AREC insider sells 980,000 shares at $4.06; 11,409,960 remain

American Resources Corp (AREC): Reporting person Alex Lau filed a Form 4 disclosing an open-market sale of 980,000 shares of common stock at $4.06 per share on 10/17/2025 (transaction code S).

Rhea-AI Filing Summary

American Resources Corp (AREC): Reporting person Alex Lau filed a Form 4 disclosing an open-market sale of 980,000 shares of common stock at $4.06 per share on 10/17/2025 (transaction code S). Following the transaction, the filer reports 11,409,960 shares beneficially owned, held directly.

The filing indicates it was submitted by one reporting person. The role box shows service as a Director.

Insights

Equity Governance Analyst

Large insider sale reported; holdings remain sizable but reduced.

American Resources Corp (AREC) disclosed a director’s open-market sale coded "S" of 980,000 common shares on 10/17/2025 at $4.06 per share. Following the transaction, the reporting person directly beneficially owns 11,409,960 shares. This is a direct ownership position as indicated by "D".

Form 4 signals a change in insider holdings. A sale of this size can increase available float and may suggest portfolio rebalancing or liquidity needs, though no plan election is indicated here. The filing does not reference derivative activity; Table II shows no entries.

Key items to watch: any follow-on Form 4s by the same insider in the near term, aggregate insider net activity, and whether future filings indicate plan-based trades under Rule 10b5-1. The next few weeks after 10/17/2025 provide context for whether this was a one-off or part of a broader pattern.

Insider Trade Summary

Net Seller: 980,000 shares

Net Sell 1 txn

Insider GOLDEN PROPERTIES LTD.

Role 10% Owner

Sold 980,000 shs ($3.98M)

Type	Security	Shares	Price	Value
Sale	Common Stock	980,000	$4.06	$3.98M

Holdings After Transaction: Common Stock — 11,409,960 shares (Direct)

FAQ

What did AREC's insider report on Form 4?

A sale of 980,000 shares of common stock at $4.06 per share on 10/17/2025 (code S).

Who filed the Form 4 for AREC?

The filing was signed by Alex Lau.

How many AREC shares does the filer own after the sale?

The filer reports 11,409,960 shares beneficially owned directly after the transaction.

What was the transaction code on the Form 4?

Transaction code S, indicating an open-market or private sale of non-derivative securities.

What is the filer’s reported relationship to AREC?

The relationship box indicates the filer is a Director.

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

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Accepted by SEC EDGAR 10/20/2025 - 05:00 PM 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)
10/17/2025

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
Common Stock	10/17/2025		S		980,000	D	$4.06	11,409,960	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	10/20/2025
	** 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.