Golden Minerals Board Member Strengthens Position with Major Stock Award

Rhea-AI Filing Summary

Jeffrey G. Clevenger, Director of Golden Minerals (AUMN), received a significant equity grant on June 24, 2025. The transaction involved 175,000 restricted stock units (RSUs) awarded under the company's Amended and Restated 2023 Equity Incentive Plan at $0 cost.

Following this transaction, Clevenger's total beneficial ownership consists of:

• 175,000 newly awarded RSUs
• 133,600 previously granted RSUs
• 22,508 shares of common stock

The total beneficial ownership following the transaction amounts to 331,108 units, all held directly. This grant represents a significant increase in Clevenger's equity stake in the company and aligns with typical director compensation practices through equity-based incentives.

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

OMB APPROVAL

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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^*

Clevenger Jeffrey G

(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	331,108(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, 133,600 restricted stock units previously reported in Table II, and 22,508 shares of common stock.

	/s/ Jeffrey G. Clevenger	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).
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 Number.

FAQ

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

Jeffrey Clevenger 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 Jeffrey Clevenger's total beneficial ownership in AUMN after the June 2025 RSU grant?

Following the transaction, Jeffrey Clevenger beneficially owns a total of 331,108 shares, which includes the 175,000 newly awarded RSUs, 133,600 previously reported RSUs, and 22,508 shares of common stock.

What was the purchase price of AUMN RSUs granted to Clevenger in June 2025?

The restricted stock units were granted at $0 cost to Jeffrey Clevenger, as shown in the transaction price column of Table I in the Form 4 filing.

What position does Jeffrey Clevenger hold at AUMN according to the Form 4?

According to the Form 4 filing, Jeffrey Clevenger serves as a Director of Golden Minerals Company (AUMN), as indicated by the 'X' mark in the Director box under Section 5 of the form.