Jones Estill Forrest Jr. 4

What Happened

• Jones Estill Forrest Jr., General Counsel of Ramaco Resources (METC), converted restricted stock units (RSUs) into common shares and surrendered a portion of shares to satisfy tax withholding. The filing shows conversion/acquisition of 3,176 shares (3,100 + 76) and the surrender/disposition of 4,347 shares (3,342 + 981 + 24) to cover taxes, with reported values for the surrendered shares totaling $86,629 (three line-item amounts: $66,740; $19,591; $298).

Key Details

• Transaction dates: primarily January 30, 2026 (vesting/conversion entries also reference January 31, 2026 for a separate grant vesting).
• Prices/values reported for surrendered shares: 3,342 @ $19.97 = $66,740; 981 @ $19.97 = $19,591; 24 @ $12.43 = $298. Exercise/conversion entries show $0 cash paid (typical for RSU conversion).
• Shares acquired via conversion: 3,176 total (3,100 + 76). Shares surrendered to cover tax obligations: 4,347 total.
• Footnotes: multiple RSU grants vested (Feb 24, 2025 grant vested Jan 31, 2026; first installment of a May 1, 2025 grant vested Jan 30, 2026). Surrenders reflect shares withheld to satisfy tax obligations, with withholding amounts based on the closing prices on Jan 29, 2026 (footnotes F1–F3, F6). Dividend-equivalent units and Class B dividend issuances are also noted (F4–F5, F7).
• Filing: Form 4 filed Feb 2, 2026 reporting the Jan 30–31, 2026 transactions. No late-filing indicator provided in the excerpt.

Context

• These transactions are not an open-market sale for investment purposes but appear to be routine: RSUs vested and were converted to shares, and a portion of shares were surrendered/withheld to cover tax liabilities (a common, cashless-withholding action).
• For retail investors, such tax-withholding surrenders reduce the insider’s net holdings but are generally clerical/routine following vesting rather than a direct bearish signal.