Fannin Jason Todd 4

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.