Royal Gold SVP gets stock grants, tax withholding

Royal Gold SVP, Operations Martin Raffield reported several equity transactions in company common stock.

Rhea-AI Filing Summary

Royal Gold SVP, Operations Martin Raffield reported several equity transactions in company common stock. On February 26, 2026, he received two grants of restricted stock totaling 1,948 shares, which vest over multiple years according to time-based schedules. On February 27, March 1, and March 2, 2026, a combined 880 shares were disposed of as tax-withholding transactions at prices between $299.79 and $304.29, with footnotes stating these shares were withheld to satisfy taxes and that no shares were sold on the market. Following these transactions, his directly held position was 11,063 shares of Royal Gold common stock.

Insider Trade Summary

5 transactions reported

Mixed 5 txns

Insider Raffield Martin

Role SVP, Operations

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Common Stock	213	$304.29	$65K
Exercise Price or Tax Liability	Common Stock	354	$299.79	$106K
Exercise Price or Tax Liability	Common Stock	313	$299.79	$94K
Grant/Award	Common Stock	1,608	$0.00	$0.00
Grant/Award	Common Stock	340	$0.00	$0.00

Holdings After Transaction: Common Stock — 11,063 shares (Direct)

Footnotes (3)

1. F1. Grant of restricted stock vesting one-third annually over three years beginning on the first anniversary of the grant date.
2. F2. 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. F3. Represents shares withheld to satisfy taxes; no shares were sold.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did Royal Gold (RGLD) SVP Martin Raffield report?

SVP Martin Raffield reported grants and tax-related dispositions of Royal Gold common stock. He received 1,948 restricted shares on February 26, 2026, and 880 shares were withheld for taxes over February 27 to March 2, 2026.

Were any of Martin Raffield’s Royal Gold (RGLD) transactions open-market sales?

According to the disclosure, no open-market sales occurred. Footnotes state that the Form 4’s F-coded transactions represent shares withheld to satisfy tax obligations, with no shares actually sold into the market during these events.

How many Royal Gold (RGLD) shares does Martin Raffield hold after these transactions?

After the reported grants and tax-withholding dispositions, Martin Raffield directly holds 11,063 shares of Royal Gold common stock. This figure reflects all Form 4 transactions through March 2, 2026, as shown in the ownership balance fields.

What are the vesting terms of Martin Raffield’s new Royal Gold (RGLD) restricted stock grants?

One grant vests one-third annually over three years, beginning on the first anniversary of the grant date. A second grant vests one-half on the first anniversary and one-half on the third anniversary, creating staggered multi-year vesting schedules.

What transaction codes appear in Martin Raffield’s Royal Gold (RGLD) Form 4?

The Form 4 shows code A transactions for grant or award acquisitions of restricted stock and code F transactions for tax-withholding dispositions. The F-coded entries are described as payments of tax liabilities by delivering securities, not market sales.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 03/02/2026 - 06:24 PM Learn about SEC filing dates

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^*

Raffield Martin

(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, Operations

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		1,608(1)	A	$0	11,603	D
Common Stock	02/26/2026		A		340(2)	A	$0	11,943	D
Common Stock	02/27/2026		F		313(3)	D	$299.79	11,630	D
Common Stock	03/01/2026		F		354(3)	D	$299.79	11,276	D
Common Stock	03/02/2026		F		213(3)	D	$304.29	11,063	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.