Director Beaven Richard Scott exercised 10,500 shares at a strike of $4.89 and covered exercise/tax liability with 1,317 shares, increasing direct ownership by 230% to 13,183 units (SEC Form 4)
$IDR
Precious Metals
Basic Materials
| FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
| Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10. | |||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
Idaho Strategic Resources, Inc. [ IDR ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 07/21/2025 | ||||||||||||||||||||||||||
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4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
| Common Stock | 07/21/2025 | 07/21/2025 | M | 5,000(1) | A | $4.75 | 9,000 | D | ||
| Common Stock | 07/21/2025 | 07/21/2025 | M | 2,500(2) | A | $4.75 | 11,500(2) | D | ||
| Common Stock | 07/21/2025 | 07/21/2025 | F | 566(2) | D | $20.98 | 10,934(2) | D | ||
| Common Stock | 07/21/2025 | 07/21/2025 | M | 3,000(3) | A | $5.25 | 13,934(3) | D | ||
| Common Stock | 07/21/2025 | 07/21/2025 | F | 751(3) | D | $20.98 | 13,183(3) | D | ||
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Stock Options | $4.75 | 07/21/2025 | 07/21/2025 | M | 7,500(1)(2) | 09/28/2022 | 09/27/2025 | Common Stock | 7,500 | $0 | 13,000 | D | |||
| Stock Options | $5.25 | 07/21/2025 | 07/21/2025 | M | 3,000(3) | 09/06/2022 | 09/05/2025 | Common Stock | 3,000 | $0 | 10,000 | D | |||
| Explanation of Responses: |
| 1. The Reporting Person exercised 5,000 stock options with and exercise price of $4.75. This is a partial exercise of the full grant of 7,500 stock options on 9/28/2022 pursuant to the Issuer's 2014 Equity Incentive Plan. The remaining 2,500 stock options were exercised cashless at the same time. |
| 2. Reflects 566 stock options retired by the Issuer at the market price of $20.98 per share, less an exercise price of $4.75 per share to fund the cashless exercise of 2,500 stock options owned by the Reporting Person pursuant to the Issuer's 2014 Equity Incentive Plan. |
| 3. Reflects 751 stock options retired by the Issuer at the market price of $20.98 per share, less an exercise price of $5.25 per share to fund the cashless exercise of 3,000 stock options owned by the Reporting Person pursuant to the Issuer's 2014 Equity Incentive Plan. |
| Remarks: |
| With the exception of the first transaction in Table 1 above, which was a cash exercise of stock options, the transactions reported in Table I reflect the cashless exercise of stock options. The cashless exercise for each set of options is reported in two lines. The first line of the cashless exercise transaction is coded M in column 3 of Table I and reports in column 4 the number of shares issuable upon exercise of the options had cash been paid to exercise the options, together with the exercise price with code A for acquired. The line coded F in column 3 of Table I relates to the same cashless exercise on the preceding line and reports in column 4 the number of shares deducted from the total number of shares issuable to pay for the cashless exercise of such options with code D for disposed. The transactions reported in Table II above, reflect the disposition of the same stock options whose cashless exercise is disclosed in Table I above. |
| /s/ Richard S. Beaven | 07/23/2025 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||