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[Form 4] Ramaco Resources, Inc. Insider Trading Activity

Filing Impact
(High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Ramaco Resources director-affiliated funds reported multi-day open-market sales of Class B common stock. Entities associated with director Peter A. Leidel, including Yorktown Energy Partners IX, X and XI, sold a combined 52,410 shares from March 24–30, 2026 at weighted-average prices generally between $10.06 and $11.91 per share.

After the March 30 trades, these entities continued to hold large positions, including 1,232,732, 814,793 and 1,216,317 shares respectively, indicating they remain significant holders. The filing notes the reporting person disclaims beneficial ownership except to the extent of pecuniary interest, and some shares were previously received as payment-in-kind dividends on preferred stock.

Positive

  • None.

Negative

  • None.

Insights

Director-affiliated funds executed routine open-market sales while retaining sizable positions.

Entities linked to Ramaco Resources director Peter A. Leidel sold a total of 52,410 shares of Class B common stock in open-market transactions across March 24–30, 2026. Reported weighted-average sale prices ranged from about $10.06 to $11.91 per share.

The transactions are indirect, attributed to Yorktown Energy Partners IX, X and XI, with the reporting person disclaiming beneficial ownership beyond pecuniary interest. Post-transaction holdings remain large, with examples of 1,232,732, 814,793 and 1,216,317 shares, suggesting these are partial stake reductions rather than exits.

The filing also highlights prior receipt of shares as payment-in-kind dividends on preferred stock pursuant to Rule 16a-9(a). Overall, this Form 4 reflects fund-level portfolio management activity rather than a structural change in Ramaco Resources’ ownership, so its impact on the broader investment thesis appears limited.

