ROYAL GOLD INC — Director's Dealing 2016

Jun 23, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ROYAL GOLD INC (RGLD)
CIK: 0000085535
Period of Report: 2016-06-20

Reporting Person: Kirchhoff Bruce Christopher (VP, GC and Corp Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-06-20	Common Stock	M	7000	$30.96	Acquired	64382	Direct
2016-06-20	Common Stock	D	3211	$67.51	Disposed	61171	Direct
2016-06-20	Common Stock	F	1727	$67.51	Disposed	59444	Direct
2016-06-22	Common Stock	S	3333	$66.19	Disposed	56111	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-06-20	Stock Appreciation Rights	$30.96	M	7000	Disposed	2018-11-05	Common Stock (7000)	Direct

Footnotes

F1: Includes 21,070 shares of restricted stock that have not yet vested.

F2: This represents the difference between the number of SARs exercised (7,000) and the number of shares issued as a result of the exercise (3,789).

F3: Represents shares withheld to satisfy taxes; no shares were sold.

F4: The range of the weighted average sales price is $65.65 to $66.65.