Peter A Leidel Form 4 Ramaco Resources / PETER A LEIDEL ownership change

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

LEIDEL PETER A

(Last)

(First)

(Middle)

410 PARK AVENUE

20TH FLOOR

(Street)

NEW YORK

10022

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
11/13/2023

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

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, par value $0.01 per share	11/13/2023		S		15,703⁽¹⁾	D	$18.3172⁽²⁾	5,593,737⁽¹⁾	I	See Footnote⁽¹¹⁾
Class B Common Stock, par value $0.01 per share	11/13/2023		S		977⁽¹⁾	D	$16.1114⁽³⁾	1,120,911⁽¹⁾⁽¹⁰⁾	I	See Footnote⁽¹¹⁾
Class A Common Stock, par value $0.01 per share	11/13/2023		S		10,338⁽¹⁾	D	$18.3172⁽²⁾	3,682,543⁽¹⁾	I	See Footnote⁽¹²⁾
Class B Common Stock, par value $0.01 per share	11/13/2023		S		644⁽¹⁾	D	$16.1114⁽³⁾	737,932⁽¹⁾⁽¹⁰⁾	I	See Footnote⁽¹²⁾
Class A Common Stock, par value $0.01 per share	11/13/2023		S		15,640⁽¹⁾	D	$18.3172⁽²⁾	5,571,488⁽¹⁾	I	See Footnote⁽¹³⁾
Class B Common Stock, par value $0.01 per share	11/13/2023		S		974⁽¹⁾	D	$16.1114⁽³⁾	1,116,451⁽¹⁾⁽¹⁰⁾	I	See Footnote⁽¹³⁾
Class A Common Stock, par value $0.01 per share	11/14/2023		S		56,077⁽¹⁾	D	$18.2822⁽⁴⁾	5,537,660⁽¹⁾	I	See Footnote⁽¹¹⁾
Class A Common Stock, par value $0.01 per share	11/14/2023		S		44,337⁽¹⁾	D	$19.5814⁽⁵⁾	5,493,323⁽¹⁾	I	See Footnote⁽¹¹⁾
Class B Common Stock, par value $0.01 per share	11/14/2023		S		575⁽¹⁾	D	$15.8269⁽⁶⁾	1,120,336⁽¹⁾⁽¹⁰⁾	I	See Footnote⁽¹¹⁾
Class B Common Stock, par value $0.01 per share	11/14/2023		S		1,057⁽¹⁾	D	$17.5151⁽⁷⁾	1,119,279⁽¹⁾⁽¹⁰⁾	I	See Footnote⁽¹¹⁾
Class A Common Stock, par value $0.01 per share	11/14/2023		S		36,917⁽¹⁾	D	$18.2822⁽⁴⁾	3,645,626⁽¹⁾	I	See Footnote⁽¹²⁾
Class A Common Stock, par value $0.01 per share	11/14/2023		S		29,188⁽¹⁾	D	$19.5814⁽⁵⁾	3,616,438⁽¹⁾	I	See Footnote⁽¹²⁾
Class B Common Stock, par value $0.01 per share	11/14/2023		S		378⁽¹⁾	D	$15.8269⁽⁶⁾	737,554⁽¹⁾⁽¹⁰⁾	I	See Footnote⁽¹²⁾
Class B Common Stock, par value $0.01 per share	11/14/2023		S		697⁽¹⁾	D	$17.5151⁽⁷⁾	736,857⁽¹⁾⁽¹⁰⁾	I	See Footnote⁽¹²⁾
Class A Common Stock, par value $0.01 per share	11/14/2023		S		55,854⁽¹⁾	D	$18.2822⁽⁴⁾	5,515,634⁽¹⁾	I	See Footnote⁽¹³⁾
Class A Common Stock, par value $0.01 per share	11/14/2023		S		44,160⁽¹⁾	D	$19.5814⁽⁵⁾	5,471,474⁽¹⁾	I	See Footnote⁽¹³⁾
Class B Common Stock, par value $0.01 per share	11/14/2023		S		572⁽¹⁾	D	$15.8269⁽⁶⁾	1,115,879⁽¹⁾⁽¹⁰⁾	I	See Footnote⁽¹³⁾
Class B Common Stock, par value $0.01 per share	11/14/2023		S		1,053⁽¹⁾	D	$17.5151⁽⁷⁾	1,114,826⁽¹⁾⁽¹⁰⁾	I	See Footnote⁽¹³⁾
Class A Common Stock, par value $0.01 per share	11/15/2023		S		109,490⁽¹⁾	D	$18.0544⁽⁸⁾	5,383,833⁽¹⁾	I	See Footnote⁽¹¹⁾
Class B Common Stock, par value $0.01 per share	11/15/2023		S		9,720⁽¹⁾	D	$14.1278⁽⁹⁾	1,109,559⁽¹⁾⁽¹⁰⁾	I	See Footnote⁽¹¹⁾
Class B Common Stock, par value $0.01 per share	11/15/2023		S		75⁽¹⁾	D	$15.01	1,109,484⁽¹⁾⁽¹⁰⁾	I	See Footnote⁽¹¹⁾
Class A Common Stock, par value $0.01 per share	11/15/2023		S		72,080⁽¹⁾	D	$18.0544⁽⁸⁾	3,544,358⁽¹⁾	I	See Footnote⁽¹²⁾
Class B Common Stock, par value $0.01 per share	11/15/2023		S		6,399⁽¹⁾	D	$14.1278⁽⁹⁾	730,458⁽¹⁾⁽¹⁰⁾	I	See Footnote⁽¹²⁾
Class B Common Stock, par value $0.01 per share	11/15/2023		S		50⁽¹⁾	D	$15.01	730,408⁽¹⁾⁽¹⁰⁾	I	See Footnote⁽¹²⁾
Class A Common Stock, par value $0.01 per share	11/15/2023		S		109,053⁽¹⁾	D	$18.0544⁽⁸⁾	5,362,421⁽¹⁾	I	See Footnote⁽¹³⁾
Class B Common Stock, par value $0.01 per share	11/15/2023		S		9,681⁽¹⁾	D	$14.1278⁽⁹⁾	1,105,145⁽¹⁾⁽¹⁰⁾	I	See Footnote⁽¹³⁾
Class B Common Stock, par value $0.01 per share	11/15/2023		S		75⁽¹⁾	D	$15.01	1,105,070⁽¹⁾⁽¹⁰⁾	I	See Footnote⁽¹³⁾
Class A Common Stock, par value $0.01 per share								75,830	D
Class B Common Stock, par value $0.01 per share								8,166⁽¹⁰⁾	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)

