Business Context and Reporting Period
This Form 8-K Current Report was filed by Ramaco Resources, Inc. on December 10, 2019. The filing addresses corporate governance and executive compensation matters rather than periodic financial results.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on the amendment of restricted stock award agreements.
Material Changes
On December 10, 2019, the Board of Directors approved amendments to Restricted Stock Award Agreements for four officers: Randall W. Atkins, Michael D. Bauersachs, Jeremy R. Sussman, and Christopher L. Blanchard. The changes include:
- New Grants: Awards of 6,873 shares to Mr. Atkins, 6,873 shares to Mr. Bauersachs, 3,656 shares to Mr. Sussman, and 3,887 shares to Mr. Blanchard.
- Vesting Date Adjustments:
- 2017 Grants (137,457 shares each to Atkins and Bauersachs): Vesting moved from December 31, 2019, to June 30, 2020.
- 2018 Grants (124,378 shares each to Atkins and Bauersachs; 77,736 shares to Blanchard): Vesting moved from December 31, 2020, to June 30, 2021.
- 2019 Grants (228,520 shares each to Atkins and Bauersachs; 95,980 shares to Blanchard; 73,126 shares to Sussman): Vesting moved from December 31, 2021, to June 30, 2022.
Guidance, Outlook, and Risks
The filing contains no management commentary regarding financial guidance, outlook, risks, contingencies, or unusual items. The document is strictly procedural regarding the execution of the amended agreements.
Investor Verification Checklist
- Verify the total number of shares granted and the specific vesting schedules for each executive.
- Review the full text of the Amended Restricted Stock Award Agreements filed as Exhibits 10.1 through 10.4.
- Confirm the impact of the vesting date extensions on the company's future compensation expense recognition.