X0306 4 2017-08-16 0 0000085535 ROYAL GOLD INC RGLD 0001256110 JENSEN TONY A 1660 WYNKOOP STREET, SUITE 1000 DENVER CO 80202 1 1 0 0 CEO and President Common Stock 2017-08-16 4 F 0 13181 87.36 D 142344 I by Family Trust Common Stock 2017-08-16 4 M 0 7334 53 A 149678 I by Family Trust Common Stock 2017-08-16 4 M 0 20000 49.66 A 169678 I by Family Trust Common Stock 2017-08-16 4 M 0 14400 68.18 A 184078 I by Family Trust Common Stock 2017-08-16 4 M 0 36000 62.14 A 220078 I by Family Trust Common Stock 2017-08-16 4 M 0 14157 56.54 A 234235 I by Family Trust Common Stock 2017-08-16 4 D 0 58399 87.36 D 175836 I by Family Trust Common Stock 2017-08-16 4 S 0 3523 87.03 D 172313 I by Family Trust Stock Option (Right to buy ISO) 53 2017-08-16 4 M 0 629 0 D 2019-11-18 Common Stock 629 0 D Stock Option (Right to Buy ISO) 49.66 2017-08-16 4 M 0 1333 0 D 2020-11-17 Common Stock 1333 0 D Common Stock 68.18 2017-08-16 4 M 0 977 0 D 2021-11-18 Common Stock 977 0 D Common Stock 62.14 2017-08-16 4 M 0 1609 0 D 2023-08-27 Common Stock 1609 0 D Common Stock 56.54 2017-08-16 4 M 0 589 0 A 2025-08-20 Common Stock 589 1179 D Stock Appreciation Right (SARs) 53 2017-08-16 4 M 0 6705 0 D 2019-11-18 Common Stock 6705 0 D Stock Appreciation Right (SARs) 49.66 2017-08-16 4 M 0 18667 0 D 2020-11-17 Common Stock 18667 0 D Common Stock 68.18 2017-08-16 4 M 0 13423 0 D 2021-11-18 Common Stock 13423 0 D Common Stock 62.14 2017-08-16 4 M 0 34391 0 D 2023-08-27 Common Stock 34391 0 D Common Stock 56.54 2017-08-16 4 M 0 13568 0 D 2025-08-20 Common Stock 13568 27137 D Represents shares withheld to satisfy taxes; no shares were sold. Includes 39,116 shares of restricted stock that have not vested. Represents the difference between the number of SARs exercised (86,754) and the number of shares issuable as a result of the exercise (28,355). The range of the weighted average sales price is $87.00 and $87.11. One-third vests annually over 3 years beginning on November 18, 2010. One-third vest annually over 3 years beginning on November 17, 2011. One-third vest annually over 3 years beginning on November 18, 2012. One-third vest annually over 3 years beginning on August 24, 2014. One-third vest annually over 3 years beginning on Augst 20, 2016. Margaret A Beck as Attorney-in-Fact for Tony Jensen 2017-08-25