Company: GROY-WT
Filing Date: 2025-03-20
Form Type: 20-F
Source: 0000950170-25-042306
Chunk: 53

Company: Gold Royalty Corp.
Filing Date: 2025-03-20
Form: 20-F
Item: Item 6
Chunk 53
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 of grant on December 5, 2024. The RSUs vest as to one-third on each of the first, second and third anniversaries of the date of grant.
 (3)These amounts represent the aggregate grant date fair value of options to purchase common shares ("Options"), which was estimated using the Black-Scholes option pricing model. The following assumptions were used to value the Options granted on December 5, 2024: exercise price: $1.24; expected risk free interest rate: 4.11%; expected annual volatility: 56%; expected life in years: 2.88; expected annual dividend yield: 0%; and Black-Scholes value: $0.50. The Options vest as to 25% immediately and on each day which is 6, 12 and 18 months from the date of grant.
 (4)Amounts in this column are paid as annual cash bonuses in respect of the financial year noted and were paid pursuant to our STIP. See " – Short-Term Incentive Program" below for further information. The payments for the financial year ended December 31, 2024, were made on December 20, 2024. Amounts paid to each of the NEOs are in Canadian dollars. For the purposes hereof, such amounts have been converted from Canadian dollars to U.S. dollars based on the exchange rate of $0.7053 for the financial year ended December 31, 2024, being the exchange rate as of December 20, 2024. 
 (5)These amounts represent the total contributions made by the Company to the Registered Retirement Savings Plan on behalf of the NEOs, as well as payments made in lieu of vacation for the year ended December 31, 2024.
 (6)Mr. Garofalo was appointed as Chairman, Chief Executive Officer and President effective August 1, 2020.
 (7)Mr. Gubbels was appointed as Chief Financial Officer effective January 1, 2023. 
 (8)Mr. Griffith was appointed as Chief Development Officer effective September 8, 2020.
 (9)Mr. Mah was appointed as Vice President, Evaluations effective July 1, 2021.
 
Outstanding Share-based Awards and Option-based Awards for NEOs
 The following table states the name of each NEO and Option-based and Share-based Awards outstanding as of the financial year ended December 31, 2024.
 
                                                  Option-based Awards