Golden Minerals Boosts Director Stakes with Major Stock Award Package

Rhea-AI Filing Summary

Golden Minerals Director Deborah J. Friedman received a significant equity grant on June 24, 2025, consisting of 175,000 restricted stock units (RSUs) under the company's Amended and Restated 2023 Equity Incentive Plan. The RSUs were granted at $0 exercise price.

Following this transaction, Friedman's total beneficial ownership increased to 283,000 units, which includes:

• 175,000 newly awarded RSUs
• 108,000 previously granted RSUs

This Form 4 filing, submitted on June 26, 2025, reflects direct ownership of the securities. The grant suggests continued alignment of director interests with shareholders and represents a significant component of director compensation.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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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 for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Friedman Deborah J

(Last) (First) (Middle)

1312 17TH STREET, UNIT 2136

(Street)

DENVER CO 80202

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Golden Minerals Co [ AUMN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/24/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

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

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction 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
Common Stock	06/24/2025		A		175,000	A	$0	283,000(1)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. 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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The reported transaction involves the reporting person's receipt of a grant of 175,000 restricted stock units under Golden Minerals Company's Amended and Restated 2023 Equity Incentive Plan. The reporting person has reported prior awards of restricted stock units in Table II of Form 4. The total reported in Column 5 includes the 175,000 newly awarded restricted stock units and 108,000 restricted stock units previously reported in Table II.

	/s/ Deborah J. Friedman	06/26/2025
	** Signature of Reporting Person	Date
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).
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FAQ

How many restricted stock units (RSUs) did AUMN director Deborah Friedman receive on June 24, 2025?

According to the Form 4 filing, Deborah Friedman received a grant of 175,000 restricted stock units on June 24, 2025, under Golden Minerals Company's Amended and Restated 2023 Equity Incentive Plan.

What is the total number of AUMN shares beneficially owned by Deborah Friedman after the June 2025 RSU grant?

Following the reported transaction, Deborah Friedman beneficially owned a total of 283,000 shares, which includes the 175,000 newly awarded restricted stock units and 108,000 restricted stock units previously reported.

What was the purchase price of AUMN RSUs granted to Deborah Friedman?

The restricted stock units were granted at $0 cost to Deborah Friedman, as shown in the 'Price' column of Table I in the Form 4 filing.

What is Deborah Friedman's role at AUMN according to the Form 4?

According to the Form 4 filing, Deborah Friedman serves as a Director of Golden Minerals Co (AUMN), as indicated by the 'X' mark under the Director category in Section 5 of the form.