[Form 4] American Resources Corp Insider Trading Activity

Rhea-AI Filing Summary

American Resources Corp (AREC) insider reported multiple open-market sales of Class A Common Stock on 11/10/2025. Transactions were coded “S” and executed at prices between $4.07 and $4.15. Following these trades, the reporting person directly owned 9,781,987 shares.

The filing lists each sale with execution price and updates ownership after each transaction, indicating ongoing direct ownership following the activity.

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

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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^*

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	$4.12	9,888,832	D
Class A Common Stock	11/10/2025		S		20,000	D	$4.09	9,868,832	D
Class A Common Stock	11/10/2025		S		10,000	D	$4.11	9,858,832	D
Class A Common Stock	11/10/2025		S		10,000	D	$4.11	9,848,832	D
Class A Common Stock	11/10/2025		S		10,000	D	$4.15	9,838,832	D
Class A Common Stock	11/10/2025		S		10,000	D	$4.1	9,828,832	D
Class A Common Stock	11/10/2025		S		10,000	D	$4.12	9,818,832	D
Class A Common Stock	11/10/2025		S		10,000	A	$4.1	9,808,832	D
Class A Common Stock	11/10/2025		S		10,000	D	$4.07	9,798,832	D
Class A Common Stock	11/10/2025		S		10,000	D	$4.07	9,788,832	D
Class A Common Stock	11/10/2025		S		6,845	D	$4.07	9,781,987	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.

FAQ

What did AREC’s insider report on Form 4?

Multiple open-market sales of Class A Common Stock on 11/10/2025, coded “S.”

What prices were the AREC shares sold at?

Sales occurred between $4.07 and $4.15 per share.

How many AREC shares does the insider own after the trades?

Direct beneficial ownership is 9,781,987 shares after the reported transactions.

What is the transaction code shown on the Form 4?

Code S, indicating open-market or private sale of non-derivative securities.

Were any derivative securities involved?

No derivative transactions are listed; Table II shows no entries.

Was the filing made by one reporting person?

Yes. The form indicates it was filed by one reporting person.

Did the filing indicate a Rule 10b5-1 plan?

The form includes a checkbox for Rule 10b5-1(c), but the excerpt does not show it marked.