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

Rhea-AI Filing Summary

Royal Gold Inc. director Sybil E. Veenman reported an award of derivative compensation in the form of phantom stock. On February 26, 2026, she acquired 561 units of phantom stock at a stated price of $0.00 per unit, increasing her direct holdings of this derivative security to 561 units. Each phantom stock unit is economically equivalent to one share of Royal Gold common stock, providing value tied to the share price without issuing actual shares at this time.

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^*

Veenman Sybil E

(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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What insider transaction did Royal Gold (RGLD) report for Sybil E. Veenman?

Royal Gold reported that director Sybil E. Veenman received an award of 561 phantom stock units on February 26, 2026. These units are a form of derivative-based compensation tied to the company’s common stock value.

How many phantom stock units did the Royal Gold (RGLD) director acquire?

The director acquired 561 phantom stock units. After this grant, her total reported direct holdings of this derivative security are 561 units, according to the Form 4 transaction details provided in the filing data.

What is the economic value of the phantom stock granted at Royal Gold (RGLD)?

Each unit of phantom stock is described as the economic equivalent of one share of common stock. This means the value of the award tracks Royal Gold’s common share price, even though no actual shares are issued through this grant.

Was there a purchase price for the Royal Gold (RGLD) phantom stock grant?

The phantom stock units were granted at a stated price of $0.00 per unit. This reflects that the award is a form of compensation rather than an open-market purchase of existing Royal Gold common shares.

Is the Royal Gold (RGLD) phantom stock grant a buy or a sale of shares?

The Form 4 categorizes this as a grant or award acquisition of phantom stock, not an open-market buy or sale. It is derivative-based compensation economically equivalent to common stock, awarded to the director.