Mpho Mashatola, Group Finance and Business Development Manager at DRDGOLD Ltd (NYSE:DRD), filed a Form 4 on October 28, 2026, reporting the vesting of conditional share awards on October 25, 2026, a subsequent partial sale on October 27, 2026, and the forfeiture of the remaining 40% of the same award.

Key Highlights

  • Vesting event: 28,920 Conditional Share Awards, representing 60% of awards granted on October 25, 2023, vested on October 25, 2026, and were settled one-for-one in ordinary shares for no consideration.
  • Shares sold: 13,014 ordinary shares were sold on October 27, 2026, at an average price of ZAR 40.7170 per share (reported as $2.4413 after conversion using the South African Reserve Bank exchange rate).
  • Forfeiture: The remaining 40% of the October 25, 2023 Conditional Share Awards, totaling 19,281 shares, were forfeited without consideration because the applicable performance conditions were not fully satisfied.
  • Post-transaction ownership: Mashatola directly holds 55,774 ordinary shares following the reported transactions.
  • Future award: A separate tranche of 55,977 Conditional Share Awards is scheduled to vest on October 22, 2027, subject to continued service and satisfaction of performance conditions.

DRDGOLD Officer Mashatola Reports Vesting, Sale, and Forfeiture of Conditional Share Awards

According to the Form 4 filed on October 28, 2026, Mpho Mashatola, identified in the filing as Group Finance and Business Development Manager at DRDGOLD Ltd, reported two non-derivative transactions and related derivative activity tied to the company's Equity-settled Long Term Incentive Scheme. On October 25, 2026, 28,920 Conditional Share Awards originally granted on October 25, 2023, vested at a 60% performance achievement level as determined by the company, and were settled on a one-for-one basis in ordinary shares for no consideration.

Two days later, on October 27, 2026, 13,014 of the resulting ordinary shares were sold as part of a pooled sale conducted on behalf of the reporting person. The filing notes that the underlying transaction was denominated in South African rand, with the average sale price of ZAR 40.7170 per ordinary share converted to $2.4413 using the South African Reserve Bank exchange rate in effect on the transaction date. Simultaneously with the vesting, 19,281 Conditional Share Awards representing the remaining 40% of the same 2023 grant were forfeited without consideration because, according to the filing, "the applicable performance conditions were not fully satisfied."

The filing also discloses that Mashatola holds a separate outstanding grant of 55,977 Conditional Share Awards, each representing a contingent right to receive one ordinary share, scheduled to vest on October 22, 2027. That award remains subject to the reporting person's continued service to the company or its subsidiaries and satisfaction of applicable performance conditions. Following all reported transactions, Mashatola's direct beneficial ownership stands at 55,774 ordinary shares.

What Was Disclosed

The filing reported the partial vesting and one-for-one settlement of 28,920 Conditional Share Awards, the subsequent sale of 13,014 ordinary shares at ZAR 40.7170 average, the forfeiture of 19,281 unvested awards, and the existence of a future award tranche of 55,977 shares scheduled to vest in October 2027.