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ANNEX A | | | | | | | |
Name | | | Age | | | Position(s) | |
Diane R. Garrett, Ph.D. | | | 62 | | | President, Chief Executive Officer and Director | |
Sean D. Goodman | | | 56 | | | Director | |
Michael Harrison | | | 50 | | | Director | |
Stephen A. Lang | | | 66 | | | Chairman of the Board | |
David Naccarati | | | 69 | | | Director | |
Thomas Weng | | | 53 | | | Director | |
Marni Wieshofer | | | 59 | | | Director | |
Total Number of Directors | | | 7 | | |||||||||
| | | Female | | | Male | | | Non-Binary | | | Did Not Disclose Gender | |
Part I: Gender Identity | | | | | | | | | | | | | |
Directors | | | 2 | | | 4 | | | — | | | 1 | |
Part II: Demographic Background | | | | | | | | | | | | | |
African American or Black | | | — | | | — | | | — | | | — | |
Alaskan Native or Native American | | | — | | | — | | | — | | | — | |
Asian | | | — | | | 1 | | | — | | | — | |
Hispanic or Latinx | | | — | | | — | | | — | | | — | |
Native Hawaiian or Pacific Islander | | | — | | | — | | | — | | | — | |
White | | | 2 | | | 3 | | | — | | | — | |
Two or More Races or Ethnicities | | | — | | | — | | | — | | | — | |
LGBTQ+ | | | — | | | — | | | — | | | — | |
Did Not Disclose Demographic Background | | | — | | | — | | | — | | | 1 | |
Name | | | Fees Earned or Paid in Cash ($) | | | Stock Awards ($)(1) | | | Total ($)(1) | | |||||||||
David Kirsch(2) | | | | $ | 48,750 | | | | | $ | 75,000 | | | | | $ | 123,750 | | |
Eugene Davis(3) | | | | $ | 72,500 | | | | | $ | 75,000 | | | | | $ | 155,750 | | |
John Ellis(4) | | | | $ | 33,750 | | | | | $ | 0 | | | | | $ | 33,750 | | |
Michael Harrison | | | | $ | 62,000 | | | | | $ | 75,000 | | | | | $ | 137,000 | | |
Stephen Lang(5)(6) | | | | $ | 30,750 | | | | | $ | 125,000 | | | | | $ | 155,750 | | |
David Naccarati(5) | | | | $ | 32,000 | | | | | $ | 125,000 | | | | | $ | 157,000 | | |
Thomas Weng(7) | | | | $ | 62,500 | | | | | $ | 75,000 | | | | | $ | 137,500 | | |
Marni Wieshofer | | | | $ | 70,000 | | | | | $ | 75,000 | | | | | $ | 145,000 | | |
Competencies | | | Garrett | | | Goodman | | | Harrison | | | Lang | | | Naccarati | | | Weng | | | Wieshofer | | |||||||||||||||||||||
Senior Executive Experience | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | |
(Experience in the highest level of management responsible for setting and achieving organizational objectives, strategic planning, and overall decision-making) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Other Public Company Directorships | | | | | X | | | | | | | | | | | | X | | | | | | X | | | | | | | | | | | | X | | | | | | X | | |
(Experience sitting on public company boards) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Mining Industry Experience | | | | | X | | | | | | | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | | | |
(Technical and leadership experience in listed mining companies (whether Canadian or US) of similar size, with similar operational assets and developing projects) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Financial Literacy & Experience | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | |
(Knowledge of financial accounting and reporting, internal financial controls, including the ability to critically assess financial viability and performance of the organization) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Capital Management | | | | | X | | | | | | X | | | | | | X | | | | | | | | | | | | | | | | | | X | | | | | | X | | |
(Experience in capital management strategies, including debt financing and capital raisings) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Technical Mining, Engineering or Geology Experience & Innovation | | | | | X | | | | | | | | | | | | X | | | | | | X | | | | | | X | | | | | | | | | | | | | | |
(Background or experience overseeing and innovating the technical engineering or geology aspects of mining) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Mine Development/Operating Experience | | | | | X | | | | | | | | | | | | X | | | | | | X | | | | | | X | | | | | | | | | | | | | | |
(Experience overseeing the development of mines and/or daily operations) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Business Development | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | |
