GOLDEN PROPERTIES LTD. boosts AREC (AREC) stake with 1M-share purchase

Q: Who is the reporting person in the AREC Form 4 filing?

The reporting person is GOLDEN PROPERTIES LTD. It is identified as a 10% owner of American Resources Corp. and filed the Form 4 as a single reporting person, reflecting its direct beneficial ownership of the reported Class A common stock.

Q: When did GOLDEN PROPERTIES LTD. buy AREC shares and at what price?

The purchase occurred on August 19, 2025. GOLDEN PROPERTIES LTD. acquired 1,000,000 shares of American Resources Corp. Class A common stock in an open-market transaction at a reported price of $1.26 per share.

Q: Is the AREC Form 4 transaction a buy or sell by the insider?

The transaction is a reported purchase. The Form 4 lists transaction code “P,” described as an open-market or private purchase, and characterizes the direction as a buy of 1,000,000 Class A common shares.

Q: What type of security was involved in the AREC insider transaction?

The transaction involved Class A common stock. Table I of the Form 4 specifies that GOLDEN PROPERTIES LTD. acquired 1,000,000 shares of American Resources Corp. Class A common stock, with no derivative securities reported in Table II.

Filing Impact

(Very High)

Filing Sentiment

(Positive)

Form Type

Rhea-AI Filing Summary

American Resources Corp. disclosed that GOLDEN PROPERTIES LTD.August 19, 2025, the reporting holder made an open-market purchase of 1,000,000 shares at a price of $1.26 per share. After this transaction, GOLDEN PROPERTIES LTD. directly owned 12,389,960 shares of American Resources Corp. Class A common stock.

Positive

None.

Negative

None.

Insider Trade Summary

Net Buyer: 1,000,000 shares ($1,260,000)

Net Buy 1 txn

Insider GOLDEN PROPERTIES LTD.

Role 10% Owner

Bought 1,000,000 shs ($1.26M)

Type Security Shares Price Value

Purchase Class A Common Stock 1,000,000 $1.26 $1.26M

Holdings After Transaction: Class A Common Stock — 12,389,960 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

08/20/2025 - 12:33 PM

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)
08/19/2025

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 08/19/2025 P 1,000,000 D $1.26 12,389,960 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 08/20/2025

** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did AREC disclose in this Form 4?

American Resources Corp. reported a large insider purchase. GOLDEN PROPERTIES LTD., a 10% owner, bought 1,000,000 shares of Class A common stock in an open-market transaction, increasing its direct holdings to 12,389,960 shares after the trade.

Who is the reporting person in the AREC Form 4 filing?

The reporting person is GOLDEN PROPERTIES LTD. It is identified as a 10% owner of American Resources Corp. and filed the Form 4 as a single reporting person, reflecting its direct beneficial ownership of the reported Class A common stock.

When did GOLDEN PROPERTIES LTD. buy AREC shares and at what price?

The purchase occurred on August 19, 2025. GOLDEN PROPERTIES LTD. acquired 1,000,000 shares of American Resources Corp. Class A common stock in an open-market transaction at a reported price of $1.26 per share.

How many AREC shares does GOLDEN PROPERTIES LTD. own after this transaction?

Post-transaction, GOLDEN PROPERTIES LTD. holds 12,389,960 shares. The Form 4 shows this amount as the total Class A common stock beneficially owned directly following the 1,000,000-share open-market purchase.

Is the AREC Form 4 transaction a buy or sell by the insider?

The transaction is a reported purchase. The Form 4 lists transaction code “P,” described as an open-market or private purchase, and characterizes the direction as a buy of 1,000,000 Class A common shares.

What type of security was involved in the AREC insider transaction?

The transaction involved Class A common stock. Table I of the Form 4 specifies that GOLDEN PROPERTIES LTD. acquired 1,000,000 shares of American Resources Corp. Class A common stock, with no derivative securities reported in Table II.

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	08/19/2025		P		1,000,000	D	$1.26	12,389,960	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

	/s/ Alex Lau	08/20/2025
	** 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.