AREC · American Resources Corp · Insider Trading
The latest filing states the doubt was alleviated.
“conditions existed at the time of issuance of those financial statements — including recurring operating losses and limited available liquidity that raised substantial doubt about the Company's ability to continue as a going concern within one year from the issuance date of those financial statements. On October 13 2025, the Company received equity financing totaling gross proceeds of $33.7 million and on October 15, 2025, the Company receive equity financing totaling $40 million, both through a private placement of common shares, which substantially improved the Company's cash position and led to management's later assessment that the conditions that had previously raised substantial doubt had been alleviated. Management has concluded that, as of the date of issuance of these consolidated financial statements, substantial doubt about the Company's ability to continue as a going concern no longer exists.”View the 10-K filed May 20, 2026
Trades by corporate insiders — officers, directors and holders of more than 10% of the shares — disclosed to the SEC on Forms 4 and 5. Form 3 supplies initial ownership rather than a trade; Form 4 must be filed within two business days of the trade.
| Date | Insider | Role | Type | Security | Shares |
|---|---|---|---|---|---|
| 2023-08-15 | Sauve Thomas M. |
Director, President |
Gift↑
Filing footnotes — Class A Common (Indirect)
Represents shares held by Midwest General Investment Company LLC, which is wholly owned by a family trust of which Mr. Sauve and his sibling are beneficiaries |
Class A Common
(I)
|
4,429,501 |
| 2023-08-15 | Jensen Mark C. |
Director, Chief Executive Officer |
Gift↑
Filing footnotes — Class A Common (Indirect)
Represents shares held by White River Ventures LLC, which is wholly owned by a family trust of which Mr. Jensen and his wife and children are beneficiaries. |
Class A Common
(I)
|
5,199,896 |
| 2023-08-15 | Jensen Mark C. |
Director, Chief Executive Officer |
Gift↓
Filing footnotes — Class A Common (Direct)
Represents shares gifted in an exempt transaction under Rule 16b-5 by the reporting person for no consideration to White River Ventures LLC, which is wholly owned by a family trust of which Mr. Jensen and his wife and children are beneficiaries. |
Class A Common
|
5,199,896 |
| 2023-08-15 | Sauve Thomas M. |
Director, President |
Gift↓
Filing footnotes — Class A Common Stock (Direct)
Represents shares gifted in an exempt transaction under Rule 16b-5 by the reporting person for no consideration to Midwest General Investment Company LLC, which is wholly owned by a family trust of which Mr. Sauve and his sibling are beneficiaries. |
Class A Common Stock
|
4,429,501 |
| 2023-06-15 | Taylor Kirk Patrick |
Chief Financial Officer |
Buy↑
Filing footnotes — Class A Common Stock (Direct)
Purchased pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934, adopted by Reporting Person on or about March 15, 2023 |
Class A Common Stock
|
1,250 |
| 2023-05-23 | Taylor Kirk Patrick |
Chief Financial Officer |
Buy↑
Filing footnotes — Class A Common Stock (Direct)
Purchased pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934, adopted by Reporting Person on or about March 15, 2023 |
Class A Common Stock
|
1,250 |
| 2023-05-10 | Jensen Mark C. |
Director, Chief Executive Officer |
Buy↑
Filing footnotes — Class A Common Stock (Direct)
Purchased pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934, adopted by Reporting Person on or about November 18, 2021 |
Class A Common Stock
|
5,000 |
| 2023-04-11 | Jensen Mark C. |
Director, Chief Executive Officer |
Buy↑
Filing footnotes — Class A Common Stock (Direct)
Purchased pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934, adopted by Reporting Person on or about November 18, 2021 |
Class A Common Stock
|
5,000 |
| 2023-03-16 | Jensen Mark C. |
Director, Chief Executive Officer |
Buy↑
Filing footnotes — Class A Common Stock (Direct)
Purchased pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934. |
Class A Common Stock
|
5,000 |
| 2023-02-13 | Jensen Mark C. |
Director, Chief Executive Officer |
Buy↑
Filing footnotes — Class A Common Stock (Direct)
Purchased pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934. |
Class A Common Stock
|
5,000 |
| 2023-02-07 | GOLDEN PROPERTIES LTD. |
10% Owner |
Sell↓
|
Class A Common Stock
|
30,000 |
| 2023-02-07 | GOLDEN PROPERTIES LTD. |
10% Owner |
Sell↑
|
Class A Common Stock
|
30,000 |
| 2023-02-07 | GOLDEN PROPERTIES LTD. |
10% Owner |
Sell↓
|
Class A Common Stock
|
30,000 |
| 2023-02-06 | GOLDEN PROPERTIES LTD. |
10% Owner |
Sell↓
|
Class A Common Stock
|
5,000 |
| 2023-02-06 | GOLDEN PROPERTIES LTD. |
10% Owner |
Sell↓
|
