Form 4: Ramaco Resources Executive Fannin Acquires and Disposes of Shares Following PSU Vesting
SEC Form 4 Filing
Jason Todd Fannin, Chief Commercial Officer of Ramaco Resources, reports acquisition and disposal of Class A and Class B common stock related to the vesting of performance stock units (PSUs) and satisfaction of tax obligations.
Summary
- On January 23, 2025, Jason Todd Fannin, Chief Commercial Officer of Ramaco Resources, engaged in transactions involving the company's Class A and Class B common stock.
- These transactions stemmed from the vesting of performance stock units (PSUs) granted on February 16, 2022, under the company's Long Term Incentive Plan.
- The vesting was contingent upon the achievement of pre-established performance targets, which the Compensation Committee certified at 93.3% for the period from January 1, 2022, to December 31, 2024.
- Fannin acquired 34,556 shares of Class A common stock and 6,911 shares of Class B common stock upon vesting of the PSUs.
- He also acquired 641 shares of Class B common stock as a result of dividend equivalent units.
- Simultaneously, Fannin disposed of 14,265 shares of Class A common stock at $9.71 and 2,853 shares of Class B common stock at $9.15, and 252 shares of Class B common stock at $9.21 to cover tax obligations.
- Following these transactions, Fannin directly owns 142,344 shares of Class A common stock and 31,259 shares of Class B common stock.
Sentiment
Score: 6
Explanation: The document is a standard regulatory filing detailing insider transactions. The sentiment is neutral, reflecting the routine nature of the disclosure, with a slight positive leaning due to the vesting of PSUs indicating some level of performance achievement.
Positives
- The vesting of performance stock units indicates that the company achieved a significant portion (93.3%) of its pre-established performance targets.
Negatives
- 2,481 Class A Performance Stock Units and 496 Class B Performance Stock Units did not vest and were cancelled because less than 100% of the pre-established performance targets were achieved during the performance period.
Industry Context
Form 4 filings are a routine part of the regulatory landscape for publicly traded companies, providing transparency into the transactions of company insiders.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership of shares.
- The vesting of PSUs could positively impact employees as it signifies the achievement of performance targets.
Key Dates
| Date | Description |
|---|---|
| February 16, 2022 | Date the performance stock units were granted under the Ramaco Resources, Inc.'s Long Term Incentive Plan. |
| January 1, 2022 December 31, 2024 | Performance period for the performance stock units. |
| November 20, 2024 | Date the Issuer declared stock dividends of $0.1375 per share of Class A common stock and $0.2364 per share of Class B common stock. |
| December 2, 2024 | Shareholders of record date for the December Dividend. |
| December 16, 2024 | Date of the December Dividend, payable in shares of the Issuer's Class B common stock. |
| January 22, 2025 | Date used to determine the closing price of the Issuer's Class A and Class B common stock for shares surrendered upon vesting to satisfy tax obligations. |
| January 23, 2025 | Date of the reported transactions: vesting of performance stock units, acquisition and disposal of shares, and settlement of tax obligations. |
| January 27, 2025 | Date of the signature of the report. |
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