<SEC-DOCUMENT>0001140361-23-053558.txt : 20231115
<SEC-HEADER>0001140361-23-053558.hdr.sgml : 20231115
<ACCEPTANCE-DATETIME>20231115214338
ACCESSION NUMBER:		0001140361-23-053558
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20231113
FILED AS OF DATE:		20231115
DATE AS OF CHANGE:		20231115

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Yorktown XI Associates LLC
		CENTRAL INDEX KEY:			0001687163
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38003
		FILM NUMBER:		231412279

	BUSINESS ADDRESS:	
		STREET 1:		410 PARK AVENUE
		STREET 2:		19TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2125152100

	MAIL ADDRESS:	
		STREET 1:		410 PARK AVENUE
		STREET 2:		19TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Ramaco Resources, Inc.
		CENTRAL INDEX KEY:			0001687187
		STANDARD INDUSTRIAL CLASSIFICATION:	BITUMINOUS COAL & LIGNITE MINING [1220]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		250 WEST MAIN STREET
		STREET 2:		SUITE 1800
		CITY:			LEXINGTON
		STATE:			KY
		ZIP:			40507
		BUSINESS PHONE:		(859) 244-7455

	MAIL ADDRESS:	
		STREET 1:		250 WEST MAIN STREET
		STREET 2:		SUITE 1800
		CITY:			LEXINGTON
		STATE:			KY
		ZIP:			40507
</SEC-HEADER>
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    <periodOfReport>2023-11-13</periodOfReport>

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        <issuerCik>0001687187</issuerCik>
        <issuerName>Ramaco Resources, Inc.</issuerName>
        <issuerTradingSymbol>METC</issuerTradingSymbol>
    </issuer>

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            <rptOwnerCik>0001687163</rptOwnerCik>
            <rptOwnerName>Yorktown XI Associates LLC</rptOwnerName>
        </reportingOwnerId>
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            <rptOwnerStreet1>410 PARK AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>20TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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                <transactionPricePerShare>
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                    <value>19.5814</value>
                    <footnoteId id="F5"/>
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        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class B Common Stock, par value $0.01 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2023-11-14</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
                    <value>572</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>15.8269</value>
                    <footnoteId id="F6"/>
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                <transactionAcquiredDisposedCode>
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                <sharesOwnedFollowingTransaction>
                    <value>1115879</value>
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            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
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            </securityTitle>
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            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
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            <transactionAmounts>
                <transactionShares>
                    <value>1053</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>17.5151</value>
                    <footnoteId id="F7"/>
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                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F11"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Common Stock, par value $0.01 per share</value>
            </securityTitle>
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            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
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                    <footnoteId id="F8"/>
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                    <footnoteId id="F9"/>
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            </ownershipNature>
        </nonDerivativeTransaction>
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            <securityTitle>
                <value>Class B Common Stock, par value $0.01 per share</value>
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                <transactionCode>S</transactionCode>
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                <transactionShares>
                    <value>75</value>
                    <footnoteId id="F1"/>
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                    <value>15.01</value>
                </transactionPricePerShare>
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                    <value>D</value>
                </transactionAcquiredDisposedCode>
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                <sharesOwnedFollowingTransaction>
                    <value>1105070</value>
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                <directOrIndirectOwnership>
                    <value>I</value>
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                <natureOfOwnership>
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        </nonDerivativeTransaction>
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    <footnotes>
        <footnote id="F1">The reporting person disclaims beneficial ownership of these securities except to the extent of its 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.</footnote>
        <footnote id="F2">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 &quot;Issuer&quot;), 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).</footnote>
        <footnote id="F3">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.</footnote>
        <footnote id="F4">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.</footnote>
        <footnote id="F5">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.</footnote>
        <footnote id="F6">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.</footnote>
        <footnote id="F7">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.</footnote>
        <footnote id="F8">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.</footnote>
        <footnote id="F9">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.</footnote>
        <footnote id="F10">On June 21, 2023, the Issuer issued and distributed via dividend to holders of existing common stock (the &quot;Distribution&quot;) 0.2 shares of Class B Common Stock, $0.01 par value (&quot;Class B Common Stock&quot;), per share of existing common stock held by each holder as of May 12, 2023, the record date of the Distribution. As a result, 1,117,425 shares of Class B Common Stock were issued to Yorktown Energy Partners XI, L.P. (&quot;Yorktown XI&quot;).</footnote>
        <footnote id="F11">These securities are owned directly by Yorktown XI. The reporting person is the general partner of Yorktown XI Company LP, the general partner of Yorktown XI.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Yorktown XI Associates LLC /s/ Bryan H Lawrence, Manager</signatureName>
        <signatureDate>2023-11-15</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</SEC-DOCUMENT>
