[Form 4] Core Natural Resources, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Insider sale under prearranged plan at Core Natural Resources (CNR)

Chief Accounting Officer John Rothka reported an automatic sale of 2,500 shares of Core Natural Resources common stock on 10/03/2025 at a price of $90 per share under a Rule 10b5-1 trading plan adopted on 03/24/2025. After the sale he beneficially owns 11,307 shares, of which 828 are unvested restricted stock units. The Form 4 was signed by an attorney-in-fact on 10/06/2025.

Positive

• Transaction executed under a Rule 10b5-1 plan, indicating a prearranged, automated sale
• Reporting included unvested RSUs disclosure (828 shares), improving transparency about locked holdings

Negative

• Insider sold 2,500 shares, reducing direct beneficial ownership
• 828 shares are unvested, limiting immediate alignment through fully vested equity

Insights

Compliance & Governance Analyst

Sale executed under a Rule 10b5-1 plan, indicating a prearranged transaction.

The reported 2,500-share sale at $90 was effected automatically under a Rule 10b5-1 plan adopted on 03/24/2025, which provides an affirmative defense against insider trading claims when plan conditions are met. Use of such a plan signals the transaction was pre-scheduled rather than opportunistic.

The remaining 11,307 shares include 828 unvested restricted stock units, which limits immediate liquidity. Monitor subsequent Form 4s for further automated sales or exercises tied to the plan within the next 12 months.

Equity Holdings Impact Specialist

Insider ownership fell modestly but retains a stake including unvested RSUs.

The sale reduced direct beneficial ownership by 2,500 shares; post-transaction holdings are 11,307 shares. The presence of 828 unvested restricted stock units means a portion of the stake remains subject to vesting conditions and not freely tradable.

For investors tracking insider alignment, compare this holding to total outstanding shares to assess materiality; absent that figure, the change should be viewed as an incremental liquidity event rather than a definitive governance signal in the near term.

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).

X

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^*

Rothka John

(Last) (First) (Middle)

275 TECHNOLOGY DRIVE, SUITE 101

(Street)

CANONSBURG PA 15317

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Core Natural Resources, Inc. [ CNR ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
10/03/2025

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, par value $0.01 per share	10/03/2025		S(1)		2,500	D	$90	11,307(2)	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:

1. The sale of shares was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 24, 2025 and represents an automatic sale.

2. Of the 11,307 shares reported, 828 are unvested restricted stock units.

	/s/ Rosemary L. Klein, Attorney-in-Fact for John Rothka	10/06/2025
	** 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 Core Natural Resources (CNR) insider John Rothka sell?

He sold 2,500 shares of common stock at $90 per share on 10/03/2025.

Was the sale by John Rothka planned or discretionary?

The sale was automatic under a Rule 10b5-1 trading plan adopted on 03/24/2025, indicating a prearranged transaction.

How many CNR shares does John Rothka own after the sale?

He beneficially owns 11,307 shares following the reported transaction.

Are any of John Rothka's CNR shares restricted or unvested?

Yes, 828 of the 11,307 shares are unvested restricted stock units.

Who signed the Form 4 for John Rothka?

The Form 4 was signed by Rosemary L. Klein, Attorney-in-Fact on 10/06/2025.