Augusta Gold Form 4 shows option cancellations tied to merger
Rhea-AI Filing Summary
Augusta Gold (AUGG) reported a Form 4 for a director reflecting option dispositions on 10/23/2025, triggered by the closing of its merger with AngloGold Ashanti (U.S.A.) Holdings Inc. The filing lists two director stock options: 150,000 options with a US‑reported exercise price of $0.80 (converted from C$1.11) expiring 04/16/2029, and 350,000 options with a US‑reported exercise price of $1.55 (converted from C$2.00) expiring 02/22/2026.
In connection with the merger, all outstanding options became unconditionally vested and were cancelled for a cash payment equal to the difference between the per‑share merger consideration of C$1.70 and the option’s exercise price, multiplied by the number of underlying common shares, less withholdings. Following these transactions, the filing shows 0 derivative securities beneficially owned. The form was signed by an attorney‑in‑fact for the reporting person.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Director Stock Option (Right to Buy) | 150,000 | $0.00 | -- |
| Disposition | Director Stock Option (Right to Buy) | 350,000 | $0.00 | -- |
Footnotes (1)
- 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. 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, 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.
