AREC insider sells at $4.00–$4.13; holds 9,898,832 shares

American Resources Corp (AREC) insider Alex Lau reported multiple open-market sales of Class A common stock on 11/10/2025 (transaction code S).

Rhea-AI Filing Summary

American Resources Corp (AREC) insider Alex Lau reported multiple open-market sales of Class A common stock on 11/10/2025 (transaction code S). Reported sale prices ranged from $4.00 to $4.13 per share across several trades.

Following these transactions, the reporting person’s direct beneficial ownership stood at 9,898,832 shares. No derivative security activity was reported.

Insider Trade Summary

Net Seller: 390,000 shares

Net Sell 30 txns

Insider GOLDEN PROPERTIES LTD.

Role 10% Owner

Sold 390,000 shs ($1.58M)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	10,000	$4.13	$41K
Sale	Class A Common Stock	10,000	$4.11	$41K
Sale	Class A Common Stock	10,000	$4.11	$41K
Sale	Class A Common Stock	20,000	$4.10	$82K
Sale	Class A Common Stock	20,000	$4.09	$82K
Sale	Class A Common Stock	20,000	$4.05	$81K
Sale	Class A Common Stock	10,000	$4.05	$41K
Sale	Class A Common Stock	10,000	$4.06	$41K
Sale	Class A Common Stock	20,000	$4.07	$81K
Sale	Class A Common Stock	10,000	$4.04	$40K
Sale	Class A Common Stock	10,000	$4.03	$40K
Sale	Class A Common Stock	10,000	$4.04	$40K
Sale	Class A Common Stock	10,000	$4.03	$40K
Sale	Class A Common Stock	10,000	$4.02	$40K
Sale	Class A Common Stock	10,000	$4.05	$41K
Sale	Class A Common Stock	10,000	$4.01	$40K
Sale	Class A Common Stock	20,000	$4.07	$81K
Sale	Class A Common Stock	10,000	$4.00	$40K
Sale	Class A Common Stock	10,000	$4.02	$40K
Sale	Class A Common Stock	10,000	$4.00	$40K
Sale	Class A Common Stock	20,000	$4.02	$80K
Sale	Class A Common Stock	20,000	$4.00	$80K
Sale	Class A Common Stock	10,000	$4.01	$40K
Sale	Class A Common Stock	10,000	$4.01	$40K
Sale	Class A Common Stock	10,000	$4.03	$40K
Sale	Class A Common Stock	20,000	$4.01	$80K
Sale	Class A Common Stock	20,000	$4.00	$80K
Sale	Class A Common Stock	10,000	$4.00	$40K
Sale	Class A Common Stock	10,000	$4.02	$40K
Sale	Class A Common Stock	10,000	$4.00	$40K

Holdings After Transaction: Class A Common Stock — 9,898,832 shares (Direct)

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did AREC insider Alex Lau report on Form 4?

Multiple open-market sales (code S) of Class A common stock on 11/10/2025 at prices between $4.00 and $4.13.

How many AREC shares does the insider hold after the transactions?

Direct beneficial ownership is 9,898,832 shares after the reported trades.

What was the price range for the AREC stock sales?

Reported sales occurred between $4.00 and $4.13 per share.

Were any derivative securities involved in this filing?

No. The filing shows no derivative securities acquired or disposed.

What is the transaction code used in the filing?

The transactions are marked with code S, indicating open-market or private sales.

Is Alex Lau a director or officer of AREC?

The filing indicates the reporting person is a Director of American Resources Corp.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 11/12/2025 - 02:17 PM EST Learn about SEC filing dates

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)
11/10/2025

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	11/10/2025		S		10,000	D	$4.13	10,278,832	D
Class A Common Stock	11/10/2025		S		10,000	D	$4.11	10,268,832	D
Class A Common Stock	11/10/2025		S		10,000	D	$4.11	10,258,832	D
Class A Common Stock	11/10/2025		S		20,000	D	$4.1	10,238,832	D
Class A Common Stock	11/10/2025		S		20,000	D	$4.09	10,218,832	D
Class A Common Stock	11/10/2025		S		20,000	D	$4.05	10,198,832	D
Class A Common Stock	11/10/2025		S		10,000	D	$4.05	10,188,832	D
Class A Common Stock	11/10/2025		S		10,000	D	$4.06	10,178,832	D
Class A Common Stock	11/10/2025		S		20,000	D	$4.07	10,158,832	D
Class A Common Stock	11/10/2025		S		10,000	D	$4.04	10,148,832	D
Class A Common Stock	11/10/2025		S		10,000	D	$4.03	10,138,832	D
Class A Common Stock	11/10/2025		S		10,000	D	$4.04	10,128,832	D
Class A Common Stock	11/10/2025		S		10,000	D	$4.03	10,118,832	D
Class A Common Stock	11/10/2025		S		10,000	D	$4.02	10,108,832	D
Class A Common Stock	11/10/2025		S		10,000	D	$4.05	10,098,832	D
Class A Common Stock	11/10/2025		S		10,000	D	$4.01	10,088,832	D
Class A Common Stock	11/10/2025		S		20,000	D	$4.07	10,068,832	D
Class A Common Stock	11/10/2025		S		10,000	D	$4	10,058,832	D
Class A Common Stock	11/10/2025		S		10,000	D	$4.02	10,048,832	D
Class A Common Stock	11/10/2025		S		10,000	D	$4	10,038,832	D
Class A Common Stock	11/10/2025		S		20,000	D	$4.02	10,018,832	D
Class A Common Stock	11/10/2025		S		20,000	D	$4	9,998,832	D
Class A Common Stock	11/10/2025		S		10,000	D	$4.01	9,988,832	D
Class A Common Stock	11/10/2025		S		10,000	D	$4.01	9,978,832	D
Class A Common Stock	11/10/2025		S		10,000	D	$4.03	9,968,832	D
Class A Common Stock	11/10/2025		S		20,000	A	$4.01	9,948,832	D
Class A Common Stock	11/10/2025		S		20,000	D	$4	9,928,832	D
Class A Common Stock	11/10/2025		S		10,000	D	$4	9,918,832	D
Class A Common Stock	11/10/2025		S		10,000	D	$4.02	9,908,832	D
Class A Common Stock	11/10/2025		S		10,000	D	$4	9,898,832	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	11/12/2025
	** 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.