ROYAL GOLD INC — Director's Dealing 2012

Oct 1, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ROYAL GOLD INC (RGLD)
CIK: 0000085535
Period of Report: 2012-09-27

Reporting Person: WENGER STEFAN (CFO and Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-06-27	Common Stock	M	7000	$30.96	Acquired	97354	Direct
2012-09-27	Common Stock	D	2198	$98.63	Disposed	95156	Direct
2012-09-27	Common Stock	F	1953	$96.13	Disposed	93203	Direct
2012-09-27	Common Stock	S	1347	$96.13	Disposed	91856	Direct
2012-09-27	Common Stock	G	1000	—	Disposed	90856	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-09-27	Stock Appreciation Right	$30.96	M	7000	Disposed	2018-11-05	Common Stock (7000)	Direct

Footnotes

F1: Includes 43,001 shares of restricted stock that have not yet vested.

F2: The range of the weighted average sale price is $96.12 to $96.18.