[Form 4] American Resources Corp Insider Trading Activity

Rhea-AI Filing Summary

American Resources Corp (AREC) reported insider trading activity by a director on a Form 4. On 11/07/2025, the reporting person executed multiple open‑market sales of Class A common stock at prices ranging from $4.00 to $4.10 per share.

Following the reported transactions, the filing lists 10,784,940 shares beneficially owned, held in direct ownership. The filing’s Table II shows no derivative securities activity.

Insights

Equity Governance Analyst

Director reported sizable same-day open‑market sales, reducing direct holdings by about 3.3%; no derivatives involved.

The filing shows multiple open‑market sales (code S) of **American Resources Corp** Class A common stock on 11/07/2025 at prices around $4.00–$4.10. Aggregate activity reduced beneficial ownership from 11,158,095 to 10,784,940 shares, a net decrease of 373,155 shares, held directly. No derivative securities were reported in Table II.

What it means: a board member trimmed the position by roughly 3.3% of reported holdings in a single day. Insider sales are not uncommon, but concentrated same‑day disposals can signal a preference for liquidity. The filing does not indicate any 10b5‑1 plan and does not disclose any offsetting acquisitions beyond the line‑item adjustments reflected in the totals.

Why it matters: reduced insider ownership can modestly lessen alignment with outside holders, and clustered sales may add near‑term supply at the disclosed price range. Items to watch over the coming weeks: additional Forms 4 indicating continued selling, any change in direct ownership from the current 10,784,940 shares, and any subsequent disclosure that clarifies trading arrangements. The absence of derivatives simplifies the picture to cash sales at stated prices on 11/07/2025.

SEC Form 4

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

GOLDEN PROPERTIES LTD.

(Last) (First) (Middle)

#500

1177 WEST HASTINGS STREET

(Street)

VANCOUVER A1 V6E 2K3

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
American Resources Corp [ AREC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
11/07/2025

4. If Amendment, Date of 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

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	11/07/2025		S		20,000	D	$4	11,158,095	D
Class A Common Stock	11/07/2025		S		19,700	D	$4.01	11,138,395	D
Class A Common Stock	11/07/2025		S		300	D	$4	11,138,095	D
Class A Common Stock	11/07/2025		S		10,000	D	$4.01	11,128,095	D
Class A Common Stock	11/07/2025		S		20,000	D	$4	11,108,095	D
Class A Common Stock	11/07/2025		S		3,155	A	$4.01	11,104,940	D
Class A Common Stock	11/07/2025		S		20,000	D	$4	11,084,940	D
Class A Common Stock	11/07/2025		S		20,000	D	$4	11,064,940	D
Class A Common Stock	11/07/2025		S		10,000	D	$4.02	11,054,940	D
Class A Common Stock	11/07/2025		S		27,955	D	$4.01	11,026,985	D
Class A Common Stock	11/07/2025		S		2,045	D	$4	11,024,940	D
Class A Common Stock	11/07/2025		S		19,944	D	$4.01	11,004,996	D
Class A Common Stock	11/07/2025		S		56	D	$4	11,004,940	D
Class A Common Stock	11/07/2025		S		20,000	D	$4	10,984,940	D
Class A Common Stock	11/07/2025		S		19,963	D	$4.02	10,964,977	D
Class A Common Stock	11/07/2025		S		37	D	$4.01	10,964,940	D
Class A Common Stock	11/07/2025		S		10,000	D	$4.03	10,954,940	D
Class A Common Stock	11/07/2025		S		20,000	D	$4.04	10,934,940	D
Class A Common Stock	11/07/2025		S		8,500	D	$4.01	10,926,440	D
Class A Common Stock	11/07/2025		S		1,500	D	$4	10,924,940	D
Class A Common Stock	11/07/2025		S		10,000	D	$4	10,914,940	D
Class A Common Stock	11/07/2025		S		10,000	D	$4.02	10,904,940	D
Class A Common Stock	11/07/2025		S		10,000	D	$4.02	10,894,940	D
Class A Common Stock	11/07/2025		S		20,000	D	$4.02	10,874,940	D
Class A Common Stock	11/07/2025		S		10,000	D	$4.09	10,864,940	D
Class A Common Stock	11/07/2025		S		10,000	D	$4.05	10,854,940	D
Class A Common Stock	11/07/2025		S		20,000	D	$4.1	10,834,940	D
Class A Common Stock	11/07/2025		S		20,000	D	$4.08	10,814,940	D
Class A Common Stock	11/07/2025		S		10,000	D	$4.08	10,804,940	D
Class A Common Stock	11/07/2025		S		20,000	D	$4.06	10,784,940	D

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 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

Explanation of Responses:

Remarks:

	/s/ Alex Lau	11/10/2025
	** 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.

FAQ

What did AREC's Form 4 disclose?

A company director reported multiple open‑market sales of AREC Class A common stock on 11/07/2025.

At what prices were the AREC shares sold?

The reported sales occurred at prices ranging from $4.00 to $4.10 per share.

How many AREC shares are beneficially owned after the transactions?

The filing lists 10,784,940 shares beneficially owned following the transactions.

What is the ownership form of the reported holdings?

The filing indicates direct (D) ownership of the shares.

Were any derivative securities reported?

No. Table II shows no derivative securities acquired, disposed of, or held.

What role does the reporting person have at AREC (AREC)?

The reporting person is identified as a Director of American Resources Corp.