ROYAL GOLD INC - Director's Dealing 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ROYAL GOLD INC (RGLD)
CIK: 0000085535
Period of Report: 2014-08-26

Reporting Person: JENSEN TONY A (President and CEO)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-08-26	Common Stock	A	10800	—	Acquired	211014	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-08-26	Stock Option (right to buy-ISO)	$75.71	A	1320	Acquired	2024-08-26	Common Stock (1320)	Direct
2014-08-26	Stock Appreciation Right	$75.71	A	32280	Acquired	2024-08-26	Common Stock (32280)	Direct
2014-08-26	Performance Shares	$0	A	14000	Acquired	2024-08-26	Common Stock (14000)	Direct

F1: Grant of restricted stock with a two year hold and then vesting as to one-third in years 3, 4 and 5.

F2: Includes 31,466 shares of restricted stock that have not yet vested.

F3: One-third vests annually over three years beginning on August 26, 2015.

F4: A performance award represents a contingent right to receive shares of common stock upon achievement of certain performance goals.