Lyon Mckinsey Margaret 4

What Happened

• Margaret Lyon Mckinsey, Senior Vice President, External Affairs (Perpetua Resources Idaho, Inc., a Perpetua subsidiary), reported sales on Feb 12, 2026 and a conversion/exercise on Feb 16, 2026. She sold 6,270 shares at a weighted average price of $27.54 (proceeds ~$172,676) and 37,452 shares at a weighted average price of $27.58 (proceeds ~$1,032,926), totaling roughly $1.206M. On Feb 16 she also had an exercise/conversion (reported as code M) that resulted in 13,636 shares being acquired and simultaneously recorded as disposed (reported at $0), consistent with a settlement/conversion event.
• These sales were made to cover tax withholding obligations related to equity awards (restricted share units and performance share units) that vested and were settled in common shares.

Key Details

• Transaction dates & prices:
  • 2026-02-12: Sale of 6,270 shares @ $27.54 (≈ $172,676) — weighted average
  • 2026-02-12: Sale of 37,452 shares @ $27.58 (≈ $1,032,926) — weighted average
  • 2026-02-16: Exercise/conversion (M) — 13,636 shares acquired and 13,636 shares reported disposed at $0 (settlement/conversion)
• Total cash proceeds from the reported sales: ≈ $1.2056 million.
• Shares owned after the transactions: not specified in the provided filing extract.
• Notable footnotes:
  • Sales on Feb 12 were to cover tax withholding in connection with RSUs and Performance Share Units that vested and were settled in common shares (Footnotes F1, F3).
  • Reported sale prices are weighted averages; actual sale prices ranged roughly between $27.39 and $27.93 (conversion to USD and ranges noted in F2/F4).
  • Footnote F5/F6 indicate RSUs vested and were settled on Feb 16 and that certain RSUs were originally granted on Feb 16, 2024.
• Filing: Form 4 filed on 2026-02-17 reporting transactions through Feb 16, 2026.

Context

• The Feb 12 sales were routine tax-withholding dispositions following vesting of equity awards — common for insiders and not necessarily a signal of negative views on the company.
• The Feb 16 M-code entry reflects conversion/exercise/settlement of equity awards (RSUs/derivatives). The simultaneous acquisition and $0 disposal often reflects settlement mechanics (shares issued and then used to satisfy withholding or returned in settlement), not an open-market sale for cash.
• As with all insider activity, purchases tend to be more informative than withholding sales; these transactions appear to be administrative in nature.