Dakota Gold (DC) Director Jennifer Grafton Exercises Options, Sells Shares

What Happened

• Jennifer S. Grafton, a director of Dakota Gold Corp. (DC), exercised/converted 200,000 shares of common stock on Aug 10, 2026 (two derivative transactions) and sold 100,000 shares the same day.
• Transactions reported: exercised 100,000 shares at $5.09 per share (cost $509,000) and exercised/conversion of 100,000 shares at $0.00 (no cash paid). She sold 100,000 shares in the open market for total proceeds of $611,690 (weighted average sale price $6.1169).
• This sequence appears to be an exercise of vested options/derivatives with an immediate partial sale (common for covering exercise costs or taking gains); exercises are acquisitions (bullish signal), the sale is a disposition and may be routine.

Key Details

• Dates: All transactions occurred on 2026-08-10; Form 4 filed 2026-08-12 (reported within the usual 2-business-day window).
• Prices & amounts: Exercise 100,000 @ $5.09 = $509,000; Exercise 100,000 @ $0.00 = $0; Sale 100,000 @ weighted avg $6.1169 = $611,690. Footnote indicates the sale was executed in multiple transactions at prices ranging $6.145–$6.155; issuer/staff can request per-trade breakdown (F1).
• Net position change from these transactions: acquired 200,000 shares and sold 100,000 shares—net increase of 100,000 shares (the filing does not state total shares owned after the trades).
• Footnote F2: the options involved vested in one-third tranches on 9/13/2021, 9/13/2022 and 9/13/2023.
• No indication in the filing of a 10b5-1 plan, gift, or tax-withholding share-for-fee; filing appears timely.

Context

• Because Grafton exercised options and sold shares the same day, this resembles a cashless or partial-cover transaction: exercised shares were acquired and a portion was immediately sold. That is a common way to cover exercise costs or realize gains and does not by itself imply a change in opinion on the company.
• For retail investors, purchases (acquisitions) tend to be more informative than routine sales, but here the insider net-acquired 100,000 shares overall.