ROYAL GOLD INC - Director's Dealing 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ROYAL GOLD INC (RGLD)
CIK: 0000085535
Period of Report: 2017-08-23

Reporting Person: Isto Mark (VP Operations)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-08-23	Common Stock	M	3256	—	Acquired	16047	Direct
2017-08-23	Common Stock	A	3150	—	Acquired	19197	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-08-23	Performance Shares	$0	M	1718	Disposed	2020-08-20	Common Stock (1718)	Direct
2017-08-23	Performance Shares	$0	M	1538	Disposed	2021-08-16	Common Stock (1538)	Direct
2017-08-23	Stock Option (Right to Buy ISOs)	$87.42	A	1143	Acquired	2027-08-23	Common Stock (1143)	Direct
2017-08-23	Stock Appreciation Rights (SSARs)	$87.42	A	7497	Acquired	2027-08-23	Common Stock (7497)	Direct

F1: Includes 9,102 shares of restricted stock that have not vested.

F2: Grant of resticted stock units with a 2-year hold and then vesting as to one-third in years 3, 4 and 5.

F3: Includes 12,252 shares of restricted stock or restricted stock units that have not vested.

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

F5: One-third vest annually over 3 years beginning on August 23, 2018.