Comstock (LODE) director granted 89,262 shares as equity pay

Rhea-AI Filing Summary

Comstock Inc. (LODE) director Mayaguez J. Salinas reported receiving a grant of common stock as equity compensation. On 01/05/2026, he acquired 89,262 shares of common stock at a stated price of $0, reflecting a share payment rather than a cash purchase. Following this transaction, he directly beneficially owned 89,706 common shares.

The shares were issued as payment for annual director services for the period from January 1, 2022 to March 31, 2026 under Comstock’s 2020 and 2022 Equity Incentive Plans. Salinas elected to receive all of his accrued compensation for these prior years’ services in common shares, and the filing notes that these services will be paid quarterly going forward.

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).

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^*

Salinas Mayaguez J

(Last) (First) (Middle)

117 AMERICAN FLAT ROAD

(Street)

VIRGINIA CITY NV 89440

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Comstock Inc. [ LODE ]

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)
01/05/2026

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	01/05/2026		A		89,262	A	$0(1)	89,706	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. This Common Stock payment was granted for annual director services for the period from January 1, 2022, to March 31, 2026, pursuant to the shareholder approved Comstock Inc. 2020 and 2022 Equity Incentive Plans, for services rendered. Mr. Salinas elected to take all of his accrued compensation for these previous year's services in common shares. These services will be paid quarterly going forward.

	/s/ Mayaguez J. Salinas	01/05/2026
	** 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).
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FAQ

What insider transaction did Comstock (LODE) report in this Form 4?

Comstock reported that director Mayaguez J. Salinas acquired 89,262 shares of common stock on 01/05/2026 as an equity payment for director services.

How many Comstock (LODE) shares does Mayaguez J. Salinas own after this transaction?

After the reported grant, Mayaguez J. Salinas directly beneficially owned 89,706 shares of Comstock common stock.

What was the price for the Comstock (LODE) shares reported in the Form 4?

The 89,262 shares of Comstock common stock were reported at a price of $0, indicating they were granted as compensation rather than bought for cash.

Why did Comstock grant 89,262 shares to director Mayaguez J. Salinas?

The filing states that the common stock payment was granted for annual director services for the period from January 1, 2022 to March 31, 2026 under the 2020 and 2022 Equity Incentive Plans, for services already rendered.

How will Comstock (LODE) pay this director’s services going forward?

The disclosure notes that these director services will be paid quarterly going forward, following the equity payment election for the prior years’ services.

Did Mayaguez J. Salinas elect stock instead of cash for his Comstock board compensation?

Yes. The filing states that Mr. Salinas elected to take all of his accrued compensation for the covered period in common shares of Comstock.