Class A Common Stock
|
5,000 |
| 2023-01-10 | Jensen Mark C. |
Director, Chief Executive Officer |
Buy↑
Filing footnotes — Class A Common Stock (Direct)
Purchased pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934. |
Class A Common Stock
|
5,000 |
| 2022-05-23 | Taylor Kirk Patrick |
Chief Financial Officer |
Buy↑
Filing footnotes — Class A Common Stock (Direct)
Purchased pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934. |
Class A Common Stock
|
1,000 |
| 2022-05-18 | Sauve Thomas M. |
Director, President |
Buy↑
Filing footnotes — Class A Common Stock (Direct)
Purchased pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934. |
Class A Common Stock
|
5,000 |
| 2022-05-18 | Jensen Mark C. |
Director, Chief Executive Officer |
Buy↑
Filing footnotes — Class A Common Stock (Direct)
Purchased pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934. |
Class A Common Stock
|
5,000 |
| 2022-04-18 | Sauve Thomas M. |
Director, President |
Buy↑
Filing footnotes — Class A Common Stock (Direct)
Purchased pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934. |
Class A Common Stock
|
5,000 |
| 2022-04-18 | Jensen Mark C. |
Director, Chief Executive Officer |
Buy↑
Filing footnotes — Class A Common Stock (Direct)
Purchased pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934. |
Class A Common Stock
|
5,000 |
| 2022-04-18 | Taylor Kirk Patrick |
Chief Financial Officer |
Buy↑
Filing footnotes — Class A Common Stock (Direct)
Purchased pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934. |
Class A Common Stock
|
1,000 |
| 2022-04-14 | Sauve Thomas M. |
Director, President |
Buy↑
Filing footnotes — Class A Common Stock (Direct)
Exercise of Warrant C-15 |
Class A Common Stock
|
5,364 |
| 2022-03-16 | Sauve Thomas M. |
Director, President |
Buy↑
|
Class A Common Stock
|
5,000 |
| 2022-03-16 | Jensen Mark C. |
Director, Chief Executive Officer |
Buy↑
Filing footnotes — Class A Common Stock (Direct)
Purchased pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934. |
Class A Common Stock
|
5,000 |
| 2022-02-18 | Jensen Mark C. |
Director, Chief Executive Officer |
Buy↑
Filing footnotes — Class A Common Stock (Direct)
Purchased pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934. |
Class A Common Stock
|
5,000 |
| 2022-02-18 | Sauve Thomas M. |
Director, President |
Buy↑
Filing footnotes — Class A Common Stock (Direct)
Purchased pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934. |
Class A Common Stock
|
5,000 |
| 2022-01-25 | Sauve Thomas M. |
Director, President |
Buy↑
Filing footnotes — Class A Common Stock (Direct)
Purchased pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934. |
Class A Common Stock
|
5,000 |
| 2022-01-25 | Jensen Mark C. |
Director, Chief Executive Officer |
Buy↑
Filing footnotes — Class A Common Stock (Direct)
Purchased pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934. Corrected due to double counting of shares |
Class A Common Stock
|
5,000 |
| 2022-01-06 | Sauve Thomas M. |
Director, President |
Buy↑
Filing footnotes — Class A Common Stock (Direct)
Purchased pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934. |
Class A Common Stock
|
5,000 |
| 2022-01-04 | Jensen Mark C. |
Director, Chief Executive Officer |
Buy↑
Filing footnotes — Class A Common Stock (Direct)
Purchased pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934. |
Class A Common Stock
|
5,000 |
| 2021-12-16 | Thompson Tarlis |
Chief Operating Officer |
Award↑
Filing footnotes — Option (Direct)
Right to purchase Class A Common Stock pursuant to company's 2018 Stock Option Plan Vests equally over four years with first tranche vesting immediately |
Option
|
200,000 |
| 2021-12-16 | Layman Michael G. |
Director |
Buy↑
|
Class A Common Stock
(I)
|
168,782 |
| 2021-12-13 | Taylor Kirk Patrick |
Chief Financial Officer |
Award↑
Filing footnotes — Option (Direct)
Right to purchase Class A Common Stock pursuant to company's 2018 Stock Option Plan Vests equally over two years with first tranche vesting immediately |
Option
|
100,000 |
| 2021-12-13 | Taplin Courtenay O. |
Director |
Award↑
Filing footnotes — Option (Direct)
Right to purchase Class A Common Stock pursuant to company's 2018 Stock Option Plan Vests equally over three years with first tranche vesting immediately |
Option
|
150,000 |
| 2021-12-13 | Sauve Thomas M. |
Director, President |
Award↑
Filing footnotes — Option (Direct)
Right to purchase Class A Common Stock pursuant to company's 2018 Stock Option Plan Vests equally over six years with first tranche vesting immediately. |
Option
|
275,000 |
| 2021-12-13 | Sauve Thomas M. |
Director, President |
Award↑
Filing footnotes — Option (Direct)
Right to purchase Class A Common Stock pursuant to company's 2018 Stock Option Plan Vests equally over four years with first tranche vesting immediately. |
