Company: GROY-WT
Filing Date: 2025-03-20
Form Type: 20-F
Source: 0000950170-25-042306
Chunk: 59

Company: Gold Royalty Corp.
Filing Date: 2025-03-20
Form: 20-F
Item: Item 6
Chunk 59
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 out-of-the-money. Value vested during the year is calculated by subtracting the exercise price of the Option from the market price of our common shares on the date the Option vested (being $5.00 for Options vesting pre-IPO, and being the closing price of our shares on the NYSE American on the vesting date for Options vesting post-IPO).
 (2)The Share-based Awards consist of RSUs. Each RSU entitles the holder to receive, upon vesting, one common share or the cash equivalent of one common share. 
 (3)Mr. Mullan ceased to be a director on April 20, 2024.
 Summary of Options Granted to Directors and Management
 The following table discloses Options which were granted to directors and officers during the fiscal year ended December 31, 2024:
 
Name and                                          Date of Grant         Title of Underlying Security   Number of Underlying Security        Exercise Price per Share   Expiry Date     
Principal Position                                                                                                                                               ($)                   
David Garofalo                                    December 5, 2024(1)   common shares                                        580,490                            1.24   December 5, 2029
Chairman, Chief Executive Officer and President                                                                                                                                        
Andrew Gubbels                                    December 5, 2024(1)   common shares                                        270,192                            1.24   December 5, 2029
Chief Financial Officer                                                                                                                                                                
John Griffith                                     December 5, 2024(1)   common shares                                        270,192                            1.24   December 5, 2029
Chief Development Officer                                                                                                                                                              
Samuel Mah                                        December 5, 2024(1)   common shares                                        236,418                            1.24   December 5, 2029
Vice President, Evaluations                                                                                                                                                            
 __________
 Note:
 (1)These options are subject to vesting provisions in which 25% of the options vest immediately on the grant date and 25% vest on each of the dates that are 6, 12 and 18 months thereafter.
Pension Plan Benefits
 We presently do not provide any defined benefit or pension plan to our directors, executive officers, employees or consultants.
 Short-Term Incentive Program ("STIP")
 The STIP is a variable component of the compensation program intended to reward eligible employees for achieving annual corporate performance against stated objectives and an employee's individual progress which aid in achieving long-term value for the Company. STIP