Were Kevin Kruger’s DRD share sales made under a Rule 10b5-1 trading plan?

The Form 4 indicates that the Rule 10b5-1 checkbox is not affirmed, and the footnotes do not describe any Rule 10b5-1 or pre-arranged trading plan, so the filing does not report these sales as being made under a Rule 10b5-1 plan.

DRDGOLD exec sells 7,561 shares at $2.75

Q: What insider transactions did DRD executive Kevin Kruger report in this Form 4 for DRD?

Kevin Kruger reported 16,801 Deferred Shares vesting and settling into Ordinary Shares on August 13, 2026, and a pooled sale of 7,561 Ordinary Shares on August 31 and September 1, 2026, with 9,240 Ordinary Shares retained in his own name.

Q: At what price were the DRD Ordinary Shares sold in Kevin Kruger’s Form 4 filing?

The Form 4 states an average sale price of $2.7545 per Ordinary Share, converted from ZAR 44.4764 using the South African Reserve Bank exchange rate in effect on the transaction date for the pooled sale on August 31 and September 1, 2026.

Q: How many DRD Deferred Shares vested for Kevin Kruger according to this Form 4?

On August 13, 2026, 16,801 Deferred Shares previously awarded to Kevin Kruger under DRDGOLD’s Single Incentive Plan vested and were settled on a one-for-one basis into 16,801 Ordinary Shares for no consideration, as disclosed in the Form 4 footnotes.

Q: What portion of the vested DRD Ordinary Shares did Kevin Kruger retain versus sell?

From the 16,801 Ordinary Shares received upon vesting of Deferred Shares, a pooled sale disposed of 7,561 Ordinary Shares, while the remaining 9,240 Ordinary Shares were transferred to and retained in Kevin Kruger’s own name, according to the Form 4 footnotes.

DRDGOLD’s Head of Technical Services exercised 16,801 deferred share awards and sold 7,561 resulting Ordinary Shares in a pooled sale.

Filing Impact

(Neutral)

Filing Sentiment

(Negative)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Form Type

Rhea-AI Filing Summary

DRDGOLD LTD (DRD) reports that Kevin Kruger, Head of Technical Services, had 16,801 Deferred Shares vest on August 13, 2026 and settle into an equal number of Ordinary Shares for no consideration. In a pooled sale on August 31 and September 1, 2026, 7,561 of these Ordinary Shares were sold at an average price of $2.7545 per share, with 9,240 Ordinary Shares transferred to and retained in his name. Following these transactions, Kruger holds 143,927 Deferred Shares directly. No Rule 10b5-1 trading plan is reported.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 3 txns

Insider Kruger Kevin

Role Head of Technical Services

Sold 7,561 shs ($21K)

Approx. gross sale proceeds $21K

Approx. exercise cost $0.00

Type	Security	Shares	Price	Value
Sale	Ordinary Shares ^{F2, F3}	7,561	$2.7545	$21K
Exercise	Deferred Shares ^{F1, F4}	16,801	$0.00	$0.00
Exercise	Ordinary Shares ^F1	16,801	$0.00	$0.00

Holdings After Transaction: Deferred Shares — 143,927 contracts (Direct); Ordinary Shares — 9,240 shares (Direct)

Footnotes (4)

F1. On August 13, 2026, 16,801 deferred shares of DRDGOLD Limited (the "Company") previously awarded to the Reporting Person under the Company's Single Incentive Plan (the "Deferred Shares") vested and were settled on a one-for-one basis in Ordinary Shares for no consideration.
F2. Represents 7,561 Ordinary Shares sold on behalf of the Reporting Person as part of a pooled sale conducted on August 31 and September 1, 2026, following the vesting and settlement of 16,801 Deferred Shares described in footnote 1. The remaining 9,240 Ordinary Shares were transferred to and retained in the Reporting Person's own name
F3. The underlying transaction was denominated in South African rand ("ZAR"). For the purposes of this table, the price reported in United States dollars has been converted from ZAR using the South African Reserve Bank exchange rate in effect on the transaction date. The average sale price was ZAR 44.4764 per Ordinary Share.
F4. The amount reported in Table II, Column 9 reflects the subsequent acquisition of Deferred Shares previously reported on the Reporting Person's Form 4 filed on August 27, 2026 and represents the Reporting Person's current holdings of Deferred Shares.

