Ramaco Resources, Inc. — Director's Dealing 2023

Jul 5, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Ramaco Resources, Inc. (METC)
CIK: 0001687187
Period of Report: 2023-06-30

Reporting Person: Sturgill Barkley Jennings (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-06-21	Class B common stock	A	36728	—	Acquired	36728	Direct
2023-06-21	Common Stock	D	183640	—	Disposed	0	Direct
2023-06-21	Class A common stock	A	183640	—	Acquired	183640	Direct
2023-06-30	Class A common stock	F	37637	$8.44	Disposed	146003	Direct
2023-06-30	Class B common stock	F	7273	$10.61	Disposed	29455	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-06-21	Restricted Stock Units	$0	D	14416	Disposed		Common Stock (14416)	Direct
2023-06-21	Restricted Stock Units	$0	D	7407	Disposed		Common Stock (7407)	Direct
2023-06-21	Restricted Stock Units	$0	A	7407	Acquired		Class A common stock (7407)	Direct
2023-06-21	Restricted Stock Units	$0	A	14416	Acquired		Class A common stock (14416)	Direct
2023-06-21	Restricted Stock Units	$0	A	2883	Acquired		Class B common stock (2883)	Direct
2023-06-21	Restricted Stock Units	$0	A	1481	Acquired		Class B common stock (1481)	Direct
2023-06-21	Performance Stock Units	$0	D	11111	Disposed	2024-12-31	Common Stock (11111)	Direct
2023-06-21	Performance Stock Units	$0	D	14416	Disposed	2025-12-31	Common Stock (14416)	Direct
2023-06-21	Performance Stock Units	$0	A	11111	Acquired	2024-12-31	Class A common stock (11111)	Direct
2023-06-21	Performance Stock Units	$0	A	14416	Acquired	2025-12-31	Class A common stock (14416)	Direct
2023-06-21	Performance Stock Units	$0	A	2222	Acquired	2024-12-31	Class B common stock (2222)	Direct
2023-06-21	Performance Stock Units	$0	A	2883	Acquired	2025-12-31	Class B common stock (2883)	Direct

Footnotes

F1: On June 21, 2023, Ramaco Resources, Inc. (the "Company"), issued and distributed via dividend to holders of existing common stock (the "Distribution") 0.2 shares of Class B common stock, $0.01 par value ("Class B common stock"), per share of existing common stock held by each holder as of the record date for the Distribution.

F2: On June 21, 2023, the Company reclassified its existing common stock, par value $0.01 per share, as shares of Class A common stock, par value $0.01 per share.

F3: On June 21, 2023, the Company reclassified its existing common stock, par value $0.01 per share, as shares of Class A common stock, par value $0.01 per share.

F4: Shares sold upon vesting to satisfy tax obligations. The number of shares withheld was based on the closing price of the Issuer's Class A common stock on June 30, 2023. Such shares were acquired as treasury stock by the issuer.

F5: Shares sold upon vesting to satisfy tax obligations. The number of shares withheld was based on the closing price of the Issuer's Class B common stock on June 30, 2023. Such shares were acquired as treasury stock by the issuer.

F6: Each holder of an outstanding restricted stock unit ("RSU") with respect to a share of existing common stock received, in connection with the reclassification and Distribution, a new RSU, which represents a right, upon satisfaction of continued service conditions, to receive one share of Class A common stock.

F7: The RSUs vest in three equal annual installments beginning on January 31, 2024.

F8: The RSUs vest in two equal annual installments beginning December 31, 2023.

F9: Represents dividend equivalent rights in connection with the Distribution that accrue to the reporting person in restricted stock units that vest at the same time(s) as the underlying restricted stock units.

F10: Each holder of an outstanding performance stock unit ("PSU") with respect to a share of existing common stock received, in connection with the reclassification and Distribution, a new PSU, which represents a right, upon satisfaction of continued service conditions, to receive one share of Class A common stock.

F11: The PSUs vest upon the Company's Class A common stock achieving a specific total shareholder return for a measurement period.

F12: Represents dividend equivalent rights in connection with the Distribution that accrue to the reporting person in performance stock units that vest at the same time(s) as the underlying performance stock units.