Form 4: Ramaco CFO's Equity Vesting & Tax Transactions

Ramaco Resources CFO Jeremy R. Sussman reported significant equity vesting and related tax-driven share dispositions on January 30, 2026, following strong performance target achievement.

Summary

• Jeremy R. Sussman, Chief Financial Officer of Ramaco Resources, Inc. (METC), reported multiple equity transactions on January 30, 2026.
• Performance Stock Units (PSUs) granted on February 20, 2023, vested due to the Compensation Committee certifying 200% achievement of pre-established performance targets for the period January 1, 2023, to December 31, 2025.
• This vesting resulted in 65,631 shares of Class A common stock and 13,126 shares of Class B common stock.
• Various tranches of Restricted Stock Units (RSUs) also vested on January 30, 2026, including the third and final installment from a February 20, 2023 grant, the second installment from a February 29, 2024 grant, and the first installment from a February 24, 2025 grant.
• Shares were surrendered to satisfy tax obligations upon vesting: 56,246 Class A shares and 23,567 Class A shares at a closing price of $19.97 per share, and 11,249 Class B shares, 1,875 Class B shares, and 2,323 Class B shares at a closing price of $12.43 per share.
• Mr. Sussman also received a total of 11,113 shares of Class B common stock from four common stock dividends declared between December 2024 and November 2025 and paid between March 2025 and December 2025.
• Following these transactions, Mr. Sussman beneficially owns 463,278 shares of Class A common stock and 108,660 shares of Class B common stock directly.
• Remaining derivative securities beneficially owned include 65,631 Performance Stock Units for Class A common stock, 13,126 Performance Stock Units for Class B common stock, 11,123 Restricted Stock Units for Class A common stock (from 2024 grant), and 43,998 Restricted Stock Units for Class A common stock (from 2025 grant).

Sentiment

Score: 8

Explanation: StockSavvy.ai views this filing positively, primarily due to the 200% achievement of performance targets for executive compensation, which signals robust company performance and effective incentive alignment, despite routine tax-related share dispositions.

Positives

• The Company's Compensation Committee certified the achievement of pre-established performance targets at 200% for the performance period ending December 31, 2025, indicating strong operational or financial performance.
• Significant equity awards (Performance Stock Units and Restricted Stock Units) vested for the Chief Financial Officer, aligning management's interests with shareholder value creation.

Negatives

• A substantial number of shares were surrendered to satisfy tax obligations upon vesting, reducing the direct beneficial ownership of the reporting person.

Future Outlook

One annual installment remains from the restricted stock granted on February 29, 2024. Two annual installments remain from the restricted stock units granted on February 24, 2025.

Management Comments

• The Company's Compensation Committee of the Board of Directors certified the achievement of pre-established performance targets at 200% for the performance period beginning on January 1, 2023, and ending on December 31, 2025.

Industry Context

StockSavvy.ai notes that this Form 4 filing primarily details executive compensation events, reflecting the company's internal performance against set targets. The 200% achievement of performance targets for PSUs suggests strong operational execution within Ramaco Resources, which could be a positive indicator for its competitive standing in the coal mining industry, though this filing does not provide direct industry comparisons.

Corporate Governance

Stakeholder Impact

• Shareholders: The vesting of performance-based equity awards at 200% of targets suggests strong company performance, which could be viewed positively as management's incentives are aligned with shareholder value creation. However, tax-related share sales by an insider might be noted.
• Employees: The successful achievement of performance targets could foster a positive internal environment, potentially impacting morale and future incentive programs.

Next Steps

• Future annual installments of restricted stock units from grants made on February 29, 2024, and February 24, 2025, are expected to vest in subsequent periods.

Key Dates

Recommendation

This Form 4 filing details routine executive compensation vesting and associated tax-driven share sales, which are not typically indicative of a fundamental shift in the company's outlook or valuation. While the 200% performance target achievement is positive, it's a backward-looking metric for compensation and does not, on its own, warrant a change in investment recommendation. A seasoned investor would likely maintain their current position, awaiting more comprehensive financial reports for a re-evaluation.

Keywords

Ramaco Resources, METC, SEC Form 4, Insider Trading, Equity Vesting, Performance Stock Units, Restricted Stock Units, CFO, Executive Compensation, Stock Dividends