Idaho Strategic Resources CEO Converts 3,000 Options Into Shares

Rhea-AI Filing Summary

John Swallow, President & CEO and Director of Idaho Strategic Resources, Inc. (IDR), exercised 3,000 stock options on 08/28/2025 at an exercise price of $5.77 per share. The options were granted September 6, 2022 under the company’s 2014 Equity Incentive Plan and were exercisable from 09/06/2022 with an expiration of 09/05/2025. After the exercise, Mr. Swallow directly beneficially owned 783,248 shares and held 23,000 stock options remaining. The Form 4, signed 08/29/2025, reports the transaction as a direct acquisition by the reporting person.

Positive

• Exercise of 3,000 options converted derivatives into common stock, increasing direct share ownership
• Reporting person retains substantial direct ownership with 783,248 shares after the transaction

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine option exercise by a senior insider, resulting in a modest increase in common shares and reduced outstanding options.

This Form 4 documents a straightforward exercise of 3,000 options at $5.77, exercised one week before the options' stated expiration window. The exercise converted derivative holdings into common shares, increasing direct share count to 783,248 while leaving 23,000 options outstanding. There is no indication of a sale or market disposition of the shares, and no new grants or cashless exercises are reported. For investors, this is a routine executive liquidity/event with limited immediate informational impact beyond ownership disclosure.

Corporate Governance Expert

TL;DR: Insider exercise is a common equity plan action that preserves reporting transparency; not a governance red flag.

The filing clearly identifies the reporting person as both President & CEO and a director, confirms the exercise source as the 2014 Equity Incentive Plan, and supplies dates and quantities. Disclosure is complete and timely per Section 16 requirements. The remaining option balance (23,000) and large direct ownership (783,248) are relevant for assessing alignment of management with shareholders but do not, by themselves, imply any governance concern.

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

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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^*

Swallow John

(Last) (First) (Middle)

201 N. THIRD 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)
08/28/2025

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
Common Stock	08/28/2025		M		3,000(1)	A	$5.77	783,248	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	$5.77	08/28/2025	08/28/2025	M			3,000	09/06/2022	09/05/2025	Common Sotck	3,000(1)	$0	23,000	D

Explanation of Responses:

1. Reporting person exercised 3,000 stock options at an exercise price of $5.77 per share, granted on September 6, 2022 persuant to the Issuer's 2014 Equity Incentive Plan

	/s/ John Swallow	08/29/2025
	** 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 transaction did John Swallow report on Form 4 for IDR?

He exercised 3,000 stock options on 08/28/2025 at an exercise price of $5.77 per share.

How many shares did John Swallow beneficially own after the reported transaction?

After the exercise he directly owned 783,248 shares of Idaho Strategic Resources, Inc.

How many stock options does the reporting person have remaining after the exercise?

The Form 4 reports 23,000 stock options beneficially owned following the transaction.

When were the exercised options originally granted and under what plan?

The options were granted on September 6, 2022 under the company’s 2014 Equity Incentive Plan.

Was the transaction reported as direct or indirect ownership?

The Form 4 lists the ownership form as Direct (D) for both the exercised shares and remaining options.