SCHEDULE: Yorktown Funds Adjust Ramaco Resources Class B Holdings
Ownership Update
Yorktown Energy Partners and affiliates updated their beneficial ownership in Ramaco Resources, Inc. Class B Common Stock, reporting recent sales after receiving payment-in-kind dividends.
Summary
- Yorktown Energy Partners IX, L.P., Yorktown IX Company LP, and Yorktown IX Associates LLC collectively beneficially own 1,233,952 shares of Ramaco Resources, Inc. Class B Common Stock, representing 11.06% of the outstanding class as of April 1, 2026.
- Yorktown Energy Partners X, L.P., Yorktown X Company LP, and Yorktown X Associates LLC collectively beneficially own 826,611 shares, representing 7.41% of the outstanding class as of March 30, 2026.
- Yorktown Energy Partners XI, L.P., Yorktown XI Company LP, and Yorktown XI Associates LLC collectively beneficially own 1,250,613 shares, representing 11.21% of the outstanding class as of March 30, 2026.
- The beneficial ownership percentages are based on 11,155,785 shares of Class B Common Stock outstanding as of February 25, 2026, as reported in Ramaco Resources' Form 10-K filed on February 26, 2026.
- The Reporting Persons received Class B Common Stock as payment-in-kind (PIK) dividends between December 2024 and March 2026, with Yorktown IX receiving 237,773 shares, Yorktown X receiving 170,918 shares, and Yorktown XI receiving 278,672 shares.
- From March 24, 2026, through March 30, 2026, the Yorktown entities collectively sold an aggregate of 52,410 shares of Class B Common Stock in open market transactions at weighted average prices ranging from $10.3381 to $11.5756 per share.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this filing as neutral. It primarily provides a factual update on beneficial ownership and recent transactions by a significant institutional investor, without indicating any material operational or strategic changes for Ramaco Resources itself. The sales, while notable, are relatively small compared to the total holdings.
Positives
- The Yorktown entities received significant payment-in-kind (PIK) dividends in Class B Common Stock, indicating a return on their investment through additional equity.
Negatives
- The Yorktown entities collectively sold 52,410 shares of Class B Common Stock in open market sales between March 24, 2026, and March 30, 2026, which could be interpreted as a reduction in their exposure or a move to realize gains.
Future Outlook
NA
Industry Context
StockSavvy.ai notes that Schedule 13D/A filings are routine disclosures for significant shareholders, particularly private equity funds like Yorktown, to update their holdings. The coal industry, in which Ramaco Resources operates, often sees such adjustments as funds manage their portfolio exposure based on market conditions and investment horizons. The receipt of payment-in-kind dividends suggests a strategy to retain cash within the company while still providing a return to shareholders, a common practice in capital-intensive industries.
Stakeholder Impact
- Shareholders: The disclosure of sales by a major institutional investor could lead to increased scrutiny of the stock's performance and future prospects. The receipt of PIK dividends indicates a preference for equity over cash distributions by the company to these investors.
Key Dates
| Date | Description |
|---|---|
| 2023-07-03 | Initial Schedule 13D filing date. |
| 2023-12-11 | Amendment No. 1 to Schedule 13D filed. |
| 2024-12-01 | Approximate date of December 2024 payment-in-kind dividend receipt by Yorktown entities. |
| 2025-03-01 | Approximate date of March 2025 payment-in-kind dividend receipt by Yorktown entities. |
| 2025-06-01 | Approximate date of June 2025 payment-in-kind dividend receipt by Yorktown entities. |
| 2025-09-01 | Approximate date of September 2025 payment-in-kind dividend receipt by Yorktown entities. |
| 2025-12-01 | Approximate date of December 2025 payment-in-kind dividend receipt by Yorktown entities. |
| 2026-02-25 | Date as of which 11,155,785 shares of Class B Common Stock were outstanding, as reported in the Issuer's Form 10-K. |
| 2026-02-26 | Date Ramaco Resources, Inc. filed its Form 10-K with the SEC. |
| 2026-03-01 | Approximate date of March 2026 payment-in-kind dividend receipt by Yorktown entities. |
| 2026-03-24 | First date of open market sales by Yorktown entities (8,103 shares at $11.5756). |
| 2026-03-25 | Open market sales by Yorktown entities (10,258 shares at $11.2376). |
| 2026-03-26 | Open market sales by Yorktown entities (6,343 shares at $10.7833). |
| 2026-03-27 | Open market sales by Yorktown entities (21,625 shares at $10.9327). |
| 2026-03-30 | Last date of open market sales by Yorktown entities (6,081 shares at $10.3381) and date of event requiring this filing for Yorktown X and XI groups. |
| 2026-04-01 | Date as of which Yorktown IX group's beneficial ownership is reported and signature date for all reporting persons. |
Keywords
Ramaco Resources, Class B Common Stock, Yorktown Energy Partners, Beneficial Ownership, Schedule 13D/A, SEC Filing, Stock Sales, Payment-in-Kind Dividends, Institutional Investor
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