Company: GROY-WT
Filing Date: 2025-03-20
Form Type: 20-F
Source: 0000950170-25-042306
Chunk: 124

Company: Gold Royalty Corp.
Filing Date: 2025-03-20
Form: 20-F
Item: Item 19
Chunk 124
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 director, officer, employee or consultant of the Company or an entity that is under common control with the Company for a period of one year after the initial public offering is completed (condition met).
During the year ended September 30, 2022, the Company recognized share-based compensation expense of $276, related to the Restricted Shares.
11.4 Restricted Share Units
During the years ended December 31, 2024, and 2023, three months ended December 31, 2022, and year ended September 30, 2022, the Company recognized share-based compensation expense of$1,873,$1,318,$201 and $341, respectively, related to the RSUs.
The following outlines the movements of the Company's RSUs:
Number of Weighted Average
Balance at September 30, 2021 - - 
Granted 167,849 4.84
Forfeited ( 2,005) 4.92
Balance at September 30, 2022 165,844 4.84
Granted 603,703 2.81
Balance at December 31, 2022 769,547 3.25
Granted 1,556,164 1.55
Vested ( 257,489) 3.24
Forfeited ( 3,102) 2.81
Balance at December 31, 2023 2,065,120 1.97
Granted 1,348,555 1.24
Vested ( 738,244) 2.11
Forfeited ( 95,156) 2.09
Balance at December 31, 2024 2,580,275 1.55
The Company's RSUs vest in three equal annual instalments during the recipient's continual service with the Company. The Company classifies RSUs as equity instruments since the Company has the ability and intent to settle the awards in GRC Shares. The compensation expense is calculated based on the fair value of each RSU as determined by the closing value of GRC Shares at the date of the grant. The Company recognizes compensation expense over the vesting period of the RSUs.
During the years ended December 31, 2024, and 2023, three months ended December 31, 2022, and year ended September 30, 2022, the Company granted to certain officers, directors, and consultants1,348,555,1