ROYAL GOLD INC — Director's Dealing 2007

Nov 21, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ROYAL GOLD INC (RGLD)
CIK: 0000085535
Period of Report: 2007-11-07

Reporting Person: Heissenbuttel William Holmes (V.P. Corporate Development)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-11-07	Common stock	A	10000	—	Acquired	17290	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-11-07	Stock option (ISO right to buy)	$29.75	M	3360	Acquired	2017-11-07	Common stock (3360)	Direct
2007-11-07	Stock option (NSO right to buy)	$29.75	M	6640	Acquired	2017-11-07	Common stock (6640)	Direct
2007-11-07	Performance Shares	$0	A	7500	Acquired	2012-11-07	Common stock (7500)	Direct

Footnotes

F1: One-third vests annually over three years beginning in November 7, 2008.

F2: A performance award represents a contingent right to receive shares of common stock upon achievement of certain performance goals.

F3: Grant of restricted stock with a three year hold and then vesting as to one-third in years 4,5, and 6.

F4: Includes 15,000 restricted shares that have not yet vested.