Michael R. Graney
Ramaco ResourcesAbout Michael R. Graney
Ramaco Resources’ proxy identifies the independent director as Patrick C. Graney, III (age 71), serving since December 2016; no director named “Michael R. Graney” is referenced. The analysis below covers Patrick C. Graney, III, METC’s independent director, with background including a B.A. from the University of Virginia and an M.B.A. from the Darden School at UVA . He is classified as independent under Nasdaq rules and eligible for Compensation Committee membership standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| One Stop Convenience Store chain | Founder and Chairman | Not disclosed | Built regional retail operations; leadership background |
| Petroleum Products, Inc. | President & CEO | Not disclosed | Motor fuel/lubricant distribution; operational leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Truist Financial Corp. | Director | Oct 2018 – Aug 2024 | Retired Aug 2024 |
| West Virginia Chamber of Commerce | Director/Board member | Not disclosed | Non-profit/industry body |
| University of Charleston | Board member | Not disclosed | Education institution |
| Various privately held companies | Board roles | Not disclosed | Investor and director |
Board Governance
- Independence: The Board determined Graney is independent under Nasdaq rules, and also independent under additional standards for Compensation Committee membership .
- Committee assignments (2024): Chair – Compensation; Member – Nominating & Corporate Governance; Member – Finance & Investment .
- Attendance: In 2024, the Board met 4 times and committees met 24 times; each director attended more than 75% of the Board and committee meetings on which they served .
- Executive sessions: Independent directors hold separate scheduled meetings without management .
- Risk oversight: Committees cover specific risks (Audit—financial/cyber, Compensation—pay plans, Nominating—governance, EHS—environment, Finance—capital/financing, Technology—coal technologies) .
| Committee | 2024 Meetings | Graney Membership | Chair |
|---|---|---|---|
| Compensation | 3 | Yes | Yes |
| Nominating & Corporate Governance | 2 | Yes | No |
| Finance & Investment | 3 | Yes | No |
Fixed Compensation
| Year | Cash Retainer ($) | Committee Chair Fees ($) | Total Cash ($) |
|---|---|---|---|
| 2024 | 125,000 | 25,000 | 150,000 |
| 2023 | 125,000 | 25,000 | 150,000 |
| 2022 | 150,000 monthly retainer total | Not disclosed separately | 150,000 |
Notes: Paid in monthly (retainer) and quarterly (chair) installments; no meeting fees disclosed; directors reimbursed for reasonable Board meeting expenses .
Performance Compensation
| Grant Date | Award Type | Shares | Grant-Date Fair Value ($) | Vesting |
|---|---|---|---|---|
| Feb 29, 2024 | Restricted Stock | 5,297 | 93,121 | Fully vested Jan 2025 |
| Feb 20, 2023 | Restricted Stock | 9,588 | 101,729 | Fully vested Jan 2024 |
| Feb 16, 2022 | Restricted Stock | 8,489 | 132,853 | Fully vested at year-end 2022 |
Notes: Director equity awards are time-based restricted stock; no performance (PSU/TSR) metrics disclosed for non-employee directors .
Other Directorships & Interlocks
- Public company: Truist Financial Corp. Director (Oct 2018 – Aug 2024); retired in Aug 2024 .
- Non-profit/other boards: West Virginia Chamber of Commerce; University of Charleston; several privately held companies (investor/director) .
Expertise & Qualifications
- Finance and leadership: Founder/Chairman, President/CEO; extensive managerial and financial experience .
- Board qualifications: Independent director; eligible for Compensation Committee and experienced in governance .
- Education: B.A., University of Virginia; M.B.A., Darden School (UVA) .
Equity Ownership
| Security | Shares Beneficially Owned | % of Class |
|---|---|---|
| Class A Common | 208,340 | <1% (“*”) |
| Class B Common | 45,376 | <1% (“*”) |
| Total Common | 253,716 | <1% (“*”) |
Notes: Beneficial ownership as of April 29, 2025, determined per Rule 13d-3; table marks “*” for less than 1% .
Governance Assessment
- Strengths: Independent status and service as Compensation Committee Chair; active committee engagement (three committees), consistent attendance (>75%); use of independent compensation consultant (Meridian) to benchmark director/executive pay, indicating process rigor .
- Compensation alignment: Director pay combines fixed cash and annual time-based equity that vests within one year; equity creates alignment but lacks explicit performance conditions (common for directors) .
- Policies reducing risk: Company prohibits hedging/monetization transactions in company securities by directors; Related Persons Transactions Policy assigns Audit Committee oversight of conflicts .
- RED FLAGS (monitor): Company-level related party transactions involving management/family (not involving Graney) warrant ongoing oversight; no director-specific related-party transactions disclosed for Graney .