Ramaco Resources (METC) EVP logs performance-based stock and RSU vesting

Rhea-AI Filing Summary

Ramaco Resources EVP Mine Operations Paul Bryan Horn Jr. reported multiple equity award vestings and related share withholdings on January 30, 2026. Performance stock units granted in February 2023 vested after the compensation committee certified pre-set performance targets at 200% for the period from January 1, 2023 to December 31, 2025, resulting in additional awards of 23,970 Class A and 4,794 Class B shares. Several restricted stock and restricted stock unit installments for Class A and Class B common stock also vested, with portions of the vested shares in both classes surrendered at prices of $19.97 for Class A and $12.43 for Class B to satisfy tax obligations rather than through open market sales. Following these transactions, Horn directly held updated balances of both Class A and Class B common stock, as well as remaining restricted stock units.

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^*

Horn Paul Bryan Jr.

(Last) (First) (Middle)

250 W. MAIN STREET

SUITE 1900

(Street)

LEXINGTON KY 40507

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Ramaco Resources, Inc. [ METC ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP Mine Operations

3. Date of Earliest Transaction (Month/Day/Year)
01/30/2026

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	01/30/2026		F(1)		3,652	D	$19.97	27,905	D
Class A common stock	01/30/2026		M(2)(9)		47,940	A	$0	75,845	D
Class A common stock	01/30/2026		F(3)		20,626	D	$19.97	55,219	D
Class A common stock	01/30/2026		M(4)(5)(6)		35,088	A	$0	90,307	D
Class A common stock	01/30/2026		F(3)		15,096	D	$19.97	75,211	D
Class B common stock	01/30/2026		M(2)(11)		9,588	A	$0	16,996(7)	D
Class B common stock	01/30/2026		F(16)		4,125	D	$12.43	12,871	D
Class B common stock	01/30/2026		M(4)		1,598	A	$0	14,469	D
Class B common stock	01/30/2026		F(16)		688	D	$12.43	13,781	D
Class B common stock	01/30/2026		M(14)		2,350	A	$0	16,131	D
Class B common stock	01/30/2026		F(16)		1,011	D	$12.43	15,120	D
Class B common stock	01/30/2026		F(16)(17)		731	D	$12.43	14,389	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
Performance Stock Units	(8)	01/30/2026		M(2)			23,970	(2)	(2)	Class A common stock	23,970	$0	0	D
Performance Stock Units	(8)	01/30/2026		A(2)		23,970(9)		(2)	(2)	Class A common stock	23,970	$0	23,970	D
Performance Stock Units	(8)	01/30/2026		M(2)			23,970(9)	(2)	(2)	Class A common stock	23,970	$0	0	D
Performance Stock Units	(10)	01/30/2026		M(2)			4,794	(2)	(2)	Class B common stock	4,794	$0	0	D
Performance Stock Units	(10)	01/30/2026		A(2)		4,794(11)		(2)	(2)	Class B common stock	4,794	$0	4,794	D
Performance Stock Units	(10)	01/30/2026		M(2)			4,794(11)	(2)	(2)	Class B common stock	4,794	$0	0	D
Restricted Stock Units	(12)	01/30/2026		M(4)			7,990	(4)	(4)	Class A common stock	7,990	$0	0	D
Restricted Stock Units	(12)	01/30/2026		M(5)			5,098	(5)	(5)	Class A common stock	5,098	$0	5,098	D
Restricted Stock Units	(12)	01/30/2026		M(6)			22,000	(6)	(6)	Class A common stock	22,000	$0	43,998	D
Restricted Stock Units	(13)	01/30/2026		M(4)			1,598	(4)	(4)	Class B common stock	1,598	$0	0	D
Dividend Equivalent Units	(14)	01/30/2026		M			2,350	(15)	(15)	Class B common stock	2,350	$0	0	D

Explanation of Responses:

1. On September 16, 2022, the Reporting Person received a restricted stock grant of 25,467 shares (the "September Grant") under the Ramaco Resources, Inc. 's (the "Company") 2017 Long Term Incentive Plan. The third and final annual installment under the September Grant vested on January 30, 2026. Amount reflects shares surrendered upon vesting to satisfy tax obligations. The number of shares surrendered was based on the closing price of the Issuer's Class A common stock on January 29, 2026.

2. The performance stock units granted on February 20, 2023 under the Company's Long Term Incentive Plan vested on January 30, 2026 upon certification of performance by the Company's Compensation Committee of the Board of Directors (the "Committee"). The Committee certified the achievement of pre-established performance targets at 200% for the performance period beginning on January 1, 2023 and ending on December 31, 2025. As a result of the Committee Certification, the vesting of additional performance stock units for 23,970 shares of Class A and 4,794 shares of Class B stock was approved.

