Form 4: Perpetua Resources Director Acquires Deferred Share Units

Director Alexander McLeod Sternhell acquired 744 deferred share units (DSUs) of Perpetua Resources Corp. on September 30, 2024, in lieu of a cash retainer.

Summary

• Alexander McLeod Sternhell, a director of Perpetua Resources Corp., acquired 744 deferred share units (DSUs) on September 30, 2024.
• The DSUs were received in lieu of a cash retainer for his service during the third quarter of 2024.
• Each DSU entitles the holder to one common share of Perpetua Resources Corp., or cash equal to the value thereof, upon settlement.
• The DSUs are fully vested as of the grant date and will be settled in the calendar year following the director's separation from service.
• Following the transaction, Sternhell directly owns 49,703 common shares.
• The price of the deferred share units was $9.35.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. A director receiving equity in lieu of cash suggests confidence in the company's future, but it's a routine transaction.

Positives

• The acquisition of DSUs by a director demonstrates confidence in the company's future prospects.
• The director chose to receive equity instead of cash, aligning his interests with those of shareholders.

Future Outlook

The DSUs will be settled in the calendar year following the director's separation from service, either in shares or cash at the holder's election.

Industry Context

Directors often receive equity-based compensation to align their interests with shareholders and incentivize long-term value creation. This transaction is a standard practice in corporate governance.

Comparison to Industry Standards

• Equity compensation for board members is a common practice across the mining industry.
• Companies like Barrick Gold and Newmont Corporation also utilize stock options and restricted stock units as part of their director compensation packages.
• The specific amount and type of equity compensation vary based on company size, performance, and industry norms.

Stakeholder Impact

• The transaction aligns the director's interests with those of shareholders, potentially encouraging decisions that benefit the company's long-term value.

Key Dates