STOCK TITAN

[Form 4] Trilogy Metals Inc. Insider Trading Activity

Filing Impact
(High)
Filing Sentiment
(Negative)
Form Type
4

Director William Beckwith Hayden reported multiple transactions in Trilogy Metals Inc. (TMQ) on 10/08/2025 and 10/09/2025. On 10/08/2025 the reporting person recorded acquisitions totaling 325,000 common shares by conversion/exercise across five separate items (100,000; 50,000; 50,000; 50,000; 75,000), with Canadian exercise prices converted to U.S. dollars using a C$1.3952 exchange rate. Also on 10/08/2025 the filing shows a sale of 64,294 shares at a weighted average price of $7.06, and on 10/09/2025 a sale of 200,000 shares at a weighted average price of $6.61. After these transactions the reporting person beneficially owned 382,685 common shares. The form identifies the filer as a Director and includes footnotes disclosing Canadian price conversions and ranges for the weighted average sale prices.

Direttore William Beckwith Hayden ha riferito molteplici operazioni in Trilogy Metals Inc. (TMQ) il 10/08/2025 e il 10/09/2025. Il 10/08/2025 la persona che riporta ha registrato acquisizioni complessive di 325,000 azioni ordinarie mediante conversione/esercizio su cinque elementi (100,000; 50,000; 50,000; 50,000; 75,000), con prezzi di esercizio in dollari canadesi convertiti in dollari statunitensi usando un tasso di cambio C$1.3952. Sempre il 10/08/2025 la dichiarazione mostra una vendita di 64,294 azioni a un prezzo medio ponderato di $7.06, e il 10/09/2025 una vendita di 200,000 azioni a un prezzo medio ponderato di $6.61. Dopo queste transazioni la persona che riporta deteneva beneficiamente 382,685 azioni ordinarie. Il modulo identifica il dichiarante come Director e include note a piè di pagina che divulgano conversioni dei prezzi canadesi e intervalli per i prezzi medi ponderati di vendita.

Director William Beckwith Hayden reportó múltiples transacciones en Trilogy Metals Inc. (TMQ) el 10/08/2025 y el 10/09/2025. El 10/08/2025 la persona que reporta registró adquisiciones por un total de 325,000 acciones comunes mediante conversión/ejercicio en cinco ítems separados (100,000; 50,000; 50,000; 50,000; 75,000), con precios de ejercicio en dólares canadienses convertidos a dólares estadounidenses usando un tipo de cambio de C$1.3952. También el 10/08/2025 el filing muestra una venta de 64,294 acciones a un precio medio ponderado de $7.06, y el 10/09/2025 una venta de 200,000 acciones a un precio medio ponderado de $6.61. Después de estas transacciones, la persona reportante poseía de forma beneficiosa 382,685 acciones comunes. El formulario identifica al aportante como Director y incluye notas al pie que divulgan conversiones de precios canadienses y rangos para los precios medios ponderados de venta.

Director William Beckwith Hayden은 Trilogy Metals Inc. (TMQ)에 대해 2025/10/082025/10/09에 다수의 거래를 보고했습니다. 2025/10/08에 보고자는 다섯 건의 항목(100,000; 50,000; 50,000; 50,000; 75,000)을 통해 총 325,000주의 보통주를 전환/행사를 통해 취득했으며, 캐나다 달러 가격을 미화로 환산할 때 C$1.3952의 환율을 사용했습니다. 또한 2025/10/08의 신고서에 따르면 64,294주를 가중평균가 $7.06에 매각했고, 2025/10/09에는 200,000주를 가중평균가 $6.61에 매각했다고 기재되어 있습니다. 이러한 거래 이후 보고자는 실제로 382,685주의 보통주를 보유하게 되었습니다. 양식은 신고자를 Director로 식별하고 캐나다 가격 변환 및 매각가의 가중평균 범위를 공시하는 각주를 포함합니다.

Director William Beckwith Hayden a déclaré de multiples transactions dans Trilogy Metals Inc. (TMQ) les 08/10/2025 et 09/10/2025. Le 08/10/2025, la personne déclarant a enregistré des acquisitions totalisant 325,000 actions ordinaires par conversion/exercice réparties sur cinq éléments (100,000; 50,000; 50,000; 50,000; 75,000), les prix d'exercice canadiens étant convertis en dollars américains en utilisant un taux de change de C$1,3952 USD. Également le 08/10/2025, le dossier indique une vente de 64,294 actions à un prix moyen pondéré de $7,06, et le 09/10/2025 une vente de 200,000 actions à un prix moyen pondéré de $6,61. Après ces transactions, la personne déclarant détenait de manière bénéficiaire 382,685 actions ordinaires. Le formulaire identifie le déclarant comme Director et comprend des notes de bas de page divulguant les conversions de prix canadiens et des plages pour les prix moyens pondérés de vente.

