[Form 4] U S GLOBAL INVESTORS INC Insider Trading Activity

Rhea-AI Filing Summary

Frank E. Holmes, listed as CEO/CIO, director and a >10% owner of U S Global Investors Inc (GROW), reported a purchase of Class A common stock under the company's employee stock purchase plan. On 09/30/2025 he acquired 867 shares at $2.75 each, increasing his direct beneficial ownership to 293,889 shares. The filing also shows indirect holdings of 32,862 shares in an IRA and 221,656.77 shares in a 401(k). The form is signed on 10/01/2025 by Lisa Callicotte. The filing explicitly states the transaction was a restricted stock purchase under the employee stock purchase plan.

Insights

Securities Analyst

TL;DR: Insider purchased a small number of shares via ESPP, modestly increasing direct holdings; impact appears neutral.

The report shows a routine acquisition of 867 Class A shares at $2.75 under a restricted employee stock purchase plan. For a reporting person who already holds a substantial position (direct and indirect combined), this purchase appears to be a routine, compensatory or participation-related acquisition rather than a material shift in ownership. The filing provides clear post-transaction balances for direct and indirect holdings, which helps confirm total exposure but does not indicate any change in control or significant new stake.

Corporate Governance Expert

TL;DR: Filing documents a standard ESPP acquisition by a senior insider; disclosure aligns with Section 16 requirements.

The Form 4 properly identifies the reporting person's roles (CEO/CIO, director, >10% owner) and discloses the restricted stock purchase with transaction date and price. The inclusion of indirect holdings (IRA and 401(k)) provides transparency about aggregate beneficial ownership. There is no indication of unusual timing, related-party transfer, or departure from standard insider reporting protocols in the provided content.

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

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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).

1. Name and Address of Reporting Person^*

HOLMES FRANK E

(Last) (First) (Middle)

7900 CALLAGHAN ROAD

(Street)

SAN ANTONIO TX 78229

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
U S GLOBAL INVESTORS INC [ GROW ]

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

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

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
Class A Common Stock	09/30/2025	09/30/2025	J(1)		867	A	$2.75	293,889	D
Class A Common Stock								32,862	I	IRA
Class A Common Stock								221,656.77	I	401(k)

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. Restricted stock purchase under employee stock purchase plan.

	Lisa Callicotte	10/01/2025
	** 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).
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