Idaho Strategic Resources (IDR) CEO reports cashless stock option exercise

Rhea-AI Filing Summary

Idaho Strategic Resources President & CEO John Swallow reported a cashless exercise of stock options in company common stock. On January 7, 2026, he exercised options for 11,500 shares at an exercise price of $11.50 per share under the company’s 2023 Equity Incentive Plan. To cover the cost of the exercise, 2,688 shares were effectively retired at a market price of $49.20 per share, leaving him with 654,590 common shares held directly. Following these transactions, he also held 11,500 stock options directly, split between two option positions that each relate to 5,750 underlying shares.

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^*

Swallow John

(Last) (First) (Middle)

201 N 3RD ST.

(Street)

COEUR D'ALENE ID 83814

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Idaho Strategic Resources, Inc. [ IDR ]

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President & CEO

3. Date of Earliest Transaction (Month/Day/Year)
01/07/2026

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
Common Stock	01/07/2026	01/07/2026	M		11,500(1)	A	$11.5	657,278	D
Common Stock	01/07/2026	01/07/2026	F		2,688(1)	D	$49.2	654,590	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
Stock Options	$11.5	01/07/2026	01/07/2026	M			5,750(1)	06/30/2025	01/17/2028	Common Stock	5,750	$0	17,250	D
Stock Options	$11.5	01/07/2026	01/07/2026	M			5,750(1)	12/31/2025	01/17/2028	Common Stock	5,750	$0	11,500	D

Explanation of Responses:

1. Reflects 2,688 stock options retired by issuer at the market price of $49.20 per share less an exercise price of $11.50 per share to fund the cashless exercise of 11,500 stock option owned by the Reporting Person pusuant to the Issuer's 2023 Equity Incentive Plan.

Remarks:

The transactions reported above in Table I reflect the cashless exercise of stock options. The cashless exercise for each set of options is reported in two lines. The first line of the cashless exercise transaction is coded M in column 3 of Table I and reports in column 4 the number of shares issuable upon exercise of the options had cash been paid to exercise the options, together with the exercise price with code A for acquired. The line coded F in column 3 of Table I relates to the same cashless exercise on the preceding line and reports in column 4 the number of shares deducted from the total number of shares issuable to pay for the cashless exercise of such options with code D for disposed. The transactions reported in Table II above, reflect the disposition of the same stock options whose cashless exercise is disclosed in Table I above.

	/s/ John Swallow	01/08/2026
	** 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.

FAQ

What insider transaction did Idaho Strategic Resources (IDR) report for John Swallow?

Idaho Strategic Resources reported that President & CEO John Swallow completed a cashless exercise of stock options for 11,500 shares of common stock on January 7, 2026.

How many Idaho Strategic Resources (IDR) shares were used to pay for the option exercise?

The filing states that 2,688 shares were effectively retired at a market price of $49.20 per share, offsetting the exercise price of $11.50 per share for the 11,500 options exercised.

How many Idaho Strategic Resources (IDR) shares does John Swallow own after this transaction?

After the reported transactions, John Swallow directly beneficially owned 654,590 shares of Idaho Strategic Resources common stock.

How many stock options does John Swallow hold in Idaho Strategic Resources after the trade?

Following the cashless exercise, he directly held 11,500 stock options, represented by two option positions each relating to 5,750 underlying shares.

Was the Idaho Strategic Resources (IDR) option exercise part of the company’s equity plan?

Yes. The footnote explains that the transaction reflects a cashless exercise of 11,500 stock options owned by the reporting person pursuant to the Issuer's 2023 Equity Incentive Plan.

What transaction codes appear in John Swallow’s Idaho Strategic Resources Form 4?

The non-derivative common stock entries use codes M (exercise of derivative securities) and F (payment of exercise price or tax with shares), while the derivative option entries use code M for the option exercises.