Marcum John Cecil 4
4 · Ramaco Resources, Inc. · Filed Feb 2, 2026
Research Summary
AI-generated summary of this filing
Ramaco (METC) EVP John Marcum Receives Awards, Surrenders Shares
What Happened
- John Cecil Marcum, EVP for Production at Ramaco Resources (METC), had multiple performance stock units (PSUs) and restricted stock units (RSUs) vest on January 30, 2026. The filing shows conversions/grants totaling 249,001 shares (various tranches of PSUs/RSUs, including 54,870 Class A and 10,974 Class B PSUs approved at 200% payout).
- To satisfy tax withholding on the vesting, he surrendered 78,477 shares (payment of tax liability), generating proceeds of approximately $1,470,041. Major withholdings included 47,020 shares @ $19.97 ($938,989) and 18,573 shares @ $19.97 ($370,903), plus smaller withholdings at $12.43 per share.
- These transactions are vesting/settlement events (codes A and M for awards/conversions) with share-withholding for taxes (code F), not open-market purchases or discretionary sales.
Key Details
- Transaction date: January 30, 2026. Form 4 filed February 2, 2026 (timely filing).
- Shares received/converted: ~249,001 total across multiple PSUs/RSUs (including performance payout at 200% for the 2023–2025 performance period).
- Shares surrendered for taxes: 78,477 shares, total cash value ≈ $1,470,041 (various per-share prices; withholding based on closing prices on Jan 29, 2026).
- Notable footnotes: Committee certified >100% achievement of performance targets (Footnote 1); share surrenders were to satisfy tax obligations and based on closing prices (Footnotes 2 & 15); dividend-equivalent shares (4,318) included in Class B totals (Footnote 6 & 13).
- Transaction codes: M = conversion/exercise of derivative (vesting/settlement), A = grant/award, F = shares surrendered to pay tax liability.
- Shares owned after the transaction are not specified in the summary data provided.
Context
- This was primarily a vesting/settlement event (PSUs/RSUs) rather than a buy or a discretionary sale. Conversions/exercises recorded at $0 indicate settlement of equity awards, not a cash purchase. The surrender of shares to pay taxes is routine for vested awards and does not necessarily indicate a view on the company’s stock price.
Insider Transaction Report
Form 4
Marcum John Cecil
EVP for Production
Transactions
- Exercise/Conversion
Class A common stock
[F1][F8]2026-01-30+109,740→ 248,891 total - Tax Payment
Class A common stock
[F2]2026-01-30$19.97/sh−47,020$938,989→ 201,871 total - Exercise/Conversion
Class A common stock
[F3][F4][F5]2026-01-30+43,346→ 245,217 total - Tax Payment
Class A common stock
[F2]2026-01-30$19.97/sh−18,573$370,903→ 226,644 total - Exercise/Conversion
Class B common stock
[F1][F10][F6]2026-01-30+21,948→ 55,721 total - Tax Payment
Class B common stock
[F15]2026-01-30$12.43/sh−9,404$116,892→ 46,317 total - Exercise/Conversion
Class B common stock
[F3]2026-01-30+3,658→ 49,975 total - Tax Payment
Class B common stock
[F15]2026-01-30$12.43/sh−1,567$19,478→ 48,408 total - Exercise/Conversion
Class B common stock
[F13]2026-01-30+4,465→ 52,873 total - Tax Payment
Class B common stock
[F15]2026-01-30$12.43/sh−1,913$23,779→ 50,960 total - Exercise/Conversion
Performance Stock Units
[F7][F1]2026-01-30−54,870→ 0 total→ Class A common stock (54,870 underlying) - Award
Performance Stock Units
[F7][F1][F8]2026-01-30+54,870→ 54,870 total→ Class A common stock (54,870 underlying) - Exercise/Conversion
Performance Stock Units
[F7][F1][F8]2026-01-30−54,870→ 0 total→ Class A common stock (54,870 underlying) - Exercise/Conversion
Performance Stock Units
[F9][F1]2026-01-30−10,974→ 0 total→ Class B common stock (10,974 underlying) - Award
Performance Stock Units
[F9][F1][F10]2026-01-30+10,974→ 10,974 total→ Class B common stock (10,974 underlying) - Exercise/Conversion
Performance Stock Units
[F9][F1][F10]2026-01-30−10,974→ 0 total→ Class B common stock (10,974 underlying) - Exercise/Conversion
Restricted Stock Units
[F11][F3]2026-01-30−18,290→ 0 total→ Class A common stock (18,290 underlying) - Exercise/Conversion
Restricted Stock Units
[F11][F4]2026-01-30−9,216→ 9,216 total→ Class A common stock (9,216 underlying) - Exercise/Conversion
Restricted Stock Units
[F11][F5]2026-01-30−15,840→ 31,678 total→ Class A common stock (15,840 underlying) - Exercise/Conversion
Restricted Stock Units
[F12][F3]2026-01-30−3,658→ 0 total→ Class B common stock (3,658 underlying) - Exercise/Conversion
Dividend Equivalent Units
[F13][F14]2026-01-30−4,465→ 0 total→ Class B common stock (4,465 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 54,870 shares of Class A and 10,974 shares of Class B stock was approved.
- [F10]Amount includes 10,974 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 4,318 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 54,870 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