Key Figures

Ordinary Shares sold: 7,561 shares Average sale price: $2.7545 per share Deferred Shares vested: 16,801 shares +3 more

6 metrics

Ordinary Shares sold 7,561 shares Pooled sale on August 31 and September 1, 2026

Average sale price $2.7545 per share Ordinary Shares sold in pooled sale converted from ZAR

Deferred Shares vested 16,801 shares Deferred Shares vested and settled into Ordinary Shares on August 13, 2026

Ordinary Shares retained 9,240 shares Portion of vested Ordinary Shares transferred to and retained by reporting person

Deferred Shares holdings after transaction 143,927 shares Reporting person’s current Deferred Shares position after the reported events

Average sale price in ZAR ZAR 44.4764 per share Local-currency price for the pooled sale of Ordinary Shares

Key Terms

Deferred Shares, Single Incentive Plan, pooled sale, South African Reserve Bank exchange rate

4 terms

Deferred Shares financial

"16,801 deferred shares of DRDGOLD Limited (the "Company") previously awarded"

Deferred shares are a class of stock whose economic benefits or certain shareholder rights are delayed or paid later than ordinary shares—for example, dividends may be paid only after other shareholders receive theirs, or voting or redemption rights may be postponed. For investors, that timing difference matters because deferred shares typically offer lower near-term income and different risk, affecting expected returns, priority in payouts, and the share’s market value; think of them like a delayed paycheck compared with a regular salary.

Single Incentive Plan financial

"previously awarded to the Reporting Person under the Company's Single Incentive Plan"

pooled sale financial

"sold on behalf of the Reporting Person as part of a pooled sale conducted"

South African Reserve Bank exchange rate financial

"using the South African Reserve Bank exchange rate in effect on the transaction date"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did DRD executive Kevin Kruger report in this Form 4 for DRD?

Kevin Kruger reported 16,801 Deferred Shares vesting and settling into Ordinary Shares on August 13, 2026, and a pooled sale of 7,561 Ordinary Shares on August 31 and September 1, 2026, with 9,240 Ordinary Shares retained in his own name.

At what price were the DRD Ordinary Shares sold in Kevin Kruger’s Form 4 filing?

The Form 4 states an average sale price of $2.7545 per Ordinary Share, converted from ZAR 44.4764 using the South African Reserve Bank exchange rate in effect on the transaction date for the pooled sale on August 31 and September 1, 2026.

How many DRD Deferred Shares vested for Kevin Kruger according to this Form 4?

On August 13, 2026, 16,801 Deferred Shares previously awarded to Kevin Kruger under DRDGOLD’s Single Incentive Plan vested and were settled on a one-for-one basis into 16,801 Ordinary Shares for no consideration, as disclosed in the Form 4 footnotes.

How many DRD Deferred Shares does Kevin Kruger hold after these reported transactions?

After the reported transactions, the Form 4 states that Kevin Kruger’s holdings in Deferred Shares are 143,927 Deferred Shares, as reflected in Table II, Column 9, which represents his current Deferred Share position under the company’s Single Incentive Plan.

What portion of the vested DRD Ordinary Shares did Kevin Kruger retain versus sell?

From the 16,801 Ordinary Shares received upon vesting of Deferred Shares, a pooled sale disposed of 7,561 Ordinary Shares, while the remaining 9,240 Ordinary Shares were transferred to and retained in Kevin Kruger’s own name, according to the Form 4 footnotes.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/03/2026 - 05:50 PM EDT Accepted by SEC EDGAR 09/03/2026 - 04:41 PM EDT

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^*

Kruger Kevin

(Last)

(First)

(Middle)

CYCAD HOUSE, BUILDING 17, GROUND FLOOR

CNR 14TH AVENUE AND HENDRIK POTGIETER RD

(Street)

WELTEVREDEN PARK

1709

(City)

(State)

(Zip)

SOUTH AFRICA

(Country)

2. Issuer Name and Ticker or Trading Symbol
DRDGOLD LTD [ DRD ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Head of Technical Services

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/13/2026

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)
Ordinary Shares	08/13/2026		M		16,801⁽¹⁾	A	$0	16,801	D
Ordinary Shares	09/01/2026		S		7,561⁽²⁾	D	$2.7545⁽³⁾	9,240	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)
Deferred Shares	$0	08/13/2026		M			16,801⁽¹⁾	⁽¹⁾	⁽¹⁾	Ordinary Shares	16,801	$0	143,927⁽⁴⁾	D

Explanation of Responses:

1. On August 13, 2026, 16,801 deferred shares of DRDGOLD Limited (the "Company") previously awarded to the Reporting Person under the Company's Single Incentive Plan (the "Deferred Shares") vested and were settled on a one-for-one basis in Ordinary Shares for no consideration.

2. Represents 7,561 Ordinary Shares sold on behalf of the Reporting Person as part of a pooled sale conducted on August 31 and September 1, 2026, following the vesting and settlement of 16,801 Deferred Shares described in footnote 1. The remaining 9,240 Ordinary Shares were transferred to and retained in the Reporting Person's own name

3. The underlying transaction was denominated in South African rand ("ZAR"). For the purposes of this table, the price reported in United States dollars has been converted from ZAR using the South African Reserve Bank exchange rate in effect on the transaction date. The average sale price was ZAR 44.4764 per Ordinary Share.

4. The amount reported in Table II, Column 9 reflects the subsequent acquisition of Deferred Shares previously reported on the Reporting Person's Form 4 filed on August 27, 2026 and represents the Reporting Person's current holdings of Deferred Shares.

Remarks:

	/s/ Kevin Kruger	09/03/2026
	** 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