Fannin Jason Todd 4
4 · Ramaco Resources, Inc. · Filed Feb 2, 2026
Research Summary
AI-generated summary of this filing
Ramaco (METC) CCO Jason Fannin Exercises Awards; Shares Withheld
What Happened
- Jason Todd Fannin, Chief Commercial Officer of Ramaco Resources (METC), had performance stock units (PSUs) and restricted stock units (RSUs vest) on Jan 30, 2026. The filing shows ~297,019 shares acquired from conversion/exercise/grant and ~86,376 shares surrendered to satisfy tax withholding obligations (total withholding value ≈ $1,619,625). Net new shares added to his position were about 210,643.
- The large PSU vesting reflected Committee certification that performance targets were met at 200% for the 2023–2025 performance period, producing additional PSUs: 64,593 Class A and 12,918 Class B (see Footnote 1).
Key Details
- Transaction date: January 30, 2026; Form 4 filed February 2, 2026 (reporting period Jan 30, 2026).
- Major codes: M = exercise/conversion of derivative awards; A = grant/award; F = shares withheld to pay tax obligations.
- Shares acquired (from reported exercises/grants): ~297,019 total (includes vested PSUs/RSUs and related dividend-equivalent units).
- Shares surrendered for tax withholding: 86,376 shares, valued at approximately $1,619,625 (sum of the reported F transactions).
- Net change to Fannin’s holdings from these transactions: about +210,643 shares (297,019 acquired − 86,376 withheld).
- Footnotes of note:
- Footnote 1: PSUs granted Feb 20, 2023 vested at 200% after Committee certification.
- Footnotes 2 & 15: Number of shares surrendered was based on closing prices on Jan 29, 2026 (Class A/Class B as applicable).
- Footnote 6: Includes 5,031 Class B shares received from prior stock dividends.
- Filing timeliness: No late-filing flag provided in the supplied data.
Context
- This was primarily a vesting/conversion event (awards converting into stock) rather than an open-market buy or sale. The F-coded disposals are share-withholdings to cover tax liabilities (a cashless withholding), not market sales for personal liquidity.
- The event reflects compensation realization following strong performance certification (200% payout on the covered PSU tranche). Such vesting is routine compensation for executives and does not by itself indicate a buy or sell signal.
Insider Transaction Report
Form 4
Fannin Jason Todd
CHIEF COMMERCIAL OFFICER
Transactions
- Exercise/Conversion
Class A common stock
[F1][F8]2026-01-30+129,186→ 291,442 total - Tax Payment
Class A common stock
[F2]2026-01-30$19.97/sh−50,835$1,015,175→ 240,607 total - Exercise/Conversion
Class A common stock
[F3][F4][F5]2026-01-30+54,830→ 295,437 total - Tax Payment
Class A common stock
[F2]2026-01-30$19.97/sh−21,575$430,853→ 273,862 total - Exercise/Conversion
Class B common stock
[F1][F10][F6]2026-01-30+25,837→ 65,075 total - Tax Payment
Class B common stock
[F15]2026-01-30$12.43/sh−10,167$126,376→ 54,908 total - Exercise/Conversion
Class B common stock
[F3]2026-01-30+4,306→ 59,214 total - Tax Payment
Class B common stock
[F15]2026-01-30$12.43/sh−1,694$21,056→ 57,520 total - Exercise/Conversion
Class B common stock
[F13]2026-01-30+5,349→ 62,869 total - Tax Payment
Class B common stock
[F15]2026-01-30$12.43/sh−2,105$26,165→ 60,764 total - Exercise/Conversion
Performance Stock Units
[F7][F1]2026-01-30−64,593→ 0 total→ Class A common stock (64,593 underlying) - Award
Performance Stock Units
[F7][F1][F8]2026-01-30+64,593→ 64,593 total→ Class A common stock (64,593 underlying) - Exercise/Conversion
Performance Stock Units
[F7][F1][F8]2026-01-30−64,593→ 0 total→ Class A common stock (64,593 underlying) - Exercise/Conversion
Performance Stock Units
[F9][F1]2026-01-30−12,919→ 0 total→ Class B common stock (12,919 underlying) - Award
Performance Stock Units
[F9][F1][F10]2026-01-30+12,918→ 12,918 total→ Class B common stock (12,918 underlying) - Exercise/Conversion
Performance Stock Units
