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Pay vs Performance Disclosure
12 Months Ended
Dec. 31, 2023
USD ($)
$ / oz
Dec. 31, 2022
USD ($)
$ / oz
Dec. 31, 2021
USD ($)
$ / oz
Pay vs Performance Disclosure      
Pay vs Performance Disclosure, Table

    

VALUE OF INITIAL 

 

FIXED $100 INVESTMENT

 

 BASED ON

 

    

    

    

AVERAGE

AVERAGE

    

PEER

    

 

SUMMARY

COMPENSATION

GROUP

 

SUMMARY

COMPENSATION

ACTUALLY PAID

TOTAL

TOTAL

 

COMPENSATION

COMPENSATION

TABLE FOR

TO

SHARE -

SHARE

NET

 

TABLE TOTAL FOR

ACTUALLY PAID

NON-PEO

NON-PEO

HOLDER

HOLDER

INCOME(4)

AISC PER

    

PEO(1)

    

TO PEO(1)(6)

    

NEOS(2)

    

NEOS(2)(6)

    

RETURN

    

RETURN(3)

    

(MILLIONS)

    

OUNCE(5)

2023

$

342,169

$

370,451

$

465,977

$

460,061

$

73.20

$

116.03

$

55.30

$

1,615.30

2022

$

3,586

$

(69,110)

$

336,661

$

294,413

$

46.14

$

109.14

$

(81.08)

$

1,687.88

2021

$

3,706

$

(46,710)

$

280,593

$

235,417

$

69.80

$

123.37

$

(56.71)

$

1,634.69

(1)In his capacity as Chief Executive Officer, Mr. McEwen is included as our Principal Executive Officer (“PEO”) for 2023, 2022, and 2021. See the Summary Compensation Table Total versus Compensation Actually Paid Reconciliation Table below for additional details.
(2)In 2023, the Non-PEO NEOs comprises Mr. Ing, Mr. Shaver, Ms. Diges and Mr. Spears. In 2022, the Non-PEO NEOs comprises Mr. Ing (prorated based on June 6, 2022 Interim CFO start date), Mr. Shaver (prorated based on June 6, 2022 COO start date), Mr. McGibbon, Mr. Meding (prorated based on February 11, 2022 start date), Ms. Ladd-Kruger (prorated based on June 3, 2022 CFO end date) and Mr. Mah (prorated based on June 3, 2022 COO end date). In 2021, the Non-PEO NEOs comprises Ms. Ladd-Kruger, Mr. Mah, Mr. McGibbon (prorated based on April 10, 2021 start date), Mr. Wallin (prorated based on April 12, 2021 hire date), Mr. Woolfenden (prorated based on March 23, 2021 end date) and Mr. Iaboni (prorated based on January 22, 2021 end date).
(3)Peer Group TSR comprises the NYSE Composite Index.
(4)Represents Company Net Income as disclosed in the Company’s Annual Report on Form 10-K for the respective years.
(5)All-in sustaining costs (AISC) per ounce is a US Non-GAAP measure consisting of cash costs, plus accretion of retirement obligations and amortization of the asset retirement costs related to operating sites, environmental rehabilitation costs for mines with no reserves, sustaining exploration and development costs, sustaining capital expenditures and sustaining lease payments. Our all-in sustaining costs exclude the allocation of corporate general and administrative costs. The sum of all-in sustaining costs is divided by the corresponding gold equivalent ounces sold to determine a per ounce amount.
(6)“Compensation Actually Paid to PEO” and “Average Compensation Actually Paid to non-PEO NEOs” reflects the following adjustments from Total Compensation reported in the Summary Compensation Table:

    

PEO

    

OTHER NEO AVERAGE

ADJUSTMENTS(*)

2023

2022

2021

2023

2022

2021

Summary Compensation Table Total

    

  

    

$

342,169

    

$

3,586

    

$

3,706

    

$

465,977

    

$

336,661

    

$

280,593

Deduction for amount reported in “Stock Awards” column of the Summary Compensation Table

 

(−)

$

$

$

$

17,662

$

$

Deduction for amounts reported in “Option Awards” column of the Summary Compensation Table

 

(−)

$

336,330

$

$

$

126,124

$

$

28,642

Addition of fair value at fiscal year (FY) end, of equity awards granted during the FY that remained outstanding

