ROYAL GOLD INC — Director's Dealing 2017

Aug 19, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ROYAL GOLD INC (RGLD)
CIK: 0000085535
Period of Report: 2017-08-16

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-08-16	Common Stock	F	663	$87.36	Disposed	58054	Direct
2017-08-18	Common Stock	M	7000	$53	Acquired	65054	Direct
2017-08-18	Common Stock	M	6000	$49.66	Acquired	71054	Direct
2017-08-18	Common Stock	M	13500	$62.14	Acquired	84554	Direct
2017-08-18	Common Stock	M	4824	$56.54	Acquired	89368	Direct
2017-08-18	Common Stock	D	16625	$87.01	Disposed	72753	Direct
2017-08-18	Common Stock	S	28805	$86.2832	Disposed	43948	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-08-18	Stock Option (Right to buy ISO)	$53	M	1886	Disposed	2019-11-18	Common Stock (1886)	Direct
2017-08-18	Stock Option (Right to buy ISO)	$49.66	M	2000	Disposed	2020-11-17	Common Stock (2000)	Direct
2017-08-18	Stock Option (Right to buy ISO)	$62.14	M	1609	Disposed	2023-08-27	Common Stock (1609)	Direct
2017-08-18	Stock Option (Right to buy ISO)	$56.54	M	589	Disposed	2025-08-20	Common Stock (589)	Direct
2017-08-18	Stock Appreciation Right (SARs)	$53	M	5114	Disposed	2019-11-18	Common Stock (5114)	Direct
2017-08-18	Stock Appreciation Right (SARs)	$49.66	M	4000	Disposed	2020-11-17	Common Stock (4000)	Direct
2017-08-18	Stock Appreciation Right (SARs)	$62.14	M	11891	Disposed	2023-08-27	Common Stock (11891)	Direct
2017-08-18	Stock Appreciation Right (SARs)	$56.54	M	4235	Disposed	2025-08-20	Common Stock (4235)	Direct

Footnotes

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

F2: Includes 15,594 shares of restricted stock that have not yet vested.

F3: Represents the difference between the number of SARs exercised (25,240) and the number of shares issuable as a result of the exercise (8,615).

F4: The range of the weighted average sales price is $86.10 and $86.57.

F5: Includes 13,927 shares of restricted stock that have not yet vested.