# EDGAR Filing Document

**Accession Number:** 0001687187
**File Stem:** 0001140361-26-012432
**Filing Date:** 2026-3
**Character Count:** 16775
**Document Hash:** e18dca6c7538817c5c2d2a6dd9526818
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001140361-26-012432.hdr.sgml**: 20260331

**ACCESSION NUMBER**: 0001140361-26-012432

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260331

**DATE AS OF CHANGE**: 20260331

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ramaco Resources, Inc.
- **CENTRAL INDEX KEY:** 0001687187
- **STANDARD INDUSTRIAL CLASSIFICATION:** BITUMINOUS COAL & LIGNITE MINING [1220]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-89887
- **FILM NUMBER:** 26824294

**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
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Yorktown Energy Partners XI, L.P.
- **CENTRAL INDEX KEY:** 0001667954

**ORGANIZATION NAME:**
- **EIN:** 811279864
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** 410 PARK AVENUE
- **STREET 2:** 20TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** 212-515-2115

**MAIL ADDRESS:**
- **STREET 1:** 410 PARK AVENUE
- **STREET 2:** 20TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 4)**

**Ramaco Resources, Inc.**

*(Name of Issuer)*

**Class A Common Stock, par value $0.01 per share**

*(Title of Class of Securities)*

**—**

*(CUSIP Number)*

**Bryan H. Lawrence**<br>Yorktown Partners LLC, 410 Park Avenue<br>20th Floor<br>New York NY 10022<br>(212) 515-2112

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**03/27/2026**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Yorktown Energy Partners XI, L.P.** | Name of reporting person<br>**Yorktown Energy Partners XI, L.P.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**2979968.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**2979968.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**2979968.00** | Aggregate amount beneficially owned by each reporting person<br>**2979968.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**5.32%** | Percent of class represented by amount in Row (11)<br>**5.32%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

**Comment for Reporting Person:** (1) The percent of class represented by the amount in Row (11) is based on 55,963,520 shares of Class A common stock, par value $0.01 per share ("Class A Common Stock") of Ramaco Resources, Inc. (the "Issuer") outstanding as of February 25, 2026, as reported in the Issuer's Form 10-K, filed with the Securities and Exchange Commission ("SEC") on February 26, 2026.

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Yorktown XI Co LP** | Name of reporting person<br>**Yorktown XI Co LP** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**2979968.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**2979968.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**2979968.00** | Aggregate amount beneficially owned by each reporting person<br>**2979968.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**5.32%** | Percent of class represented by amount in Row (11)<br>**5.32%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

**Comment for Reporting Person:** (1) These securities are directly held by Yorktown Energy Partners XI, L.P. Yorktown XI Company LP is the sole general partner of Yorktown Energy Partners XI, L.P. As a result, Yorktown XI Company LP may be deemed to have the power to vote or direct the vote or to dispose or direct the disposition of the shares owned by Yorktown Energy Partners XI, L.P. Yorktown XI Company LP disclaims beneficial ownership of the securities owned by Yorktown Energy Partners XI, L.P. in excess of its pecuniary interests therein.

(2) The percent of class represented by the amount in Row (11) is based on 55,963,520 shares of Class A Common Stock of the Issuer outstanding as of February 25, 2026, as reported in the Issuer's Form 10-K, filed with the SEC on February 26, 2026.

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Yorktown XI Associates LLC** | Name of reporting person<br>**Yorktown XI Associates LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**2979968.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**2979968.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**2979968.00** | Aggregate amount beneficially owned by each reporting person<br>**2979968.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**5.32%** | Percent of class represented by amount in Row (11)<br>**5.32%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** (1) These securities are directly held by Yorktown Energy Partners XI, L.P. Yorktown XI Company LP is the sole general partner of Yorktown Energy Partners XI, L.P. and Yorktown XI Associates LLC is the sole general partner of Yorktown XI Company LP. As a result, Yorktown XI Associates LLC may be deemed to have the power to vote or direct the vote or to dispose or direct the disposition of the shares owned by Yorktown Energy Partners XI, L.P. Yorktown XI Company LP and Yorktown XI Associates LLC disclaim beneficial ownership of the securities owned by Yorktown Energy Partners XI, L.P. in excess of their pecuniary interests therein.

(2) The percent of class represented by the amount in Row (11) is based on 55,963,520 shares of Class A Common Stock of the Issuer outstanding as of February 25, 2026, as reported in the Issuer's Form 10-K, filed with the SEC on February 26, 2026.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Class A Common Stock, par value $0.01 per share

**(b) Name of Issuer:**
Ramaco Resources, Inc.

**(c) Address of Issuer's Principal Executive Offices:**
250 West Main Street, Suite 1900, Lexington, KY, 40507

This Amendment No. 4 amends the Schedule 13D with respect to the shares of Class A Common Stock, of the Issuer, previously filed by Yorktown Energy Partners XI, L.P., a Delaware limited partnership Yorktown XI Company LP, a Delaware limited partnership, and Yorktown XI Associates LLC, a Delaware limited liability company (together, the "Reporting Persons") with the SEC on February 21, 2017, as amended by Amendment No. 1 thereto filed with the SEC on November 21, 2023, as further amended by Amendment No, 2, filed with the SEC on March 31, 2025, as further amended by Amendment No. 3, filed with the SEC on August 11, 2025 (the "Schedule 13D"). Capitalized terms used herein without definition shall have the meanings given to such terms in the Schedule 13D. This Amendment No. 4 amends the Schedule 13D as specifically set forth herein.