(Experience in identifying and implementing growth opportunities, and creating long-term value for the organization from investors, markets, and relationships) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Permitting/Regulatory Experience | | | | | X | | | | | | | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | | | |
(Experience relating to regulatory approvals and permitting needed in connection with mining operations and development) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Legal Experience | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | X | | | | | | | | |
(Experience overseeing significant legal matters at an organization including stockholder lawsuits/threats and/or government investigations) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Human Resources Experience | | | | | X | | | | | | X | | | | | | X | | | | | | | | | | | | X | | | | | | X | | | | | | X | | |
(Experience with appointment and evaluation of senior executives as well as overseeing strategic human resource management including workforce planning, employee relations and organizational change) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Compensation Experience | | | | | X | | | | | | | | | | | | X | | | | | | X | | | | | | | | | | | | X | | | | | | X | | |
(Experience on compensation committees of public companies; analyzing and setting executive compensation while balancing risks, incentives and investor relations) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Competencies | | | Garrett | | | Goodman | | | Harrison | | | Lang | | | Naccarati | | | Weng | | | Wieshofer | | |||||||||||||||||||||
Health, Safety, Environmental, Sustainability Experience | | | | | X | | | | | | | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | |
(Experience related to health, safety, environmental, social responsibility and sustainability initiatives and their impact on the organization/investor relations) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Corporate Governance Experience | | | | | X | | | | | | | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | |
(Knowledge of best practice governance standards) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Government/Regulatory/Political Experience | | | | | X | | | | | | | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | |
(Experience in public and regulatory policies and management of impact on industry and the organization) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
First Nations/Community Relations Experience | | | | | X | | | | | | | | | | | | X | | | | | | | | | | | | | | | | | | | | | | | | | | |
(Experience with public relations relating to native peoples) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Information Technology and Innovation Experience | | | | | | | | | | | X | | | | | | | | | | | | | | | | | | X | | | | | | X | | | | | | X | | |
(Experience with IT security/breaches and/or knowledge of the strategic use and governance of information technology and innovation) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Strategic Planning Experience | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | |
(Ability to identify and critically assess opportunities and threats, and develop effective strategies to achieve the organization’s visions and objectives.) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Risk Management Experience | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | | | | | | | X | | |
(Ability to identify key risks to the organization, and monitor risk and compliance management frameworks and systems) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Name | | | Age | | | Position(s) | |
Diane R. Garrett, Ph.D. | | | 62 | | | President, Chief Executive Officer and Director | |
Stanton K. Rideout | | | 62 | | | Executive Vice President and Chief Financial Officer | |
Name and Principal Position | | | Year | | | Salary ($) | | | Bonus ($)(1) | | | Stock Awards(2) ($) | | | Non-Equity Incentive Plan Compensation(3) ($) | | | All Other Compensation(4) ($) | | | Total ($) | | |||||||||||||||||||||
Diane R. Garrett, Ph.D.(5) | | | | | 2021 | | | | | $ | 550,000 | | | | | $ | 0 | | | | | $ | 1,100,000 | | | | | $ | 0 | | | | | $ | 21,060 | | | | | $ | 1,671,060 | | |
