Tobler Douglas L. 4
4 · VISTA GOLD CORP · Filed Mar 17, 2026
Research Summary
AI-generated summary of this filing
Vista Gold (VGZ) CFO Tobler Exercises RSUs, Net +35,696 Shares
What Happened
Douglas L. Tobler, CFO of Vista Gold Corp (VGZ), converted/settled a set of derivative awards (RSUs) on March 13, 2026 and received stock awards. He acquired a total of 446,667 shares through exercises/conversions and a grant of 163,000 RSU-equivalents, and 410,971 shares were disposed (mostly withheld or converted). The company withheld 127,304 shares to satisfy tax withholding at an implied price of $2.06, totaling $262,246. The net effect was an increase of 35,696 shares in Tobler’s beneficial ownership.
Key Details
- Transaction date: March 13, 2026; Form 4 filed March 17, 2026 (filed within the required reporting window).
- Activity types: M = exercise/conversion of derivatives (RSUs), F = shares withheld to satisfy tax liability, A = grant/award (RSUs).
- Specific line items (selected): converted 20,000; 247,000; and 16,667 derivative units (reported as acquired and immediately reflected as disposed in part); 127,304 shares withheld for taxes @ $2.06 = $262,246; reported award/acquisition of 163,000 RSU-equivalents.
- Net change: +35,696 shares beneficially acquired after conversions/withholdings.
- Shares owned after transaction: not specified in the provided filing excerpt.
- Footnotes: RSUs represent contingent rights to one share (F1); the 127,304-share disposal reflects shares withheld for tax withholding on vested RSUs (F2). Several RSU grants from 2023–2025 with staggered and performance-based vesting schedules are referenced (F3–F6).
Context
- These transactions appear to be settlement/vesting of RSUs and associated tax withholding (a routine compensation event), not an open-market purchase or sale for investment.
- The $0.00 per-share lines reflect stock-settlement of RSUs (no cash exercise price); the withholding (F) is effectively a cashless tax payment.
- Such vesting/withholding transactions typically reflect compensation vesting rather than a direct insider buy/sell signal.
Insider Transaction Report
Form 4
Transactions
- Exercise/Conversion
Common Shares
2026-03-13+20,000→ 453,333 total - Exercise/Conversion
Common Shares
2026-03-13+247,000→ 700,333 total - Exercise/Conversion
Common Shares
2026-03-13+16,667→ 717,000 total - Tax Payment
Common Shares
[F2]2026-03-13$2.06/sh−127,304$262,246→ 589,696 total - Exercise/Conversion
Restricted Stock Units
[F1][F3]2026-03-13−20,000→ 0 total→ Common Shares (20,000 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F4]2026-03-13−247,000→ 31,000 total→ Common Shares (247,000 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F5]2026-03-13−16,667→ 150,333 total→ Common Shares (16,667 underlying) - Award
Restricted Stock Units
[F1][F6]2026-03-13+163,000→ 163,000 total→ Common Shares (163,000 underlying)
Footnotes (6)
- [F1]Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.
- [F2]Represents shares withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting of RSUs reported in Table II.
- [F3]Represents grant of 200,000 RSUs on March 5, 2023, which vest as follows: 60,000 over a 36-month period (1/3 at 12 months, 1/3 at 24 months and 1/3 at 36 months), subject to the reporting person's continuing service as an officer of the Issuer; and 140,000 two years following the grant date, contingent on share price performance criteria for the Issuer's common shares during the 2-year vesting period. Settlement of vested RSUs to occur as soon as administratively feasible following the vesting date.
- [F4]Represents grant of 309,000 RSUs on February 26, 2024, which vest as follows: 93,000 over a 36-month period (1/3 at 12 months, 1/3 at 24 months and 1/3 at 36 months), subject to the reporting person's continuing service as an officer of the Issuer; and 216,000 two years following the grant date, contingent on share price performance criteria for the Issuer's common shares during the 2-year vesting period. Settlement of vested RSUs to occur as soon as administratively feasible following the vesting date.
- [F5]Represents grant of 167,000 RSUs on March 4, 2025, which vest as follows: 50,000 over a 36-month period (1/3 at 12 months, 1/3 at 24 months, and 1/3 at 36 months), subject to the reporting person's continuing service as an officer of the Issuer; and 117,000 two years following the grant date, contingent on share price performance criteria for the Issuer's common shares during the 2-year vesting period. Settlement of vested RSUs will occur as soon as administratively feasible following the vesting date.
- [F6]The RSUs vest as follows: 43,000 on 3/13/2027, subject to performance criteria; 60,000 on 3/13/2029, contingent on share price performance criteria for the Issuer's common shares during the 3-year vesting period; and 60,000 on 3/13/2029, subject to performance criteria. Settlement of vested RSUs will occur as soon as administratively feasible following the vesting date.
Signature
/s/ Glenn Cowan as attorney-in-fact for Douglas L. Tobler|2026-03-17