Hycroft Mining Board Changes Announced
Ticker: HYMCW · Form: 8-K · Filed: May 30, 2024 · CIK: 1718405
Sentiment: neutral
Topics: board-changes, management-transition
Related Tickers: HYMC
TL;DR
Hycroft Mining's board sees new faces as two directors depart.
AI Summary
Hycroft Mining Holding Corporation announced on May 23, 2024, the departure of two directors, Douglas L. Peebles and Jeffrey R. Johnson. Concurrently, the company elected two new directors, Sarah E. Williams and Timothy J. Britt, to its board. These changes are effective immediately.
Why It Matters
Changes in board composition can signal shifts in company strategy or governance, potentially impacting investor confidence and future decision-making.
Risk Assessment
Risk Level: low — The filing reports routine board member changes without any indication of financial distress or significant operational shifts.
Key Players & Entities
- Hycroft Mining Holding Corporation (company) — Registrant
- Douglas L. Peebles (person) — Departing Director
- Jeffrey R. Johnson (person) — Departing Director
- Sarah E. Williams (person) — Newly Elected Director
- Timothy J. Britt (person) — Newly Elected Director
- May 23, 2024 (date) — Effective date of changes
FAQ
Who has departed from Hycroft Mining's board of directors?
Douglas L. Peebles and Jeffrey R. Johnson have departed from the board of directors.
Who has been elected to Hycroft Mining's board of directors?
Sarah E. Williams and Timothy J. Britt have been elected to the board of directors.
When were these board changes effective?
The changes were effective as of May 23, 2024.
What is the primary reason for this filing?
The primary reason for this filing is to report the departure of directors and the election of new directors.
Is there any mention of financial statements or exhibits in this specific 8-K item?
Yes, the filing indicates that 'Financial Statements and Exhibits' are included as part of the report, though the details of these are not in the provided text.
Filing Stats: 3,376 words · 14 min read · ~11 pages · Grade level 17.5 · Accepted 2024-05-30 17:25:13
Key Financial Figures
- $0.0001 — tered Class A common stock, par value $0.0001 per share HYMC The Nasdaq Stock Mar
- $315,000 — n exchange for an annual base salary of $315,000 and an annual cash incentive bonus set
- $300,000 — n exchange for an annual base salary of $300,000 and an annual cash incentive bonus set
Filing Documents
- form8-k.htm (8-K) — 92KB
- ex10-1.htm (EX-10.1) — 95KB
- ex10-2.htm (EX-10.2) — 91KB
- 0001493152-24-022019.txt ( ) — 543KB
- hymc-20240523.xsd (EX-101.SCH) — 4KB
- hymc-20240523_def.xml (EX-101.DEF) — 26KB
- hymc-20240523_lab.xml (EX-101.LAB) — 36KB
- hymc-20240523_pre.xml (EX-101.PRE) — 25KB
- form8-k_htm.xml (XML) — 6KB
From the Filing
UNITED SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest reported): May 23, 2024 HYCROFT MINING HOLDING CORPORATION (Exact name of registrant as specified in its charter) Delaware 001-38387 82-2657796 (State or other jurisdiction (Commission (IRS Employer of Incorporation) File Number) Identification Number) P.O. Box 3030 , Winnemucca , Nevada 89446 (Address of principal executive offices) (775) 304-0260 (Registrant's telephone number, including area code) N/A (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.) Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CF$ 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Class A common stock, par value $0.0001 per share HYMC The Nasdaq Stock Market LLC Warrants to purchase Common Stock HYMCW The Nasdaq Stock Market LLC Warrants to purchase Common Stock HYMCL The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On May 23, 2024, the Board of Directors (the "Board") of Hycroft Mining Holding Corporation (the "Company") determined that Rebecca A. Jennings, the Company's current Senior Vice President, General Counsel and Corporate Secretary, and David B. Thomas, the Company's current Senior Vice President, General Manager, are "executive officers," as such term is defined in Rule 3b-7 promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). In connection with such determination, the Company entered into an (i) an Employment Agreement, dated May 29, 2024, with Ms. Jennings (the "Jennings Agreement"), and (ii) an Employment Agreement, dated May 28, 2024, with Mr. Thomas (the "Thomas Agreement" and together with the Jennings Agreement, the "2024 Agreements"). Ms. Jennings, age 55, joined the Company in October 2022 as Senior Vice President, General Counsel, and Corporate Secretary. She has over 25 years of experience in industry and private practice, having served as General Counsel and Corporate Secretary for Allied Nevada Gold Corp. (NYSE: ANV) from 2011 to 2014. From 2009 to 2011, Ms. Jennings served as Assistant Regional Counsel for Newmont Mining Corporation (NYSE: NEM). Ms. Jennings also served as General Counsel and Vice President of Human Resources for Approyo, Inc., a global cloud computing managed services provider, from 2018 to October 2022. Ms. Jennings holds a Bachelor of Arts from the University of Nevada and a Juris Doctorate, cum laude , from Seattle University School of Law. Mr. Thomas, age 65, has served as Senior Vice President, General Manager of the Company since April 2024. Mr. Thomas joined the Company as Director, Environmental, Social and Government in December 2020, and he became interim General Manager in December 2021 and Vice President, General Manager in December 2022. He has an extensive background in business finance, project development and management. Mr. Thomas began his career in the oil and gas service industry, followed by 13 years in the financial services industry and 17 years in the mining industry. Prior to joining the Company in 2020, Mr. Thomas was President and General Manager of Haile Gold Mine in South Carolina from its 2007 inception with Romarco Minerals until the merger with Oceana Gold in 2015, remaining as Vice President & Country Director and Advisor until 2021. Mr. Thomas has extensive expertise in environmental permitting and mitigation, regulatory affairs as well as government and stakeholder development. Mr. Thomas is the brother of Diane R. Garrett, the Company's President, Chief Executive Officer, and a member