Rare Element Resources Ltd. Director Resigns
Ticker: REEMF · Form: 8-K · Filed: Mar 18, 2024 · CIK: 1419806
Sentiment: neutral
Topics: director-departure, disclosure
TL;DR
Rare Element Resources Ltd. director Patrick O'Callaghan out, other exec comp details filed.
AI Summary
Rare Element Resources Ltd. announced on March 14, 2024, a change in its board of directors. Specifically, Mr. Patrick L. O'Callaghan has resigned from his position as a director. The company also disclosed compensatory arrangements for certain officers and provided financial statements and exhibits.
Why It Matters
Changes in board composition can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing primarily concerns a director's resignation and routine disclosures, with no immediate financial or operational risks indicated.
Key Players & Entities
- Rare Element Resources Ltd. (company) — Registrant
- Patrick L. O'Callaghan (person) — Resigned Director
- March 14, 2024 (date) — Date of earliest event reported
FAQ
Who resigned from the board of directors?
Mr. Patrick L. O'Callaghan resigned from the board of directors.
What is the date of the earliest event reported in this filing?
The date of the earliest event reported is March 14, 2024.
What type of filing is this?
This is a Form 8-K Current Report.
What are the main items disclosed in this filing?
The filing discloses the departure of a director, election of directors, appointment of officers, compensatory arrangements of certain officers, Regulation FD Disclosure, and Financial Statements and Exhibits.
What is the principal executive office address of Rare Element Resources Ltd.?
The principal executive office is located at P.O. Box 271049, Littleton, Colorado, 80127.
Filing Stats: 1,865 words · 7 min read · ~6 pages · Grade level 11.3 · Accepted 2024-03-18 08:21:12
Key Financial Figures
- $320,000 — inski's initial annual base salary is US$320,000; (ii) he will be paid by May 31, 2024,
- $60,000 — e-time signing bonus in the amount of US$60,000, which must be repaid to the Company if
- $20,208 — ears 2023 and 2022 monthly retainers of $20,208 and $19,250, respectively, and received
- $19,250 — d 2022 monthly retainers of $20,208 and $19,250, respectively, and received cash bonuse
- $82,500 — pectively, and received cash bonuses of $82,500 and $75,000, respectively. Ms. Kast's m
- $75,000 — nd received cash bonuses of $82,500 and $75,000, respectively. Ms. Kast's monthly retai
- $21,250 — Kast's monthly retainer was adjusted to $21,250 in 2024. In addition, on January 4, 202
Filing Documents
- tm249054d1_8k.htm (8-K) — 39KB
- tm249054d1_ex10-1.htm (EX-10.1) — 101KB
- tm249054d1_ex99-1.htm (EX-99.1) — 14KB
- tm249054d1_ex99-1img001.jpg (GRAPHIC) — 17KB
- 0001104659-24-035279.txt ( ) — 374KB
- reemf-20240314.xsd (EX-101.SCH) — 3KB
- reemf-20240314_lab.xml (EX-101.LAB) — 33KB
- reemf-20240314_pre.xml (EX-101.PRE) — 22KB
- tm249054d1_8k_htm.xml (XML) — 3KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On March 18, 2024, Rare Element Resources Ltd. issued a press release announcing the appointments of Mr. Mushinski and Ms. Kast and the departure of Mr. Berg. A copy of the news release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information in this Item 7.01, including the information set forth in Exhibit 99.1, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the " Exchange Act "), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits . Exhibit No. Description 10.1* Employment Agreement, dated as of March 15, 2024, by and between Rare Element Resources, Inc. and Kenneth Mushinski. 99.1 Press release, dated as of March 18, 2024. 104 Cover Page Interactive Data File (formatted in Inline XBRL and included as Exhibit 101). * Indicates a management contract or compensatory plan, contract or arrangement. 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. Date: March 18, 2024 RARE ELEMENT RESOURCES LTD. By: /s/ Wayne E. Rich Name: Wayne E. Rich Title: Chief Financial Officer