Yorktown funds sell 1.6M Ramaco shares in secondary offering at $18.75

Rhea-AI Filing Summary

Ramaco Resources Form 4 shows affiliated Yorktown funds sold shares of the issuer in a secondary offering overallotment. The filing reports three sales on 08/08/2025 by Yorktown IX, Yorktown X and Yorktown XI of 527,910, 426,627 and 645,463 shares, respectively, at a public price of $18.75 per share. These sales are described as resulting from the exercise in full of the underwriters' overallotment option for a registered secondary offering. The reporting person, Bryan H. Lawrence, disclaims beneficial ownership except to his pecuniary interest and is identified as member and manager of the general partner entities for the Yorktown funds. The filing also corrects a prior mathematical error in a March filing regarding a reported ending balance for Yorktown IX.

Positive

• None.

Negative

• Yorktown-affiliated funds sold a total of 1,600,000 Class A shares (527,910; 426,627; 645,463) at $18.75 per share in connection with the overallotment exercise, representing a sizable issuance-related sale.

Insights

Securities Analyst

TL;DR Yorktown-affiliated funds sold a material block of Ramaco shares via an overallotment exercise; this is a coordinated secondary offering sale, not an individual open-market trade.

These sales total 1,600,000 shares at $18.75 and are explicitly tied to the underwriters' overallotment option for a registered secondary offering. The reporting person is an affiliated manager and disclaims beneficial ownership except for pecuniary interest, which frames these as fund-level liquidity actions rather than personal divestiture. Investors should treat the disclosure as notable issuance-related selling rather than a signal of individual insider disposition.

Corporate Governance Expert

TL;DR Form 4 documents affiliated fund sales through an underwriting transaction; governance disclosure is clear about roles and disclaimers.

The report identifies Bryan H. Lawrence as member and manager of the general partner entities for Yorktown IX, X and XI and includes a clear disclaimer of beneficial ownership except to the extent of pecuniary interest. The filing also corrects a prior mathematical error, which demonstrates attention to record accuracy. From a governance perspective, the form provides required transparency on related-party fund sales tied to a registered offering.

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^*

LAWRENCE BRYAN H

(Last) (First) (Middle)

410 PARK AVENUE

20TH FLOOR

(Street)

NEW YORK NY 10022

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
08/08/2025

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, par value $0.01 per share	08/08/2025		S		527,910(1)	D	$18.75(2)	3,097,134(1)(6)	I	See Footnote(3)
Class A Common Stock, par value $0.01 per share	08/08/2025		S		426,627(1)	D	$18.75(2)	2,502,930(1)	I	See Footnote(4)
Class A Common Stock, par value $0.01 per share	08/08/2025		S		645,463(1)	D	$18.75(2)	3,786,797(1)	I	See Footnote(5)
Class A Common Stock, par value $0.01 per share								134,877	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 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. On August 8, 2025, Yorktown Energy Partners IX L.P. ("Yorktown IX"), Yorktown Energy Partners X L.P. ("Yorktown X"), and Yorktown Energy Partners XI L.P. ("Yorktown XI") sold shares of Class A Common Stock at a price of $18.75, before underwriting discounts and commissions, in connection with the exercise in full of the overallotment option granted by Yorktown IX, Yorktown X, and Yorktown XI, to the underwriters pursuant to the underwriting agreement for a registered underwritten secondary offering by the Issuer. The reported price is the price to the public in the secondary offering before underwriting discounts and commissions.

3. These securities are owned directly by 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.

4. These securities are owned directly by 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.

5. These securities are owned directly by 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.

6. A mathematical error was made on the Form 4 filed on March 27, 2025 that misstated the ending balance of the Class A Common Stock held by Yorktown IX. The reported number of 3,662,881 should have been reported as 3,625,044 to account for the properly reported sale on March 27, 2025 of 37,837 shares.

	/s/ Bryan H. Lawrence	08/11/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What transactions are reported in the Form 4 for Ramaco Resources (METCL)?

The Form 4 reports sales on 08/08/2025 by Yorktown IX, Yorktown X and Yorktown XI of 527,910, 426,627 and 645,463 Class A shares, respectively, at $18.75 per share tied to an overallotment exercise.

Who filed the Form 4 and what is their relationship to the issuer?

The reporting person is Bryan H. Lawrence, identified as a director in the form and as member and manager of the general partner entities for Yorktown IX, Yorktown X and Yorktown XI.

How many shares were sold in total and at what price?

A combined 1,600,000 shares were sold at a public price of $18.75 per share as reported in the filing.

What were the reported holdings after these transactions?

The filing reports indirect beneficial ownership following the transactions of 3,097,134, 2,502,930 and 3,786,797 shares for Yorktown IX, X and XI, respectively, and a reported direct holding of 134,877 shares.

Was there any correction to prior filings noted?

Yes. The filing states a mathematical error in a Form 4 filed on March 27, 2025: an ending balance previously reported as 3,662,881 should have been 3,625,044 for Yorktown IX.