QUARTERMAIN ROBERT 4
4 · Dakota Gold Corp. · Filed Apr 15, 2026
Research Summary
AI-generated summary of this filing
Dakota Gold (DC) CEO Robert Quartermain Exercises Options, Sells Shares
What Happened
Robert Quartermain, CEO of Dakota Gold Corp. (DC), exercised 275,000 stock options on April 13, 2026. The options had an exercise price of $4.76 per share (total exercise value $1,309,000). To cover the exercise price the company withheld 226,863 shares (valued at $5.77/share based on the April 13 closing price). Separately, 13,448 shares were sold in the open market at an average of $5.61/share to satisfy tax withholding obligations (proceeds about $75,443). The filing also shows the derivative/options position was converted into common stock (options cancelled on conversion).
Key Details
- Transaction dates: April 13, 2026 (exercise, withholding); April 15, 2026 (open-market sale reported).
- Prices and amounts:
- Exercised 275,000 options @ $4.76 (exercise value $1,309,000). (Code M)
- 226,863 shares withheld by issuer to pay the exercise price @ $5.77 (value $1,309,000). (Code F)
- 13,448 shares sold in the open market @ avg $5.61 (proceeds ~$75,443) to satisfy tax withholding. (Code S / F)
- Options reported as disposed/converted (shown at $0 in filing) when converted to shares.
- Net shares retained from this exercise: 275,000 - 226,863 (withheld) - 13,448 (sold) = 34,689 shares added to Quartermain’s holdings (based on the filing’s transaction amounts).
- Vesting note: the options vested one-third on each of May 17, 2021, 2022 and 2023. (Footnote F3)
- Footnotes: F1 explains the share withholding to pay the exercise price using the April 13 closing price; F2 explains the tax-withholding shares were sold at $5.60–$5.61; F3 details the vesting schedule.
- Filing timeliness: marked as late (transactionTimeliness = 'L') in the record.
Context
- This was primarily an option exercise (acquisition) with portions of the new shares withheld or sold to cover the exercise cost and tax withholding — a common cashless exercise/tax-withholding pattern, not necessarily a discretionary sale for cash.
- The small open-market sale (13,448 shares) was to meet tax obligations rather than an indication of broader selling.
- The filing does not state total post-transaction beneficial ownership explicitly; net retained shares from this event are shown above based on the reported transactions.
Insider Transaction Report
Form 4
QUARTERMAIN ROBERT
DirectorCHIEF EXECUTIVE OFFICER
Transactions
- Exercise/Conversion
COMMON STOCK
2026-04-13$4.76/sh+275,000$1,309,000→ 8,271,675 total - Tax Payment
COMMON STOCK
[F1]2026-04-13$5.77/sh−226,863$1,309,000→ 8,044,812 total - Sale
COMMON STOCK
[F2]2026-04-15$5.61/sh−13,448$75,443→ 8,031,364 total - Exercise/Conversion
STOCK OPTIONS
[F3]2026-04-13−275,000→ 0 totalExercise: $4.76From: 2021-05-17Exp: 2026-05-17→ COMMON STOCK (275,000 underlying)
Footnotes (3)
- [F1]Represents shares of common stock withheld by the Issuer solely for the purposes of paying the exercise price of the stock options in connection with the conversion of the stock options into shares of common stock upon settlement by the Issuer, based on a closing price of $5.77 per share of the common stock on April 13, 2026 on the NYSE American LLC.
- [F2]Represents shares of common stock sold at a weighted average sale price of $5.61 per share to satisfy tax withholding obligations in connection with the conversion of the stock options into shares of common stock upon settlement by the Issuer. These shares were sold in multiple transactions at prices ranging from $5.60 to $5.61. The reporting person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares of common stock sold at each separate price.
- [F3]The options vested one-third on each of May 17, 2021, May 17, 2022, and May 17, 2023.
Signature
/S/ SHAWN CAMPBELL, BY POWER OF ATTORNEY|2026-04-15