TMQ insider sells 100,000 shares at $6.39 after exercising options
Rhea-AI Filing Summary
Director William I. Iggiagruk Hensley reported same-day option exercise and share sales in Trilogy Metals Inc. (TMQ) on 10/08/2025. He exercised a director stock option to acquire 100,000 common shares at an exercise price of $1.81 per share (U.S. dollar equivalent). Immediately thereafter he sold 100,000 common shares at an average weighted price of $6.39 per share (U.S. dollar equivalent), with sale prices reported in Canadian dollars in the footnote. Following these transactions the reporting person beneficially owns 43,638 common shares directly.
Positive
- None.
Negative
- None.
Insights
TL;DR: Director exercised options then sold the same number of shares, leaving a modest direct stake of 43,638 shares.
The transaction pair shows a typical option exercise followed by an immediate market sale: 100,000 option shares were exercised at $1.81 and the same number of shares were sold at an average of $6.39. This realizes the intrinsic value between exercise price and sale proceeds while maintaining a retained direct holding of 43,638 shares.
The main dependency is the timing and execution of the multiple sale trades that produced the weighted average price range in Canadian dollars; this creates realized proceeds but does not change disclosure of remaining direct ownership. Monitor public filings for any subsequent sales or exercises within the next quarter as routine insider liquidity events often continue in that period.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Director Stock Option (Right to Buy) | 100,000 | $0.00 | -- |
| Exercise | Common Shares | 100,000 | $1.81 | $181K |
| Sale | Common Shares | 100,000 | $6.39 | $639K |
Footnotes (1)
- Converted from Canadian exercise price of C$2.52 using an exchange rate of C$1.3952 = US$1.00. Average weighted price of C$8.921578 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$8.887 to C$9.0213, 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.
