Kalidas V. Madhavpeddi - Dec 1, 2022 Form 4 Insider Report for Trilogy Metals Inc. (TMQ)

Role: Director
Signature: /s/ Elaine Sanders as attorney-in-fact for Kalidas V. Madhavpeddi
Stock symbol: TMQ
Transactions as of: Dec 1, 2022
Transactions value $: $0
Form type: 4
Date filed: 12/5/2022, 09:39 AM
Previous filing: Nov 9, 2022
Next filing: Dec 12, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TMQ	Common Shares	Award		+15.6K	+30.15%		67.2K	Dec 1, 2022	Direct	F1
transaction	TMQ	Common Shares	Gift		-15.6K	-23.17%		51.6K	Dec 1, 2022	Direct	F2
transaction	TMQ	Common Shares	Gift		+15.6K	+4.3%		377K	Nov 1, 2022	Held by the Kalidas and Darlene Madhavpeddi Family Trust	F2, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	TMQ	Deferred Share Units	Award	$0	+8.65K	+3.32%	$0.00	269K	Dec 1, 2022	Common Stock	8.65K	$0.00	Direct	F4, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents grant of restricted stock units which fully vested and settled on the December 1, 2022 grant date.
F2	Represent bona fide gift transfer of shares to family trust.
F3	The Kalidas and Darlene Madhavpeddi Family Trust dtd 07/27/1998 is a trust established for the benefit of the reporting person's family (the "Trust"). The reporting person is a trustee and a primary beneficiary of the Trust.
F4	Non-discretionary issuances of DSUs pursuant to elections made by plan participants prior to the commencement of the current fiscal year.
F5	The deferred share units vest immediately; however, the underlying common shares will not be issued to the grantee, and the grantee shall not have any voting or dispositive rights with respect to the underlying common shares, until termination of the grantee's employment or services as a director of the Issuer. The grants will expire no later than 90 days after the grantee's termination date.