[Form 4] Contango ORE, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Richard Shortz, a director of Contango ORE, Inc. (CTGO), reported selling 33,150 shares of the issuer's common stock on 08/18/2025 at a weighted-average price of $21.08 per share. After the sale, the filing shows Mr. Shortz beneficially owns 84,050 shares directly and 1,000 shares indirectly through the Shortz Family Trust. The sale was executed in multiple transactions at prices ranging from $21.00 to $21.83, and the reporting attorney-in-fact, Mike Clark, signed the Form 4 on behalf of Mr. Shortz.

Positive

• Transparent disclosure of the sale date, weighted-average price, and remaining ownership
• Footnote transparency offering to provide transaction-level price breakdowns on request
• Form filed by a director, ensuring insider activity is reported under Section 16

Negative

• Director sale of 33,150 shares could be interpreted by some investors as insider liquidity
• No information provided about purpose of sale in the filing (only transactional details)

Insights

Financial Analyst

TL;DR: A director sold a meaningful block of shares; disclosure is routine but noteworthy for tracking insider activity.

The Form 4 documents an open-market sale of 33,150 shares by Director Richard Shortz at a weighted-average price of $21.08 on 08/18/2025. This reduces his direct holdings to 84,050 shares while leaving 1,000 shares held indirectly. The filing includes a weighted-price range ($21.00–$21.83) and an undertaking to provide transaction-level detail on request. For investors, this is a clear, compliant disclosure of insider liquidity but contains no company operational or financial information.

Corporate Governance Expert

TL;DR: The disclosure meets Section 16 reporting requirements; sale appears procedural with full-footnote transparency.

The Form 4 is properly completed: it identifies the reporting person as a director, specifies the sale date and weighted-average price, and lists remaining direct and indirect beneficial ownership. The explanatory footnote clarifies multiple trade prices and offers to provide detailed breakouts on request, which enhances transparency. The filing was signed by an attorney-in-fact, consistent with authorized reporting practice. No governance changes or new arrangements are disclosed.

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

OMB Number:			3235-0287
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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^*

Shortz Richard

(Last) (First) (Middle)

516 2ND AVENUE, SUITE 401

(Street)

FAIRBANKS AK 99701

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Contango ORE, Inc. [ CTGO ]

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)
08/18/2025

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, par value $0.01	08/18/2025		S		33,150(1)	D	$21.08(1)	84,050	D
Common Stock, par value $0.01								1,000	I	The Shortz Family Trust

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 price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $21.00 to $21.83, inclusive. The reporting person undertakes to provide to Contango ORE, Inc., any security holder of Contango ORE, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (1) to this Form 4.

	/s/ Mike Clark as Attorney in Fact for Richard Shortz	08/18/2025
	** 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

What did Contango ORE (CTGO) director Richard Shortz report on Form 4?

He reported selling 33,150 shares on 08/18/2025 at a weighted-average price of $21.08, leaving 84,050 shares directly owned and 1,000 shares indirectly owned.

At what prices were the CTGO shares sold by Richard Shortz?

The filing states the shares were sold in multiple transactions at prices ranging from $21.00 to $21.83, with a weighted-average price of $21.08.

Who signed the Form 4 for Richard Shortz for CTGO?

The Form 4 was signed by /s/ Mike Clark as Attorney in Fact for Richard Shortz on 08/18/2025.

How many CTGO shares does the Shortz Family Trust own according to the filing?

The filing shows the Shortz Family Trust beneficially owns 1,000 shares (indirect ownership).

Does the Form 4 explain why the director sold the CTGO shares?

No. The filing provides transaction details and price ranges but does not state the purpose of the sale.