Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Heissenbuttel William Holmes
   2. Issuer Name and Ticker or Trading Symbol
ROYAL GOLD INC [RGLD] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
VP Corporate Development
(Last)
(First)
(Middle)
1660 WYNKOOP, #1000		 3. Date of Earliest Transaction (Month/Day/Year)
08/23/2017
(Street)

DENVER, CO 80202		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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 08/23/2017   M   6,918 A $ 0 70,518 (1) D  
Common Stock 08/23/2017   F   3,166 (2) D $ 87.42 67,352 (1) D  
Common Stock 08/23/2017   A   3,350 (3) A $ 0 70,702 (4) D  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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 Underlying Securities
(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 of Derivative Security: 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
Performance Shares $ 0 08/23/2017   M     1,100   (5) 08/13/2017 Common Stock 1,100 $ 0 0 D  
Performance Shares $ 0 08/23/2017   M     2,200   (5) 08/27/2018 Common Stock 2,200 $ 0 6,600 D  
Performance Shares $ 0 08/23/2017   M     1,860   (5) 08/20/2020 Common Stock 1,860 $ 0 282 D  
Performance Shares $ 0 08/23/2017   M     1,758   (5) 08/16/2021 Common Stock 1,758 $ 0 1,522 D  
Stock Options (Right to Buy ISOs) $ 87.42 08/23/2017   A   1,143     (6) 08/23/2027 Common Stock 1,143 $ 87.42 1,143 D  
Stock Appreciation Right (SARs) $ 87.42 08/23/2017   A   8,057     (6) 08/23/2027 Common Stock 8,057 $ 87.42 8,057 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Heissenbuttel William Holmes
1660 WYNKOOP
#1000
DENVER, CO 80202		       VP Corporate Development  

Signatures

 Margaret A Beck as Attorney-in-Fact for William Holmes Heissenbuttel   08/25/2017
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) Includes 15,360 shares of restricted stock that have not vested.
(2) Represents shares withheld to satisfy taxes; no shares were sold.
(3) Grant of restricted stock with a 2-year hold and then vesting as to one-third in years 3, 4 and 5.
(4) Includes 18,710 shares of restricted stock that have not vested.
(5) A performance award represents a contingent right to receive shares of common stock upon achievement of certain performance goals.
(6) One-third vest annually over 3 years beginning on August 23, 2018.

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