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).

1. Name and Address of Reporting Person^*

Blanchard Christopher L

(Last)

(First)

(Middle)

250 WEST MAIN STREET

SUITE 1900

(Street)

LEXINGTON

40507

(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 OPERATING OFFICER

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2023

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

Rule 10b5-1(c) Transaction Indication

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

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)
Common Stock	06/21/2023⁽¹⁾		D	V	518,291	D	$0	0	D
Class A common stock	06/21/2023⁽¹⁾		A	V	518,291	A	$0	518,291	D
Class B common stock	06/21/2023⁽²⁾		A	V	103,658	A	$0	103,658	D
Class A common stock	06/30/2023		F⁽³⁾		85,429	D	$8.44	432,862	D
Class B common stock	06/30/2023		F⁽⁴⁾		16,509	D	$10.61	87,149	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⁽¹⁾⁽⁵⁾	06/21/2023		D⁽¹⁾⁽⁵⁾	V		28,889	⁽⁶⁾	⁽⁶⁾	Common Stock	28,889	$0⁽¹⁾⁽⁵⁾	0	D
Restricted Stock Units	$0⁽¹⁾⁽⁵⁾	06/21/2023		D⁽¹⁾⁽⁵⁾	V		65,631	⁽⁷⁾	⁽⁷⁾	Common Stock	65,631	$0⁽¹⁾⁽⁵⁾	0	D
Restricted Stock Units	$0⁽¹⁾⁽⁵⁾	06/21/2023		A⁽¹⁾⁽⁵⁾	V	28,889		⁽⁶⁾	⁽⁶⁾	Class A common stock	28,889	$0⁽¹⁾⁽⁵⁾	28,889	D
Restricted Stock Units	$0⁽¹⁾⁽⁵⁾	06/21/2023		A⁽¹⁾⁽⁵⁾	V	65,631		⁽⁷⁾	⁽⁷⁾	Class A common stock	65,631	$0⁽¹⁾⁽⁵⁾	94,520	D
Restricted Stock Units	$0⁽²⁾⁽⁸⁾	06/21/2023		A⁽²⁾⁽⁸⁾	V	5,777		⁽⁶⁾	⁽⁶⁾	Class B common stock	5,777	$0⁽²⁾⁽⁸⁾	5,777	D
Restricted Stock Units	$0⁽²⁾⁽⁸⁾	06/21/2023		A⁽²⁾⁽⁸⁾	V	13,126		⁽⁷⁾	⁽⁷⁾	Class B common stock	13,126	$0⁽²⁾⁽⁸⁾	18,903	D
Performance Stock Units	$0⁽¹⁾⁽⁹⁾	06/21/2023		D⁽¹⁾⁽⁹⁾	V		43,334	⁽¹⁰⁾	12/31/2024	Common Stock	43,334	$0⁽¹⁾⁽⁹⁾	0	D
Performance Stock Units	$0⁽¹⁾⁽⁹⁾	06/21/2023		D⁽¹⁾⁽⁹⁾	V		65,631	⁽¹⁰⁾	12/31/2025	Common Stock	65,631	$0⁽¹⁾⁽⁹⁾	0	D
Performance Stock Units	$0⁽¹⁾⁽⁹⁾	06/21/2023		A⁽¹⁾⁽⁹⁾	V	43,334		⁽¹⁰⁾	12/31/2024	Class A common stock	43,334	$0⁽¹⁾⁽⁹⁾	43,334	D
Performance Stock Units	$0⁽¹⁾⁽⁹⁾	06/21/2023		A⁽¹⁾⁽⁹⁾	V	65,631		⁽¹⁰⁾	12/31/2025	Class A common stock	65,631	$0⁽¹⁾⁽⁹⁾	108,965	D
Performance Stock Units	$0⁽²⁾⁽¹¹⁾	06/21/2023		A⁽²⁾⁽¹¹⁾	V	8,666		⁽¹⁰⁾	12/31/2024	Class B common stock	8,666	$0⁽²⁾⁽¹¹⁾	8,666	D
Performance Stock Units	$0⁽²⁾⁽¹¹⁾	06/21/2023		A⁽²⁾⁽¹¹⁾	V	13,126		⁽¹⁰⁾	12/31/2025	Class B common stock	13,126	$0⁽²⁾⁽¹¹⁾	21,792	D

Explanation of Responses:

1. On June 21, 2023, Ramaco Resources, Inc. (the "Company") reclassified its existing common stock, par value $0.01 per share, as shares of Class A common stock, par value $0.01 per share.

2. On June 21, 2023, the Company issued and distributed via dividend to holders of existing common stock (the "Distribution") 0.2 shares of Class B common stock, $0.01 par value ("Class B common stock"), per share of existing common stock held by each holder as of the record date for the Distribution.

3. Shares sold upon vesting to satisfy tax obligations. The number of shares withheld was based on the closing price of the Issuer's Class A common stock on June 30, 2023. Such shares were acquired as treasury stock by the issuer.

4. Shares sold upon vesting to satisfy tax obligations. The number of shares withheld was based on the closing price of the Issuer's Class B common stock on June 30, 2023. Such shares were acquired as treasury stock by the issuer.

5. Each holder of an outstanding restricted stock unit ("RSU") with respect to a share of existing common stock received, in connection with the reclassification and Distribution, a new RSU, which represents a right, upon satisfaction of continued service conditions, to receive one share of Class A common stock.

6. The RSUs vest in two equal annual installments beginning December 31, 2023.

7. The RSUs vest in three equal annual installments beginning on January 31, 2024.

8. Represents dividend equivalent rights in connection with the Distribution that accrue to the reporting person in restricted stock units that vest at the same time(s) as the underlying restricted stock units.

9. Each holder of an outstanding performance stock unit ("PSU") with respect to a share of existing common stock received, in connection with the reclassification and Distribution, a new PSU, which represents a right, upon satisfaction of continued service conditions, to receive one share of Class A common stock.

10. The PSUs vest upon the Company's Class A common stock achieving a specific total shareholder return for a measurement period.

11. Represents dividend equivalent rights in connection with the Distribution that accrue to the reporting person in performance stock units that vest at the same time(s) as the underlying performance stock units.

	/s/ Barkley J. Sturgill, Jr., Attorney-in-Fact	07/05/2023
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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