[Form 4] Dakota Gold Corp. Insider Trading Activity

Rhea-AI Filing Summary

Robert Quartermain, CEO and director of Dakota Gold Corp. (DC), was granted 325,000 stock option awards on 09/02/2025. The options have an exercise price of $4.17 per share, a ten-year term expiring 09/02/2030, and become exercisable in three equal tranches starting 09/02/2026 with subsequent vesting on 09/02/2027 and 09/02/2028. Following the grant, Mr. Quartermain directly beneficially owns 325,000 option shares. The Form 4 was signed by an authorized representative on 09/03/2025.

Positive

• CEO alignment: Granting 325,000 options ties executive compensation to future stock performance
• Time-based vesting: Options vest in three equal tranches over three years, supporting retention

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: CEO received a standard long-term, time‑based option grant aligning leadership incentives with shareholder value over four years.

The 325,000 options at $4.17 with a ten‑year term and three-year staggered time‑based vesting is a conventional executive compensation structure designed to retain management and link pay to future share performance. The grant vests starting one year after grant and completes over three years, encouraging multi‑year tenure. There is no indication of accelerated vesting, cash exercise amendments, or related party purchasers in this filing. Impact appears routine absent additional context on total outstanding shares or recent grants.

Securities Analyst

TL;DR: The award is material to insider ownership but provides limited immediate market impact without further context on dilution.

The Form 4 discloses direct beneficial ownership of 325,000 options by the CEO. While meaningful as an insider grant, the filing does not disclose percentage ownership relative to outstanding shares or prior holdings, so potential dilution and relative size versus total equity cannot be assessed from this document alone. No sales or purchases of common stock were reported; this is an issuance of derivative securities to management.

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^*

QUARTERMAIN ROBERT

(Last) (First) (Middle)

C/O DAKOTA GOLD CORP.

106 GLENDALE DRIVE, SUITE A

(Street)

LEAD SD 57754

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Dakota Gold Corp. [ DC ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/02/2025

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

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
STOCK OPTIONS	$4.17	09/02/2025		A		325,000		09/02/2026(1)	09/02/2030	COMMON STOCK	325,000	$0	325,000	D

Explanation of Responses:

1. The options are scheduled to vest in three equal tranches on September 2, 2026, September 2, 2027 and September 2, 2028.

Remarks:

The options are scheduled to vest in three equal tranches on September 2, 2026, September 2, 2027 and September 2, 2028.

	/S/ SHAWN CAMPBELL, BY POWER OF ATTORNEY	09/03/2025
	** 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 Dakota Gold Corp. (DC) disclose in the Form 4 filed for Robert Quartermain?

The Form 4 reports a grant of 325,000 stock options to CEO Robert Quartermain on 09/02/2025 with an exercise price of $4.17 and expiration 09/02/2030.

When do the options granted to DC's CEO vest?

The options vest in three equal tranches on 09/02/2026, 09/02/2027, and 09/02/2028.

How many option shares does Robert Quartermain beneficially own after the reported transaction?

Following the reported grant, Mr. Quartermain beneficially owns 325,000 option shares as reported on the Form 4.

What is the exercise price and term of the options reported on DC's Form 4?

The options have an exercise price of $4.17 per share and a term expiring on 09/02/2030.

Was this Form 4 filed jointly or by one reporting person?

The Form 4 indicates it was filed by one reporting person (the CEO/director).