Veenman Sybil E 4

What Happened
Sybil E. Veenman, a director of Royal Gold, Inc. (RGLD), was granted 561 phantom shares on February 26, 2026. The grant is recorded as an award/acquisition at $0.00 per unit (derivative instrument), so no cash was paid in connection with this award. The filing was made on March 2, 2026.

Key Details

• Transaction date: 2026-02-26; Filing date: 2026-03-02.
• Transaction type/code: Grant/Award (A); 561 units acquired at $0.00 each.
• Reported value: $0 (derivative award, not an open-market purchase).
• Shares owned after the transaction: Not disclosed in the provided Form 4 excerpt.
• Footnote: Each phantom share is the economic equivalent of one common share (Footnote F1).
• No indication in this filing that shares were sold or exercised; this is a compensation award.

Context
Phantom stock is a derivative compensation vehicle that mirrors the economic value of common shares but does not necessarily transfer actual shares immediately; payouts or conversion may occur later per plan terms. Director awards like this are a routine form of non-cash compensation intended to align director interests with shareholders; they are not, by themselves, a direct buy or sell signal.