GROW CFO Buys 344 Shares at $2.75 via ESPP — Insider Filing

Lisa Callicotte, CFO of U S Global Investors Inc (GROW), acquired 344 shares of Class A common stock on 09/30/2025 at $2.75 per share under a restricted stock purchase through the company's employee stock purchase plan.

Rhea-AI Filing Summary

Lisa Callicotte, CFO of U S Global Investors Inc (GROW), acquired 344 shares of Class A common stock on 09/30/2025 at $2.75 per share under a restricted stock purchase through the company's employee stock purchase plan. After the transaction she beneficially owned 35,456 shares. The filing reports this as an internal compensation-related purchase rather than an open-market trade, indicating participation in the company’s employee equity program by a senior executive.

Positive

• Insider purchase under the employee stock purchase plan by the CFO, indicating alignment with shareholders
• Transaction involved acquisition (344 shares), not a sale, which is typically viewed favorably

Negative

• Purchase size is immaterial relative to total beneficial ownership (344 shares vs 35,456 shares)
• Transaction appears routine compensation-related and is unlikely to be a material signal to investors

Insights

Corporate Governance Expert

TL;DR: Insider participation in an employee purchase plan shows alignment but the purchase size is immaterial to ownership stake.

The reported acquisition is a restricted stock purchase under the company ESPP, which typically reflects routine compensation mechanics rather than a market-driven signal. As CFO, Callicotte’s participation aligns her interests with shareholders, but the 344-share purchase is small relative to her total holdings of 35,456 shares, so it is unlikely to change governance dynamics or trigger market attention.

Securities Analyst

TL;DR: The transaction is a minor insider buy via ESPP; it carries limited market impact but is a modest positive indicator of executive alignment.

From a securities perspective, the transaction type (restricted stock purchase) and price ($2.75) are consistent with employee compensation programs. The absolute size of the acquisition is small, so it should not materially affect float or valuation. Investors may note the purchase as a positive behavioral signal but should not infer a material change in insider conviction from this single, routine transaction.

Insider Trade Summary

Other: 344 shares

Other 1 txn

Insider Callicotte Lisa

Role CFO

Type	Security	Shares	Price	Value
Other	Class A Common Stock	344	$2.75	$946.00

Holdings After Transaction: Class A Common Stock — 35,456 shares (Direct)

Footnotes (1)

1. F1. Restricted stock purchase under employee stock purchase plan.

FAQ

What transaction did Lisa Callicotte (GROW) report?

The CFO reported a restricted stock purchase of 344 Class A shares under the company’s employee stock purchase plan.

On what date was the GROW transaction executed and at what price?

The transaction occurred on 09/30/2025 at a price of $2.75 per share.

How many GROW shares does Lisa Callicotte beneficially own after the reported purchase?

Following the transaction, she beneficially owned 35,456 shares of Class A common stock.

What is the nature of the GROW transaction—market trade or company plan?

This was a restricted stock purchase under the employee stock purchase plan, not an open-market trade.

Does this Form 4 transaction by the CFO materially affect GROW’s share structure?

No; the 344-share purchase is small and is not material to the company’s overall share count or ownership structure.

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

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Accepted by SEC EDGAR 10/01/2025 - 01:17 PM Learn about SEC filing dates

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).

1. Name and Address of Reporting Person^*

Callicotte Lisa

(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)

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

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)		344	A	$2.75	35,456	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)
				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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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