On June 15, 2017, Gordon J. Bogden tendered his resignation from the Board of Directors of Royal Gold, Inc. effective June 30, 2017. Mr. Bogden's resignation from the Board was not a result of a disagreement with the Company on any matter relating to the Company's operations, policies or practices. On June 15, 2017, pursuant to its authority under the company's bylaws, the Board decreased the size of the Board from nine to eight directors effective June 30, 2017.