U.S. GoldMining (USGO) Director Laura Schmidt Converts 250 RSUs

What Happened

• Laura Schmidt, a director of U.S. GoldMining Inc. (USGO), had 250 restricted stock units (RSUs) convert into 250 common shares on September 16, 2026. The Form 4 shows 250 shares "acquired" via exercise/conversion (derivative code M) and 250 shares "disposed" at $0.00 on the same date.
• The conversion had no cash purchase price (acquired price listed as N/A) and the disposed shares are reported with a $0 value. The filing does not list a cash value exchanged for the disposed shares.

Key Details

• Transaction date: 2026-09-16; Form 4 filed: 2026-09-18 (appears to be timely, within the typical two-business-day window).
• Acquired: 250 shares via conversion/exercise of a derivative (RSU) — price N/A.
• Disposed: 250 shares reported at $0.00 (derivative code M).
• Shares owned after the transaction: not specified in the provided extract.
• Relevant footnotes:
  • F1: Each RSU represents the right to receive one share at settlement.
  • F2: On Dec 16, 2025, Schmidt was granted 1,000 RSUs vesting in four equal installments (250 each at 3, 6, 9 and 12 months); the Sept 16, 2026 event corresponds to the 9‑month vesting tranche.
• No 10b5-1 plan, tax withholding method, or explicit cash consideration is stated in the provided filing.

Context

• For RSUs, it’s common for vested units to convert into shares and for a portion of shares to be withheld or surrendered to cover taxes or other withholding obligations; the simultaneous "disposed" line at $0.00 is consistent with that practice, though the filing does not explicitly state the reason.
• This transaction reflects grant vesting and conversion rather than an open‑market purchase or sale; such conversions are routine compensation events and do not necessarily indicate the director’s market view.