Francis Kevin A. 4

What Happened Kevin A. Francis, Vice President of Exploration at U.S. Gold Corp. (USAU), received two equity awards on January 21, 2026: 6,752 restricted stock units (RSUs) and 9,132 stock options. Both items are reported as acquisitions with a reported price of $0.00 on the Form 4—meaning no cash changed hands at grant; the reported immediate value is $0. These awards are grants (transaction code A), not exercises or open-market purchases/sales.

Key Details

• Transaction date(s): 2026-01-21; Form 4 filed 2026-01-23 (two days after the grant).
• Reported price: $0.00 for both the RSUs and the options; Form 4 shows $0 immediate value.
• Grant sizes: 6,752 RSUs; 9,132 stock options (options reported as a derivative security).
• Vesting: RSUs vest on the first anniversary of the grant date, subject to continuous service (footnote F1). Options vest on the first anniversary, subject to continuous service (footnote F2).
• Shares owned after transaction: not specified in the provided filing details.
• Filing timeliness: filed within typical short delay (not marked late).

Context These awards are part of compensation (grants) rather than purchases or sales. RSUs convert to shares upon vesting (subject to service conditions); options give the right to buy shares in the future if exercised (they were granted, not exercised). Grants reported at $0 on a Form 4 reflect the fact that no cash was paid at grant and do not by themselves indicate immediate insider buying or selling activity.