Were the Dakota Gold (DC) CEO’s share sales discretionary or tax-related?

The Form 4 footnotes state the 13,448 common shares were sold at a weighted average price of $5.61 solely to satisfy tax withholding obligations from the option conversion. This characterizes the sale as a tax-related, routine event rather than a discretionary reduction of his equity exposure.

Dakota Gold (DC) CEO exercises 275K options, sells shares only to cover taxes

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Dakota Gold Corp. CEO Robert Quartermain exercised stock options and handled related tax obligations through share transactions. On April 13, 2026 he exercised 275,000 stock options at $4.76 per share, receiving an equal number of common shares as the options were converted.

To fund the exercise, 226,863 common shares were withheld by the company based on a $5.77 closing price, and 13,448 common shares were sold at a weighted average price of $5.61 solely to satisfy tax withholding obligations. After these routine compensation-related transactions, he directly owned 8,031,364 common shares.

Insider Trade Summary

Net Seller: 13,448 shares ($75,443)

Net Sell 4 txns

Insider QUARTERMAIN ROBERT

Role CHIEF EXECUTIVE OFFICER

Sold 13,448 shs ($75K)

Type	Security	Shares	Price	Value
Sale	COMMON STOCK	13,448	$5.61	$75K
Exercise	STOCK OPTIONS	275,000	$0.00	--
Exercise	COMMON STOCK	275,000	$4.76	$1.31M
Tax Withholding	COMMON STOCK	226,863	$5.77	$1.31M

Holdings After Transaction: COMMON STOCK — 8,031,364 shares (Direct); STOCK OPTIONS — 0 shares (Direct)

Footnotes (1)

Represents shares of common stock withheld by the Issuer solely for the purposes of paying the exercise price of the stock options in connection with the conversion of the stock options into shares of common stock upon settlement by the Issuer, based on a closing price of $5.77 per share of the common stock on April 13, 2026 on the NYSE American LLC. Represents shares of common stock sold at a weighted average sale price of $5.61 per share to satisfy tax withholding obligations in connection with the conversion of the stock options into shares of common stock upon settlement by the Issuer. These shares were sold in multiple transactions at prices ranging from $5.60 to $5.61. The reporting person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares of common stock sold at each separate price. The options vested one-third on each of May 17, 2021, May 17, 2022, and May 17, 2023.

Key Figures

Options exercised: 275,000 shares Exercise price: $4.76 per share Shares withheld: 226,863 shares +3 more

6 metrics

Options exercised 275,000 shares Stock options exercised at $4.76 per share on April 13, 2026

Exercise price $4.76 per share Conversion or exercise price of stock options

Shares withheld 226,863 shares Common shares withheld to pay exercise price at $5.77 close

Tax-related sale 13,448 shares at $5.61 Open-market sale solely to satisfy tax withholding obligations

Closing price reference $5.77 per share NYSE American closing price on April 13, 2026 used for withholding

Shares owned after 8,031,364 shares Direct common stock ownership following all reported transactions

Key Terms

stock options, weighted average sale price, tax withholding obligations, exercise price, +1 more

5 terms

stock options financial

"Represents shares of common stock withheld by the Issuer solely for the purposes of paying the exercise price of the stock options"

Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.

weighted average sale price financial

"Represents shares of common stock sold at a weighted average sale price of $5.61 per share"

tax withholding obligations financial

"sold at a weighted average sale price of $5.61 per share to satisfy tax withholding obligations in connection with the conversion"

exercise price financial

"withheld by the Issuer solely for the purposes of paying the exercise price of the stock options in connection with the conversion"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

NYSE American LLC market

"based on a closing price of $5.77 per share of the common stock on April 13, 2026 on the NYSE American LLC."

Form 4 Insider Transactions: What Each Field Means →

04/15/2026 - 04:05 PM

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
Estimated average burden
hours per response:			0.5

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 1

(Street)

LEAD

SOUTH DAKOTA

57754

(City)

(State)

(Zip)

UNITED STATES

(Country)

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)
	CHIEF EXECUTIVE OFFICER

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/13/2026

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

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

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
COMMON STOCK	04/13/2026		M		275,000	A	$4.76	8,271,675	D
COMMON STOCK⁽¹⁾	04/13/2026		F		226,863	D	$5.77	8,044,812	D
COMMON STOCK⁽²⁾	04/15/2026		S		13,448	D	$5.61	8,031,364	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
STOCK OPTIONS	$4.76	04/13/2026		M			275,000	05/17/2021⁽³⁾	05/17/2026	COMMON STOCK	275,000	$0	0	D

Explanation of Responses:

1. Represents shares of common stock withheld by the Issuer solely for the purposes of paying the exercise price of the stock options in connection with the conversion of the stock options into shares of common stock upon settlement by the Issuer, based on a closing price of $5.77 per share of the common stock on April 13, 2026 on the NYSE American LLC.

2. Represents shares of common stock sold at a weighted average sale price of $5.61 per share to satisfy tax withholding obligations in connection with the conversion of the stock options into shares of common stock upon settlement by the Issuer. These shares were sold in multiple transactions at prices ranging from $5.60 to $5.61. The reporting person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares of common stock sold at each separate price.

3. The options vested one-third on each of May 17, 2021, May 17, 2022, and May 17, 2023.

	/S/ SHAWN CAMPBELL, BY POWER OF ATTORNEY	04/15/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Dakota Gold (DC) CEO Robert Quartermain do in this Form 4 filing?

Robert Quartermain exercised 275,000 stock options into common shares and used a combination of share withholding and a small share sale to cover exercise and tax obligations. These steps are described as routine compensation-related transactions, leaving him with over 8.0 million common shares directly owned.

How many Dakota Gold (DC) stock options did the CEO exercise and at what price?

He exercised 275,000 stock options into common stock at an exercise price of $4.76 per share. The options related to grants that vested in thirds over three years, with the exercise converting the derivative position fully into common shares according to the disclosed terms.

How were the Dakota Gold (DC) option exercise costs and taxes paid?

The issuer withheld 226,863 common shares to pay the exercise price, using a $5.77 closing share price. In addition, 13,448 common shares were sold at a weighted average of $5.61 per share solely to satisfy tax withholding obligations tied to the option conversion into common stock.

How many Dakota Gold (DC) shares does the CEO own after these transactions?

Following the option exercise, share withholding, and tax-related sale, Robert Quartermain directly owned 8,031,364 shares of Dakota Gold common stock. This figure reflects his updated position after all transactions reported in the Form 4 and highlights that he maintains a substantial equity stake.

What happened to the Dakota Gold (DC) stock options after the exercise?

The 275,000 stock options were exercised and converted into an equal number of common shares, with the derivative position reduced to zero in this grant. The options had vested one-third each year on May 17 of 2021, 2022, and 2023, before this full exercise in April 2026.