UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): September 13, 2016
PARAMOUNT GOLD NEVADA CORP.
(Exact name of registrant as specified in its charter)
Nevada
(State or Other Jurisdiction of Incorporation)
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001-36908 | | 98-0138393 |
(Commission File Number) | | (IRS Employer Identification No.) |
665 Anderson Street
Winnemucca, Nevada
89445
(Address of Principal Executive Offices)
(775) 625-3600
(Registrant’s telephone number, including area code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 5.02(d)Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 13, 2016, the Board of Directors (the “Board”) of Paramount Gold Nevada Corp. (the “Company”) appointed Pierre Pelletier as a director to the Board. It is not yet known to which committee(s) of the Board of Directors Mr. Pelletier will be appointed.
As a non-employee director of the Company, Mr. Pelletier will receive an annual retainer of $10,000 along with equity compensation as determined by the Compensation Committee. On the date of his appointment Mr. Pelletier was granted 50,000 stock options of the Company at an exercise price of $2.12 per share, which is equal to the closing sales price for our common stock as quoted on the NYSE MKT stock market on September 13, 2016. One third of the stock options vest immediately, one third vest on the first anniversary of the grant and the Company’s share price closing above 35% of the exercise price for ten days and one third on the second anniversary of the grant and the Company’s share price closing above 50% of the exercise price for ten days. The ten days for the unvested options do not have to be consecutive. The term of the stock option grant is five years.
There are no transactions between Mr. Pelletier and the Company that would be required to be reported under Item 404(a) of Regulation S-K.
The Company’s press release announcing the appointment is attached to this Report as Exhibit 99.1.
Item 9.01.Financial Statements and Exhibits.
(d)List of Exhibits
Exhibit Number | | Description |
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Exhibit 99.1* | | Press Release dated September 15, 2016 |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| | PARAMOUNT GOLD NEVADA CORP. |
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Date: September 15, 2016 | | By: | /s/ Carlo Buffone |
| | | Carlo Buffone |
| | | Chief Financial Officer |
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Exhibit Index
Exhibit Number | | Description |
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Exhibit 99.1* | | Press Release dated September 15, 2016 |
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