Berry James McCoy 4

What Happened

• James McCoy, Vice President of Exploration at Dakota Gold (DC), exercised 300,000 stock options on Feb 27, 2026 (exercise price $4.64) and received 56,720 shares from vested performance stock units (PSUs). He paid $1,392,000 to exercise the options.
• To cover the exercise price and tax withholding, the issuer withheld 226,568 shares (valued at $6.87 per share, $1,556,522) and McCoy sold an additional 12,388 shares in the open market at a weighted average price of $7.02 for proceeds of $87,012. Combined share-withholding and sales to cover taxes/exercise amounted to ~$1,643,534.
• In net terms, McCoy acquired/kept about 117,764 shares from these transactions (300,000 options + 56,720 PSU shares − 226,568 withheld − 12,388 sold = 117,764).

Key Details

• Transaction date: February 27, 2026; filing date: March 2, 2026 (timely filing).
• Option exercise: 300,000 shares at $4.64 per share (total paid $1,392,000).
• PSU settlements: 56,720 shares converted from vested PSUs (from three prior PSU grants; vested at 84% of target).
• Shares disposed to cover obligations: 226,568 shares withheld at $6.87 (value $1,556,522) + 12,388 shares sold at $7.01–$7.035 (weighted $7.02; proceeds $87,012).
• Shares owned after transaction: not disclosed in the provided filing.
• Footnotes: PSU vesting details and that withheld/sold shares were solely to satisfy exercise price and tax withholding. The filing indicates withholding/sales were routine tax/exercise settlements, not standalone market purchases or sales for investment purposes.

Context

• These transactions combine option exercise and PSU settlement with share withholding and an open-market sale to meet tax and exercise obligations (a common cashless/net exercise pattern). The reported sales were for taxes/withholding, not necessarily a signal of intent to reduce holdings for investment reasons.
• For retail investors: exercises and awards show insiders converting compensation into company stock; the material action here was exercising 300,000 options and receiving PSU shares, with most of those shares used to satisfy tax/price obligations.