[Form 4] PERPETUA RESOURCES CORP. Insider Trading Activity

Rhea-AI Filing Summary

Mark E. Murchison, Chief Financial Officer of Perpetua Resources Corp. (PPTA), reported equity awards and an immediate acquisition on 10/06/2025. He was granted 12,000 restricted share units (RSUs) that vest in three equal installments of 4,000 RSUs on 10/06/2025, 10/01/2026, and 10/01/2027, and elected or received 4,000 common shares that vested immediately. Following the transactions, he beneficially owns 4,000 common shares and 12,000 RSU equivalents. The RSUs convert one-for-one into common shares (or cash in lieu) subject to the company plan administrator's approval.

Positive

• CFO received 12,000 RSUs, aligning management compensation with shareholders
• 4,000 RSUs vested immediately (converted/received as 4,000 common shares) increasing insider ownership
• Vesting schedule spans two additional tranches on 10/01/2026 and 10/01/2027, supporting retention

Negative

• None.

Insights

Corporate Compensation Analyst

RSU grant aligns CFO pay with shareholder equity and includes immediate vesting of a portion.

The 12,000 RSU award with a one-third immediate vesting tranche creates an immediate equity stake while preserving future retention through the remaining two tranches on 10/01/2026 and 10/01/2027. The instrument converts one-for-one into common shares or cash per the omnibus plan.

This structure balances retention and alignment: the immediate 4,000 vested RSUs increase current insider ownership, while the delayed tranches incentivize continued service over the next 10/01/2027. Monitor total insider holdings and any plan limits when assessing dilution over the next 12–24 months.

Securities Compliance Specialist

Filing is routine Section 16 reporting showing timely disclosure of grant and acquisition.

The Form 4 discloses both a subjectively elected conversion/receipt of 4,000 common shares and the grant of 12,000 RSUs on 10/06/2025. Reporting was executed by an attorney-in-fact and lists the reporting person as the CFO.

For governance review, confirm the administrator's election process for cash-in-lieu conversions and check future filings for any derivative exercises or share issuances to quantify dilution within the next 12–24 months.

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^*

Murchison Mark E

(Last) (First) (Middle)

405 S. 8TH STREET, STE 201

(Street)

BOISE ID 83702

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PERPETUA RESOURCES CORP. [ PPTA ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	(See remarks (3))

3. Date of Earliest Transaction (Month/Day/Year)
10/06/2025

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 Shares	10/06/2025		M		4,000	A	(1)	4,000	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
Restricted Share Units	(1)	10/06/2025		A		12,000		(2)	(2)	Common Shares	12,000	$0	12,000	D
Restricted Share Units	(1)	10/06/2025		M			4,000	(2)	(2)	Common Shares	4,000	$0	8,000	D

Explanation of Responses:

1. A restricted share unit ("RSU") entitles the holder to receive one Common Share (or cash equal to the value thereof) for each vested RSU, as elected by the reporting person subject to the approval of the administrator of the Issuer's Omnibus Equity Incentive Plan.

2. On October 6, 2025, the reporting person was granted 12,000 RSUs, which vest in three equal installments as follows: 4,000 on October 6, 2025, 4,000 on October 1, 2026, and 4,000 on October 1, 2027, subject to the terms and conditions of the Perpetua Resources Corp. Omnibus Equity Incentive Plan..

Remarks:

(3) Chief Financial Officer.

	/s/ Tanya Nelson, as attorney-in-fact for Mark Murchison	10/06/2025
	** 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 did Perpetua Resources (PPTA) CFO Mark Murchison receive on 10/06/2025?

He was granted 12,000 RSUs and acquired 4,000 common shares on 10/06/2025.

How do the RSUs granted to the PPTA CFO vest?

The 12,000 RSUs vest in three equal installments: 4,000 on 10/06/2025, 4,000 on 10/01/2026, and 4,000 on 10/01/2027.

Will each RSU convert into a common share for PPTA?

Yes. Each RSU entitles the holder to one common share or cash equal to its value, subject to the plan administrator's approval.

How many common shares does the CFO beneficially own after the reported transactions?

Following the transactions the reporting person beneficially owns 4,000 common shares and has rights to 12,000 RSUs convertible to shares.

Who filed the Form 4 for PPTA and in what capacity?

The Form 4 was signed by an attorney-in-fact, Tanya Nelson, on behalf of Mark Murchison, who is listed as the Chief Financial Officer.