SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Marcum John Cecil

(Last)

(First)

(Middle)

PO BOX 146

(Street)

SIDNEY

41564

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Ramaco Resources, Inc. [ METC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	CHIEF ACCOUNTING OFFICER

3. Date of Earliest Transaction (Month/Day/Year)
01/31/2024

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A common stock	01/31/2024		M⁽¹⁾		18,290	A	$0	149,375	D
Class A common stock	01/31/2024		F⁽²⁾		6,767	D	$19.11	142,608	D
Class B common stock	01/31/2024		M⁽¹⁾		3,658	A	$0	29,984	D
Class B common stock	01/31/2024		F⁽³⁾		1,353	D	$12.82	28,631	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	$0⁽⁴⁾	01/31/2024		M⁽¹⁾			18,290	⁽¹⁾	⁽¹⁾	Class A common stock	18,290	$0	40,901⁽⁵⁾	D
Restricted Stock Units	$0⁽⁶⁾	01/31/2024		M⁽¹⁾			3,658	⁽¹⁾	⁽¹⁾	Class B common stock	3,658	$0	8,180⁽⁷⁾	D

Explanation of Responses:

1. The first installment of restricted stock units granted on February 20, 2023 under the Company's Long Term Incentive Plan vested on January 31, 2024.

2. Shares forfeited upon vesting to satisfy tax obligations. The number of shares forfeited was based on the closing price of the Issuer's Class A common stock on January 30, 2024. Such shares were acquired as treasury stock by the issuer.

3. Shares forfeited upon vesting to satisfy tax obligations. The number of shares forfeited was based on the closing price of the Issuer's Class B common stock on January 30, 2024. Such shares were acquired as treasury stock by the issuer.

4. Each restricted stock unit represents a contingent right to receive one share of Class A common stock.

5. This consists of 4,321 restricted stock units remaining from the Company's February 16, 2022 grant and 36,580 restricted stock units remaining from the Company's February 20, 2023 grant.

6. Each restricted stock unit represents a contingent right to receive one share of Class B common stock.

7. This consists of 864 restricted stock units remaining from the Company's February 16, 2022 grant and 7,316 restricted stock units remaining from the Company's February 20, 2023 grant.

	/s/ Tyler Adkins, Attorney-in-Fact	02/02/2024
	** Signature of Reporting Person	Date
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