UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
CURRENT REPORT
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
The Board of Directors of Ramaco Resources, Inc. (the “Company”) determined that it was in the best interests of the Company and its stockholders to amend the Company’s Long-Term Incentive Plan (the “Plan”) to increase the number of shares of the Company’s common stock issuable under the Plan from 6,937,425 shares to 10,937,425 shares and extend the date of the Plan’s expiration to 2032, pursuant to the Amendment to the Plan (the “Amendment”). Yorktown Energy Partners IX, L.P., Yorktown Energy Partners X, L.P., Yorktown Energy Partners XI, L.P., Energy Capital Partners Mezzanine Opportunities Fund, LP, Energy Capital Partners Mezzanine Opportunities Fund A, LP and ECP Mezzanine B (Ramaco IP), LP, representing approximately 51.29% of the voting power of the Company, subsequently approved the Amendment by written consent.
The Plan is a long-term incentive plan pursuant to which awards, including stock options, stock appreciation rights, restricted stock, performance awards, restricted stock units, bonus stock, dividend equivalents, other stock-based awards and cash awards, may be granted to certain employees and other service providers of the Company and its subsidiaries. It is not possible to determine specific amounts and types of awards that may be granted to eligible participants under the Plan at this time because the grant and payment of such awards is subject to the discretion of the Board’s Compensation Committee.
The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the Amendment, a copy of which is filed herewith as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein.
Item 5.07 Submission of Matters to a Vote of Security Holders.
The information set forth under Item 5.02 above is incorporated by reference into this Item 5.07.
Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
Exhibit No. | Description | |
10.1 | First Amendment to the Ramaco Resources, Inc. Long-Term Incentive Plan. | |
104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101). |
Signature(s)
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: February 2, 2022
Ramaco Resources, Inc. | |||
By: | /s/ Randall W. Atkins | ||
Name: | Randall W. Atkins | ||
Title: | Chairman and Chief Executive Officer |