Trilogy Metals (TMQ) director awarded 50,000 stock options at $4.61 strike

Rhea-AI Filing Summary

Trilogy Metals Inc. reported a director stock option grant for William Beckwith Hayden. On 12/11/2025, he was awarded options to buy 50,000 common shares of Trilogy Metals.

The options have an exercise price of $4.61 per share, which was converted from a Canadian exercise price of C$6.35 using an exchange rate of C$1.3774 = US$1.00. The options become exercisable on 12/11/2025 and expire on 12/10/2030. After this grant, he beneficially owns 50,000 derivative securities directly.

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^*

Hayden William Beckwith

(Last) (First) (Middle)

C/O TRILOGY METALS INC.

SUITE 901, 510 BURRARD STREET

(Street)

VANCOUVER A1 V6C 3A8

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Trilogy Metals Inc. [ TMQ ]

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)
12/11/2025

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
Director Stock Option (Right to Buy)	$4.61(1)	12/11/2025		A		50,000		12/11/2025	12/10/2030	Common Shares	50,000	$0	50,000	D

Explanation of Responses:

1. Converted from Canadian exercise price of C$6.35 using an exchange rate of C$1.3774 = US$1.00.

	/s/ Elaine Sanders as attorney-in-fact for William Beckwith Hayden	12/12/2025
	** 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 Trilogy Metals (TMQ) report in this Form 4?

Trilogy Metals reported that director William Beckwith Hayden received a grant of 50,000 stock options to buy Trilogy Metals common shares.

What is the exercise price of the Trilogy Metals (TMQ) director stock options?

The director stock options have an exercise price of $4.61 per share, converted from a Canadian exercise price of C$6.35.

When do the Trilogy Metals (TMQ) stock options granted to the director vest and expire?

The options are exercisable starting on 12/11/2025 and have an expiration date of 12/10/2030.

How many Trilogy Metals (TMQ) derivative securities does the director own after this transaction?

Following the reported transaction, the director beneficially owns 50,000 derivative securities (stock options) directly.

How was the Trilogy Metals (TMQ) option exercise price determined in U.S. dollars?

The U.S. dollar exercise price of $4.61 was calculated from a Canadian price of C$6.35 using an exchange rate of C$1.3774 = US$1.00.