 

(+)

$

375,080

$

$

$

140,655

$

10,091

$

24,283

Addition of fair value at vesting date, of equity awards granted during the FY that vested during the FY

 

(+)

$

$

$

$

$

$

Addition of change in fair value at FY end versus prior FY end for awards granted in prior FY that remained outstanding

 

(+)

$

(10,468)

$

(72,696)

$

(50,416)

$

(2,785)

$

(2,090)

$

(12,656)

Addition of change in fair value at vesting date versus prior FY end for awards granted in prior FY that vested during the FY

 

(+)

$

$

$

$

$

$

Deduction of the fair value at the prior FY end for awards granted in prior FY that failed to meet their vesting conditions

 

(−)

$

$

$

$

$

50,249

$

28,161

Addition in respect of any dividends accrued or other earnings paid during applicable FY prior to vesting date of underlying award

 

(+)

$

$

$

$

$

$

Addition of incremental fair value of any options or SARS modified during the FY

 

(+)

$

$

$

$

$

$

Deduction changes in pension and deferred compensation plans

 

(−)

$

$

$

$

$

$

Addition for the Service Cost attributable to services rendered during the FY

 

(+)

$

$

$

$

$

$

Addition for the prior Service Cost in respect of a plan amendment or initiation during the FY

 

(+)

$

$

$

$

$

$

Compensation Actually Paid

 

  

$

370,451

$

(69,110)

$

(46,710)

$

460,061

$

294,413

$

235,417

(*)

Equity valuations have been calculated in accordance with the requirements for Compensation Actually Paid. Adjustment for Option Awards represents the sum of changes in fair value during the fiscal year. The fair market value of stock options is determined with the Black-Scholes model. The Black- Scholes model is further described in Note 13 to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.

   
Company Selected Measure Name All-in sustaining costs    
Named Executive Officers, Footnote
(1)In his capacity as Chief Executive Officer, Mr. McEwen is included as our Principal Executive Officer (“PEO”) for 2023, 2022, and 2021. See the Summary Compensation Table Total versus Compensation Actually Paid Reconciliation Table below for additional details.
(2)In 2023, the Non-PEO NEOs comprises Mr. Ing, Mr. Shaver, Ms. Diges and Mr. Spears. In 2022, the Non-PEO NEOs comprises Mr. Ing (prorated based on June 6, 2022 Interim CFO start date), Mr. Shaver (prorated based on June 6, 2022 COO start date), Mr. McGibbon, Mr. Meding (prorated based on February 11, 2022 start date), Ms. Ladd-Kruger (prorated based on June 3, 2022 CFO end date) and Mr. Mah (prorated based on June 3, 2022 COO end date). In 2021, the Non-PEO NEOs comprises Ms. Ladd-Kruger, Mr. Mah, Mr. McGibbon (prorated based on April 10, 2021 start date), Mr. Wallin (prorated based on April 12, 2021 hire date), Mr. Woolfenden (prorated based on March 23, 2021 end date) and Mr. Iaboni (prorated based on January 22, 2021 end date).
   
Peer Group Issuers, Footnote
(3)Peer Group TSR comprises the NYSE Composite Index.
   
PEO Total Compensation Amount $ 342,169 $ 3,586 $ 3,706
PEO Actually Paid Compensation Amount $ 370,451 (69,110) (46,710)
Adjustment To PEO Compensation, Footnote
(6)“Compensation Actually Paid to PEO” and “Average Compensation Actually Paid to non-PEO NEOs” reflects the following adjustments from Total Compensation reported in the Summary Compensation Table:

    

PEO

    

OTHER NEO AVERAGE

ADJUSTMENTS(*)

2023

2022

2021

2023

2022

2021

Summary Compensation Table Total

    

  

    

$

342,169

    

$

3,586

    

$

3,706

    

$

465,977

    

$

336,661

    

$

280,593

Deduction for amount reported in “Stock Awards” column of the Summary Compensation Table

 

(−)

$

$

$

$

17,662

$

$

Deduction for amounts reported in “Option Awards” column of the Summary Compensation Table

 

(−)

