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Ramaco Resources, Inc.·4

Mar 2, 4:05 PM ET

Atkins Randall Whittaker 4

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Ramaco (METC) CEO Atkins Whittaker Exercises Options, Sells Shares

What Happened

  • Atkins Whittaker, CEO of Ramaco Resources (METC), exercised stock options on February 26, 2026 that converted into 448,712 Class A shares and 89,742 Class B shares (total 538,454 shares). He paid $5.34 per Class A share on the exercised Class A options (cash paid ≈ $2,396,122).
  • To satisfy tax and exercise obligations, 271,525 Class A shares (valued at $14.93 each, ≈ $4,053,868) and 35,313 Class B shares (valued at $12.81 each, ≈ $452,360) were surrendered (withheld). Net retained from this transaction: approximately 177,187 Class A shares and 54,429 Class B shares.

Key Details

  • Transaction date: February 26, 2026; Form 4 filed March 2, 2026 (timely).
  • Prices and values reported:
    • Exercised: 448,712 Class A @ $5.34 (cash paid ≈ $2,396,122) and 89,742 Class B @ $0.00.
    • Tax/price-withholding: 271,525 Class A surrendered @ $14.93 (≈ $4,053,868) and 35,313 Class B surrendered @ $12.81 (≈ $452,360).
  • Shares owned after transaction: filing does not give a total consolidated holding balance; based on this transaction the CEO retained about 177,187 Class A and 54,429 Class B shares from the exercise.
  • Footnotes of note:
    • The Class B shares resulted from a prior company distribution (0.2 Class B per share) that changed the option payout (see F2/F5).
    • Surrenders were to satisfy tax/exercise obligations (cashless/share-withholding) and were calculated using closing prices on Feb 26, 2026 (F1, F3).
    • The filing notes some shares are held by the reporting person’s daughter (household) and the CEO disclaims beneficial ownership of those shares (F4).
  • Transaction codes: M = option exercise; F = tax/withholding disposition.

Context

  • This was an option exercise with shares withheld to cover taxes — a common cashless exercise method and not an open-market sale expressing a market view.
  • The transaction converted options into both Class A and Class B shares because of a prior dividend/distribution; one tranche showed $0 acquisition price for Class B reflecting that conversion.
  • No evidence in the filing of a 10b5-1 plan or gifts; the surrendering of shares was explicitly for tax/exercise settlement.