President and CEO | | | | | 2020 | | | | | $ | 172,617 | | | | | $ | 0 | | | | | $ | 1,250,000 | | | | | $ | 0 | | | | | $ | 5,026 | | | | | $ | 1,427,643 | | |
Stanton K. Rideout(6) | | | | | 2021 | | | | | $ | 375,000 | | | | | $ | 0 | | | | | $ | 562,500 | | | | | $ | 0 | | | | | $ | 12,498 | | | | | $ | 949,060 | | |
Executive Vice President and Chief Financial Officer | | | | | 2020 | | | | | $ | 75,419 | | | | | $ | 0 | | | | | $ | 400,000 | | | | | $ | 0 | | | | | $ | 37,222 | | | | | $ | 512,641 | | |
John Henris (7) | | | | | 2021 | | | | | $ | 325,694 | | | | | $ | 0 | | | | | $ | 775,000 | | | | | $ | 0 | | | | | $ | 40,734 | | | | | $ | 1,141,428 | | |
Executive Vice President and Chief Operating Officer | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Jeffrey Stieber(8) | | | | | 2021 | | | | | | 215,306 | | | | | $ | 0 | | | | | $ | 230,000 | | | | | $ | 0 | | | | | $ | 15,011 | | | | | $ | 460,317 | | |
Senior Vice President, Finance and Treasurer; former Vice President and Interim Chief Financial Officer | | | | | 2020 | | | | | $ | 215,417 | | | | | $ | 100,000 | | | | | $ | 102,500 | | | | | $ | 24,600 | | | | | $ | 52,508 | | | | | $ | 495,025 | | |
Name | | | Year | | | 401(k) Matching Contributions ($) | | | Life Insurance Premiums ($) | | | Consulting Payments ($) | | | Moving and Other Expenses ($) | | | Total ($) | | ||||||||||||||||||
Diane R. Garrett, Ph.D. | | | | | 2021 | | | | | $ | 19,500 | | | | | $ | 1,560 | | | | | | | | | | | $ | 0 | | | | | $ | 21,060 | | |
| | | | | 2020 | | | | | $ | 2,750 | | | | | $ | 2,276 | | | | | | | | | | | $ | 0 | | | | | $ | 5,026 | | |
Stanton K. Rideout | | | | | 2021 | | | | | $ | 11,250 | | | | | $ | 1,248 | | | | | $ | 31,275(a) | | | | | $ | 0 | | | | | $ | 12,498 | | |
| | | | | 2020 | | | | | $ | 4,525 | | | | | $ | 1,422 | | | | | | | | | | | $ | 0 | | | | | $ | 37,222 | | |
John Henris | | | | | 2021 | | | | | $ | 19,271 | | | | | $ | 705 | | | | | | | | | | | $ | 20,215 | | | | | $ | 40,734 | | |
Jeffrey Stieber | | | | | 2021 | | | | | $ | 13,595 | | | | | $ | 1,416 | | | | | | | | | | | $ | 0 | | | | | $ | 15,011 | | |
| | | | | 2020 | | | | | $ | 17,100 | | | | | $ | 705 | | | | | | | | | | | $ | 34,703(b) | | | | | $ | 52,508 | | |
| | | Stock Awards | | |||||||||||||||
Name | | | Number of Shares or Units of Stock that have not yet Vested (#)(1) | | | Market Value of Shares or Units of Stock that have not vested ($)(2) | | | Equity Incentive Plan Awards: Number of Unearned Shares, Units, or Other Rights That Have Not Vested (#) (3) | | | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units, or Other Rights That Have Not Vested ($) | | ||||||
Diane R. Garrett, Ph.D. | | | | | 23,427 | | | | | $ | 14,384 | | | | | | | | |
| | | | | 154,494 | | | | | $ | 94,859 | | | | | | | | |
| | | | | 96,154 | | | | | $ | 59,039 | | | | | | | | |
Stanton K. Rideout | | | | | 12,803 | | | | | $ | 7,861 | | | | | | | | |
| | | | | 32,982 | | | | | $ | 20,251 | | | | | | | | |
| | | | | 79,003 | | | | | $ | 448,508 | | | | | | | | |
John Henris(3) | | | | | 0 | | | | | $ | 0 | | | | | | | | |
Jeffrey Stieber(4) | | | | | 0 | | | | | $ | 0 | | | | | | | | |
Name | | | RSU Grant Amount | | | Grant Date | | | Vesting Schedule | |
Diane R. Garrett, Ph.D. | | | 34,966 | | | 12/15/2020 | | | See footnote (a) | |
| | | 154,495 | | | 03/02/2021 | | | See footnote (b) | |
| | | 96,154 | | | 9/8/2020 | | | 100% of the grant will vest on September 8, 2024. | |
Stanton K. Rideout | | | 19,109 | | | 12/17/2020 | | | See footnote (a) | |
| | | 79,003 | | | 03/02/2021 | | | See footnote (b) | |
| | | 32,982 | | | 10/20/2020 | | | 100% of the grant will vest on October 20, 2024. | |
John Henris | | | 73,736 | | | 03/02/2021 | | | See footnotes (b) and (3) | |
| | | 33,423 | | | 1/11/2021 | | | 100% of the grant will vest on January 11, 2025. | |
Jeffrey Stieber | | | 55,647 | | | 2/20/2019 | | | See footnote (c) | |
| | | 14,336 | | | 12/15/2020 | | | See footnotes (a) and (4) | |
| | | 32,304 | | | 03/02/2021 | | | See footnote (b) and (4) | |
| | | Class A Common Stock | | | Class B Common Stock | | ||||||||||||||||||
Name and Address of Beneficial Owner (1) | | | Number of Shares Beneficially Owned | | | % of Class | | | Number of Shares Beneficially Owned | | | % of Class | | ||||||||||||
