AUGG insider disposes 70,000 shares; options cashed at merger
Rhea-AI Filing Summary
Augusta Gold (AUGG) reported an insider Form 4 tied to the closing of its merger on October 23, 2025. The officer listed as General Counsel disclosed the disposition of 70,000 common shares, with the merger consideration set at C$1.70 per share.
The filing also notes two employee stock option grants—250,000 options with a reported exercise price of $0.80 and 150,000 options at $1.55. In connection with the merger, all outstanding options vested and were cancelled for cash equal to the difference between C$1.70 and the applicable exercise price, multiplied by the number of underlying shares, less withholdings.
Positive
- None.
Negative
- None.
Insights
Form 4 reflects merger close; shares and options cashed.
This Form 4 documents insider transactions resulting from the merger’s completion on October 23, 2025. Common shares were disposed at the stated merger consideration of C$1.70 per share. Two employee stock option awards (250,000 and 150,000) are listed with reported exercise prices of $0.80 and $1.55, respectively.
Per the filing, all outstanding options vested at closing and were cancelled for a cash payment equal to the per‑share consideration minus the exercise price, multiplied by the underlying shares, less withholdings. This is an administrative reflection of the deal mechanics rather than a standalone operating event.
The filing confirms the transaction terms and insider treatment under the merger agreement. Actual portfolio impact depends on the completed acquisition; this disclosure primarily records post‑closing equity disposition and option cancellation mechanics.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Employee Stock Option (Right to Buy) | 250,000 | $0.00 | -- |
| Disposition | Employee Stock Option (Right to Buy) | 150,000 | $0.00 | -- |
| Disposition | Common Shares | 70,000 | $0.00 | -- |
Footnotes (1)
- Disposed of pursuant to the Agreement and Plan of Merger, dated as of July 15, 2025 (as amended from time to time, the "Merger Agreement") by and among the Issuer, AngloGold Ashanti (U.S.A.) Holdings Inc. ("Parent"), Exploration Inc., ("Merger Sub"), and joined by AngloGold Ashanti Holdings plc for the limited purposes specified in the Merger Agreement, which was consummated on October 23, 2025, and pursuant to which Parent acquired all of the outstanding common shares of the Issuer (other than those owned by Parent and its affiliates) in exchange for cash consideration of C$1.70 per share (the "Merger"). As previously reported, exercise price reported above was converted from the Canadian exercise price of C$1.11 using an exchange rate of C$1.3821=US$1.00. As previously reported, the options were granted on April 16, 2024, and vest as follows: One-third on April 16, 2025; one-third on April 16, 2026; and one-third on April 16, 2027. In connection with the Merger, all outstanding options to purchase common shares of the issuer as of immediately prior to the effective time of the Merger, were deemed unconditionally vested and exercisable, and subsequently cancelled in exchange for cash payment equal to the difference between the per share consideration of C$1.70 and the per share exercise price of such option multiplied by the number of common shares issuable pursuant to such option, less applicable withholdings. As previously reported, exercise price reported above was converted from the Canadian exercise price of C$2.00 using an exchange rate of C$1.2934=US$1.00. As previously reported, the options were granted on February 22, 2021 and vest as follows: One-third on February 22, 2022; one-third on February 22, 2023; and one-third on February 22, 2024.
