ROYAL GOLD INC - Director's Dealing 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ROYAL GOLD INC (RGLD)
CIK: 0000085535
Period of Report: 2009-11-17

Reporting Person: MARCUS MERRITT E (Director)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-11-17	Common Stock	M	5000	$19.71	Acquired	54338	Direct
2009-11-17	Common Stock	M	5000	$18.75	Acquired	59338	Direct
2009-11-17	Common Stock	M	2500	$17.38	Acquired	61838	Direct
2009-11-17	Common Stock	M	2500	$23.61	Acquired	64338	Direct
2009-11-17	Common Stock	M	2500	$29.2	Acquired	66838	Direct
2009-11-17	Common Stock	G	17500	—	Disposed	49338	Direct
2009-11-17	Common Stock	G	17500	—	Acquired	158155	Indirect

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-11-17	Stock Option (NSO right to buy)	$19.77	M	5000	Disposed	2012-11-12	Common Stock (5000)	Direct
2009-11-17	Stock Option (NSO right to buy)	$18.75	M	5000	Disposed	2013-11-11	Common Stock (5000)	Direct
2009-11-17	Stock Option (NSO right to buy)	$17.38	M	2500	Disposed	2014-11-10	Common Stock (2500)	Direct
2009-11-17	Stock Option (NSO right to buy)	$23.61	M	2500	Disposed	2015-11-09	Common Stock (2500)	Direct
2009-11-17	Stock Option (NSO right to buy)	$29.2	M	2500	Disposed	2016-11-08	Common Stock (2500)	Direct

F1: Includes 1,250 shares of restricted stock that have not yet vested.

F2: 50% were exerciseable on the grant date; the remaining 50% were exerciseable on November 12, 2003, one year after the grant.

F3: 50% were exerciseable on the grant date; the remaining 50% were exerciseable on November 11, 2004, one year after the grant.

F4: 50% were exerciseable on the grant date; the remaining 50% were exerciseable on November 10, 2005, one year after the grant.

F5: 50% were exerciseable on the grant date; the remaining 50% were exerciseable on November 9, 2006, one year after the grant.

F6: 50% were exerciseable on the grant date; the remaining 50% were exerciseable on November 8, 2007, one year after the grant.