Trilogy Metals (TMQ) Director Diana J. Walters Receives Award

What Happened

• Diana J. Walters, a director of Trilogy Metals Inc. (TMQ), was granted 950.901 derivative units (reported as shares) on 2026-09-01. The units were awarded at $0.00 per unit (no cash paid) and reported as an "A" (award/grant) transaction on the Form 4.

Key Details

• Transaction date: 2026-09-01; Price: $0.00 per unit; Total reported value at grant: $0 (derivative award).
• Instrument: Deferred Stock Units (DSUs) — reported as derivative securities rather than issued common shares.
• Shares owned after transaction: not specified in the Form 4.
• Footnotes: F1 — non‑discretionary DSU issuances per prior participant elections; F2 — DSUs vest immediately but underlying common shares and voting/dispositive rights are deferred until the grantee’s termination of service; grants expire no later than 90 days after termination.
• Timeliness: Filing date matches transaction date (no late filing indicated).

Context

• These DSUs are a form of deferred compensation for directors. They are not the same as immediately tradable common shares and do not convey voting rights until converted after the director leaves service. Such awards are common for board compensation and do not by themselves signal a buy or sell decision by the insider.