Vista Gold director granted 24,000 deferred units

Vista Gold Corp director Patrick F. Keenan received a grant of 24,000 Deferred Share Units, each economically equivalent to one common share.

Accepted by SEC EDGAR 03/17/2026 - 10:59 AM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Vista Gold Corp director Patrick F. Keenan received a grant of 24,000 Deferred Share Units, each economically equivalent to one common share. Following this award, he holds 251,000 Deferred Share Units in total.

The units vest immediately on issuance but only convert into common shares when he leaves the board. Until that separation, he has no voting or sale rights over the underlying common shares, and the grants will expire no later than December 1 of the year after his separation year.

Insider Trade Summary

Grant/Award: 24,000 shares

Grant/Award 1 txn

Insider KEENAN PATRICK F.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Deferred Share Units	24,000	$0.00	$0.00

Holdings After Transaction: Deferred Share Units — 251,000 contracts (Direct)

Holdings Before and After: Deferred Share Units, 227,000 to 251,000 contracts (Direct)

Footnotes (1)

1. F1. Each Deferred Share Unit ("DSU") is the economic equivalent of one of the Issuer's common shares. The DSUs vest immediately upon issuance; however, the underlying common shares will not be issued to the reporting person, and the reporting person shall not have any voting or dispositive rights with respect to the underlying common shares, until the separation of the reporting person as a director of the Issuer. The grants will expire no later than December 1 of the year following the calendar year in which separation occurs.

FAQ

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

What insider transaction did Vista Gold Corp (VGZ) report for Patrick F. Keenan?

Vista Gold Corp reported a grant of 24,000 Deferred Share Units to director Patrick F. Keenan. These units are part of his equity compensation and increase his total Deferred Share Unit holdings to 251,000, all economically equivalent to common shares.

What are Deferred Share Units granted to Vista Gold (VGZ) director Patrick F. Keenan?

Each Deferred Share Unit is the economic equivalent of one Vista Gold common share. The units vest immediately but settle in actual shares only when the director leaves the board, aligning director compensation with long-term shareholder value over his service period.

When will Patrick F. Keenan receive Vista Gold (VGZ) common shares for his Deferred Share Units?

The underlying Vista Gold common shares will be issued to Patrick F. Keenan only upon his separation as a director. Until that separation event, he holds Deferred Share Units, not actual common shares, even though each unit tracks the value of one share.

Does Patrick F. Keenan have voting rights for Vista Gold (VGZ) shares underlying his Deferred Share Units?

He does not have voting or dispositive rights over the underlying common shares while he holds Deferred Share Units. Those rights arise only when the Deferred Share Units settle into actual Vista Gold common shares after he separates from the board.

How many Deferred Share Units does Vista Gold (VGZ) director Patrick F. Keenan hold after this Form 4?

After the 24,000-unit grant reported on the Form 4, Patrick F. Keenan holds a total of 251,000 Deferred Share Units. Each one is economically equivalent to a common share and is part of his director compensation linked to company performance.

When do Patrick F. Keenan’s Vista Gold (VGZ) Deferred Share Units expire?

The grants will expire no later than December 1 of the year following the calendar year in which he separates as a director. This outer limit defines how long the Deferred Share Units can remain outstanding after his board service ends.

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

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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^*

KEENAN PATRICK F.

(Last) (First) (Middle)

C/O VISTA GOLD CORP.

8310 S. VALLEY HIGHWAY, SUITE 300

(Street)

ENGLEWOOD CO 80112

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
VISTA GOLD CORP [ VGZ ]

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)
03/13/2026

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
Deferred Share Units	(1)	03/13/2026		A		24,000		(1)	(1)	Common Shares	24,000	$0	251,000	D

Explanation of Responses:

1. Each Deferred Share Unit ("DSU") is the economic equivalent of one of the Issuer's common shares. The DSUs vest immediately upon issuance; however, the underlying common shares will not be issued to the reporting person, and the reporting person shall not have any voting or dispositive rights with respect to the underlying common shares, until the separation of the reporting person as a director of the Issuer. The grants will expire no later than December 1 of the year following the calendar year in which separation occurs.

	/s/ Glenn Cowan as attorney-in-fact for Patrick F. Keenan	03/17/2026
	** 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.
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