Royal Gold (RGLD) director sells 4,173 common shares

Rhea-AI Filing Summary

Royal Gold Inc. director William M. Hayes reported an open-market sale of common stock. On February 20, 2026, he sold 4,173 shares of Royal Gold common stock at an average price of $277.07 per share. After this transaction, he directly owned 6,129 common shares.

Insider Trade Summary

Net Seller: 4,173 shares ($1,156,213)

Net Sell 1 txn

Insider Hayes William M.

Role Director

Sold 4,173 shs ($1.16M)

Type	Security	Shares	Price	Value
Sale	Common Stock	4,173	$277.07	$1.16M

Holdings After Transaction: Common Stock — 6,129 shares (Direct)

Footnotes (1)

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^*

Hayes William M.

(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)
02/20/2026

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	02/20/2026		S		4,173	D	$277.07	6,129	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:

Remarks:

	Michelle Perry, by power of attorney	02/23/2026
	** 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 (RGLD) report for William M. Hayes?

Royal Gold director William M. Hayes reported selling 4,173 common shares. The transaction was an open-market sale at an average price of $277.07 per share, leaving him with 6,129 directly owned Royal Gold common shares afterward.

When did the Royal Gold (RGLD) director William M. Hayes sell his shares?

William M. Hayes sold his Royal Gold common shares on February 20, 2026. The Form 4 filing shows this single open-market transaction involving 4,173 shares at an average price of $277.07 per share, with 6,129 shares remaining under his direct ownership.

How many Royal Gold (RGLD) shares does William M. Hayes own after this Form 4 sale?

After the reported sale, William M. Hayes directly owns 6,129 Royal Gold common shares. Before this open-market transaction, he held more shares but disposed of 4,173 shares at an average price of $277.07 each, according to the Form 4 details.

What type of transaction is reported in William M. Hayes’ Royal Gold (RGLD) Form 4?

The Form 4 reports an open-market sale of Royal Gold common stock by director William M. Hayes. It is classified with transaction code “S,” indicating a sale in the open market or a private transaction, covering 4,173 shares at $277.07 per share.

Is the William M. Hayes Royal Gold (RGLD) transaction a direct or indirect holding change?

The Royal Gold Form 4 shows the transaction as affecting direct ownership only. William M. Hayes’ 4,173-share sale and the remaining 6,129 shares are both reported as directly owned, with no indication of indirect ownership entities in the filing.