Form 4: Rankin Reports 707-Share Award, 36,139 Total NC Class A Shares
Rhea-AI Filing Summary
NACCO Industries insider Matthew M. Rankin reported multiple changes in beneficial ownership on Form 4. The report shows a 10/01/2025 grant of 707 Class A shares awarded as "Required Shares" under the company Non-Employee Directors' Equity Compensation Plan, increasing his reported beneficial holdings to 36,139 Class A shares held indirectly through trusts and partnerships. The filing also records a 500-share disposal and various indirect interests held by spouse, trusts for minor children, and Rankin Associates II, L.P., with multiple entries where Rankin disclaims beneficial ownership of shares owned by other parties to a 1990 Stockholders' Agreement.
Positive
- 707 Class A shares awarded to Reporting Person as required director equity compensation
- Total beneficial holdings reported at 36,139 Class A shares following the transaction
- Disclosure of complex ownership (trusts, spouse, partnership) increases transparency
Negative
- 500 Class A shares disposed (reported as a sale/disposition)
- Many shares are disclaimed under the 1990 Stockholders' Agreement, limiting direct claim to some holdings
Insights
Director received equity as compensation and maintains substantial indirect holdings via trusts and a partnership.
The Form 4 documents a routine director equity award of 707 Class A shares on 10/01/2025 and shows Rankin's complex ownership structure: indirect holdings through trusts, spousal interests, minor-child trusts, and Rankin Associates II, L.P. Several entries explicitly note disclaimers of beneficial ownership where shares are held by other signatories to a 1990 Stockholders' Agreement.
This matters because the filing clarifies that while Rankin exercises influence as a director and group member, many shares are held indirectly or disclaimed, affecting the precise measure of his direct economic control.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Class A Common Stock | 707 | $0.00 | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Footnotes (1)
- Shares of Class A Common Stock awarded to the Reporting Person as "Required Shares" under the company's Non-Employee Directors' Equity Compensation Plan. N/A Held through a trust for the benefit of Reporting Person. Held by Spouse. Reporting Person disclaims beneficial ownership of all such shares. As a member of a "group" deemed to own more than 10% of an equity security as a result of being a party to a Stockholders' Agreement, dated as of March 15, 1990, beneficially owned by each of the signatories to such agreement (the "Agreement"), the Reporting Person disclaims beneficial ownership of any such shares of Stock owned by any other signatory to the Agreement. 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. Held by Trust for Reporting Person's minor child. Reporting Person and Reporting Person's brother, James T. Rankin are co-trustees of the trust. Reporting Person disclaims beneficial ownership of all such shares. Shares represent the Reporting Person's minor child's proportionate limited interests in shares held by Rankin Associates II, L.P. Shares held by Reporting Person as co-trustee with PNC Bank. Reporting Person disclaims beneficial ownership of all such shares. Represents the Reporting Person's proportionate limited partnership interests in shares held by Rankin Associates II, L.P .
