ROYAL GOLD INC — Director's Dealing 2012

Sep 18, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ROYAL GOLD INC (RGLD)
CIK: 0000085535
Period of Report: 2012-09-14

Reporting Person: GROSS KAREN (VP and Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-09-14	Common Stock	M	10500	$22.22	Acquired	110595	Direct
2012-09-14	Common Stock	M	9050	$28.78	Acquired	119645	Direct
2012-09-14	Common Stock	M	9140	$29.75	Acquired	128785	Direct
2012-09-14	Common Stock	F	8437	$94.37	Disposed	120348	Direct
2012-09-14	Common Stock	S	20253	$94.37	Disposed	100095	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-09-14	Stock Option (Right to buy NSO)	$22.22	M	10500	Disposed	2015-11-08	Common Stock (10500)	Direct
2012-09-14	Stock Option (Right to buy NSO)	$28.78	M	9050	Disposed	2016-11-07	Common Stock (9050)	Direct
2012-09-14	Stock Option (Right to buy NSO)	$29.75	M	9140	Disposed	2017-11-07	Common Stock (9140)	Direct

Footnotes

F1: Includes 22,001 shares of restricted stock that have not yet vested.

F2: The range of the weighted average sale price is $94.35 to $94.57.