Business Context and Reporting Period
This Form 8-K Current Report was filed by Ramaco Resources, Inc. on June 26, 2019, covering events occurring on June 25, 2019. The filing addresses the departure and appointment of certain officers and the results of the Annual Meeting of Shareholders.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses on corporate governance and personnel changes rather than financial performance.
Material Changes
Executive Personnel Changes
- Departure: Michael P. Windisch ceased serving as Chief Accounting Officer effective July 2, 2019, due to personal relocation. He will continue as a consultant.
- Appointment: John C. Marcum was appointed Chief Accounting Officer effective July 2, 2019. Mr. Marcum previously served as the Company's Controller since January 2018.
- Compensation: Mr. Marcum's base salary is set at $275,000 per annum. He is eligible for an annual performance-based bonus targeting 50% of his base salary and long-term incentive compensation valued at 50% of his base salary.
Shareholder Voting Results
On June 25, 2019, shareholders voted on the election of directors. There were no broker non-votes. The voting results were as follows:
| Director Name | Votes For | Votes Withheld |
|---|---|---|
| Randall W. Atkins | 32,946,748 | 2,468,647 |
| Michael D. Bauersachs | 34,080,425 | 1,334,970 |
| C. Lynch Christian, III | 35,155,549 | 309,846 |
| Bruce E. Cryder | 34,062,603 | 1,352,792 |
| Patrick C. Graney, III | 33,781,771 | 1,633,624 |
| Bryan H. Lawrence | 33,799,261 | 1,616,134 |
| Tyler Reeder | 33,848,361 | 1,567,034 |
| Richard M. Whiting | 34,062,603 | 1,352,792 |
Guidance, Outlook, and Risks
The filing text does not provide a clear value for financial guidance, outlook, or specific risk factors. The document notes the execution of a standard indemnification agreement with the new Chief Accounting Officer, consistent with agreements for other directors and officers.
Investor Verification Checklist
- Verify the effective date of John C. Marcum's appointment as Chief Accounting Officer (July 2, 2019).
- Confirm the total compensation structure for Mr. Marcum, including the 50% target bonus and long-term incentive plan eligibility.
- Review the specific terms of the Long-Term Incentive Plan referenced for Mr. Marcum's equity awards.
- Confirm the total number of shares voted at the Annual Meeting based on the sum of "Votes For" and "Votes Withheld" for any director.