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

Rhea-AI Filing Summary

Contango ORE, Inc. (CTGO) Form 4: Michael Aaron Clark, the company's Chief Financial Officer and Secretary, reported the sale of 2,822 shares of common stock on 08/18/2025 at a weighted-average price of $21.66 per share. After the transaction, Mr. Clark beneficially owns 59,970 shares. The filing explains the shares sold were previously restricted stock that vested on 08/18/2025 and were sold to cover tax obligations related to vesting. The reported sale prices ranged from $21.25 to $22.02 and the filer offers to provide a breakout of shares sold at each price upon request.

Positive

• Transparent disclosure of the sale date, amount, weighted-average price range ($21.25–$22.02), and reason for sale (tax withholding on vested restricted stock).
• Compliance with Section 16 reporting: Form 4 is filed and signed, and the reporting person offers to provide further per-price sale details on request.

Negative

• Insider sale of 2,822 shares by the CFO reduces his holdings to 59,970 shares; while explained as tax-related, insider sales can be viewed negatively by some investors.

Insights

Financial Analyst

TL;DR: Insider sale tied to tax withholding on vested restricted shares; ownership remains material at 59,970 shares, suggesting routine management disposition.

Michael Clark sold 2,822 shares upon vesting of restricted stock, generating proceeds at a weighted average of $21.66. The transaction was disclosed promptly and includes an explanation that the sale covered tax liabilities, which is a common practice and reduces the risk of unexpected dilution or trading concerns. The remaining beneficial ownership of 59,970 shares remains in place; absent further context on company share count or executive holdings, the trade appears administrative rather than indicative of changed company outlook.

Corporate Governance Expert

TL;DR: Disclosure is clear and compliant; sale resulted from vesting and tax withholding, a standard corporate governance practice.

The Form 4 provides required details including transaction date, number of shares sold, weighted-average price, and an explicit reason that shares were sold to cover taxes on vested restricted stock. The signer affirms willingness to provide per-price breakdowns, enhancing transparency. As an officer-level filing, this meets Section 16 reporting expectations and presents no immediate governance red flags beyond routine insider liquidity following vesting.

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^*

Clark Michael Aaron

(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)

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

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		2,822(1)	D	$21.66(1)	59,970	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 price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $21.25 to $22.02, inclusive. The reporting person sold these shares as they related to restricted stock that vested on August 18, 2025, which also covered tax owing related to the vesting of this restricted stock. 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/ Michael Clark	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 CTGO insider Michael Clark report on Form 4?

He reported selling 2,822 shares of Contango ORE common stock on 08/18/2025 at a weighted-average price of $21.66 per share.

Why were the shares sold by the CTGO officer?

The filing states the shares were restricted stock that vested on 08/18/2025 and were sold to cover tax obligations arising from the vesting.

How many CTGO shares does the reporting person own after the sale?

59,970 shares beneficially owned following the reported transaction.

What price range were the shares sold at according to the Form 4?

Sale prices ranged from $21.25 to $22.02; the Form 4 reports a weighted-average price of $21.66.

Is additional detail available about the per-transaction sale prices?

Yes. The reporting person states they will provide, upon request, full information on the number of shares sold at each separate price within the disclosed range.