Ramaco Resources Inc.

02/02/2026 | Press release | Distributed by Public on 02/02/2026 15:10

Statement of Changes in Beneficial Ownership (Form 4)

FORM 4
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 that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Horn Paul Bryan Jr.
2. Issuer Name and Ticker or Trading Symbol
Ramaco Resources, Inc. [METC]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
EVP Mine Operations
(Last) (First) (Middle)
250 W. MAIN STREET, SUITE 1900
3. Date of Earliest Transaction (Month/Day/Year)
01/30/2026
(Street)
LEXINGTON, KY 40507
4. If Amendment, Date Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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 F(1) 3,652 D $19.97 27,905 D
Class A common stock 01/30/2026 M(2)(9) 47,940 A $ 0 75,845 D
Class A common stock 01/30/2026 F(3) 20,626 D $19.97 55,219 D
Class A common stock 01/30/2026 M(4)(5)(6) 35,088 A $ 0 90,307 D
Class A common stock 01/30/2026 F(3) 15,096 D $19.97 75,211 D
Class B common stock 01/30/2026 M(2)(11) 9,588 A $ 0 16,996(7) D
Class B common stock 01/30/2026 F(16) 4,125 D $12.43 12,871 D
Class B common stock 01/30/2026 M(4) 1,598 A $ 0 14,469 D
Class B common stock 01/30/2026 F(16) 688 D $12.43 13,781 D
Class B common stock 01/30/2026 M(14) 2,350 A $ 0 16,131 D
Class B common stock 01/30/2026 F(16) 1,011 D $12.43 15,120 D
Class B common stock 01/30/2026 F(16)(17) 731 D $12.43 14,389 D
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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 control number. SEC 1474 (9-02)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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 Underlying Securities
(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 of Derivative Security: 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 (8) 01/30/2026 M(2) 23,970 (2) (2) Class A common stock 23,970 $ 0 0 D
Performance Stock Units (8) 01/30/2026 A(2) 23,970(9) (2) (2) Class A common stock 23,970 $ 0 23,970 D
Performance Stock Units (8) 01/30/2026 M(2) 23,970(9) (2) (2) Class A common stock 23,970 $ 0 0 D
Performance Stock Units (10) 01/30/2026 M(2) 4,794 (2) (2) Class B common stock 4,794 $ 0 0 D
Performance Stock Units (10) 01/30/2026 A(2) 4,794(11) (2) (2) Class B common stock 4,794 $ 0 4,794 D
Performance Stock Units (10) 01/30/2026 M(2) 4,794(11) (2) (2) Class B common stock 4,794 $ 0 0 D
Restricted Stock Units (12) 01/30/2026 M(4) 7,990 (4) (4) Class A common stock 7,990 $ 0 0 D
Restricted Stock Units (12) 01/30/2026 M(5) 5,098 (5) (5) Class A common stock 5,098 $ 0 5,098 D
Restricted Stock Units (12) 01/30/2026 M(6) 22,000 (6) (6) Class A common stock 22,000 $ 0 43,998 D
Restricted Stock Units (13) 01/30/2026 M(4) 1,598 (4) (4) Class B common stock 1,598 $ 0 0 D
Dividend Equivalent Units (14) 01/30/2026 M 2,350 (15) (15) Class B common stock 2,350 $ 0 0 D

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Horn Paul Bryan Jr.
250 W. MAIN STREET
SUITE 1900
LEXINGTON, KY 40507
EVP Mine Operations

Signatures

/s/ Jonathan T Adkins, Attorney in Fact 02/02/2026
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) On September 16, 2022, the Reporting Person received a restricted stock grant of 25,467 shares (the "September Grant") under the Ramaco Resources, Inc. 's (the "Company") 2017 Long Term Incentive Plan. The third and final annual installment under the September Grant vested on January 30, 2026. Amount reflects 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.
(2) The performance stock units granted on February 20, 2023 under the Company's 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 23,970 shares of Class A and 4,794 shares of Class B stock was approved.
(3) 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.
(4) 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.
(5) 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.
(6) 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.
(7) 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 972 shares of Class B common Stock, which are included in the reported amount.
(8) Each performance stock unit represents a contingent right to receive one share of Class A common stock.
(9) Amount includes 23,970 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 2.
(10) Each performance stock unit represents a contingent right to receive one share of Class B common stock.
(11) Amount includes 4,794 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 2.
(12) Each restricted stock unit represents a contingent right to receive one share of Class A common stock.
(13) Each restricted stock unit represents a contingent right to receive one share of Class B common stock.
(14) 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 2, 4, 5 and 6 for further detail.
(15) See Footnote 7 for further detail regarding the stock dividends.
(16) 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.
(17) On June 21, 2023, the Reporting Person received a restricted stock grant of 5,093 Class B shares (the "June Distribution") in the Company's distribution of the Class B common stock. The third and final annual installment under the June Distribution vested on January 30, 2026. Amount reflects 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.
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.
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