Company's Long Term Incentive Plan vested on January 30, 2026. One annual installment remains from this grant. |
| 5. The first installment of restricted stock units granted on February 24, 2025 under the Company's Long Term Incentive Plan vested on January 30, 2026. Two annual installments remain from this grant. |
| 6. As a result of the four common stock dividends paid in Class B common stock 1) declared on December 5, 2024 and paid on March 14, 2025, 2) declared on March 17, 2025 and paid on June 13, 2025, 3) declared on August 22, 2025 and paid on September 19, 2025, and 4) declared on November 14, 2025 and paid on December 5, 2025 the reporting person received a total of 12,976 shares of Class B common Stock, which are included in the reported amount. |
| 7. Each performance stock unit represents a contingent right to receive one share of Class A common stock. |
| 8. Amount includes 65,631 Performance Stock Units for Class A common stock that vested because more than 100% of the pre-established performance targets were achieved during the performance period. See Footnote 1. |
| 9. Each performance stock unit represents a contingent right to receive one share of Class B common stock. |
| 10. Amount includes 13,126 Performance Stock Units for Class B common stock that vested because more than 100% of the pre-established performance targets were achieved during the performance period. Please see Footnote 1. |
| 11. Each restricted stock unit represents a contingent right to receive one share of Class A common stock. |
| 12. Each restricted stock unit represents a contingent right to receive one share of Class B common stock. |
| 13. Dividend equivalent units underlying the three tranches of restricted stock units and the tranche of performance stock units listed above with respect to Class A common stock and with respect to Class B common stock. See footnotes 1, 3, 4 and 5 for further detail. |
| 14. See Footnote 6 for further detail regarding the stock dividends. |
| 15. Shares surrendered upon vesting to satisfy tax obligations. The number of shares surrendered was based on the closing price of the Issuer's Class B common stock on January 29, 2026. |
| Remarks: |
| /s/ Jonathan T Adkins, Attorney in Fact | 02/02/2026 | |
| ** 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 4 (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. | ||