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Ramaco Resources, Inc.·4

Feb 2, 4:10 PM ET

Marcum John Cecil 4

Research Summary

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Updated

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.