**Item 5. Interest in Securities of the Issuer**

**(a)**
Item 5(a) is hereby amended and restated in its entirety by the following:

As of March 27, 2026, each of the Reporting Persons beneficially owns 2,979,968 shares of Class A Common Stock of the Issuer, representing 5.32% of the issued and outstanding shares of Class A Common Stock of the Issuer (based on 55,963,520 shares of Class A Common Stock of the Issuer outstanding as of February 25, 2026, as reported in the Issuer's Form 10-K, filed with the SEC on February 26, 2026). Each Reporting Person disclaims beneficial ownership of the reported Class A Common Stock except to the extent of such Reporting Person's pecuniary interest therein, and this statement shall not be deemed an admission that such Reporting Person is the beneficial owner of the reported Class A Common Stock for the purposes of Section 13(d) of the Exchange Act or any other purpose.

**(b)**
Item 5(b) is hereby amended and restated in its entirety by the following:

As of March 27, 2026, Yorktown Energy Partners XI, L.P. directly owns 2,979,968 shares of Class A Common Stock of the Issuer. Yorktown XI Company LP is the sole general partner of Yorktown Energy Partners XI, L.P. Yorktown XI Associates LLC is the sole general partner of Yorktown XI Company LP. Yorktown XI Associates LLC has the sole power to cause Yorktown XI Company LP to cause Yorktown Energy Partners XI, L.P. to vote or direct the vote or to dispose or direct the disposition of the shares owned by Yorktown Energy Partners XI, L.P.

**(c)**
Item 5(c) is hereby amended and restated in its entirety by the following:

From March 5, 2026 through March 27, 2026, Yorktown Equity Partners XI, L.P. sold 806,929 shares of Class A Common Stock of the Issuer in a series of open market sales. Except as disclosed in the table below, there have been no transactions in the shares of Class A Common Stock by the Reporting Persons in the last 60 days:

Date of Sale	Number of Shares	Weighted Average Price Per Share
March 5, 2026	        8,115	$15.1791(1)
March 17, 2026	80,683	$14.2172(2)
March 18, 2026	80,683	$13.7665(3)
March 19, 2026	161,366	$14.4059(4)
March 20, 2026	80,683	$13.4811(5)
March 23, 2026	80,683	$13.5327(6)
March 24, 2026	80,683	$14.0004 (7)
March 25, 2026	80,683	$14.0605 (8)
March 26, 2026	80,683	$13.6721 (9)
March 27, 2026	72,567	$15.3076(10)

1. This price is a weighted average price. These shares of Class A Common Stock were sold in multiple transactions at prices ranging from $15.00 to $15.60, inclusive. The Reporting Persons undertake to provide to 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 ranges set forth in footnotes (1), (2), (3), (4), (5), (6), (7) , (8), (9), and (10) herein.
2. This price is a weighted average price. These shares of Class A Common Stock were sold in multiple transactions at prices ranging from $13.905 to $14.4225, inclusive.
3. This price is a weighted average price. These shares of Class A Common Stock were sold in multiple transactions at prices ranging from $13.585 to $14.10, inclusive.
4. This price is a weighted average price. These shares of Class A Common Stock were sold in multiple transactions at prices ranging from $12.7075 to $15.077, inclusive.
5. This price is a weighted average price. These shares of Class A Common Stock were sold in multiple transactions at prices ranging from $13.10 to $14.0977, inclusive.
6. This price is a weighted average price. These shares of Class A Common Stock were sold in multiple transactions at prices ranging from $13.20 to $13.85, inclusive.
7. This price is a weighted average price. These shares of Class A Common Stock were sold in multiple transactions at prices ranging from $13.31 to $14.5711, inclusive.
8. This price is a weighted average price. These shares of Class A Common Stock were sold in multiple transactions at prices ranging from $13.80 to $14.35, inclusive.
9. This price is a weighted average price. These shares of Class A Common Stock were sold in multiple transactions at prices ranging from $13.335 to $14.04, inclusive.
10. This price is a weighted average price. These shares of Class A Common Stock were sold in multiple transactions at prices ranging from $13.97 to $15.7783, inclusive.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Yorktown Energy Partners XI, L.P.

**Signature:** /s/ Bryan H Lawrence

**Name/Title:** Managing Member of the general partner of the general partner

**Date:** 03/31/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Yorktown XI Co LP

**Signature:** /s/ Bryan H Lawrence

**Name/Title:** Managing Member of the general partner

**Date:** 03/31/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Yorktown XI Associates LLC

**Signature:** /s/ Bryan H Lawrence

**Name/Title:** Managing Member of the general partner

**Date:** 03/31/2026