Trilogy Metals Inc. — Director's Dealing 2020

Jun 2, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Trilogy Metals Inc. (TMQ)
CIK: 0001543418
Period of Report: 2020-06-01

Reporting Person: Giardini Tony (Director, President and CEO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-06-01	Deferred Share Units	$0	A	2722.37	Acquired		Common Stock (2722.37)	Direct
2020-06-01	Employee Stock Option (Right to Buy)	$1.92	A	1600000	Acquired	2025-05-31	Common Shares (1600000)	Direct
2020-06-01	Employee Stock Option (Right to Buy)	$1.92	A	170000	Acquired	2025-05-31	Common Shares (170000)	Direct

Footnotes

F1: Non-discretionary issuances of DSUs pursuant to elections made by plan participants prior to the commencement of the current fiscal year.

F2: The deferred share units vest immediately; however, the underlying common shares will not be issued to the grantee, and the grantee shall not have any voting or dispositive rights with respect to the underlying common shares, until termination of the grantee's employment or services as a director of the Issuer. The grants will expire no later than 90 days after the grantee's termination date.

F3: The options vest as follows: 1/3 on 6/1/2020; 1/3 on 6/1/2021; 1/3 on 6/1/2022.

F4: Converted from Canadian exercise price of $2.62 using an exchange rate of 1.3630.