Royal Gold (RGLD) director awarded 561 phantom stock equivalents

Rhea-AI Filing Summary

Vance Ronald J reported acquisition or exercise transactions in this Form 4 filing.

ROYAL GOLD INC director Ronald J. Vance reported an award of 561 shares of phantom stock on February 26, 2026. Each phantom share is economically equivalent to one share of the company’s common stock, giving him the same financial exposure as owning 561 common shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Vance Ronald J

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	561	$0.00	--

Holdings After Transaction: Phantom Stock — 561 shares (Direct)

Footnotes (1)

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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
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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^*

Vance Ronald J

(Last) (First) (Middle)

1144 15TH STREET, SUITE 2500

(Street)

DENVER CO 80202

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ROYAL GOLD INC [ RGLD ]

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)
02/26/2026

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

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
Phantom Stock	(1)	02/26/2026		A		561		(1)	(1)	Common Stock	561	$0	561	D

Explanation of Responses:

1. Each share of phantom stock is the economic equivalent of one share of common stock.

Remarks:

	Michelle Perry, by power of attorney	03/02/2026
	** 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 transaction did ROYAL GOLD INC (RGLD) report for Ronald J. Vance?

ROYAL GOLD INC reported that director Ronald J. Vance received an award of 561 shares of phantom stock. This grant was recorded on February 26, 2026, and represents additional equity-linked compensation tied to the company’s common stock performance.

How many phantom stock shares did Ronald J. Vance acquire at ROYAL GOLD INC?

Ronald J. Vance acquired 561 shares of phantom stock from ROYAL GOLD INC. After this grant, his total phantom stock holdings reported in the filing are 561 shares, reflecting a new equity-based position linked to the company’s common stock value.

What is the economic value relationship of ROYAL GOLD INC phantom stock to common shares?

Each phantom stock share at ROYAL GOLD INC is the economic equivalent of one share of common stock. This means the value of phantom stock tracks the company’s common shares, giving the holder similar financial exposure without holding actual common shares.

Was the phantom stock grant to Ronald J. Vance a purchase or an award?

The phantom stock reported for Ronald J. Vance was a grant or award acquisition, not an open-market purchase. The Form 4 characterizes the transaction under a grant, award, or other acquisition code, indicating compensation rather than a traditional share purchase.

What ownership type does Ronald J. Vance have for the ROYAL GOLD INC phantom stock?

The filing classifies Ronald J. Vance’s 561 phantom stock shares as held with direct ownership. Direct ownership indicates the reported position is attributed to him personally, rather than through an intermediate entity such as a trust, partnership, or family investment vehicle.