Lihan Laas, Financial Manager FWGR Ops. at DRDGOLD Ltd (NYSE American:DRD), filed a Form 4 on October 28, 2026, disclosing the vesting and subsequent sale of 14,787 ordinary shares, along with the forfeiture of 9,857 conditional share awards, following the company's assessment of performance conditions tied to a 2023 long-term incentive grant.

Key Highlights

  • Vesting event: 14,787 conditional share awards granted on October 25, 2023 vested on October 25, 2026, representing 60% of the original award, and were settled in ordinary shares for no consideration.
  • Shares sold: All 14,787 vested ordinary shares were sold on October 27, 2026, as part of a pooled sale at an average price of ZAR 40.7170 per share (converted to $2.4413 per share using the South African Reserve Bank exchange rate on the transaction date).
  • Forfeiture: The remaining 40% of the October 25, 2023 conditional share awards, totaling 9,857 shares, were forfeited without consideration because performance conditions were not fully satisfied.
  • Remaining beneficial ownership: Following all reported transactions, the reporting person holds 0 ordinary shares directly, and 27,740 conditional share awards scheduled to vest on October 22, 2027.
  • Future awards: The 27,740 remaining conditional share awards are subject to continued service and satisfaction of applicable performance conditions before vesting.

DRDGOLD Officer Reports Vesting, Sale, and Forfeiture of 2023 Long-Term Incentive Awards

According to the filing, the October 25, 2026 vesting was triggered by DRDGOLD Limited's determination that the applicable performance conditions attached to the October 25, 2023 grant under the company's Equity-settled Long Term Incentive Scheme were satisfied to the extent of 60%. The 14,787 conditional share awards that vested were converted on a one-for-one basis into ordinary shares for no consideration, the filing states.

Two days after vesting, on October 27, 2026, all 14,787 ordinary shares were sold on behalf of Laas Lihan through a pooled sale, the filing discloses. The transaction was denominated in South African rand, with an average sale price of ZAR 40.7170 per ordinary share. The filing notes that the USD equivalent of $2.4413 per share was calculated using the South African Reserve Bank exchange rate in effect on the transaction date. Following the sale, the reporting person's direct ownership of ordinary shares stands at zero.

Separately, the filing records a disposition of 9,857 conditional share awards coded "J," described as the forfeiture, without consideration, of the remaining 40% of the 2023 grant. The company determined those performance conditions were not fully satisfied. The reporting person retains 27,740 conditional share awards granted under the same scheme, with each representing a contingent right to receive one ordinary share, currently scheduled to vest on October 22, 2027, subject to continued service and performance conditions, according to the filing.

What Was Disclosed

Lihan Laas, an officer of DRDGOLD Ltd, disclosed the vesting of 14,787 conditional share awards on October 25, 2026, their sale on October 27, 2026, and the forfeiture of 9,857 unearned awards, leaving 27,740 conditional share awards outstanding for a future vesting date.