U.S. Gold director gets 19,589 options, 11,271 units

Q: How many shares did USAU director Luke Anthony Norman receive in awards?

Luke Anthony Norman received 11,271 deferred stock units and 19,589 stock options on September 28, 2026. The options cover 19,589 shares of common stock.

Q: When do Luke Anthony Norman’s USAU stock options vest and expire?

The 19,589 options vest on the first anniversary of the grant date, provided Norman remains in continuous service through that date. They have a $14.80 exercise price and expire September 28, 2031.

Q: When do the USAU deferred stock units vest?

The 11,271 deferred stock units become service-satisfied on the first anniversary of the grant date, subject to continuous service through that date. The portion that has become service-satisfied vests when Norman ceases to serve as a member of the board.

The options vest on the first anniversary if service continues; deferred stock units become service-satisfied then and vest upon cessation of board service.

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Filing Sentiment

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Rhea-AI Filing Summary

U.S. Gold Corp. director Luke Anthony Norman acquired 19,589 stock options and 11,271 deferred stock units on September 28, 2026, as awards under the company’s 2020 Stock Incentive Plan. The options have a $14.80 exercise price, vest on the first anniversary of the grant date if he remains in continuous service, and expire September 28, 2031. The deferred stock units become service-satisfied on the first anniversary, subject to continuous service, and the portion that has become service-satisfied vests when his board service ends. After the grant, he reported 191,913 shares directly owned and 278,759 shares held indirectly through Luke Norman Consulting Limited, which he owns 100%.

Insider Trade Summary

Grant/Award: 30,860 shares

Grant/Award 3 txns

Insider NORMAN LUKE ANTHONY

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Stock Options ^F2	19,589	$0.00	$0.00
Grant/Award	Common Stock ^{F1, F4}	11,271	$0.00	$0.00
holding	Common Stock ^F3	--	--	--

Holdings After Transaction: Stock Options — 19,589 contracts (Direct); Common Stock — 191,913 shares (Direct); Common Stock — 278,759 shares (Indirect, By Luke Norman Consulting Limited)

Footnotes (4)

F1. Represents deferred stock units granted to the reporting person pursuant to the U.S. Gold Corp. Amended and Restated 2020 Stock Incentive Plan. The deferred stock units become service-satisfied on the first anniversary of the grant date, subject to the reporting person's continuous service through that date. The portion of the deferred stock units that have become service-satisfied will vest upon the reporting person's cessation of service as a member of the Board.
F2. Represents options granted to the reporting person pursuant to the U.S. Gold Corp. Amended and Restated 2020 Stock Incentive Plan. The options vest on the first anniversary of the grant date, subject to the reporting person's continuous service through that date.
F3. Luke Norman Consulting Limited is 100% owned by the reporting person.
F4. The reporting person's Form 4 reporting transactions on January 21, 2026, reported 449,401 shares as directly owned. That amount included 268,759 shares then held indirectly through Luke Norman Consulting Limited. The amount reported in this row reflects the number of shares directly owned by the reporting person.

Key Figures

Stock options: 19,589 options Deferred stock units: 11,271 shares Exercise price: $14.80 per share +3 more

6 metrics

Stock options 19,589 options Granted September 28, 2026; cover 19,589 shares of common stock

Deferred stock units 11,271 shares Granted September 28, 2026

Exercise price $14.80 per share Stock options granted September 28, 2026

Option expiration September 28, 2031 Options granted September 28, 2026

Direct common shares 191,913 shares Reported following the September 28, 2026 transaction

Indirect common shares 278,759 shares Held through Luke Norman Consulting Limited

Key Terms

deferred stock units, Amended and Restated 2020 Stock Incentive Plan, service-satisfied, exercise price

4 terms

deferred stock units financial

"Represents deferred stock units granted to the reporting person"

Deferred stock units are promises from a company to give an employee shares of stock at a future date, often after certain conditions are met or after leaving the company. They function like a form of delayed compensation, allowing employees to earn shares over time. For investors, they represent potential future ownership in the company, but do not provide immediate voting rights or dividends until the shares are actually received.

Amended and Restated 2020 Stock Incentive Plan financial

"pursuant to the U.S. Gold Corp. Amended and Restated 2020 Stock Incentive Plan"

service-satisfied financial

"become service-satisfied on the first anniversary of the grant date"

exercise price financial

"Options granted with a $14.80 exercise price"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares did USAU director Luke Anthony Norman receive in awards?

Luke Anthony Norman received 11,271 deferred stock units and 19,589 stock options on September 28, 2026. The options cover 19,589 shares of common stock.

When do Luke Anthony Norman’s USAU stock options vest and expire?

The 19,589 options vest on the first anniversary of the grant date, provided Norman remains in continuous service through that date. They have a $14.80 exercise price and expire September 28, 2031.

When do the USAU deferred stock units vest?

The 11,271 deferred stock units become service-satisfied on the first anniversary of the grant date, subject to continuous service through that date. The portion that has become service-satisfied vests when Norman ceases to serve as a member of the board.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/29/2026 - 05:50 PM Accepted by SEC EDGAR 09/29/2026 - 05:49 PM

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^*

NORMAN LUKE ANTHONY

(Last)

(First)

(Middle)

C/O U.S. GOLD CORP

1910 E. IDAHO STREET, SUITE 102-BOX 60

(Street)

ELKO,

NEVADA

89801

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
U.S. GOLD CORP. [ USAU ]

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

3. Date of Earliest Transaction (Month/Day/Year)
09/28/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	09/28/2026		A		11,271⁽¹⁾	A	$0	191,913⁽⁴⁾	D
Common Stock								278,759	I	By Luke Norman Consulting Limited⁽³⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Options	$14.8	09/28/2026		A		19,589		⁽²⁾	09/28/2031	Common Stock	19,589	$0	19,589	D

Explanation of Responses:

1. Represents deferred stock units granted to the reporting person pursuant to the U.S. Gold Corp. Amended and Restated 2020 Stock Incentive Plan. The deferred stock units become service-satisfied on the first anniversary of the grant date, subject to the reporting person's continuous service through that date. The portion of the deferred stock units that have become service-satisfied will vest upon the reporting person's cessation of service as a member of the Board.

2. Represents options granted to the reporting person pursuant to the U.S. Gold Corp. Amended and Restated 2020 Stock Incentive Plan. The options vest on the first anniversary of the grant date, subject to the reporting person's continuous service through that date.

3. Luke Norman Consulting Limited is 100% owned by the reporting person.

4. The reporting person's Form 4 reporting transactions on January 21, 2026, reported 449,401 shares as directly owned. That amount included 268,759 shares then held indirectly through Luke Norman Consulting Limited. The amount reported in this row reflects the number of shares directly owned by the reporting person.

	/s/ Eric Alexander, as Attorney-in-Fact for Luke Anthony Norman	09/29/2026
	** 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)

Source: View Original Filing on SEC EDGAR