Form 4: Perpetua Director Elects DSUs for Q3 2025 Service

Perpetua Resources Corp. Director Richie Darrin Haddock acquired 368 Deferred Share Units in lieu of a cash retainer for his third-quarter 2025 service.

Summary

• Richie Darrin Haddock, a Director of Perpetua Resources Corp. (PPTA), acquired 368 Deferred Share Units (DSUs) on September 25, 2025.
• The DSUs were received in lieu of a cash retainer for his service during the third quarter of 2025.
• Each DSU entitles the holder to receive one common share of Perpetua Resources Corp. or, at the holder's election and subject to plan administrator approval, cash equal to the value thereof.
• The DSUs are fully vested as of the grant date and will be settled following Mr. Haddock's separation from service.
• The value of each DSU was $18.86, based on the closing price of the Issuer's Common Shares on the Nasdaq Capital Market on September 24, 2025.
• Following this transaction, Mr. Haddock beneficially owns 26,807 derivative securities (DSUs).

Sentiment

Score: 7

Explanation: The sentiment is moderately positive as a director choosing equity over cash compensation indicates confidence in the company's future and aligns management interests with shareholders. However, it is a routine compensation event rather than a significant strategic or financial development.

Positives

• The director's election to receive equity (DSUs) instead of a cash retainer aligns his interests more closely with those of the shareholders, demonstrating confidence in the company's future performance.
• The DSUs are fully vested upon grant, providing immediate equity exposure for the director.

Future Outlook

The acquired Deferred Share Units will be settled following the reporting person's separation from service, at which point the holder will receive common shares or a cash equivalent.

Management Comments

• The Reporting Person elected to receive Deferred Share Units in lieu of a cash retainer for his service during the third quarter of 2025.

Industry Context

The practice of compensating directors with equity, such as Deferred Share Units, is a common corporate governance strategy across various industries. It aims to align the interests of directors with long-term shareholder value creation by tying a portion of their compensation to the company's stock performance.

Comparison to Industry Standards

• Compensating directors with equity-based awards like DSUs is a standard practice among publicly traded companies, including those in the mining and resources sector, to foster alignment with shareholder interests.
• Many companies, such as Barrick Gold (GOLD) or Newmont Corporation (NEM), utilize similar equity incentive plans for their non-executive directors, often including deferred share units or restricted stock units, to encourage long-term commitment and performance.

Stakeholder Impact

• Shareholders: The election of equity compensation by a director can be viewed positively as it aligns the director's financial interests with the long-term performance of the company's stock, potentially fostering more shareholder-centric decision-making.

Next Steps

• Settlement of the Deferred Share Units (DSUs) will occur following the reporting person's separation from service.

Key Dates

Recommendation

This Form 4 filing details a routine compensation event where a director elected to receive equity in lieu of cash. While this aligns director interests with shareholders, it does not present new fundamental information or significant changes to the company's financial health or strategic direction that would warrant a change in investment recommendation.

Keywords

Perpetua Resources Corp., PPTA, Richie Darrin Haddock, Form 4, Insider Transaction, Deferred Share Units, DSU, Director Compensation, Equity Incentive Plan, Share Ownership