[Form 4] GOLD RESOURCE CORP Insider Trading Activity

Rhea-AI Filing Summary

Lila A. Murphy, a director of Gold Resource Corp (GORO), received 9,672 deferred stock units (DSUs) on 09/30/2025. Each DSU represents the right to one share of common stock or cash equal to a share's value at redemption. The DSUs vest immediately but are redeemable at the earlier of the reporting person's termination of service or ten years after grant. The disclosed per-share value for the award is $0.7593, and the reporter holds 9,672 DSUs directly after the grant.

This transaction is compensation-focused rather than a market sale or purchase and increases the reporting person's deferred equity stake while postponing actual share issuance or cash settlement until redemption.

Positive

• 9,672 DSUs were granted and vest immediately, aligning director pay with long-term shareholder value
• DSU structure defers settlement until termination or ten years, preserving current share count in the near term

Negative

• Potential dilution of 9,672 shares if DSUs are settled in common stock at redemption
• Immediate vesting creates a non-forfeitable obligation for the company to deliver shares or cash for 9,672 units

Insights

Corporate Governance Expert

Director received immediately-vested deferred compensation, aligning pay with long-term ownership.

The immediate vesting of 9,672 DSUs converts director pay into a future equity or cash entitlement, which ties compensation to company value without issuing shares today. This structure preserves current share count until redemption while signaling retention or continued service expectations.

Key dependencies include the method of settlement (stock versus cash) and timing of redemption; if settled in stock, dilution occurs when redeemed, likely within 10 years or upon service termination.

Equity Compensation Specialist

Deferred stock units act like awarded future shares valued at $0.7593 each; payout timing determines investor impact.

DSUs grant the right to one share or cash equal to share value at redemption and are recorded as a liability or equity reserve until settled. Immediate vesting makes the award non-forfeitable, creating a sure future obligation for the company to deliver shares or cash for 9,672 units.

Investors should note the maximum settlement window of ten years; if settled in stock, expect issuance of up to 9,672 shares at redemption, which is the concretely disclosed potential dilution to monitor within that timeframe.

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^*

MURPHY LILA A

(Last) (First) (Middle)

7900 E. UNION AVE, SUITE 320

(Street)

DENVER CO 80237

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
GOLD RESOURCE CORP [ GORO ]

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)
09/30/2025

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
DSU	(1)	09/30/2025		A		9,672		(2)	(2)	common stock	9,672	$0.7593	9,672	D

Explanation of Responses:

1. Each deferred stock unit ("DSU") represents the right to receive one share of common stock or cash equal to the value of one share of common stock as of the Redemption Date.

2. The deferred stock units vest immediately, meaning they become un-forfeitable at the time of grant but are redeemable at the earlier of the termination of the Reporting Person's service to the Issuer or ten years from the grant date.

	/s/ Chet Holyoak as attorney-in- fact for Lila Murphy	10/06/2025
	** 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 Gold Resource Corp (GORO) report in this Form 4?

A director, Lila A. Murphy, was granted 9,672 deferred stock units (DSUs) on 09/30/2025 that vest immediately and are redeemable for one share each or cash.

What is the per-unit value disclosed for the DSUs?

The DSUs were assigned a per-unit value of $0.7593 in the filing.

When can the DSUs be redeemed?

DSUs are redeemable at the earlier of the director's termination of service or ten years after the grant date.

How many shares could be issued if DSUs are settled in stock?

Up to 9,672 shares could be issued upon DSU redemption if the company elects stock settlement.

Does the filing show the DSUs were sold or cashed out?

No; the filing shows a grant of DSUs (deferred compensation) rather than a sale or cash-out transaction.