3. Shares surrendered upon vesting to satisfy tax obligations. The number of shares surrendered was based on the closing price of the Issuer's Class A common stock on January 29, 2026.

4. The third and final installment of restricted stock units granted on February 20, 2023 under the Company's Long Term Incentive Plan vested on January 30, 2026.

5. The second installment of restricted stock granted on February 29, 2024 under the Company's Long Term Incentive Plan vested on January 30, 2026. One annual installment remains from this grant.

6. The first installment of restricted stock units granted on February 24, 2025 under the Company's Long Term Incentive Plan vested on January 30, 2026. Two annual installments remain from this grant.

7. As a result of the four common stock dividends paid in Class B common stock 1) declared on December 5, 2024 and paid on March 14, 2025, 2) declared on March 17, 2025 and paid on June 13, 2025, 3) declared on August 22, 2025 and paid on September 19, 2025, and 4) declared on November 14, 2025 and paid on December 5, 2025 the reporting person received a total of 972 shares of Class B common Stock, which are included in the reported amount.

8. Each performance stock unit represents a contingent right to receive one share of Class A common stock.

9. Amount includes 23,970 Performance Stock Units for Class A common stock that vested because more than 100% of the pre-established performance targets were achieved during the performance period. See Footnote 2.

10. Each performance stock unit represents a contingent right to receive one share of Class B common stock.

11. Amount includes 4,794 Performance Stock Units for Class B common stock that vested because more than 100% of the pre-established performance targets were achieved during the performance period. Please see Footnote 2.

12. Each restricted stock unit represents a contingent right to receive one share of Class A common stock.

13. Each restricted stock unit represents a contingent right to receive one share of Class B common stock.

14. Dividend equivalent units underlying the three tranches of restricted stock units and the tranche of performance stock units listed above with respect to Class A common stock and with respect to Class B common stock. See footnotes 2, 4, 5 and 6 for further detail.

15. See Footnote 7 for further detail regarding the stock dividends.

16. Shares surrendered upon vesting to satisfy tax obligations. The number of shares surrendered was based on the closing price of the Issuer's Class B common stock on January 29, 2026.

17. On June 21, 2023, the Reporting Person received a restricted stock grant of 5,093 Class B shares (the "June Distribution") in the Company's distribution of the Class B common stock. The third and final annual installment under the June Distribution vested on January 30, 2026. Amount reflects shares surrendered upon vesting to satisfy tax obligations. The number of shares surrendered was based on the closing price of the Issuer's Class B common stock on January 29, 2026.

Remarks:

	/s/ Jonathan T Adkins, Attorney in Fact	02/02/2026
	** 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).
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FAQ

What did Ramaco Resources (METC) EVP Paul Bryan Horn Jr. report on this Form 4?

He reported vesting of performance stock units, restricted stock, and restricted stock units in Ramaco Resources Class A and Class B shares on January 30, 2026. Some of the vested shares were surrendered to cover tax obligations at specified per-share prices.

How many Ramaco Resources Class A performance stock units vested for the METC EVP?

The filing shows 23,970 performance stock units tied to Ramaco Resources Class A common stock vested. These units related to a February 20, 2023 grant, which vested after the compensation committee certified achievement of pre-established performance targets at 200% for the 2023–2025 performance period.

How many Ramaco Resources Class B performance stock units vested for the METC executive?

The document reports 4,794 performance stock units tied to Ramaco Resources Class B common stock vested. These units also came from the February 20, 2023 grant that vested when the compensation committee certified 200% achievement of performance targets over the January 1, 2023 to December 31, 2025 period.

Were Ramaco Resources METC shares sold on the open market in this Form 4?

No open market sales are described. Shares coded as “F” in the filing were surrendered upon vesting to satisfy tax obligations, with Class A shares valued at $19.97 and Class B shares valued at $12.43 based on the issuer’s January 29, 2026 closing prices.

What restricted stock and RSU awards for Ramaco Resources (METC) vested in this filing?

The third installment of restricted stock units from a February 20, 2023 grant, the second installment from a February 29, 2024 grant, and the first installment from a February 24, 2025 grant vested. These covered both Class A and Class B common stock under Ramaco’s long-term incentive plan.

How were Ramaco Resources dividend equivalent units treated in this METC Form 4?

Dividend equivalent units tied to three tranches of restricted stock units and one tranche of performance stock units for both Class A and Class B shares were reported. A transaction coded “M” for 2,350 dividend equivalent units converted into Class B common stock and then ceased as derivative holdings.

What role does the reporting person hold at Ramaco Resources (METC)?

The reporting person, Paul Bryan Horn Jr., is identified as an officer of Ramaco Resources with the title EVP Mine Operations. The Form 4 indicates the transactions reflect changes in his direct beneficial ownership under the company’s long-term incentive and equity compensation arrangements.