Paramount Gold (NYSE: PZG) awards 25,500 RSUs with performance triggers

Rhea-AI Filing Summary

Paramount Gold Nevada Corp. director Pierre Pelletier received three grants of restricted stock units on December 22, 2025, each for 8,500 RSUs, totaling 25,500 new units. Each RSU equals one share of common stock, bringing his directly held derivative position to 45,500 RSUs.

One RSU grant vests upon receipt of final state and federal permits for the Grassy Mountain Project. A second vests if the company’s share price outperforms the average of a 12‑company peer group over the 12‑month period ending December 31, 2026. The third vests three years from the grant date. The form notes it was filed late due to enrollment and authorization delays in the SEC’s EDGAR Next system.

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^*

Pelletier Pierre Clement

(Last) (First) (Middle)

625 ANDERSON STREET

(Street)

WINNEMUCCA NV 89445

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Paramount Gold Nevada Corp. [ PZG ]

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)
12/22/2025

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

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
RSU	(1)	12/22/2025		A		8,500		(2)	(3)	Common Stock	8,500	$0	28,500	D
RSU	(1)	12/22/2025		A		8,500		(4)	(5)	Common Stock	8,500	$0	37,000	D
RSU	(1)	12/22/2025		A		8,500		(6)	(7)	Common Stock	8,500	$0	45,500	D

Explanation of Responses:

1. Each restricted stock unit is equivalent to one share of the Company's common stock.

2. The restricted stock units were granted under the 2016 Stock Incentive and Equity Compensation Plan and will vest on the receipt of the final state and federal permits for the Grassy Mountain Project.

3. The restricted stock units will vest and be delivered to the reporting person upon the delivery of the final state and federal permits for the Grassy Mountain Project.

4. The restricted stock units were granted under the 2016 Stock Incentive and Equity Compensation Plan and will vest upon the Company's share price outperforming the average share price of the 12 peer group companies over the 12 month period ending December 31, 2026.

5. The restricted stock units will vest and be delivered to the reporting person upon the Company's share price outperforming the average share price of the 12 peer group companies over the 12 month period ending December 31, 2026.

6. The restricted stock units were granted under the 2016 Stock Incentive and Equity Compensation Plan and will vest three years from the date of grant.

7. The restricted stock units will vest and be delivered to the reporting person three years from date of grant.

Remarks:

This form is being filed late due to delays encountered during the reporting person's initial erollment and account authorization within the SEC's EDGAR Next System.

	Pierre Pelletier	01/28/2026
	** 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.
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FAQ

What did Paramount Gold Nevada (PZG) report in this Form 4 filing?

Paramount Gold Nevada reported that director Pierre Pelletier received three grants of restricted stock units, each for 8,500 RSUs, on December 22, 2025. These equity awards increased his directly held derivative position to 45,500 RSUs tied to the company’s common stock.

How many restricted stock units did Pierre Pelletier receive from PZG?

Pierre Pelletier received a total of 25,500 restricted stock units from Paramount Gold Nevada, in three separate grants of 8,500 RSUs each. Following these awards, the Form 4 shows he beneficially owns 45,500 derivative securities in the form of RSUs, held directly.

What are the vesting conditions for the new RSUs at Paramount Gold Nevada (PZG)?

The RSUs vest under three structures: one tranche upon final state and federal permits for the Grassy Mountain Project, another based on share price outperformance versus a 12‑company peer group through December 31, 2026, and a third three years from the December 22, 2025 grant date.

How is Paramount Gold Nevada’s Grassy Mountain Project tied to these RSU awards?

One RSU grant vests on receipt of final state and federal permits for the Grassy Mountain Project, directly linking compensation to permitting progress. A related footnote explains the units will be delivered to Pierre Pelletier when those final permits have been obtained.

How does stock performance affect RSU vesting for Paramount Gold Nevada (PZG)?

A portion of Pierre Pelletier’s RSUs will vest only if Paramount Gold Nevada’s share price outperforms the average share price of 12 peer group companies over the 12‑month period ending December 31, 2026. This ties part of his award to relative stock performance.

Why was this Paramount Gold Nevada Form 4 filed late?

The Form 4 states it was filed late because of delays during Pierre Pelletier’s initial enrollment and account authorization in the SEC’s EDGAR Next system. This explanation appears in the remarks section, clarifying the administrative reason for the untimely submission.