X0306 4 2015-05-21 0 0001011509 Golden Minerals Co AUMN 0001397870 Masterton-Hume Ian LEVEL 24 GROSVENOR PLACE 225 GEORGE STREET SYDNEY C3 NSW 2000 AUSTRALIA 1 0 0 0 Restricted Stock Units 2015-05-21 4 A 0 40000 0 A Common Stock 40000 177279 D Each Restricted Stock Unit represents a contingent right to receive one share of Golden Minerals Company common stock. The Restricted Stock Units will vest on the first to occur of (i) the first anniversary of the grant date and (ii) a Change of Control as defined in Golden Minerals Company's 2009 Equity Incentive Plan. Shares of common stock represented by vested Restricted Stock Units will be issued to the reporting person effective on the date on which the reporting person ceases to be a member of the Board of Directors of Golden Minerals Company. /s/ Robert P. Vogels for Ian Masterton-Hume Pursuant to Power of Attorney 2015-05-21