Royal Gold (RGLD) SVP awarded restricted stock, shares withheld for taxes

Rhea-AI Filing Summary

Royal Gold Inc. SVP & General Counsel Randy Shefman reported equity compensation grants and related tax withholding transactions in company common stock. On February 26, 2026, he acquired 1,557 and 340 shares as restricted stock awards, with vesting over multi‑year schedules tied to grant anniversaries.

On February 27, 2026, March 1, 2026, and March 2, 2026, a total of 312, 368, and 309 shares, respectively, were disposed of to cover tax obligations. The footnotes state these were shares withheld to satisfy taxes and that no shares were sold in the market. After these transactions, Shefman directly held 10,082 common shares.

Insider Trade Summary

5 transactions reported

Mixed 5 txns

Insider Shefman Randy

Role SVP & General Counsel

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	309	$304.29	$94K
Tax Withholding	Common Stock	368	$299.79	$110K
Tax Withholding	Common Stock	312	$299.79	$94K
Grant/Award	Common Stock	1,557	$0.00	--
Grant/Award	Common Stock	340	$0.00	--

Holdings After Transaction: Common Stock — 10,082 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
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^*

Shefman Randy

(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 & General Counsel

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		1,557(1)	A	$0	10,731	D
Common Stock	02/26/2026		A		340(2)	A	$0	11,071	D
Common Stock	02/27/2026		F		312(3)	D	$299.79	10,759	D
Common Stock	03/01/2026		F		368(3)	D	$299.79	10,391	D
Common Stock	03/02/2026		F		309(3)	D	$304.29	10,082	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) report for Randy Shefman?

Royal Gold reported that Randy Shefman, SVP & General Counsel, received two restricted stock awards and had several related tax-withholding dispositions. The grants and withholdings involved common stock and were structured as standard equity compensation and tax coverage events, not open-market trades.

How many Royal Gold (RGLD) shares did Randy Shefman acquire in the latest Form 4?

Randy Shefman acquired 1,557 shares and 340 shares of Royal Gold common stock as restricted stock grants. These awards vest over multiple years based on anniversaries of the grant date, aligning his compensation with longer-term company performance and retention incentives.

Were any Royal Gold (RGLD) shares sold on the market in this Form 4 filing?

No market sales occurred. The filing states shares reported as dispositions were withheld to satisfy tax liabilities. The footnotes explicitly clarify these transactions were for tax withholding purposes only, meaning no shares were actually sold into the open market.

What vesting terms apply to Randy Shefman’s new Royal Gold (RGLD) restricted stock awards?

One restricted stock grant vests one-third each year over three years starting on the first grant anniversary. The other vests one-half on the first anniversary and the remaining half on the third anniversary, creating staggered, time-based vesting schedules for the awards.

How many Royal Gold (RGLD) shares does Randy Shefman own after these transactions?

After the reported grants and tax-withholding dispositions, Randy Shefman directly owns 10,082 shares of Royal Gold common stock. This figure reflects his updated direct ownership position following all the transactions disclosed in the Form 4 filing.