[Form 4] ROYAL GOLD INC Insider Trading Activity

Rhea-AI Filing Summary

Royal Gold Inc. senior vice president and CFO Paul Libner reported a mix of equity compensation grants and related tax-withholding transactions in company common stock. On February 26, he acquired 1,612 and 340 shares through restricted stock awards that were granted at no cash cost and vest over multi-year schedules, according to the footnotes.

On February 27, March 1, and March 2, Libner disposed of 480, 622, and 515 shares, respectively, in transactions coded as tax-withholding dispositions at prices between $299.79 and $304.29 per share. A footnote states these were shares withheld to satisfy taxes and that no shares were sold, leaving him with 19,167 directly owned shares after the most recent transaction.

Insider Trade Summary

5 transactions reported

Mixed 5 txns

Insider Libner Paul

Role SVP & CFO

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	515	$304.29	$157K
Tax Withholding	Common Stock	622	$299.79	$186K
Tax Withholding	Common Stock	480	$299.79	$144K
Grant/Award	Common Stock	1,612	$0.00	--
Grant/Award	Common Stock	340	$0.00	--

Holdings After Transaction: Common Stock — 19,167 shares (Direct)

Footnotes (1)

1. Grant of restricted stock vesting one-third annually over three years beginning on the first anniversary of the grant date. Grant of restricted stock vesting one-half on the first anniversary of the grant date and one-half on the third anniversary of the grant date. Represents shares withheld to satisfy taxes; no shares were sold.

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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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^*

Libner Paul

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP & CFO

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
Common Stock	02/26/2026		A		1,612(1)	A	$0	20,444	D
Common Stock	02/26/2026		A		340(2)	A	$0	20,784	D
Common Stock	02/27/2026		F		480(3)	D	$299.79	20,304	D
Common Stock	03/01/2026		F		622(3)	D	$299.79	19,682	D
Common Stock	03/02/2026		F		515(3)	D	$304.29	19,167	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

Explanation of Responses:

1. Grant of restricted stock vesting one-third annually over three years beginning on the first anniversary of the grant date.

2. Grant of restricted stock vesting one-half on the first anniversary of the grant date and one-half on the third anniversary of the grant date.

3. Represents shares withheld to satisfy taxes; no shares were sold.

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 transactions did Royal Gold (RGLD) CFO Paul Libner report?

Paul Libner reported restricted stock awards and related tax-withholding transactions in Royal Gold common stock. He received two grants on February 26 and had shares withheld on three later dates to cover tax obligations, as reflected by Form 4 transaction codes and footnotes.

How many Royal Gold (RGLD) shares were granted to the CFO in this Form 4?

The Form 4 shows Paul Libner received two restricted stock grants of 1,612 and 340 Royal Gold common shares on February 26. Footnotes explain these are restricted stock awards that vest over several years under specified schedules tied to the grant date anniversaries.

Were any Royal Gold (RGLD) shares actually sold by the CFO in these transactions?

No shares were sold. The filing labels three transactions with code F as tax-withholding dispositions, and a footnote explicitly states these represent shares withheld to satisfy taxes, with no shares sold on the open market or through discretionary sales.

What prices are associated with the Royal Gold (RGLD) tax-withholding transactions?

The tax-withholding dispositions are reported at per-share prices of $299.79 on February 27 and March 1, and $304.29 on March 2. These values reflect the price used for withholding calculations rather than proceeds from discretionary selling activity by the Royal Gold CFO.

How many Royal Gold (RGLD) shares does the CFO own after these Form 4 transactions?

After the most recent reported transaction on March 2, the Form 4 states that Paul Libner directly owns 19,167 Royal Gold common shares. This figure reflects the net result of the restricted stock grants and the shares withheld for tax obligations detailed in the filing.