FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response...
0.5
                      
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

RANKIN ALFRED M ET AL
2. Issuer Name and Ticker or Trading Symbol

NACCO INDUSTRIES INC [ NC ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__X__ Director                    _____ 10% Owner
__X__ Officer (give title below)    __X__ Other (specify below)
Chairman / Group Member
(Last)          (First)          (Middle)

NACCO INDUSTRIES, INC., 22901 MILLCREEK BLVD., SUITE 600
3. Date of Earliest Transaction (MM/DD/YYYY)

1/2/2026
(Street)

CLEVELAND, OH 44122
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)        (State)        (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock 1/2/2026  A(1)  1,052 A (2)216,005 I AMR Main Trust(A) (3)
Class A Common Stock         14,160 I AMR - IRA (4)
Class A Common Stock         1,975 I AMR - RMI (Delaware) (5)
Class A Common Stock         2,044 I AMR Associates NC, L.P. (6)
Class A Common Stock         10,110 I BTR - Class A Trust 
Class A Common Stock         34,936 I VGR - Trust (7)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Class B Common Stock  (2)           (2) (2)Class A Common Stock 25  25 I AMR RAIV - GP 
Class B Common Stock  (2)           (2) (2)Class A Common Stock 9,431  9,431 I By Trust/Daughter 2 (8)
Class B Common Stock  (2)           (2) (2)Class A Common Stock 9,431  9,431 I By Trust/Daughter 1 (9)
Class B Common Stock  (2)           (2) (2)Class A Common Stock 201,928  201,928 I AMR Associates NC, L.P. (6)

Explanation of Responses:
(1) Shares of Class A Common Stock awarded to the Reporting Person as "Required Shares" under the company's Non-Employee Directors' Equity Compensation Plan.
(2) N/A
(3) Reporting Person serves as Trustee of a Trust for the benefit of Alfred M. Rankin, Jr.
(4) Held in an Individual Retirement Account for the benefit of the Reporting Person.
(5) Represents the Reporting Person's proportionate limited partnership interest in shares of Rankin Associates II, L.P. held by Rankin Management, Inc. ("RMI"), as general partner.
(6) Represents the Reporting Person's proportionate limited partnership interest in shares held by AMR NC. The Reporting Person is the trustee of a trust for the benefit of the Reporting Person that is a limited partner of AMR NC.
(7) Reporting Person serves as Trustee of a Trust for the benefit of Victoire G. Rankin. Reporting Person disclaims beneficial ownership of all such shares.
(8) Reporting person serves as trustee of BTR 2012 GST for the benefit of Clara Williams.
(9) Reporting person serves as trustee of BTR 2012 GST Trust for the benefit of Helen R. Butler.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
RANKIN ALFRED M ET AL
NACCO INDUSTRIES, INC.
22901 MILLCREEK BLVD., SUITE 600
CLEVELAND, OH 44122
X
ChairmanGroup Member

Signatures
/s/ Matthew J. Dilluvio, attorney-in-fact1/5/2026
**Signature of Reporting PersonDate


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

POWER OF ATTORNEY

KNOW ALL MEN BY THESE PRESENTS, that the undersigned hereby constitutes and appoints John D. Neumann, Matthew J. Dilluvio, Kimberly J. Pustulka, Andrew C. Thomas and Eric Orsic, and each of them, as the true and lawful attorney or attorneys-in-fact, with full power of substitution and revocation, for the undersigned and in the name, place and stead of the undersigned, in any and all capacities, to execute, on behalf of the undersigned, any and all statements or reports under Section 16 of the Securities Exchange Act of 1934, as amended, with respect to the beneficial ownership of shares of Class A Common Stock, par value $1.00 per share, of NACCO Industries, Inc. (the ?Company?) and Class B Common Stock, par value $1.00 per share, of the Company, including, without limitation, all initial statements of beneficial ownership on Form 3, all statements of changes of beneficial ownership on Form 4 and all annual statements of beneficial ownership on Form 5 and any and all other documents that may be required, from time to time, to be filed with the Securities and Exchange Commission, to execute any and all amendments or supplements to any such statements or forms, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting to said attorney or attorneys-in-fact, and each of them, full power and authority to do so and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as the undersigned might or could do in person, hereby ratifying and confirming all that said attorney or attorneys-in-fact or any of them or their substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Alfred M. Rankin, Jr.;

Rankin Associates I, L.P. (f/k/a CTR Family Associates, L.P.) and Rankin Associates IV, L.P.

By: Alfred M. Rankin, Jr., as General Partner

Rankin Management, Inc.
By: Alfred M. Rankin, Jr., as President

Rankin Associates II, L.P.; Rankin Associates V, L.P.; and Rankin Associates VI, L.P.

By: Rankin Management, Inc., as General Partner

Alfred M. Rankin, Jr., as President

The Trust created under the Agreement, dated July 20, 2000, as supplemented, amended and restated, between Alfred M. Rankin, Jr., as trustee, and Clara T. Rankin, for the benefit of Clara T. Rankin;

The Trust created under the Agreement, dated September 28, 2000, as supplemented, amended and restated, between Alfred M. Rankin, Jr., as trustee, and Alfred M. Rankin, Jr., for the benefit of Alfred M. Rankin, Jr.;

The Trust created under the Agreement, dated September 28, 2000, between Alfred M. Rankin, Jr., as trustee, and Bruce T. Rankin, for the benefit of Bruce T. Rankin;

The Trust created under the Agreement, dated September 28, 2000, as supplemented, amended and restated, between Alfred M. Rankin, Jr., as trustee, and Victoire G. Rankin, for the benefit of Victoire G. Rankin;

BTR 2012 GST for Helen R. Butler; and

BTR 2012 GST for Clara R. Williams

By: Alfred M. Rankin, Jr. as Trustee

The Trust created under the Agreement, dated January 11, 1965, as supplemented, amended, and restated, between PNC Bank, as Co-Trustee, and Alfred M. Rankin, Jr., as Co-Trustee, for the benefit of the grandchildren; and

The Trust created under the Agreement, dated December 28, 1976, between PNC Bank as Co-Trustee, and Clara L.T. Rankin for the benefit of grandchildren; Alfred M. Rankin, Jr., Co-Trustee

By: Alfred M. Rankin, Jr., as Co-Trustee

Alfred M. Rankin Jr.?Roth IRA?Brokerage Account #***** By: Alfred M. Rankin, Jr.

Name:   /s/ Alfred M. Rankin, Jr.
        Alfred M. Rankin, Jr.

Date:    2-3-2020
Address: 5875 Landerbrook Drive, Suite 220
         Cleveland, Ohio 44124