Perpetua Resources (PPTA) director exercises options, sells shares

Rhea-AI Filing Summary

Perpetua Resources director Alexander Sternhell reported option exercises and related share sales. On January 5, 2026, he exercised stock options for 20,000 and 9,500 Perpetua common shares at $8.59 per share, which reflects the USD equivalent of a CAD $11.80 exercise price based on a stated exchange rate. These option grants had fully vested in equal annual installments from January 20, 2021 through January 20, 2024.

Also on January 5, he sold 10,148 common shares at $26.50 per share, corresponding to a weighted-average CAD price of $36.40, with the filing stating these shares were sold to cover the option exercise price. On January 7, 2026, he sold an additional 3,000 shares at $29.09 per share, tied to a weighted-average CAD price of $39.96, described as sold to cover taxes related to the option exercise. Following these transactions, Sternhell directly owned 16,352 Perpetua common 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^*

Sternhell Alexander McLeod

(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		10,148	D	$26.5(2)	19,352	D
Common Shares	01/07/2026		S		3,000	D	$29.09(3)	16,352	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 $36.40 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 $36.40 is a weighted average price. These shares were sold in multiple transactions at prices ranging from CAD $36.36 to CAD $36.56, 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 $39.96 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 $39.96 is a weighted average price. These shares were sold in multiple transactions at prices ranging from CAD $39.96 to CAD $39.97, 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 Alexander Sternhell	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.

FAQ

What insider transactions did Perpetua Resources (PPTA) report in this Form 4?

The filing shows director Alexander Sternhell exercised options for 29,500 Perpetua common shares on January 5, 2026 and sold a total of 13,148 shares on January 5 and January 7, 2026 to cover the option exercise price and related taxes.

How many Perpetua Resources shares does Alexander Sternhell own after these transactions?

After the reported option exercises and share sales, Alexander Sternhell directly owned 16,352 Perpetua common shares.

At what prices did Alexander Sternhell exercise and sell Perpetua Resources (PPTA) shares?

He exercised options at $8.59 per share, which reflects the USD value of a CAD $11.80 exercise price using a disclosed exchange rate. He sold 10,148 shares at $26.50 per share (tied to a weighted-average CAD price of $36.40) and 3,000 shares at $29.09 per share (linked to a weighted-average CAD price of $39.96).

Why did Alexander Sternhell sell Perpetua Resources shares in this Form 4?

The filing states that the 10,148 shares sold on January 5, 2026 were to cover the option exercise price, and the 3,000 shares sold on January 7, 2026 were to cover payment of taxes relating to the option exercise.

What were the vesting terms of the Perpetua stock options exercised by Alexander Sternhell?

One option grant for 20,000 common shares vested in four tranches of 5,000 shares each on January 20 of 2021, 2022, 2023, and 2024. A second grant for 9,500 shares vested in four tranches of 2,375 shares on the same annual dates.

How were Canadian dollar prices converted to U.S. dollars in this Perpetua Form 4?

The filing explains that CAD prices, including the CAD $11.80 exercise price and CAD sale prices of $36.40 and $39.96, were converted to USD using a stated exchange rate of C$1.3738 = US$1.00 from a Federal Reserve H.10 statistical release dated January 2, 2026.