Ryno Bornman, Financial Manager of Ergo Operations at DRDGOLD Ltd (NYSE:DRD), filed a Form 4 on October 28, 2026, disclosing the vesting and partial sale of ordinary shares tied to a 2023 conditional share award.

Key Highlights

  • Vesting event: 18,639 Conditional Share Awards granted on October 25, 2023 vested on October 25, 2026, representing 60% of the original award, and were settled one-for-one in ordinary shares for no consideration.
  • Forfeiture: The remaining 40% of the October 25, 2023 award, equaling 12,425 Conditional Share Awards, was forfeited without consideration because performance conditions were not fully satisfied.
  • Sale: 8,388 ordinary shares were sold on October 27, 2026, at an average price of ZAR 40.7170 per share (reported as $2.4413 per share using the South African Reserve Bank exchange rate on the transaction date).
  • Remaining direct ownership: Following all reported transactions, Bornman directly holds 16,959 ordinary shares.
  • Future award: Bornman holds 58,522 Conditional Share Awards scheduled to vest on October 22, 2027, subject to continued service and applicable performance conditions.

DRDGOLD Conditional Share Award Vesting and Sale Details for Bornman

According to the filing, Ryno Bornman serves as Financial Manager of Ergo Operations at DRDGOLD Ltd. On October 25, 2026, 18,639 Conditional Share Awards that had been granted to Bornman on October 25, 2023 under DRDGOLD's Equity-settled Long Term Incentive Scheme vested. The filing states the vesting reflected the company's determination that 60% of the applicable performance conditions were satisfied. The awards were settled on a one-for-one basis in ordinary shares for no consideration, bringing Bornman's direct ordinary share holding to 25,347 following that transaction.

Simultaneously, the filing discloses that the remaining 12,425 Conditional Share Awards from the same October 25, 2023 grant were forfeited without consideration, as the company determined the applicable performance conditions were not fully satisfied. On October 27, 2026, 8,388 ordinary shares were sold on Bornman's behalf through a pooled sale at an average price of ZAR 40.7170 per share. For disclosure purposes, the price was converted to $2.4413 per share using the South African Reserve Bank exchange rate in effect on the transaction date. After this sale, Bornman's direct beneficial ownership stood at 16,959 ordinary shares.

The filing also notes that Bornman retains 58,522 Conditional Share Awards granted under the same long-term incentive scheme. According to the filing, each Conditional Share Award represents a contingent right to receive one ordinary share, with those remaining awards scheduled to vest on October 22, 2027, subject to continued service and satisfaction of applicable performance conditions.

What Was Disclosed

DRDGOLD officer Ryno Bornman reported a vesting of 18,639 conditional share awards, the forfeiture of 12,425 awards, and a sale of 8,388 ordinary shares on October 27, 2026, leaving him with 16,959 ordinary shares held directly.