Ramaco Resources Management

Management criteria checks 2/4

Ramaco Resources' CEO is Randy Atkins, appointed in Dec 2020, has a tenure of 2.75 years. total yearly compensation is $5.87M, comprised of 14.5% salary and 85.5% bonuses, including company stock and options. directly owns 6.25% of the company’s shares, worth €29.17M. The average tenure of the management team and the board of directors is 2.8 years and 4.3 years respectively.

Key information

Randy Atkins

Chief executive officer

US$5.9m

Total compensation

CEO salary percentage	14.5%
CEO tenure	2.8yrs
CEO ownership	6.3%
Management average tenure	2.8yrs
Board average tenure	4.3yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Randy Atkins's remuneration changed compared to Ramaco Resources's earnings?
Date	Total Compensation	Salary	Company Earnings
Jun 30 2023	n/a	n/a	US$74m
Mar 31 2023	n/a	n/a	US$100m
Dec 31 2022	US$6m	US$850k	US$116m
Sep 30 2022	n/a	n/a	US$120m
Jun 30 2022	n/a	n/a	US$100m
Mar 31 2022	n/a	n/a	US$77m
Dec 31 2021	US$4m	US$600k	US$40m
Sep 30 2021	n/a	n/a	US$16m
Jun 30 2021	n/a	n/a	US$5m
Mar 31 2021	n/a	n/a	-US$3m
Dec 31 2020	US$3m	US$540k	-US$5m
Sep 30 2020	n/a	n/a	US$2m
Jun 30 2020	n/a	n/a	US$12m
Mar 31 2020	n/a	n/a	US$20m
Dec 31 2019	US$2m	US$500k	US$25m
Sep 30 2019	n/a	n/a	US$26m
Jun 30 2019	n/a	n/a	US$27m
Mar 31 2019	n/a	n/a	US$27m
Dec 31 2018	US$2m	US$425k	US$25m
Sep 30 2018	n/a	n/a	US$19m
Jun 30 2018	n/a	n/a	US$7m
Mar 31 2018	n/a	n/a	-US$7m
Dec 31 2017	US$2m	US$391k	-US$15m
Sep 30 2017	n/a	n/a	-US$14m
Jun 30 2017	n/a	n/a	-US$10m
Mar 31 2017	n/a	n/a	-US$7m
Dec 31 2016	US$2m	US$300k	-US$8m

Compensation vs Market: Randy's total compensation ($USD5.87M) is above average for companies of similar size in the German market ($USD1.11M).

Compensation vs Earnings: Randy's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Randy Atkins (70 yo)

2.8yrs

Tenure

US$5,867,771

Compensation

Mr. Randall W. Atkins, also known as Randy, has been the Chief Executive Officer and Chairman of the Board at Ramaco, LLC since 2011 and is its Sole Owner. Mr. Atkins is an Owner or Controller of a number...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Randall Atkins	Founder	2.8yrs	US$5.87m	6.25% $ 29.2m
Jeremy Sussman	Chief Financial Officer	4.3yrs	US$3.02m	0.83% $ 3.9m
Christopher Blanchard	Executive VP & COO	5.8yrs	US$2.93m	0.99% $ 4.6m
John Marcum	Executive VP	5.7yrs	US$1.52m	0.29% $ 1.4m
Jason Fannin	Executive VP	3.4yrs	US$2.75m	0.28% $ 1.3m
James Kreutzer	Senior VP & Chief Administrative Officer	less than a year	no data	0.016% $ 75.2k
Barkley Sturgill	Senior VP	3.1yrs	no data	0.33% $ 1.6m
Paul Horn	Senior VP & Chief Mine Development Officer	less than a year	no data	0.048% $ 225.6k
Sabrina Duba	Senior Vice President of Operations	less than a year	no data	no data
Scott Spears	Senior Vice President of Finance	less than a year	no data	no data
Toby Edwards	Senior Vice President of Mining Operations	less than a year	no data	no data

2.8yrs

Average Tenure

52yo

Average Age

Experienced Management: 5R02's management team is considered experienced (2.8 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Randall Atkins	Founder	8.1yrs	US$5.87m	6.25% $ 29.2m
Peter Leidel	Non-Independent Director	3.8yrs	no data	0.14% $ 671.7k
Bryan Lawrence	Non-Independent Director	6.8yrs	no data	0.23% $ 1.1m
Richard Whiting	Independent Director	6.8yrs	US$282.85k	0.25% $ 1.2m
David Frischkorn	Independent Director	2.7yrs	US$282.85k	0.072% $ 336.9k
Patrick Graney	Independent Director	6.8yrs	US$282.85k	0.37% $ 1.7m
Charles Christian	Independent Director	4.3yrs	US$282.85k	0.18% $ 833.3k
E. Jones	Independent Director	2.7yrs	US$282.85k	0.095% $ 443.1k
Aurelia Giacometto	Independent Director	1.7yrs	US$282.85k	0.027% $ 128.3k

4.3yrs

Average Tenure

70yo

Average Age

Experienced Board: 5R02's board of directors are considered experienced (4.3 years average tenure).

