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  4. [Form 4] PERPETUA RESOURCES CORP. Insider Trading Activity

Perpetua Resources (PPTA) director exercises options, sells stock

Filing Impact
(Moderate)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Perpetua Resources Corp. director Jeffrey L. Malmen reported a series of equity transactions in the company’s common shares. On January 5, 2026, he exercised two Director and Employee Stock Options to acquire 20,000 and 9,500 common shares at an exercise price of $8.59 per share, which reflects a conversion from a CAD $11.80 strike price.

On the same day he sold 10,181 common shares at a weighted average price of $26.34, and on January 6, 2026 he sold an additional 5,000 shares at a weighted average price of $26.57. The filing notes that the January 5 sales covered the option exercise price and the January 6 sales covered taxes related to the exercise. After these transactions, Malmen directly owned 14,319 common shares and held no remaining derivative options from the exercised grants.

Positive

  • None.

Negative

  • None.
Insider Malmen Jeffrey L
Role Director
Sold 15,181 shs ($401K)
Type Security Shares Price Value
Sale Common Shares 5,000 $26.57 $133K
X Director and Employee Stock Option (right to buy) 20,000 $0.00 --
X Director and Employee Stock Option (right to buy) 9,500 $0.00 --
X Common Shares 20,000 $8.59 $172K
X Common Shares 9,500 $8.59 $82K
Sale Common Shares 10,181 $26.34 $268K
Holdings After Transaction: Common Shares — 14,319 shares (Direct); Director and Employee Stock Option (right to buy) — 0 shares (Direct)
Footnotes (1)
  1. The exercise price of the stock option of CAD $11.80 is converted to USD based on the daily average exchange rate as reported by the H.10 statistical release of the Board of Governances of the Federal Reserve System on January 2, 2026, of C$1.3738 = US$1.00. The sale price of the stock option of CAD $36.18 is converted to USD based on the daily average exchange rate as reported by the H.10 statistical release of the Board of Governances of the Federal Reserve System on January 2, 2026, of C$1.3738 = US$1.00. The sale price of CAD $36.18 is a weighted average price. These shares were sold in multiple transactions at prices ranging from CAD $36.05 to CAD $36.31, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of Common Shares sold at each separate price within the range set forth in this footnote (2). These shares represent shares sold to cover option exercise price. The sale price of the stock option of CAD $36.50 is converted to USD based on the daily average exchange rate as reported by the H.10 statistical release of the Board of Governances of the Federal Reserve System on January 2, 2026, of C$1.3738 = US$1.00. The sale price of CAD $36.50 is a weighted average price. These shares were sold in multiple transactions at prices ranging from CAD $36.41 to CAD $36.71, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of Common Shares sold at each separate price within the range set forth in this footnote (3). These shares represent shares sold to cover payment of taxes relating to the option exercise. The stock option, representing a right to purchase a total of 20,000 Common Shares, became exercisable as to 5,000 Common Shares on January 20, 2021, as to 5,000 Common Shares on January 20, 2022, as to 5,000 Common Shares on January 20, 2023, and as to the remaining 5,000 on January 20, 2024. The stock option, representing a right to purchase a total of 9,500 Common Shares, became exercisable as to 2,375 Common Shares on January 20, 2021, as to 2,375 Common Shares on January 20, 2022, as to 2,375 Common Shares on January 20, 2023, and as to the remaining 2,375 on January 20, 2024.
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Form 4 Insider Transactions: What Each Field Means →
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*
Malmen Jeffrey L
(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)
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 Shares 01/05/2026 X 20,000 A $8.59(1) 20,000 D
Common Shares 01/05/2026 X 9,500 A $8.59(1) 29,500 D
Common Shares 01/05/2026 S 10,181 D $26.34(2) 19,319 D
Common Shares 01/06/2026 S 5,000 D $26.57(3) 14,319 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
Director and Employee Stock Option (right to buy) $8.59(1) 01/05/2026 X 20,000 (4) 01/20/2026 Common Shares 20,000 $0 0 D
Director and Employee Stock Option (right to buy) $8.59(1) 01/05/2026 X 9,500 (5) 01/20/2026 Common Shares 9,500 $0 0 D
Explanation of Responses:
1. The exercise price of the stock option of CAD $11.80 is converted to USD based on the daily average exchange rate as reported by the H.10 statistical release of the Board of Governances of the Federal Reserve System on January 2, 2026, of C$1.3738 = US$1.00.
2. The sale price of the stock option of CAD $36.18 is converted to USD based on the daily average exchange rate as reported by the H.10 statistical release of the Board of Governances of the Federal Reserve System on January 2, 2026, of C$1.3738 = US$1.00. The sale price of CAD $36.18 is a weighted average price. These shares were sold in multiple transactions at prices ranging from CAD $36.05 to CAD $36.31, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of Common Shares sold at each separate price within the range set forth in this footnote (2). These shares represent shares sold to cover option exercise price.
3. The sale price of the stock option of CAD $36.50 is converted to USD based on the daily average exchange rate as reported by the H.10 statistical release of the Board of Governances of the Federal Reserve System on January 2, 2026, of C$1.3738 = US$1.00. The sale price of CAD $36.50 is a weighted average price. These shares were sold in multiple transactions at prices ranging from CAD $36.41 to CAD $36.71, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of Common Shares sold at each separate price within the range set forth in this footnote (3). These shares represent shares sold to cover payment of taxes relating to the option exercise.
4. The stock option, representing a right to purchase a total of 20,000 Common Shares, became exercisable as to 5,000 Common Shares on January 20, 2021, as to 5,000 Common Shares on January 20, 2022, as to 5,000 Common Shares on January 20, 2023, and as to the remaining 5,000 on January 20, 2024.
5. The stock option, representing a right to purchase a total of 9,500 Common Shares, became exercisable as to 2,375 Common Shares on January 20, 2021, as to 2,375 Common Shares on January 20, 2022, as to 2,375 Common Shares on January 20, 2023, and as to the remaining 2,375 on January 20, 2024.
/s/ Tanya Nelson, as attorney-in-fact for Jeffrey L Malmen 01/07/2026
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider activity did Jeffrey L. Malmen report for PPTA?

Director Jeffrey L. Malmen reported exercising two stock option grants into 29,500 Perpetua Resources common shares and then selling a portion of those shares over January 5–6, 2026.

How many Perpetua Resources shares did Malmen acquire through option exercises?

On January 5, 2026, Malmen exercised Director and Employee Stock Options covering 20,000 common shares and 9,500 common shares, for a total of 29,500 shares.

At what prices were Malmen’s Perpetua Resources options exercised and shares sold?

The options were exercised at $8.59 per share, reflecting a CAD $11.80 strike. He sold 10,181 shares at a weighted average price of $26.34 and 5,000 shares at a weighted average price of $26.57, with CAD prices converted to USD using a stated exchange rate.

How many Perpetua Resources shares did Malmen sell in these Form 4 transactions?

Malmen sold 10,181 common shares on January 5, 2026 and 5,000 common shares on January 6, 2026, for a total of 15,181 shares sold.

How many Perpetua Resources shares does Malmen own after these trades?

Following the reported transactions, Malmen directly owned 14,319 Perpetua Resources common shares.

What was the purpose of Malmen’s Perpetua Resources share sales?

According to the footnotes, the 10,181 shares sold at a weighted average CAD $36.18 were to cover the option exercise price, and the 5,000 shares sold at a weighted average CAD $36.50 were to cover taxes related to the option exercise.