Director William Beckwith Hayden meldete mehrere Transaktionen bei Trilogy Metals Inc. (TMQ) am 08.10.2025 und 09.10.2025. Am 08.10.2025 verzeichnete die meldende Person Käufe/Erwerbungen in Höhe von insgesamt 325,000 Stammaktien durch Umwandlung/Ausübung über fünf einzelne Posten (100.000; 50.000; 50.000; 50.000; 75.000), wobei kanadische Ausführungspreise unter Verwendung eines Wechselkurses von C$1,3952 in US-Dollar umgerechnet wurden. Ebenfalls am 08.10.2025 zeigt das Formular einen Verkauf von 64,294 Aktien zu einem gewichteten Durchschnittspreis von $7,06, und am 09.10.2025 einen Verkauf von 200,000 Aktien zu einem gewichteten Durchschnittspreis von $6,61. Nach diesen Transaktionen besaß die meldende Person wirtschaftlich 382,685 Stammaktien. Das Formular identifiziert den Melder als Director und enthält Fußnoten, die kanadische Preisumrechnungen und Spannen für die gewichteten Durchschnittspreise der Verkäufe offenlegen.

Director William Beckwith Hayden أبلغ عن عدة معاملات في Trilogy Metals Inc. (TMQ) في 10/08/2025 و10/09/2025. في 10/08/2025 سجل الشخص المبلغ عنه acquisitions بإجمالي 325,000 سهم عادي عن طريق التحويل/الممارسة عبر خمسة بنود منفصلة (100,000؛ 50,000؛ 50,000؛ 50,000؛ 75,000)، مع تحويل أسعار الإسناد من الدولار الكندي إلى الدولار الأمريكي باستخدام سعر صرف C$1.3952. كما في 10/08/2025 يظهر الملف أيضاً بيع 64,294 سهم بسعر متوسط وزني قدره $7.06، وفي 10/09/2025 بيع 200,000 سهم بسعر متوسط وزني قدره $6.61. بعد هذه المعاملات أصبح المبلغ عنه يمتلك فعلياً 382,685 سهم عادي. يعرّف النموذج المبلغ عنه كـ Director ويتضمن هوامش توضح تحويل الأسعار الكندية ونطاقات لأسعار البيع المتوسطة المرجحة.

Director William Beckwith Hayden 在 Trilogy Metals Inc. (TMQ) 于 2025/10/082025/10/09 报告了多笔交易。在 2025/10/08,报告人记录了通过转换/行使在五项中累计获得的 325,000 股普通股(100,000;50,000;50,000;50,000;75,000),其中以加拿大元价格换算成美元,汇率为 C$1.3952。同日申报还显示以加权平均价 $7.06 出售 64,294 股,2025/10/09又以加权平均价 $6.61 出售 200,000 股。完成这些交易后,报告人实益持有 382,685 股普通股。表格将申报人标识为 Director,并包含脚注,披露加拿大价格换算及加权平均出售价格的区间。

Positive
  • Large option conversions/exercises totaling 325,000 shares on 10/08/2025, signaling exercise of vested instruments
  • Clear disclosure of Canadian exercise prices and exchange rates (C$1.3952 and C$1.4000) for transparency
Negative
  • Substantial insider sales of 264,294 shares on 10/08/2025 and 10/09/2025, which materially reduced holdings
  • Weighted-average sale prices reported in Canadian dollars require conversions that may affect dollar-denominated proceeds

Insights

Director executed option conversions and partial share sales, ending with 382,685 shares.

The report documents five conversions/exercises totaling 325,000 common shares on 10/08/2025, converted from Canadian-dollar exercise prices using the stated exchange rate. Those exercises increased the reporting person's direct holdings before two subsequent open-market sales.

The reporting person sold a total of 264,294 shares across 10/08/2025 and 10/09/2025 at weighted average prices of $7.06 and $6.61, respectively. Monitor future filings for scheduled option expirations or additional trades that would change insider ownership over the next 12 months.