Ramaco Resources Management

Management criteria checks 2/4

Key information

Recent management updates

Ramaco Resources, Inc. Appoints Alex Moyes as Director of Critical Minerals and Planning

Ramaco Resources, Inc. Announces Executive Changes

High number of new directors

Ramaco Resources, Inc., Annual General Meeting, Jun 23, 2022

High number of new directors

Ramaco Resources, Inc. Announces Board Changes

Recent updates

Ramaco Resources, Inc. to Report Q1, 2024 Results on May 08, 2024

Ramaco Resources, Inc. Provides sales and Production Guidance for the Full Year 2024

Ramaco Resources, Inc. to Report Q4, 2023 Results on Mar 07, 2024

Ramaco Resources, Inc. (NasdaqGS:METC) acquired Coal preparation plant facility at Maben for $3 million.

Ramaco Resources, Inc. Declares Quarterly Cash Dividend on the CORE Resources Class B Shares, Payable on March 15, 2024

Ramaco Resources, Inc. Appoints Alex Moyes as Director of Critical Minerals and Planning

Ramaco Resources, Inc. Declares the Quarterly Class A Common Stock Cash Dividend for the First Quarter of 2024, Payable on March 15, 2024

Ramaco Resources, Inc. Declares Quarterly Cash Dividend on Class B Shares, Payable on December 15, 2023

Ramaco Resources, Inc. Provides Sales Guidance for the Third Quarter and Revises Production and Sales Guidance for the Year 2023

Ramaco Resources, Inc. to Report Q2, 2023 Results on Aug 08, 2023

Now 21% undervalued after recent price drop

Investor sentiment deteriorates as stock falls 16%

Upcoming dividend of US$0.13 per share at 5.0% yield

Investor sentiment improves as stock rises 28%

Ramaco Resources, Inc. Provides Production Guidance for the Second Quarter of 2023 and Full Year 2023

First quarter 2023 earnings released: EPS: US$0.57 (vs US$0.94 in 1Q 2022)

Full year 2022 earnings released: EPS: US$2.63 (vs US$0.90 in FY 2021)

Upcoming dividend of US$0.13 per share at 4.3% yield

Investor sentiment deteriorated over the past week

Ramaco Resources, Inc. Provides Earnings Guidance for the Fourth Quarter and Full Year Ending December 31, 2022; Provides Production Guidance for the Full-Year 2023

Upcoming dividend of US$0.11 per share

Third quarter 2022 earnings released: EPS: US$0.61 (vs US$0.16 in 3Q 2021)

Ramaco Resources, Inc. Provides Earnings Guidance for the Fourth Quarter of 2022 and Production Guidance for the Year 2022

Ramaco Resources, Inc. to Report Q3, 2022 Results on Nov 07, 2022

Ramaco Resources, Inc. Announces Fourth-Quarter Dividend of 2022, Payable on December 15, 2022

Ramaco Resources, Inc. Announces Executive Changes

Ramaco Resources, Inc. Provides Production and Earnings Guidance for the Full Year 2022

Ramaco Resources, Inc. to Report Q2, 2022 Results on Aug 08, 2022

Ramaco Resources, Inc. Announces Third Quarter Dividend, Payable on September 15, 2022

Ramaco Resources, Inc. Updates on Production Impact from Methane Ignition At Berwind Complex

High number of new directors

Ramaco Resources, Inc.(NasdaqGS:METC) dropped from Russell Microcap Value Index

Ramaco Resources, Inc. Announces Second Quarter Dividend, Payable on June 15, 2022

Ramaco Resources, Inc. to Report Q1, 2022 Results on May 11, 2022

Ramaco Resources, Inc., Annual General Meeting, Jun 23, 2022

Ramaco Resources, Inc. announced delayed annual 10-K filing

Full year 2021 earnings released: EPS: US$0.90 (vs US$0.12 loss in FY 2020)

Investor sentiment deteriorated over the past week

Now 25% undervalued

Investor sentiment improved over the past week

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Ramaco Resources, Inc. Announces an Increase of Its 2022 Dividend by 100%, Payable on March 15, 2022

Ramaco Resources, Inc. to Report Q4, 2021 Results on Feb 24, 2022

Investor sentiment improved over the past week

High number of new directors

Investor sentiment deteriorated over the past week

Investor sentiment deteriorated over the past week

Third quarter 2021 earnings released: EPS US$0.16 (vs US$0.11 loss in 3Q 2020)

Investor sentiment improved over the past week

Ramaco Resources, Inc. Provides Production Guidance for the Year 2021

Second quarter 2021 earnings released: EPS US$0.23 (vs US$0.062 in 2Q 2020)

First quarter 2021 earnings released: EPS US$0.095 (vs US$0.047 in 1Q 2020)

Ramaco Resources, Inc. Provides Production Guidance for the Year 2021

New 90-day high: €4.08

Ramaco Resources, Inc. Announces Board Changes

Non-Independent Director has left the company

Full year 2020 earnings released: US$0.12 loss per share (vs US$0.61 profit in FY 2019)

Revenue beats expectations

Ramaco Resources, Inc. Announces Management Changes

Ramaco Resources, Inc. to Report Q4, 2020 Results on Feb 18, 2021

New 90-day high: €3.00

Ramaco Resources, Inc.(NasdaqGS:METC) dropped from Russell 2000 Dynamic Index

New 90-day low: €2.32

Investor sentiment deteriorated over the past week

Ramaco Resources, Inc. Announces Management Changes

Ramaco Resources, Inc. Announces Executive Changes

Third quarter 2020 earnings released: US$0.11 loss per share

Revenue beats expectations

Ramaco Resources, Inc. to Report Q3, 2020 Results on Nov 03, 2020