[F9][F1][F10]2026-01-30−12,918→ 0 total→ Class B common stock (12,918 underlying) - Exercise/Conversion
Restricted Stock Units
[F11][F3]2026-01-30−21,531→ 0 total→ Class A common stock (21,531 underlying) - Exercise/Conversion
Restricted Stock Units
[F11][F4]2026-01-30−11,299→ 11,299 total→ Class A common stock (11,299 underlying) - Exercise/Conversion
Restricted Stock Units
[F11][F5]2026-01-30−22,000→ 43,998 total→ Class A common stock (22,000 underlying) - Exercise/Conversion
Restricted Stock Units
[F12][F3]2026-01-30−4,306→ 0 total→ Class B common stock (4,306 underlying) - Exercise/Conversion
Dividend Equivalent Units
[F13][F14]2026-01-30−5,349→ 0 total→ Class B common stock (5,349 underlying)
Footnotes (15)
- [F1]The performance stock units granted on February 20, 2023 under the Ramaco Resources, Inc.'s (the "Company") Long Term Incentive Plan vested on January 30, 2026 upon certification of performance by the Company's Compensation Committee of the Board of Directors (the "Committee"). The Committee 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. As a result of the Committee Certification, the vesting of additional performance stock units for 64,593 shares of Class A and 12,918 shares of Class B stock was approved.
- [F10]Amount includes 12,918 Performance Stock Units for Class B common stock that vested because more than 100% of the pre-established performance targets were achieved during the performance period. Please see Footnote 1.
- [F11]Each restricted stock unit represents a contingent right to receive one share of Class A common stock.
- [F12]Each restricted stock unit represents a contingent right to receive one share of Class B common stock.
- [F13]Dividend equivalent units underlying the three tranches of restricted stock units and the tranche of performance stock units listed above with respect to Class A common stock and with respect to Class B common stock. See footnotes 1, 3, 4 and 5 for further detail.
- [F14]See Footnote 6 for further detail regarding the stock dividends.
- [F15]Shares surrendered upon vesting to satisfy tax obligations. The number of shares surrendered was based on the closing price of the Issuer's Class B common stock on January 29, 2026.
- [F2]Shares surrendered upon vesting to satisfy tax obligations. The number of shares surrendered was based on the closing price of the Issuer's Class A common stock on January 29, 2026.
- [F3]The third and final installment of restricted stock units granted on February 20, 2023 under the Company's Long Term Incentive Plan vested on January 30, 2026.
- [F4]The second installment of restricted stock granted on February 29, 2024 under the Company's Long Term Incentive Plan vested on January 30, 2026. One annual installment remains from this grant.
- [F5]The first installment of restricted stock units granted on February 24, 2025 under the Company's Long Term Incentive Plan vested on January 30, 2026. Two annual installments remain from this grant.
- [F6]As a result of the four common stock dividends paid in Class B common stock 1) declared on December 5, 2024 and paid on March 14, 2025, 2) declared on March 17, 2025 and paid on June 13, 2025, 3) declared on August 22, 2025 and paid on September 19, 2025, and 4) declared on November 14, 2025 and paid on December 5, 2025 the reporting person received a total of 5,031 shares of Class B common Stock, which are included in the reported amount.
- [F7]Each performance stock unit represents a contingent right to receive one share of Class A common stock.
- [F8]Amount includes 64,593 Performance Stock Units for Class A common stock that vested because more than 100% of the pre-established performance targets were achieved during the performance period. See Footnote 1.
- [F9]Each performance stock unit represents a contingent right to receive one share of Class B common stock.
Signature
/s/ Jonathan T Adkins, Attorney in Fact|2026-02-02