ROYAL GOLD INC - Director's Dealing 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ROYAL GOLD INC (RGLD)
CIK: 0000085535
Period of Report: 2016-08-16

Reporting Person: Isto Mark (VP Operations)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-08-16	Common Stock	M	3022	—	Acquired	9654	Direct
2016-08-16	Common Stock	F	179	—	Disposed	9475	Direct
2016-08-16	Common Stock	A	2760	—	Acquired	12235	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-08-16	Performance Shares	$0	M	3022	Disposed	2020-08-20	Common Stock (3022)	Direct
2016-08-16	Stock Option (ISO-Right to Buy)	$83.29	A	1200	Acquired	2026-08-16	Common Stock (1200)	Direct
2016-08-16	Stock Appreciation Rights	$83.29	A	6610	Acquired	2026-08-16	Common Stock (6610)	Direct
2016-08-16	Performance Shares	$0	A	2870	Acquired	2019-08-16	Common Stock (2870)	Direct
2016-08-16	Performance Shares	$0	A	2870	Acquired	2021-08-16	Common Stock (2870)	Direct

F1: Includes 6,342 shares of restricted stock that have not vested.

F2: Represents shares withheld to satisfy taxes; no shares were sold.

F3: Grant of restricted stock with a 2-year hold and then vesting as to one-third in years 3, 4 and 5.

F4: Includes 9,102 shares of restricted stock that have not vested.

F5: A performance award represents a contingent right to receive shares of common stock upon achievement of certain performance goals.

F6: One-third vests annually over 3 years beginning on August 16, 2017.