Jacobus Schoeman, Chief Operating Officer of DRDGOLD Ltd, filed a Form 4 on October 28, 2026, disclosing the vesting of 139,575 Conditional Share Awards, the subsequent sale of 94,575 ordinary shares, and the forfeiture of 93,049 unvested awards.

Key Highlights

  • Vesting event: 139,575 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: 94,575 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).
  • Forfeiture: The remaining 40% of the October 25, 2023 award, totaling 93,049 Conditional Share Awards, was forfeited without consideration because applicable performance conditions were not fully satisfied.
  • Remaining direct ownership: Following all transactions, Schoeman directly holds 70,000 ordinary shares.
  • Future awards: Schoeman holds 215,259 Conditional Share Awards granted under the Company's Equity-settled Long Term Incentive Scheme, which vest on October 22, 2027, subject to continued service and performance conditions.

DRDGOLD COO's October 2026 Award Vesting, Sale, and Forfeiture Details

According to the filing, on October 25, 2026, 139,575 Conditional Share Awards previously granted to Schoeman on October 25, 2023 under DRDGOLD Ltd's Equity-settled Long Term Incentive Scheme vested. The company disclosed that this represented 60% of the original grant, settled on a one-for-one basis in ordinary shares for no consideration, based on DRDGOLD's determination of the extent to which applicable performance conditions were satisfied. Prior to the sale, Schoeman's direct beneficial ownership stood at 164,575 ordinary shares following the vesting.

Two days later, on October 27, 2026, 94,575 ordinary shares were sold on Schoeman's behalf as part of a pooled sale. The filing notes that the underlying transaction was denominated in South African rand, with an average sale price of ZAR 40.7170 per ordinary share. The USD-equivalent price of $2.4413 per share was converted using the South African Reserve Bank exchange rate in effect on the transaction date. After the sale, Schoeman's direct beneficial ownership stood at 70,000 ordinary shares, according to the filing.

Separately, 93,049 Conditional Share Awards from the same October 25, 2023 grant were forfeited on October 25, 2026. The filing states this forfeiture, which carried no consideration, reflected the company's determination that the applicable performance conditions were not fully satisfied. Schoeman also holds 215,259 Conditional Share Awards, each representing a contingent right to receive one ordinary share, scheduled to vest on October 22, 2027, subject to continued service and performance conditions. DRDGOLD Ltd trades under the ticker DRD, as listed in the filing. The issuer is listed on NYSE:DRD.

What Was Disclosed

The Form 4 filed October 28, 2026, covers three transactions by DRDGOLD's COO Jacobus Schoeman: the vesting of 139,575 conditional awards on October 25, 2026; the pooled sale of 94,575 ordinary shares on October 27, 2026; and the forfeiture of 93,049 unvested awards for no consideration.