AMR Alpha Metallurgical Resources, Inc.

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in 2/4 quarters. Q1 2026: $1.2B, Q3 2024: $0M, Q2 2024: $0M, Q1 2024: $1.1B

Is the most recent quarter's buyback spend more than 15% above the trailing average?

Latest quarter $1.2B vs trailing avg $366M (+216%)

What percentage of free cash flow is going to buybacks? Bull: 30%+. Bear: negative FCF or no buybacks.

Negative FCF ($-5M), buybacks not supported by cash flow

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Repurchased 26,991,810 shares = 210.8% of 12,805,909 outstanding (annualized)

Are officers and directors buying stock with their own money on the open market?

69 open-market purchases by 2 insiders

• Courtis Kenneth S. () bought 492 shares at $187.47 on 2026-03-12
• Courtis Kenneth S. () bought 608 shares at $188.85 on 2026-03-12
• Courtis Kenneth S. () bought 2,600 shares at $189.37 on 2026-03-12
• Courtis Kenneth S. () bought 362 shares at $190.65 on 2026-03-12
• Courtis Kenneth S. () bought 1,362 shares at $192.23 on 2026-03-12
• Courtis Kenneth S. () bought 1,676 shares at $193.17 on 2026-03-12
• Courtis Kenneth S. () bought 900 shares at $193.94 on 2026-03-12
• Courtis Kenneth S. () bought 2,598 shares at $185.28 on 2026-03-11
• Courtis Kenneth S. () bought 611 shares at $185.91 on 2026-03-11
• Courtis Kenneth S. () bought 4,052 shares at $187.36 on 2026-03-11

Are both company buybacks and insider buying independently active? Bull when the company is buying back stock in 2+ quarters and insiders have made 2+ open-market purchases.

Company buybacks in 2 quarters and 69 insider purchases by 2 insiders (overlapped in 1 quarter)

• Q1 2026: Courtis Kenneth S. bought while company spent $1.2B

Over the last 90 days, are insiders net buyers or net sellers on the open market?

Insiders bought $19M, sold $1M in the last 90 days (net buying)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

No buyback-insider divergence detected