Kalidas V Madhavpeddi - 09 Nov 2021 Form 4 Insider Report for Trilogy Metals Inc. (TMQ)

Role: Director
Signature: /s/ Elaine Sanders as attorney-in-fact for Kalidas V. Madhavpeddi
Issuer symbol: TMQ
Transactions as of: 09 Nov 2021
Net transactions value: -$2,445
Form type: 4
Filing time: 10 Nov 2021, 17:07:41 UTC
Previous filing: 04 Nov 2021
Next filing: 01 Dec 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TMQ	Common Shares	Options Exercise	$42,000	+75,000	+12479%	$0.5600	75,601	09 Nov 2021	Direct	F1
transaction	TMQ	Common Shares	Sale	$44,445	-23,392	-31%	$1.90	52,209	09 Nov 2021	Direct	F2
holding	TMQ	Common Shares						329,293	09 Nov 2021	Held by the Kalidas and Darlene Madhavpeddi Family Trust	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	Director Stock Option (Right to Buy)	Options Exercise	$0	-75,000	-100%	$0.000000^*	0	09 Nov 2021	Common Shares	75,000	$0.5600	Direct	F1

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

Explanation of Responses:

Id	Content
F1	Converted from Canadian exercise price of C$0.70 using an exchange rate of C$1.2448 = US$1.00.
F2	The sales price reported above is a weighted average price. The shares were sold in multiple transactions at prices ranging from C$2.33 to C$2.41, inclusive. The reporting person undertakes to provide to Trilogy Metals Inc., any security holder of Trilogy Metals Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote. The Canadian sales price of C$2.37 was converted into U.S dollars using an exchange rate of C$1.2448 - U.S. $1.00.
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.