Rare Element Resources Ltd. Reports Board and Executive Changes
Ticker: REEMF · Form: 8-K · Filed: Jul 2, 2024 · CIK: 1419806
Sentiment: neutral
Topics: management-change, board-of-directors, executive-compensation
TL;DR
Board shakeup and exec pay changes at Rare Element Resources. New directors in, some out.
AI Summary
Rare Element Resources Ltd. announced on June 30, 2024, changes in its board of directors and executive compensation arrangements. The filing details the departure of certain officers and directors, the election of new directors, and updates to compensatory arrangements for key personnel. Specific details regarding the individuals involved and the financial implications of these changes are outlined within the report.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy, governance, or financial outlook, impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in leadership and compensation can introduce uncertainty regarding future strategy and operational stability.
Key Players & Entities
- Rare Element Resources Ltd. (company) — Registrant
- June 30, 2024 (date) — Date of earliest event reported
- British Columbia (location) — State or other jurisdiction of incorporation
- Littleton, Colorado (location) — Address of principal executive offices
- 720-278-2460 (phone_number) — Registrant's telephone number
FAQ
What specific roles have been affected by the director and officer changes?
The filing indicates changes related to the 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers' and 'Compensatory Arrangements of Certain Officers,' suggesting shifts in leadership positions.
When were these changes effective?
The earliest event reported is dated June 30, 2024.
Are there any details on the new directors elected?
The filing mentions the 'Election of Directors' as an item of report, implying new directors have been appointed, though specific names are not detailed in the provided excerpt.
What is the company's primary business?
Rare Element Resources Ltd. is listed under the Standard Industrial Classification for 'GOLD & SILVER ORES [1040]'.
Where is Rare Element Resources Ltd. headquartered?
The company's principal executive offices are located in Littleton, Colorado.
Filing Stats: 1,299 words · 5 min read · ~4 pages · Grade level 12 · Accepted 2024-07-02 11:51:33
Key Financial Figures
- $310,000 — Kast's initial annual base salary is US$310,000; (ii) Ms. Kast will be eligible to rece
Filing Documents
- reemf-20240630x8k.htm (8-K) — 46KB
- reemf-20240630xex10d1.htm (EX-10.1) — 111KB
- 0001419806-24-000012.txt ( ) — 289KB
- reemf-20240630.xsd (EX-101.SCH) — 3KB
- reemf-20240630_lab.xml (EX-101.LAB) — 13KB
- reemf-20240630_pre.xml (EX-101.PRE) — 8KB
- reemf-20240630x8k_htm.xml (XML) — 4KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On June 30, 2024, the board of directors (the " Board ") of Rare Element Resources Ltd. (the " Registrant "), appointed Kelli Kast as the Vice President, General Counsel and Chief Administrative Officer of the Registrant, in each case effective as of July 1, 2024. In connection with the officer appointment, on June 30, 2024, the Board and Ms. Kast, a director of the Registrant, agreed that she would not stand for re-election as a director of the Registrant at its 2024 annual meeting of shareholders. The decision not to stand for re-election as a director was not because of any disagreement with the Registrant on any matter relating to its operations, policies or practices. Ms. Kast, 57, has over 25 years of in-house legal experience, including as top legal officer in the precious metals industry for seven years and 12 years in the rare earth industry. She has served as a consultant of Rare Element Resources, Inc., a wholly owned subsidiary of the Registrant (the " Company "), since June 2015, and as a director of the Registrant since August 2022. From July 2012 to May 2015, Ms. Kast served as the Vice President, General Counsel, Chief Administrative Officer and Corporate Secretary of the Registrant. She served as Coeur d'Alene Mine Corporation's Vice President, General Counsel and Corporate Secretary from May 2005 to March 2009 and as its Chief Administrative Officer from March 2009 to December 2011. From 2004 to 2005, Ms. Kast served as Corporate Counsel for HealtheTech Inc. From 1997 to 2003, she served as the Assistant General Counsel and Corporate Secretary for Global Water Technologies Inc. and Psychrometric Systems, Inc. From January 1996 through December 1997, she served as corporate counsel for Boise Cascade Corporation. Ms. Kast earned her Juris Doctor from the University of South Dakota School of
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits . Exhibit No. Description 10.1* Employment Agreement, dated as of July 1, 2024, by and between Rare Element Resources, Inc. and Kelli Kast 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: July 2, 2024 RARE ELEMENT RESOURCES LTD. By: /s/ Wayne E. Rich Name: Wayne E. Rich Title: Chief Financial Officer