Silver Bow (SBMT) Director McMullin Receives 112,821-Unit Award

What Happened

• David Daisel McMullin, a director of Silver Bow Mining Corp. (SBMT), received two awards on 2026-08-26: 2,821 restricted stock units (RSUs) and 110,000 derivative awards (stock options or similar) — both granted with a reported acquisition price of $0.00. The total award count is 112,821 units (2,821 RSUs + 110,000 derivative units).

Key Details

• Transaction date: 2026-08-26; Form 4 filed: 2026-08-28 (no late filing flag shown).
• Prices reported: $0.00 per share/unit for both awards; reported total cash value = $0.
• RSU terms (F1): 100% of the RSUs vest and convert into common shares upon the earliest of (i) a change in control, (ii) sale of a majority of the company’s assets, or (iii) the reporting person’s departure from the board.
• Derivative award terms (F2): the 110,000 derivative awards vest one‑third on the first anniversary of the grant and one‑third on each subsequent anniversary, subject to continued service.
• Shares owned after the transaction: not specified in the provided filing data.

Context

• These are award grants (not open-market purchases or sales). RSUs only convert to shares on specified corporate events or board departure, while the derivative awards vest over time with continued service — both are common forms of executive/director compensation rather than immediate purchases indicating market conviction.
• No cashless exercise or immediate sale is reported here; the filing documents only the grant of awards.