Direttore William Beckwith Hayden ha riferito molteplici operazioni in Trilogy Metals Inc. (TMQ) il 10/08/2025 e il 10/09/2025. Il 10/08/2025 la persona che riporta ha registrato acquisizioni complessive di 325,000 azioni ordinarie mediante conversione/esercizio su cinque elementi (100,000; 50,000; 50,000; 50,000; 75,000), con prezzi di esercizio in dollari canadesi convertiti in dollari statunitensi usando un tasso di cambio C$1.3952. Sempre il 10/08/2025 la dichiarazione mostra una vendita di 64,294 azioni a un prezzo medio ponderato di $7.06, e il 10/09/2025 una vendita di 200,000 azioni a un prezzo medio ponderato di $6.61. Dopo queste transazioni la persona che riporta deteneva beneficiamente 382,685 azioni ordinarie. Il modulo identifica il dichiarante come Director e include note a piè di pagina che divulgano conversioni dei prezzi canadesi e intervalli per i prezzi medi ponderati di vendita.

Director William Beckwith Hayden reportó múltiples transacciones en Trilogy Metals Inc. (TMQ) el 10/08/2025 y el 10/09/2025. El 10/08/2025 la persona que reporta registró adquisiciones por un total de 325,000 acciones comunes mediante conversión/ejercicio en cinco ítems separados (100,000; 50,000; 50,000; 50,000; 75,000), con precios de ejercicio en dólares canadienses convertidos a dólares estadounidenses usando un tipo de cambio de C$1.3952. También el 10/08/2025 el filing muestra una venta de 64,294 acciones a un precio medio ponderado de $7.06, y el 10/09/2025 una venta de 200,000 acciones a un precio medio ponderado de $6.61. Después de estas transacciones, la persona reportante poseía de forma beneficiosa 382,685 acciones comunes. El formulario identifica al aportante como Director y incluye notas al pie que divulgan conversiones de precios canadienses y rangos para los precios medios ponderados de venta.

Director William Beckwith Hayden은 Trilogy Metals Inc. (TMQ)에 대해 2025/10/082025/10/09에 다수의 거래를 보고했습니다. 2025/10/08에 보고자는 다섯 건의 항목(100,000; 50,000; 50,000; 50,000; 75,000)을 통해 총 325,000주의 보통주를 전환/행사를 통해 취득했으며, 캐나다 달러 가격을 미화로 환산할 때 C$1.3952의 환율을 사용했습니다. 또한 2025/10/08의 신고서에 따르면 64,294주를 가중평균가 $7.06에 매각했고, 2025/10/09에는 200,000주를 가중평균가 $6.61에 매각했다고 기재되어 있습니다. 이러한 거래 이후 보고자는 실제로 382,685주의 보통주를 보유하게 되었습니다. 양식은 신고자를 Director로 식별하고 캐나다 가격 변환 및 매각가의 가중평균 범위를 공시하는 각주를 포함합니다.

Director William Beckwith Hayden a déclaré de multiples transactions dans Trilogy Metals Inc. (TMQ) les 08/10/2025 et 09/10/2025. Le 08/10/2025, la personne déclarant a enregistré des acquisitions totalisant 325,000 actions ordinaires par conversion/exercice réparties sur cinq éléments (100,000; 50,000; 50,000; 50,000; 75,000), les prix d'exercice canadiens étant convertis en dollars américains en utilisant un taux de change de C$1,3952 USD. Également le 08/10/2025, le dossier indique une vente de 64,294 actions à un prix moyen pondéré de $7,06, et le 09/10/2025 une vente de 200,000 actions à un prix moyen pondéré de $6,61. Après ces transactions, la personne déclarant détenait de manière bénéficiaire 382,685 actions ordinaires. Le formulaire identifie le déclarant comme Director et comprend des notes de bas de page divulguant les conversions de prix canadiens et des plages pour les prix moyens pondérés de vente.

Director William Beckwith Hayden meldete mehrere Transaktionen bei Trilogy Metals Inc. (TMQ) am 08.10.2025 und 09.10.2025. Am 08.10.2025 verzeichnete die meldende Person Käufe/Erwerbungen in Höhe von insgesamt 325,000 Stammaktien durch Umwandlung/Ausübung über fünf einzelne Posten (100.000; 50.000; 50.000; 50.000; 75.000), wobei kanadische Ausführungspreise unter Verwendung eines Wechselkurses von C$1,3952 in US-Dollar umgerechnet wurden. Ebenfalls am 08.10.2025 zeigt das Formular einen Verkauf von 64,294 Aktien zu einem gewichteten Durchschnittspreis von $7,06, und am 09.10.2025 einen Verkauf von 200,000 Aktien zu einem gewichteten Durchschnittspreis von $6,61. Nach diesen Transaktionen besaß die meldende Person wirtschaftlich 382,685 Stammaktien. Das Formular identifiziert den Melder als Director und enthält Fußnoten, die kanadische Preisumrechnungen und Spannen für die gewichteten Durchschnittspreise der Verkäufe offenlegen.

