Form 4: Rise Gold CEO Mullin Boosts Stake with New Equity Grants

Joseph E. Mullin III, President and CEO of Rise Gold Corp., reported significant new grants of Deferred Share Units and stock options, increasing his beneficial ownership.

Summary

• Joseph E. Mullin III, President and CEO of Rise Gold Corp. (RYES), reported his beneficial ownership of the company's securities.
• He directly owns 701,095 shares of common stock.
• He was granted 1,000,000 Deferred Share Units (DSUs) on October 30, 2025, which are fully vested upon grant, subject to shareholder approval of the Long-Term Incentive Plan on November 19, 2025. Each DSU converts to one common share upon ceasing to be an "Eligible Person."
• He was also granted 530,469 stock options on October 30, 2025, with an exercise price of $0.25 and an expiration date of October 30, 2030.
• Through Mount Arvon Partners LLC, he indirectly beneficially owns an additional 5,551,870 stock options with various exercise prices ($0.10, $0.17) and expiration dates (March 25, 2030; September 19, 2029; May 1, 2029).
• He directly owns 390,547 warrants with exercise prices ranging from $0.15 to $0.45 and expiration dates between November 7, 2025, and October 24, 2028.

Sentiment

Score: 7

Explanation: The filing indicates substantial beneficial ownership by the President and CEO, including recent grants of Deferred Share Units and stock options. This level of insider equity holding typically suggests management's vested interest in the company's long-term success.

Positives

• Significant insider ownership by the President and CEO, Joseph E. Mullin III, totaling 701,095 direct common shares, 1,000,000 DSUs, 5,551,870 options, and 390,547 warrants, aligning management's interests with long-term shareholder value.
• The grant of 1,000,000 Deferred Share Units (DSUs) and 530,469 stock options on October 30, 2025, demonstrates continued commitment and incentive for executive performance.
• DSUs are fully vested on the grant date, indicating immediate equity interest, contingent on the Long-Term Incentive Plan approval.

Negatives

• The filing does not report any open-market purchases of common stock by the insider, which would signal direct confidence in current valuation.
• A significant portion of beneficial ownership is through derivative securities (options and warrants), which may only convert to common stock if certain price thresholds are met.

Risks

• The vesting of 1,000,000 Deferred Share Units (DSUs) is subject to the approval of the issuer's Long-Term Incentive Plan at the annual general meeting of stockholders to be held on November 19, 2025. Failure to approve could impact executive compensation and retention.
• The value of options and warrants is dependent on the future stock price exceeding their respective exercise prices, introducing market risk to the beneficial ownership.

Future Outlook

The vesting schedules for options and Deferred Share Units indicate future equity realization for the CEO, contingent on the approval of the Long-Term Incentive Plan and his continued employment as an Eligible Person.

Industry Context

This filing reflects standard executive compensation practices involving equity grants to align management incentives with shareholder interests, common across various industries, particularly in resource exploration where long-term value creation is key.

Corporate Governance

Related Party Transactions

• Joseph E. Mullin III's indirect beneficial ownership of 6,551,870 derivative securities (DSUs and options) is held through Mount Arvon Partners LLC, indicating a related party relationship.

Stakeholder Impact

• Shareholders: Increased alignment of management's interests with shareholders due to significant equity holdings and new grants. The approval of the Long-Term Incentive Plan will directly impact executive compensation structure.
• Management/Employees: The Long-Term Incentive Plan and associated equity grants serve as a key component of executive compensation and retention, incentivizing long-term performance.

Next Steps

• Approval of the issuer's Long-Term Incentive Plan at the annual general meeting of stockholders on November 19, 2025.
• Joseph E. Mullin III will receive one share of common stock for each DSU held upon ceasing to be an "Eligible Person" as defined in the Long-Term Incentive Plan.

Key Dates

Recommendation

While significant insider ownership and new equity grants are generally positive signals, this Form 4 primarily reports existing holdings and grants rather than open-market purchases. Without additional context on company performance, valuation, or strategic developments, a 'hold' recommendation is prudent, acknowledging the alignment of interests but awaiting further catalysts for a stronger stance.

Keywords

Rise Gold Corp, RYES, Joseph E. Mullin III, Insider Ownership, Form 4, SEC Filing, CEO, Stock Options, Deferred Share Units, Warrants, Beneficial Ownership, Executive Compensation, Corporate Governance