SYLVESTRE MICHEL 4

What Happened

• Sylvestre Michel, a director of Vista Gold Corp. (VGZ), was granted 24,000 Deferred Share Units (DSUs) on March 13, 2026. The DSUs were awarded at $0.00 per share (no cash paid); the reported transaction value is $0 because these are derivative, non-cash awards rather than open-market purchases or sales.
• This is a director compensation grant (an award), not a purchase or sale of outstanding common shares.

Key Details

• Transaction date: 2026-03-13. Form filed: 2026-03-17 (filed within the typical two-business-day Form 4 window).
• Award: 24,000 Deferred Share Units (DSUs); reported acquisition amount $0.00 (derivative award).
• Shares owned after transaction: not specified in the provided filing details.
• Footnote: Each DSU is the economic equivalent of one common share, vests immediately on issuance, but the underlying common shares are not issued and the holder has no voting or dispositive rights until the director separates from the company. Grants will expire no later than December 1 of the year following the calendar year in which separation occurs.

Context

• DSU grants are common non-cash director compensation and do not represent an immediate purchase or sale of company stock. Because underlying shares are only issued upon separation, DSUs largely function as deferred compensation tied to future termination of service.