Form 4: NACCO SVP Elizabeth Loveman Sells 3,208 Shares

Rhea-AI Filing Summary

Elizabeth Loveman, SVP and Controller of NACCO Industries, Inc. (NC), reported an insider sale on 09/04/2025. She disposed of 3,208 shares of Class A common stock at $39.1816 per share, reducing her beneficial ownership to 23,066 shares. The Form 4 was signed by an attorney-in-fact on 09/05/2025. The filing records a routine sale by an officer and does not include derivatives or additional transactions.

Insights

Securities Analyst

TL;DR: Officer sold a modest block of shares; transaction appears routine and not material to company capital structure.

The Form 4 shows SVP and Controller Elizabeth Loveman sold 3,208 Class A shares at $39.1816, leaving 23,066 shares beneficially owned. This is a direct non-derivative sale with no related derivative activity disclosed. Given the absolute size disclosed and lack of other transactions, the sale reads as a routine insider disposition rather than a material corporate event.

Corporate Governance Expert

TL;DR: Disclosure is complete for the reported transaction; timing and authority are documented appropriately.

The Form 4 identifies the reporting person, her role as SVP and Controller, the transaction date (09/04/2025), sale quantity and price, and the remaining beneficial ownership. The form is signed by an attorney-in-fact on 09/05/2025. There are no indications of Rule 10b5-1 or other plan-related codes noted on the face of the filing.

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^*

Loveman Elizabeth

(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
X	Officer (give title below)		Other (specify below)
	SVP and Controller

3. Date of Earliest Transaction (Month/Day/Year)
09/04/2025

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	09/04/2025		S		3,208	D	$39.1816	23,066	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:

	/s/ Matthew J. Dilluvio, attorney-in-fact	09/05/2025
	** 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 insider transaction did Elizabeth Loveman (NC) report on Form 4?

She reported a sale of 3,208 Class A common shares on 09/04/2025 at a reported price of $39.1816 per share.

How many NACCO (NC) shares does Elizabeth Loveman own after the reported sale?

23,066 shares of Class A common stock are reported as beneficially owned following the transaction.

When was the Form 4 for the NC insider sale signed and by whom?

The Form 4 was signed by Matthew J. Dilluvio, attorney-in-fact, on 09/05/2025.

Did the Form 4 disclose any derivative transactions for NACCO (NC)?

No derivatives were disclosed. Table II contains no entries for options, warrants, or other derivative securities.

What was the price per share for the NACCO (NC) sale reported on 09/04/2025?

$39.1816 per share is the reported sale price for the 3,208 shares.