Director at Royal Gold (RGLD) receives grant of 561 phantom stock units

Rhea-AI Filing Summary

Isto Mark reported acquisition or exercise transactions in this Form 4 filing.

Royal Gold Inc. director Mark Isto received a grant of 561 phantom stock units. The award was made on February 26, 2026 at a stated price of $0.00 per unit. Each phantom stock unit is the economic equivalent of one share of Royal Gold common stock.

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

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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^*

Isto Mark

(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).
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FAQ

What insider transaction did Royal Gold (RGLD) report for Mark Isto?

Royal Gold reported that director Mark Isto received a grant of 561 phantom stock units. The grant was recorded on February 26, 2026 and is classified as a grant, award, or other acquisition, rather than an open-market stock purchase or sale.

How many phantom stock units were granted to the Royal Gold (RGLD) director?

The director received 561 phantom stock units in this transaction. After the grant, his derivative holdings in this phantom stock award series total 561 units, reflecting the full amount from this single reported acquisition event on February 26, 2026.

What is phantom stock in the context of Royal Gold (RGLD)?

For this award, each share of phantom stock is the economic equivalent of one share of Royal Gold common stock. That means the value of the phantom units tracks common stock value, typically used as a form of cash-settled or stock-settled incentive compensation for insiders.

Did Mark Isto buy or sell Royal Gold (RGLD) shares in this filing?

This filing reports an acquisition through a grant, not an open-market buy or sell. The transaction code is “A” for grant, award, or other acquisition, indicating compensation-related phantom stock units rather than a discretionary purchase or sale of existing common shares.

What was the price per phantom stock unit in the Royal Gold (RGLD) grant?

The phantom stock units were granted at a stated price of $0.00 per unit. This indicates the award was part of compensation, with no cash paid by the director to acquire the 561 units economically linked to Royal Gold common stock value.

How is ownership classified for this Royal Gold (RGLD) phantom stock grant?

The phantom stock grant is reported as directly owned by the director. The ownership code is listed as “D” for direct, meaning the 561 phantom stock units are attributed personally to Mark Isto rather than to an indirect entity such as a trust or partnership.