Explanation of Responses:

1. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for Section 16 or any other purpose.

2. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $18.25 to $18.56, inclusive. The reporting person undertakes to Ramaco Resources, Inc. (the "Issuer"), any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnotes (2), (3), (4), (5), (6), (7), (8) and (9).

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $16.02 to $16.38, inclusive.

4. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $18.15 to $18.89, inclusive.

5. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $19.15 to $19.93, inclusive.

6. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $15.45 to $16.21, inclusive.

7. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $17.30 to $17.72, inclusive.

8. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $17.75 to $18.41, inclusive.

9. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $14.00 to $14.85, inclusive.

10. On June 21, 2023, the Issuer 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 May 12, 2023, the record date of the Distribution. As a result, 1,121,888 shares of Class B Common Stock were issued to Yorktown Energy Partners IX, L.P. ("Yorktown IX"); 738,576 shares of Class B Common Stock were issued to Yorktown Energy Partners X, L.P. ("Yorktown X"); 1,117,425 shares of Class B Common Stock were issued to Yorktown Energy Partners XI, L.P. ("Yorktown XI"); and 8,166 shares of Class B Common Stock were issued to the reporting person.

11. These securities are owned directly by Yorktown IX. The reporting person is a member and manager of Yorktown IX Associates LLC, the general partner of Yorktown IX Company LP, the general partner of Yorktown IX.

12. These securities are owned directly by Yorktown X. The reporting person is a member and manager of Yorktown X Associates LLC, the general partner of Yorktown X Company LP, the general partner of Yorktown X.

13. These securities are owned directly by Yorktown XI. The reporting person is a member and manager of Yorktown XI Associates LLC, the general partner of Yorktown XI Company LP, the general partner of Yorktown XI.

	/s/ Peter A. Leidel	11/15/2023
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Peter A Leidel Form 4Ramaco Resources / PETER A LEIDEL ownership change