Director buys 2,500 ADS of Sibanye Stillwater (NYSE: SBSW)

Rhea-AI Filing Summary

Sibanye Stillwater Ltd director Richard Peter Menell reported an open-market purchase of 2,500 American Depositary Shares on March 24, 2026 at a price of $11.43 per ADS. After this transaction, he directly holds 2,500 ADS, and separately 10,125 ordinary shares. Each ADS represents four ordinary shares.

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^*

Menell Richard Peter

(Last) (First) (Middle)

CNR 14TH AVE & HENDRIK POTIETER

BRIDGEVIEW HSE, BLD 11, CONSTANTIA OFF.

(Street)

WELTEVREDEN PARK 1709

(City) (State) (Zip)

SOUTH AFRICA

(Country)

2. Issuer Name and Ticker or Trading Symbol
Sibanye Stillwater Ltd [ SBSW ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol
[SSW]

3. Date of Earliest Transaction (Month/Day/Year)
03/24/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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
American Depositary Shares(1)	03/24/2026		P		2,500	A	$11.43	2,500	D
Ordinary Shares								10,125	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. Each American Depositary Share represents four ordinary shares of the Issuer.

Remarks:

	/s/ Richard Peter Menell	03/25/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Sibanye Stillwater (SBSW) disclose?

Sibanye Stillwater disclosed that director Richard Peter Menell bought 2,500 American Depositary Shares in an open-market transaction. The shares were purchased at $11.43 per ADS on March 24, 2026, increasing his directly held ADS position reported in this filing.

At what price did the Sibanye Stillwater (SBSW) director buy ADS shares?

Director Richard Peter Menell purchased the 2,500 American Depositary Shares at $11.43 per ADS. This price reflects an open-market purchase on March 24, 2026, as recorded in the Form 4 insider transaction report for Sibanye Stillwater Ltd.

How many Sibanye Stillwater (SBSW) ADS does the director hold after the trade?

Following the reported transaction, director Richard Peter Menell directly holds 2,500 American Depositary Shares. This figure represents his ADS position after the March 24, 2026 open-market purchase detailed in the Form 4, separate from his holdings of ordinary shares.

What are the director’s ordinary share holdings in Sibanye Stillwater (SBSW)?

The filing reports that Richard Peter Menell directly holds 10,125 ordinary shares of Sibanye Stillwater Ltd. This ordinary share position is listed separately from his 2,500 American Depositary Shares and reflects direct ownership as of the date of the reported transactions.

How do Sibanye Stillwater (SBSW) ADS relate to ordinary shares?

Each Sibanye Stillwater American Depositary Share represents four ordinary shares, according to the footnote in the Form 4. This ratio links ADS holdings to underlying ordinary shares, helping investors understand the economic interest represented by ADS positions reported for the director.