ROYAL GOLD INC — Director's Dealing 2017

Aug 31, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ROYAL GOLD INC (RGLD)
CIK: 0000085535
Period of Report: 2017-08-28

Reporting Person: Anderson Karli S. (VP Investor Relations)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-08-28	Common Stock	M	3000	$50.53	Acquired	20081	Direct
2017-08-28	Common Stock	M	7070	$75.72	Acquired	27151	Direct
2017-08-28	Common Stock	M	7988	$56.54	Acquired	35139	Direct
2017-08-28	Common Stock	F	1943	$92.11	Disposed	33196	Direct
2017-08-28	Common Stock	D	10190	$92.11	Disposed	23006	Direct
2017-08-30	Common Stock	S	2262	$91.45	Disposed	20744	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-08-28	Stock Option (Right to buy ISOs)	$50.53	M	1979	Disposed	2023-05-15	Common Stock (1979)	Direct
2017-08-28	Stock Option (Right to buy ISOs)	$75.72	M	440	Disposed	2024-08-26	Common Stock (440)	Direct
2017-08-28	Stock Option (Right to buy ISOs)	$56.54	M	1179	Disposed	2025-08-20	Common Stock (1179)	Direct
2017-08-28	Stock Appreciation Rights (SARs)	$50.53	M	1021	Disposed	2023-05-15	Common Stock (1021)	Direct
2017-08-28	Stock Appreciation Rights (SARs)	$75.72	M	6630	Disposed	2024-08-26	Common Stock (6630)	Direct
2017-08-28	Stock Appreciation Rights (SARs)	$56.54	M	6809	Disposed	2025-08-20	Common Stock (6809)	Direct

Footnotes

F1: Represents shares withheld to satisfy taxes; no shares were sold.

F2: Represents the difference between the number of SARs exercised (14,460) and the number of shares issuable as a result of the exercise (4,270).

F3: One-third vest annually over 3 years beginning on May 15, 2014.

F4: One-third vest annually over 3 years beginning on August 26, 2015.

F5: One-third vest annually over 3 years beginning on August 20, 2016.