Mudrick Capital Acquisition Holdings LLC(2) | | | | | — | | | | | | — | | | | | | 5,200,000 | | | | | | 100% | | |
Jason Mudrick(2) | | | | | — | | | | | | — | | | | | | 5,200,000 | | | | | | 100% | | |
Victor Danh(3) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
David Kirsch(3) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Glenn Springer(3) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Dennis Stogsdill(3) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Timothy Daileader(3) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Dr. Brian Kushner(3) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
All directors and executive officers as a group (7 individuals) | | | | | — | | | | | | — | | | | | | 5,200,000 | | | | | | 100% | | |
Polar Asset Management Partners Inc.(4) | | | | | 2,079,800 | | | | | | 9.99% | | | | | | — | | | | | | — | | |
AQR Capital Management, LLC(5) | | | | | 1,150,000 | | | | | | 5.53% | | | | | | — | | | | | | — | | |
Basso Capital Management, L.P.(6) | | | | | 1,427,243 | | | | | | 6.9% | | | | | | — | | | | | | — | | |
Glazer Capital, LLC(7) | | | | | 1,648,282 | | | | | | 7.9% | | | | | | — | | | | | | — | | |
Weiss Asset Management LP(8) | | | | | 1,454,766 | | | | | | 6.69% | | | | | | — | | | | | | — | | |
Name and Address of Beneficial Owner | | | Shares Beneficially Owned | | | Percentage of Beneficial Ownership | | ||||||
5% or Greater Stockholders | | | | | | | | | | | | | |
Mudrick Capital Management, L.P. and affiliated entities(1) | | | | | 37,703,375 | | | | | | 17.9% | | |
American Multi-Cinema, Inc.(2) | | | | | 46,816,480 | | | | | | 21.2% | | |
2176423 Ontario Ltd.(3) | | | | | 23,408,240 | | | | | | 11.9% | | |
Named Executive Officers and Directors(4) | | | | | | | | | | | | | |
Diane R. Garrett, Ph.D.(5) | | | | | 163,061 | | | | | | * | | |
Stanton K. Rideout(6) | | | | | 108,683 | | | | | | * | | |
John Henris | | | | | 0 | | | | | | * | | |
Jeffrey Stieber | | | | | 0 | | | | | | * | | |
Sean Goodman(7) | | | | | 0 | | | | | | * | | |
Michael Harrison(8) | | | | | 42,352 | | | | | | * | | |
Stephen Lang(9) | | | | | 29,280 | | | | | | * | | |
David Naccarati(10) | | | | | 29,280 | | | | | | * | | |
Thomas Weng(11) | | | | | 34,852 | | | | | | * | | |
Marni Wieshofer(12) | | | | | 34,852 | | | | | | * | | |
All executive officers and directors as a group (8 individuals)(13) | | | | | 442,360 | | | | | | * | | |
| | | For the Years Ended December 31, | | |||||||||
| | | 2021 | | | 2020 (Including Services Provided to Seller Prior to the Recapitalization Transaction | | ||||||
Audit Fees | | | | $ | 380,500 | | | | | $ | 259,275 | | |
Audit-Related Fees | | | | | 0 | | | | | | 0 | | |
Tax Fees | | | | | 0 | | | | | | 0 | | |
All Other Fees | | | | | 60,000 | | | | | | 151,904 | | |
| Share Awards Outstanding | | | | | 1,152,272 | | |
| Shares Available to Grant following Approval of Increased Authorization | | | | | 12,000,000 | | |
| Shares of Common Stock Outstanding | | | | | 196,803,459 | | |
| Overhang (Outstanding plus Available to Grant | | | | | 6.27% | | |
| Overhang (Available to Grant only) | | | | | 5.72% | | |
| | | 2020 | | | 2021 | | ||||||
Share Awards Granted | | | | | 517,234 | | | | | | 1,171,869 | | |
Impact of Fluctuations in Common Stock Price(1) | | | | | | | | | | | 1,632,136 | | |
Weighted Average Common Stock Outstanding | | | | | 34,833,213 | | | | | | 60,101,499 | | |
Burn Rate | | | | | 1.48% | | | | | | 4.67% | | |
Average Burn Rate | | | | | | | | | | | 3.08% | | |
| | | Number of securities to be issued upon exercise of outstanding options, warrants, and rights (a) | | | Weighted-average exercise price of outstanding options, warrants, and rights (b) (1) | | | Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) (c) | | |||||||||
Approved by security holders(2) | | | | | 2,762,316 | | | | | $ | — | | | | | | — | | |
Not approved by security holders(2) | | | | | — | | | | | | — | | | | | | — | | |
Total | | | | | 2,762,316 | | | | | $ | — | | | | | | — | | |
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| | | | A-18 | | | |
| | | | A-18 | | | |
| | | | A-18 | | | |
| | | | A-18 | | | |
| | | | A-18 | | | |
| | | | A-19 | | | |
| | | | A-19 | | | |
| | | | A-19 | | | |
| | | | A-19 | | | |
| | | | A-19 | | | |
| | | | A-19 | | | |
| | | | A-19 | | |