Option
|
200,000 |
| 2021-12-13 | Jensen Mark C. |
Director, Chief Executive Officer |
Award↑
Filing footnotes — Option (Direct)
Right to purchase Class A Common Stock pursuant to company's 2018 Stock Option Plan. Vests equally over nine years with first tranche vesting immediately. |
Option
|
450,000 |
| 2021-12-13 | Layman Michael G. |
Director |
Award↑
Filing footnotes — Option (Direct)
Right to purchase Class A Common Stock pursuant to Non-Qualified Stock Option Agreement |
Option
|
250,000 |
| 2021-04-28 | Sauve Thomas M. |
Director, President |
Exercise↓
Filing footnotes — Warrant (Indirect)
Entity for which Reporting Person is a beneficial owner exercised all of its Warrants held in Issuer. Warrant exercisable into Class A Common Stock of American Resources Corporation at an exercise price of $1.50 per share any time up until the expiration date at discretion of the holder. |
Warrant
(I)
|
886 |
| 2021-04-28 | Jensen Mark C. |
Director, Chief Executive Officer |
Exercise↓
Filing footnotes — Warrant (Direct)
Represents exercise of warrants held by Reporting Person. Warrant exercisable into Class A Common Stock of American Resources Corporation at an exercise price of $1.50 per share any time up until the expiration date at discretion of the holder. |
Warrant
|
500 |
| 2021-04-28 | Sauve Thomas M. |
Director, President |
Other↓
Filing footnotes — Convertible Debt (Direct)
Reporting Person converted all of its Convertible Debt and accrued interest held in Issuer. Represents conversion of convertible debt and accrued interest held by Reporting Person. Convertible debt convertible into Class A Common Shares of American Resources Corporation at $1.05 per share at discretion of holder. Convertible debt matures on 04/14/2022. |
Convertible Debt
|
0 |
| 2021-04-28 | Sauve Thomas M. |
Director, President |
Other↓
Filing footnotes — Convertible Debt (Indirect)
Entity for which Reporting Person is a beneficial owner converted all of its Convertible Debt and accrued interest held in Issuer. Represents conversion of convertible debt and accrued interest held indirectly by Reporting Person. Convertible debt convertible into Class A Common Shares of American Resources Corporation at $1.05 per share at discretion of holder. Convertible debt matures earliest on 06/01/2022. |
Convertible Debt
(I)
|
0 |
| 2021-04-28 | Jensen Mark C. |
Director, Chief Executive Officer |
Other↓
Filing footnotes — Convertible Debt (Indirect)
Entity for which Reporting Person is a beneficial owner converted all of its Convertible Debt and accrued interest held in Issuer. Represents conversion of convertible debt and accrued interest held indirectly by Reporting Person. Convertible debt convertible into Class A Common Shares of American Resources Corporation at $1.05 per share at discretion of holder. Convertible debt matures earliest on 06/01/2022. |
Convertible Debt
(I)
|
0 |
| 2021-04-28 | Sauve Thomas M. |
Director, President |
Convert↑
Filing footnotes — Class A Common Stock (Indirect)
Represents exercise of warrants held indirectly by Reporting Person. |
Class A Common Stock
(I)
|
886 |
| 2021-04-28 | Jensen Mark C. |
Director, Chief Executive Officer |
Exercise↓
Filing footnotes — Warrant (Indirect)
Entity for which Reporting Person is a beneficial owner exercised all of its Warrants held in Issuer. Warrant exercisable into Class A Common Stock of American Resources Corporation at an exercise price of $1.50 per share any time up until the expiration date at discretion of the holder. |
Warrant
(I)
|
1,329 |
| 2021-04-28 | Sauve Thomas M. |
Director, President |
Convert↑
Filing footnotes — Class A Common Stock (Direct)
Represents conversion of convertible debt held by Reporting Person. |
Class A Common Stock
|
58,127 |
| 2021-04-28 | Sauve Thomas M. |
Director, President |
Convert↑
Filing footnotes — Class A Common Stock (Indirect)
Represents conversion of convertible debt held indirectly by Reporting Person. |
Class A Common Stock
(I)
|
9,401 |
| 2021-04-28 | Jensen Mark C. |
Director, Chief Executive Officer |
Other↓
Filing footnotes — Convertible Debt (Direct)
Reporting Person converted all of its Convertible Debt and accrued interest held in Issuer. Represents conversion of convertible debt and accrued interest held by Reporting Person. Convertible debt convertible into Class A Common Shares of American Resources Corporation at $1.05 per share at discretion of holder. Convertible debt matures on 04/14/2022. |
Convertible Debt
|
0 |
| 2021-04-28 | Jensen Mark C. |
Director, Chief Executive Officer |
Convert↑
Filing footnotes — Class A Common Stock (Indirect)
Represents exercise of warrants held indirectly by Reporting Person. |
Class A Common Stock
(I)
|
1,329 |