Rankin (NC) Form 4 Shows Trust Holdings and 10/01/2025 Trades

Rhea-AI Filing Summary

Rankin Elizabeth B, an officer of NACCO INDUSTRIES, INC. (ticker NC), reported transactions in Class A common stock with an earliest transaction date of 10/01/2025. The filing shows an acquisition of 707 Class A shares and a disposition of 722 Class A shares. The report lists multiple blocks of Class A shares held indirectly through trusts, Rankin Associates II, L.P., and by the reporting persons spouse and minor-child trusts, with amounts disclosed for each holding (examples include 36,139, 2,058, 4,384, and others). Explanations state several holdings are held in trusts for family members and that the reporting person disclaims beneficial ownership of certain shares. The form is signed by attorney-in-fact Matthew J. Dilluvio on 10/02/2025.

Positive

• Acquisition of 707 Class A shares is disclosed (10/01/2025)
• Detailed trust and ownership disclosure clarifies indirect holdings and disclaimers

Negative

• Disposition of 722 Class A shares is disclosed (10/01/2025)
• Filing does not provide an aggregate post-transaction ownership percentage for the reporting person

Insights

Corporate Governance Specialist

TL;DR: Officer filed multiple trust-related stock entries showing both a small acquisition and a small disposal on 10/01/2025.

The Form 4 documents an acquisition of 707 Class A shares and a disposition of 722 Class A shares by or on behalf of the reporting person on 10/01/2025. Several holdings are attributed to trusts, Rankin Associates II, L.P., and the reporting persons spouse or minor-child trusts; the filer explicitly disclaims beneficial ownership for certain trust-held shares. This filing records ownership structure and recent movements but does not state aggregate company-wide ownership percentages or a total post-transaction beneficial ownership percentage.

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).

1. Name and Address of Reporting Person^*

RANKIN ELIZABETH B

(Last) (First) (Middle)

NACCO INDUSTRIES, INC.

22901 MILLCREEK BLVD., SUITE 600

(Street)

CLEVELAND OH 44122

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NACCO INDUSTRIES INC [ NC ]

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

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Member of a group

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

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	10/01/2025		A(1)		707	A	(2)	36,139	I	By Trust/Spouse(3)
Class A Common Stock								722	D
Class A Common Stock								2,058	I	By RAII(4)
Class A Common Stock								4,384	I	By Spouse/Co-Trustee for Child1/RAII(5)
Class A Common Stock								645	I	By Spouse/Co-Trustee for Child1/Trust(6)
Class A Common Stock								500	I	By Spouse(7)
Class A Common Stock								7,637	I	By RAII/Spouse(8)
Class A Common Stock								4,236	I	By Spouse/Co-Trustee for Child2/RAII(5)
Class A Common Stock								563	I	By Spouse/Co-Trustee for Child2/Trust(6)

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. Spouse's shares of Class A Common Stock awarded to the Reporting Person's spouse as "Required Shares" under the company's Non-Employee Directors' Equity Compensation Plan.

2. N/A

3. Held in Trust for benefit of Reporting Person's spouse. Reporting Person disclaims beneficial ownership of all such shares.

4. Represents the Reporting Person's proportionate limited partnership interests in shares held by Rankin Associates II, L.P .

5. Held by Trust for the benefit of Reporting Person's minor child. Spouse serves as co-trustee with PNC bank. Shares represent the minor child's proportionate limited interests in shares held by Rankin Associates II, L.P. Reporting Person disclaims beneficial ownership of all such shares.

6. Held by a trust for Reporting Person's minor child. Reporting Person's spouse and Reporting Person's spouse's brother, James T. Rankin, serve as co-trustees of the trust. Reporting Person disclaims beneficial ownership of all such shares.

7. By Spouse. Reporting Person disclaims beneficial ownership of all such shares.

8. Represents the Reporting Person's spouse's proportionate limited partnership interests in shares held by Rankin Associates II, L. P. Reporting Person disclaims beneficial ownership of all such shares.

	/s/ Matthew J. Dilluvio, attorney-in-fact	10/02/2025
	** 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 transactions did Rankin Elizabeth B report on Form 4 for NACCO Industries (NC)?

The filing reports an acquisition of 707 Class A shares and a disposition of 722 Class A shares with an earliest transaction date of 10/01/2025.

Are any shares held indirectly by family trusts or partnerships in this Form 4?

Yes. The Form 4 lists multiple indirect holdings held in trusts, by Rankin Associates II, L.P., and by the reporting persons spouse and minor-child trusts, with specific share amounts disclosed (for example, 36,139, 2,058, 4,384).

Does the filing state whether the reporting person claims beneficial ownership of trust-held shares?

The filing explicitly states the reporting person disclaims beneficial ownership of certain shares held in trusts for the spouse and minor children.

When was the Form 4 signed and filed?

The form is signed by attorney-in-fact Matthew J. Dilluvio on 10/02/2025 and lists the earliest transaction date as 10/01/2025.

Which security class is covered by this Form 4?

All reported transactions relate to Class A Common Stock of NACCO Industries, Inc. (ticker NC).