Isto Mark 4

What Happened
Mark Isto, a director of Royal Gold, received a grant of 561 phantom stock units (reported as a derivative award) on February 26, 2026. The Form 4 lists the acquisition price as $0.00 and reports the transaction as an award/acquisition (code A). The filing reports $0 value at grant, but the award represents future economic exposure tied to Royal Gold’s common stock.

Key Details

• Transaction date: 2026-02-26; type: Award/acquisition (derivative) of 561 units at $0.00.
• Filing date: 2026-03-02 (filed within the Form 4 reporting window).
• Shares owned after the transaction: Not specified in the provided details.
• Footnote: Each phantom share is the economic equivalent of one common share (phantom stock typically settles in cash or shares per plan terms).
• Transaction code: A = Award/Grant (derivative). No sale, purchase, or tax-withholding reported in this filing.

Context
Phantom stock is a form of compensation that tracks the value of actual shares but doesn’t necessarily transfer legal title immediately; it often settles later in cash or actual shares according to the company’s plan. This award is a compensation event rather than an open-market purchase or sale and should be viewed as routine director compensation rather than a direct buy/sell signal by the insider.