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)
10/08/2025
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
Common Shares 10/08/2025 M 100,000 A $1.81(1) 422,159 D
Common Shares 10/08/2025 M 50,000 A $1.58(2) 472,159 D
Common Shares 10/08/2025 M 50,000 A $0.56(3) 522,159 D
Common Shares 10/08/2025 M 50,000 A $0.42(4) 572,159 D
Common Shares 10/08/2025 M 75,000 A $1.09(5) 647,159 D
Common Shares 10/08/2025 S 64,294 D $7.06(6) 582,865 D
Common Shares 10/09/2025 S 200,000 D $6.61(7) 382,685 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
Common Shares $1.81(1) 10/08/2025 M 100,000 12/10/2020 12/09/2025 Common Shares 100,000 $0 0 D
Common Shares $1.58(2) 10/08/2025 M 50,000 12/09/2021 12/08/2026 Common Shares 50,000 $0 0 D
Common Shares $0.56(3) 10/08/2025 M 50,000 12/08/2022 12/07/2027 Common Shares 50,000 $0 0 D
Common Shares $0.42(4) 10/08/2025 M 50,000 12/07/2023 12/06/2028 Common Shares 50,000 $0 0 D
Common Shares $1.09(5) 10/08/2025 M 75,000 12/09/2024 12/09/2029 Common Shares 75,000 $0 0 D
Explanation of Responses:
1. Converted from Canadian exercise price of C$2.52 using an exchange rate of C$1.3952 = US$1.00.
2. Converted from Canadian exercise price of C$2.21 using an exchange rate of C$1.3952 = US$1.00.
3. Converted from Canadian exercise price of C$0.78 using an exchange rate of C$1.3952 = US$1.00.
4. Converted from Canadian exercise price of C$0.59 using an exchange rate of C$1.3952 = US$1.00.
5. Converted from Canadian exercise price of C$1.52 using an exchange rate of C$1.3952 = US$1.00.
6. Average weighted price of C$9.85769 converted to U.S. dollars using an exchange rate of C$1.3952 = US$1.00. The sale price reported above is a weighted average price. These shares were sold in multiple transactions at prices ranging from C$9.70 to C$10.04, inclusive. The reporting person undertakes to provide to Trilogy Metals Inc.,, any security holder of Trilogy Metals Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.
7. Average weighted price of C$9.2554 converted to U.S. dollars using an exchange rate of C$1.4000 = US$1.00. The sale price reported above is a weighted average price. These shares were sold in multiple transactions at prices ranging from C$9.102 to C$9.38, inclusive. The reporting person undertakes to provide to Trilogy Metals Inc.,, any security holder of Trilogy Metals Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.
/s/ Elaine Sanders as attorney-in-fact for William Beckwith Hayden 10/10/2025
** 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 transactions did the Trilogy Metals (TMQ) director report on 10/08/2025 and 10/09/2025?

The director reported conversions/exercises totaling 325,000 shares on 10/08/2025, a sale of 64,294 shares on 10/08/2025 at a weighted average price of $7.06, and a sale of 200,000 shares on 10/09/2025 at a weighted average price of $6.61.

How many Trilogy Metals (TMQ) shares does the reporting director beneficially own after these transactions?

The reporting person beneficially owned 382,685 common shares following the reported transactions.

Were the exercise prices converted from Canadian dollars in the TMQ Form 4?

Yes. The filing discloses conversions from Canadian-dollar exercise prices using an exchange rate of C$1.3952 = US$1.00 (and C$1.4000 in one footnote).

What were the Canadian price ranges for the sold shares reported?

Footnotes state the sold shares on 10/08/2025 were at C$9.70–C$10.04 (weighted avg C$9.85769) and on 10/09/2025 at C$9.102–C$9.38 (weighted avg C$9.2554).

What is the reporting person's relationship to Trilogy Metals in this filing?

The form identifies the reporting person as a Director of Trilogy Metals Inc.

Does the Form 4 show any indirect ownership or group filings for these transactions?

No. The transactions are reported as Direct ownership and the form is filed by one reporting person.
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