Insider LEIDEL PETER A
Role null
Sold 52,410 shs ($577K)
Type Security Shares Price Value
Sale Class B Common Stock, par value $0.01 per share 2,266 $10.3381 $23K
Sale Class B Common Stock, par value $0.01 per share 1,518 $10.3381 $16K
Sale Class B Common Stock, par value $0.01 per share 2,297 $10.3381 $24K
Sale Class B Common Stock, par value $0.01 per share 8,059 $10.9327 $88K
Sale Class B Common Stock, par value $0.01 per share 5,398 $10.9327 $59K
Sale Class B Common Stock, par value $0.01 per share 8,168 $10.9327 $89K
Sale Class B Common Stock, par value $0.01 per share 2,364 $10.7833 $25K
Sale Class B Common Stock, par value $0.01 per share 1,583 $10.7833 $17K
Sale Class B Common Stock, par value $0.01 per share 2,396 $10.7833 $26K
Sale Class B Common Stock, par value $0.01 per share 3,823 $11.2376 $43K
Sale Class B Common Stock, par value $0.01 per share 2,561 $11.2376 $29K
Sale Class B Common Stock, par value $0.01 per share 3,874 $11.2376 $44K
Sale Class B Common Stock, par value $0.01 per share 3,020 $11.5756 $35K
Sale Class B Common Stock, par value $0.01 per share 2,023 $11.5756 $23K
Sale Class B Common Stock, par value $0.01 per share 3,060 $11.5756 $35K
Holdings After Transaction: Class B Common Stock, par value $0.01 per share — 1,216,317 shares (Indirect, See Footnote)
Footnotes (1)
  1. The reporting person disclaims beneficial ownership of these securities except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for Section 16 or any other purpose. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.20 to $11.91, inclusive. The weighted-average sale price reflected has been rounded to 4 decimal points. The reporting person undertakes to Ramaco Resources, Inc. (the "Issuer"), any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnotes (2), (3),(4),(5), and (6). The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.00 to $11.92, inclusive. The weighted-average sale price reflected has been rounded to 4 decimal points. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.50 to $11.325, inclusive. The weighted-average sale price reflected has been rounded to 4 decimal points. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.55 to $11.285, inclusive. The weighted-average sale price reflected has been rounded to 4 decimal points. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.06 to $10.6975, inclusive. The weighted-average sale price reflected has been rounded to 4 decimal points. Reflects 220,074 shares of common stock received by the reporting person as payment-in-kind dividends on Series A Preferred Stock and Series B Preferred Stock exempt from reporting under Rule 16a-9(a). Reflects 159,153 shares of common stock received by the reporting person as payment-in-kind dividends on Series A Preferred Stock and Series B Preferred Stock exempt from reporting under Rule 16a-9(a). Reflects 240,791 shares of common stock received by the reporting person as payment-in-kind dividends on Series A Preferred Stock and Series B Preferred Stock exempt from reporting under Rule 16a-9(a). These securities are owned directly by Yorktown Energy Partners IX, L.P. ("Yorktown IX"). The reporting person is a member and manager of Yorktown IX Associates LLC, the general partner of Yorktown IX Company LP, the General Partner of Yorktown IX. These securities are owned directly by Yorktown Energy Partners X, L.P. ("Yorktown X"). The reporting person is a member and manager of Yorktown X Associates LLC, the general partner of Yorktown X Company LP, the General Partner of Yorktown X. These securities are owned directly by Yorktown Energy Partners XI, L.P. ("Yorktown XI"). The reporting person is a member and manager of Yorktown XI Associates LLC, the general partner of Yorktown XI Company LP, the General Partner of Yorktown XI.
Shares sold 52,410 shares Net open-market sales March 24–30, 2026
Weighted-average sale price range $10.06–$11.91 per share Price ranges from multiple footnotes F2–F6
Yorktown IX holding 1,232,732 shares Shares outstanding for one Yorktown fund after March 30, 2026 sale
Yorktown X holding 814,793 shares Shares outstanding for another Yorktown fund after March 30, 2026 sale
Yorktown XI holding 1,216,317 shares Shares outstanding for third Yorktown fund after March 30, 2026 sale
PIK dividend shares batch 1 220,074 shares Payment-in-kind dividends on Series A and B Preferred Stock
PIK dividend shares batch 2 159,153 shares Additional payment-in-kind dividends on Series A and B Preferred Stock
PIK dividend shares batch 3 240,791 shares Additional payment-in-kind dividends on Series A and B Preferred Stock
Class B Common Stock financial
"Class B Common Stock, par value $0.01 per share"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
weighted average price financial
"The price reported in column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
payment-in-kind dividends financial
"Reflects 220,074 shares of common stock received by the reporting person as payment-in-kind dividends"
Rule 16a-9(a) regulatory
"dividends on Series A Preferred Stock and Series B Preferred Stock exempt from reporting under Rule 16a-9(a)."
beneficial ownership financial
"The reporting person disclaims beneficial ownership of these securities except to the extent of its pecuniary interest"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
Section 16 regulatory
"beneficial owner of the securities for Section 16 or any other purpose."
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
LEIDEL PETER A
(Last)(First)(Middle)
410 PARK AVENUE
20TH FLOOR
(Street)
NEW YORK NEW YORK 10022
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Ramaco Resources, Inc. [ METC ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
03/24/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Class B Common Stock, par value $0.01 per share03/24/2026S3,020(1)D$11.5756(2)1,232,829(1)(7)ISee Footnote(10)
Class B Common Stock, par value $0.01 per share03/24/2026S2,023(1)D$11.5756(2)825,853(1)(8)ISee Footnote(11)
Class B Common Stock, par value $0.01 per share03/24/2026S3,060(1)D$11.5756(2)1,249,467(1)(9)ISee Footnote(12)
Class B Common Stock, par value $0.01 per share03/25/2026S3,823(1)D$11.2376(3)1,229,006(1)ISee Footnote(10)
Class B Common Stock, par value $0.01 per share03/25/2026S2,561(1)D$11.2376(3)823,292(1)ISee Footnote(11)
Class B Common Stock, par value $0.01 per share03/25/2026S3,874(1)D$11.2376(3)1,245,593(1)ISee Footnote(12)
Class B Common Stock, par value $0.01 per share03/26/2026S2,364(1)D$10.7833(4)1,226,642(1)ISee Footnote(10)
Class B Common Stock, par value $0.01 per share03/26/2026S1,583(1)D$10.7833(4)821,709(1)ISee Footnote(11)
Class B Common Stock, par value $0.01 per share03/26/2026S2,396(1)D$10.7833(4)1,243,197(1)ISee Footnote(12)
Class B Common Stock, par value $0.01 per share03/27/2026S8,059(1)D$10.9327(5)1,218,513(1)ISee Footnote(10)
Class B Common Stock, par value $0.01 per share03/27/2026S5,398(1)D$10.9327(5)816,311(1)ISee Footnote(11)
Class B Common Stock, par value $0.01 per share03/27/2026S8,168(1)D$10.9327(5)1,235,029(1)ISee Footnote(12)
Class B Common Stock, par value $0.01 per share03/30/2026S2,266(1)D$10.3381(6)1,216,317(1)ISee Footnote(10)
Class B Common Stock, par value $0.01 per share03/30/2026S1,518(1)D$10.3381(6)814,793(1)ISee Footnote(11)
Class B Common Stock, par value $0.01 per share03/30/2026S2,297(1)D$10.3381(6)1,232,732(1)ISee Footnote(12)
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. The reporting person disclaims beneficial ownership of these securities except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for Section 16 or any other purpose.
2. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.20 to $11.91, inclusive. The weighted-average sale price reflected has been rounded to 4 decimal points. The reporting person undertakes to Ramaco Resources, Inc. (the "Issuer"), any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnotes (2), (3),(4),(5), and (6).
3. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.00 to $11.92, inclusive. The weighted-average sale price reflected has been rounded to 4 decimal points.
4. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.50 to $11.325, inclusive. The weighted-average sale price reflected has been rounded to 4 decimal points.
5. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.55 to $11.285, inclusive. The weighted-average sale price reflected has been rounded to 4 decimal points.
6. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.06 to $10.6975, inclusive. The weighted-average sale price reflected has been rounded to 4 decimal points.
7. Reflects 220,074 shares of common stock received by the reporting person as payment-in-kind dividends on Series A Preferred Stock and Series B Preferred Stock exempt from reporting under Rule 16a-9(a).
8. Reflects 159,153 shares of common stock received by the reporting person as payment-in-kind dividends on Series A Preferred Stock and Series B Preferred Stock exempt from reporting under Rule 16a-9(a).
9. Reflects 240,791 shares of common stock received by the reporting person as payment-in-kind dividends on Series A Preferred Stock and Series B Preferred Stock exempt from reporting under Rule 16a-9(a).
10. These securities are owned directly by Yorktown Energy Partners IX, L.P. ("Yorktown IX"). The reporting person is a member and manager of Yorktown IX Associates LLC, the general partner of Yorktown IX Company LP, the General Partner of Yorktown IX.
11. These securities are owned directly by Yorktown Energy Partners X, L.P. ("Yorktown X"). The reporting person is a member and manager of Yorktown X Associates LLC, the general partner of Yorktown X Company LP, the General Partner of Yorktown X.
12. These securities are owned directly by Yorktown Energy Partners XI, L.P. ("Yorktown XI"). The reporting person is a member and manager of Yorktown XI Associates LLC, the general partner of Yorktown XI Company LP, the General Partner of Yorktown XI.
/s/ Peter A. Leidel06/10/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR