Every Form 4 that Trilogy Metals Inc (TMQ) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A Form 4 covers the transactions officers, directors and large holders report, so if you follow TMQ and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full TMQ filings page.
Trilogy Metals Inc. (symbol: TMQ) is the issuer of record for a Form 4 filing submitted to the SEC.
Trilogy Metals Inc. (TMQ) reported a significant insider sale by a major shareholder. South32 International Investment Holdings Proprietary Ltd, a wholly owned subsidiary of South32 Ltd and an indirect beneficial owner of Trilogy Metals shares, agreed to sell 8,215,570 common shares on August 28, 2026.
The shares were sold in a private transaction to the United States Department of Defense for $17,827,785.90, or $2.17 per share, under a Transaction Agreement dated August 28, 2026. Following this sale, South32’s subsidiary reports indirect ownership of 10,379,741 Trilogy Metals common shares.
Trilogy Metals director Diana J. Walters received a grant of 791.68 Deferred Share Units (DSUs) tied to common shares. The DSUs were acquired at a stated price of $0.00 per unit under a non-discretionary election made before the fiscal year began. Her direct DSU holdings increased to 556,685.336 units. The DSUs vest immediately, but the underlying common shares will only be issued, and associated voting and dispositive rights will only arise, after she ceases serving as a director, with the grants expiring no later than 90 days after that termination date.
Trilogy Metals Inc. director William L. Iggiagruk Hensley reported an option exercise paired with a share sale. He exercised 50,000 Common Shares through Director Stock Options at an exercise price of $0.57 per share, converted from C$0.78 using an exchange rate of C$1.3686 = US$1.00. The same day, he executed an open-market sale of 50,000 Common Shares at $4.44 per share, converted from a Canadian sale price of C$6.08 using the same exchange rate. Following these transactions, he directly holds 18,531 Common Shares of Trilogy Metals.
Trilogy Metals director Diana J. Walters exercised stock options for common shares. She converted options into 50,000 Common Shares at an effective exercise price of $1.61 per share on April 23, 2026, increasing her direct holdings to 101,302 Common Shares.
The related Director Stock Option for 50,000 shares was fully exercised and now shows zero derivative securities remaining. The exercise price was originally set in Canadian dollars and converted from C$2.21 using an exchange rate of C$1.3688 = US$1.00.
Trilogy Metals Inc. director Diana J. Walters acquired 814.1200 Deferred Share Units (DSUs) as a grant under a non-discretionary election plan. The DSUs vest immediately, but the underlying common shares are only issued after she leaves the board, and they expire no later than 90 days after her termination date.
Trilogy Metals Inc. director William L. Iggiagruk Hensley reported an open-market sale of 25,107 common shares on February 26, 2026. The weighted average sale price was $4.40 per share, with individual trades executed between $4.39 and $4.40.
After this transaction, Hensley directly holds 18,531 common shares of Trilogy Metals Inc. He noted that detailed trade-by-trade pricing within the stated range is available upon request.
Trilogy Metals Inc. director and 10% owner Thomas Scott Kaplan and affiliated entities reported several internal equity movements dated 12/26/2025. The filing shows a gift of 540,406 common shares to a charitable foundation for no consideration, classified as a transaction code G. It also reports 416,666 common shares moved to an account for the benefit of Mr. Kaplan’s spouse, with those shares now reported as indirectly owned.
Separately, the report lists 31,604,741 common shares held indirectly through Electrum Strategic Opportunities Fund L.P., an investment fund advised by The Electrum Group LLC, with related entities identified. The reporting persons state that they disclaim beneficial ownership of certain securities except to the extent of their pecuniary interest.
Trilogy Metals Inc. reported insider equity transactions by its VP & CFO on a Form 4 for December 11, 2025. The executive acquired 15,000 common shares through the settlement of restricted stock units and now directly owns 3,347,895 common shares.
The filing also shows a grant of an employee stock option for 260,000 common shares with an exercise price of $4.61 per share and an expiration date of December 10, 2030. These options vest in three equal installments on December 11, 2025, 2026, and 2027. In addition, the executive received 45,000 restricted stock units (RSUs), which vest on the same schedule, and holds 30,000 RSUs after 15,000 RSUs were converted into common shares.
Trilogy Metals Inc. insider Tony Giardini, who serves as President, CEO and Director, reported multiple equity transactions dated December 11, 2025. He acquired 60,000 common shares through the settlement of restricted stock units, bringing his directly held beneficial ownership to 8,758,728 common shares following the transactions.
He was also granted an employee stock option for 360,000 common shares at an exercise price of $4.61 per share, expiring on December 10, 2030. These options vest in three equal installments on December 11, 2025, December 11, 2026, and December 11, 2027. In addition, he received 180,000 restricted stock units, which vest in three equal tranches on December 7, 2023, December 7, 2024, and December 7, 2025.
Trilogy Metals Inc. director Diana J. Walters reported receiving a director stock option on December 11, 2025. The option covers 50,000 common shares of Trilogy Metals at an exercise price of $4.61 per share, described as converted from a Canadian exercise price of C$6.35 using an exchange rate of C$1.3774 = US$1.00. The option is exercisable starting on December 11, 2025 and expires on December 10, 2030. Following this grant, Walters beneficially owns 50,000 derivative securities directly.
Trilogy Metals Inc. reported a new stock option grant to a director. On 12/11/2025, the director received a Director Stock Option covering 65,000 common shares at an exercise price of $4.61 per share. The options become exercisable on 12/11/2025 and expire on 12/10/2030, giving the holder the right to buy Trilogy Metals common shares at this fixed price during that period.
The exercise price of $4.61 was derived from a Canadian exercise price of C$6.35 using an exchange rate of C$1.3774 = US$1.00. After this grant, the reporting person beneficially owns 65,000 derivative securities, all held directly. This filing reflects routine equity-based compensation for board service rather than a sale or purchase of existing shares.
Trilogy Metals Inc. reported a director equity award on a Form 4. On 12/11/2025, the director received a stock option to buy 50,000 common shares of Trilogy Metals.
The option has 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 option is exercisable starting 12/11/2025 and expires on 12/10/2030. Following this grant, the director beneficially owns 50,000 derivative securities directly.
Trilogy Metals Inc. director William I. Iggiagruk Hensley reported a stock option grant. On 12/11/2025, he received a director stock option to buy 50,000 common shares of Trilogy Metals at an exercise price of $4.61 per share. The option becomes exercisable on 12/11/2025 and expires on 12/10/2030, giving a five-year window to exercise once it is vested. The U.S. dollar exercise price was calculated from a Canadian dollar exercise price of C$6.35 using an exchange rate of C$1.3774 = US$1.00.
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.
Trilogy Metals Inc. (TMQ) reported an insider equity award for director James Gowans. On 12/11/2025, he received a director stock option covering 50,000 common shares at an exercise price of $4.61 per share. The option is exercisable starting 12/11/2025 and expires on 12/10/2030.
The exercise price was converted from a Canadian exercise price of C$6.35 using an exchange rate of C$1.3774 = US$1.00, so the award is valued and reported in U.S. dollars for disclosure purposes.
Trilogy Metals Inc. (TMQ) reported an insider equity transaction by its Vice President and Chief Financial Officer, Elaine Sanders. On December 7, 2025, 183,334 restricted stock units (RSUs) were converted into common shares at a price of $0 per share, reflecting the vesting and settlement of equity awards rather than an open‑market purchase.
Following this transaction, Sanders directly beneficially owns 3,332,895 common shares of Trilogy Metals. The RSUs originated from a grant on December 7, 2023 that vests in three equal installments on December 7, 2023, December 7, 2024, and December 7, 2025, aligning her compensation with long‑term shareholder value.
Trilogy Metals Inc. reported an insider equity transaction by its President and CEO, Tony Giardini. On December 7, 2025, he acquired 366,668 common shares of Trilogy Metals through the settlement of previously granted restricted stock units (RSUs), coded as an “M” transaction. After this transaction, he directly beneficially owned 8,698,728 common shares.
The RSUs originated from a grant made on December 7, 2023 that vested in three equal installments: one-third on December 7, 2023, one-third on December 7, 2024, and one-third on December 7, 2025. Following the conversion of 366,668 RSUs into common shares at an exercise price of $0, the reported RSU balance in the derivative securities table is 0, reflecting full settlement of this particular grant.
Trilogy Metals Inc. director reports option exercise, share sales, and gift of shares. On 12/05/2025, a director exercised an employee stock option for 50,000 common shares at a U.S. dollar exercise price of $1.82, converted from C$2.52 using an exchange rate of C$1.3860 = US$1.00.
The director then sold 20,000 common shares at $4.73 and a further 50,000 common shares at a weighted average price of $4.77, based on Canadian dollar prices between C$6.55 and C$6.701 converted at the same exchange rate. In addition, the director made a gift of 45,000 common shares at a price of $0.
Following these transactions, the director held 35,000 common shares directly and 252,000 common shares indirectly through a family trust, and held no remaining employee stock options from this grant.
Trilogy Metals Inc. director reports new deferred share units grant
A director of Trilogy Metals Inc. (TMQ) filed a Form 4 reporting a grant of 3,428.772 Deferred Share Units (DSUs) on 12/01/2025 at a price of $0 per unit. After this transaction, the director beneficially owns 555,079.536 derivative securities in the form of DSUs, held directly.
The DSUs were issued on a non-discretionary basis under elections made by plan participants before the start of the current fiscal year. The DSUs vest immediately, but the underlying common shares will not be issued, and the holder will not have voting or dispositive rights in those shares, until the director’s service with the company ends. The grants will expire no later than 90 days after the director’s termination date.
Trilogy Metals Inc. reported a routine insider equity transaction for a director on a Form 4. On 12/01/2025, the director received 3,551.228 Deferred Share Units (DSUs) at an exercise price of $0, coded as an acquisition. Following this grant, the director beneficially owns 644,091.192 derivative securities in the form of DSUs, held directly.
The DSUs were issued on a non-discretionary basis under elections made before the start of the current fiscal year. The DSUs vest immediately, but the underlying common shares will only be issued after the director’s service with Trilogy Metals ends, and no voting or sale rights apply to those shares until that time. The grants will expire no later than 90 days after the director’s termination date.
Trilogy Metals Inc.12/01/2025, he received 3,122.632 Deferred Share Units (DSUs) under a non-discretionary plan, at an exercise price of $0 per unit. After this grant, he beneficially owns 614,032.397 DSUs in total.
The DSUs vest immediately, but the underlying common shares are not issued, and he has no voting or dispositive rights over those shares, until his service as a director ends. The DSU grants will expire no later than 90 days after his termination date. This filing reflects routine director compensation in equity form rather than a market purchase or sale of Trilogy Metals shares.
Trilogy Metals Inc. director reports new deferred share units grant
A director of Trilogy Metals Inc. (TMQ) reported a new equity award effective 12/01/2025. The filing shows an acquisition of 3,122.632 Deferred Share Units (DSUs) at a price of $0, described as a non-discretionary issuance made under elections submitted before the current fiscal year. Following this grant, the director beneficially owns 517,469.243 derivative securities in the form of DSUs on a direct basis.
The DSUs vest immediately, but the underlying common shares will only be issued after the director’s service with Trilogy Metals ends. Until that termination event, the director does not have voting or dispositive rights over the underlying common shares, and the grants will expire no later than 90 days after the termination date.
Trilogy Metals Inc. reported a director equity award using deferred share units (DSUs). On 12/01/2025, director William Beckwith Hayden received 2,816.491 DSUs at an exercise price of $0 per unit. Each DSU represents the right to receive one common share, so the award is tied to 2,816.491 common shares.
After this grant, Hayden beneficially owned 483,208.857 derivative securities in total. The DSUs vest immediately, but the related common shares will only be issued after Hayden’s service as a director ends. Until then, he will not have voting or dispositive rights over the underlying shares, and the grants will expire no later than 90 days after his termination date.
Trilogy Metals Inc. reported a new equity award to director James Gowans in the form of deferred share units (DSUs). On 12/01/2025, Gowans received 3,701.237 DSUs at an exercise price of $0, increasing his total derivative securities beneficially owned to 563,842.599 DSUs.
The DSUs vest immediately, but the underlying common shares will only be issued after Gowans’ service as a director ends. He will not have voting or dispositive rights over the underlying common shares until that termination date, and the grants will expire no later than 90 days after his termination.
Trilogy Metals (TMQ) reported insider activity: President & CEO and Director Tony Giardini exercised stock options on 10/16/2025 and acquired 1,123,400 common shares at $1.79 (converted from C$2.52 at C$1.4048 = $1.00). Following the transactions, he beneficially owns 8,332,060 shares, held directly.
The exercises (code M) covered two option grants: 223,400 shares from options expiring 12/09/2025 and 900,000 shares from options expiring 12/09/2025, with vesting in thirds on 12/10/2020, 12/10/2021, and 12/10/2022.
Trilogy Metals (TMQ): Director insider transaction
On 10/16/2025, a director exercised 100,000 stock options at $1.79 per share (code M) and sold 100,000 common shares at $7.50 per share (code S). Following these transactions, the director directly owned 234,046 common shares. The option exercised was originally priced in Canadian dollars (C$2.52) and the sale price (C$10.53821) was converted using C$1.4048 = US$1.00. The exercised option related to a grant exercisable since 12/10/2020 and expiring 12/09/2025, with 0 derivative securities remaining after the exercise.
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.
Diana J. Walters, a director of Trilogy Metals Inc. (TMQ), reported paired option exercise and sale transactions on 10/08/2025. She exercised 100,000 director stock options with an exercise price of $1.81 (converted from C$2.52) and immediately sold 100,000 common shares at a weighted average sale price of $7.03 (converted from C$9.81), completing multiple sale trades priced between C$9.56 and C$10.07. After these transactions she beneficially owned 51,302 common shares directly.
Trilogy Metals (TMQ) reported insider activity by its VP & CFO, Elaine Sanders. On 10/08/2025, she exercised 450,000 employee stock options at $1.81 per share and sold shares in two transactions: 50,599 shares at a weighted average price of $6.91 and 399,000 shares at a weighted average price of $6.8361. Following these trades, she owned 3,149,561 common shares directly.
The option grant was dated December 10, 2020 and vested in thirds through 2022, with an expiration date of 12/09/2025. Canadian prices were converted using C$1.3952 = US$1.00, as noted in the footnotes.
Trilogy Metals Inc. (TMQ) reporting person Janice Stairs, a company director, disclosed transactions on 10/09/2025. She exercised a stock option for 100,000 shares at a converted exercise price of $1.80 and acquired those shares. On the same day she sold 50,613 common shares at a weighted average sale price of $6.5607 (converted from Canadian dollars using C$1.40 = US$1.00). After these transactions she beneficially owned 508,608 common shares. The exercised option had an original grant/exercise price of C$2.52 (converted) and an expiration date of 12/09/2025. The Form 4 was signed by an attorney-in-fact on 10/10/2025.
Trilogy Metals Inc. (TMQ) reporting person Gregory A. Lang disclosed multiple transactions in the company's common shares and an option exercise in October 2025. On 10/08/2025 he donated 30,000 shares to charity at a reported price of $6.31, leaving 344,181 shares beneficially owned indirectly via a family trust. On 10/09/2025 he exercised an employee stock option for 50,000 shares at an exercise price of $1.80 (converted from C$2.52), acquired those 50,000 shares, and sold a total of 169,181 shares across several transactions at weighted prices of $6.53, $6.57, and $6.77. Following the reported activity the filing lists various post-transaction beneficial holdings, including 352,000 and 252,000 shares tied to the family trust on different lines. The filing includes conversion and weighted-average price notes tied to a C$ to US$ exchange rate of C$1.40 = US$1.00.
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.