$

336,330

$

$

$

126,124

$

$

28,642

Addition of fair value at fiscal year (FY) end, of equity awards granted during the FY that remained outstanding

 

(+)

$

375,080

$

$

$

140,655

$

10,091

$

24,283

Addition of fair value at vesting date, of equity awards granted during the FY that vested during the FY

 

(+)

$

$

$

$

$

$

Addition of change in fair value at FY end versus prior FY end for awards granted in prior FY that remained outstanding

 

(+)

$

(10,468)

$

(72,696)

$

(50,416)

$

(2,785)

$

(2,090)

$

(12,656)

Addition of change in fair value at vesting date versus prior FY end for awards granted in prior FY that vested during the FY

 

(+)

$

$

$

$

$

$

Deduction of the fair value at the prior FY end for awards granted in prior FY that failed to meet their vesting conditions

 

(−)

$

$

$

$

$

50,249

$

28,161

Addition in respect of any dividends accrued or other earnings paid during applicable FY prior to vesting date of underlying award

 

(+)

$

$

$

$

$

$

Addition of incremental fair value of any options or SARS modified during the FY

 

(+)

$

$

$

$

$

$

Deduction changes in pension and deferred compensation plans

 

(−)

$

$

$

$

$

$

Addition for the Service Cost attributable to services rendered during the FY

 

(+)

$

$

$

$

$

$

Addition for the prior Service Cost in respect of a plan amendment or initiation during the FY

 

(+)

$

$

$

$

$

$

Compensation Actually Paid

 

  

$

370,451

$

(69,110)

$

(46,710)

$

460,061

$

294,413

$

235,417

(*)

Equity valuations have been calculated in accordance with the requirements for Compensation Actually Paid. Adjustment for Option Awards represents the sum of changes in fair value during the fiscal year. The fair market value of stock options is determined with the Black-Scholes model. The Black- Scholes model is further described in Note 13 to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.

   
Non-PEO NEO Average Total Compensation Amount $ 465,977 336,661 280,593
Non-PEO NEO Average Compensation Actually Paid Amount $ 460,061 294,413 235,417
Adjustment to Non-PEO NEO Compensation Footnote
(6)“Compensation Actually Paid to PEO” and “Average Compensation Actually Paid to non-PEO NEOs” reflects the following adjustments from Total Compensation reported in the Summary Compensation Table:

    

PEO

    

OTHER NEO AVERAGE

ADJUSTMENTS(*)

2023

2022

2021

2023

2022

2021

Summary Compensation Table Total

    

  

    

$

342,169

    

$

3,586

    

$

3,706

    

$

465,977

    

$

336,661

    

$

280,593

Deduction for amount reported in “Stock Awards” column of the Summary Compensation Table

 

(−)

$

$

$

$

17,662

$

$

Deduction for amounts reported in “Option Awards” column of the Summary Compensation Table

 

(−)

$

336,330

$

$

$

126,124

$

$

28,642

Addition of fair value at fiscal year (FY) end, of equity awards granted during the FY that remained outstanding

 

(+)

$

375,080

$

$

$

140,655

$

10,091

$

24,283

Addition of fair value at vesting date, of equity awards granted during the FY that vested during the FY

 

(+)

$

$

$

$

$

$

Addition of change in fair value at FY end versus prior FY end for awards granted in prior FY that remained outstanding

 

(+)

$

(10,468)

$

(72,696)

$

(50,416)

$

(2,785)

$

(2,090)

$

(12,656)

Addition of change in fair value at vesting date versus prior FY end for awards granted in prior FY that vested during the FY

 

(+)

$

$

$

$

$

$

Deduction of the fair value at the prior FY end for awards granted in prior FY that failed to meet their vesting conditions

 

(−)

$

$

$

$

$

50,249

$

28,161

Addition in respect of any dividends accrued or other earnings paid during applicable FY prior to vesting date of underlying award

 

(+)

$

$

$

$

$

$

Addition of incremental fair value of any options or SARS modified during the FY

 

(+)

$

$

$

$

$

$

Deduction changes in pension and deferred compensation plans

 

(−)

$

$

$

$

$

$

Addition for the Service Cost attributable to services rendered during the FY

 

(+)

$

$

$

$

$

$

Addition for the prior Service Cost in respect of a plan amendment or initiation during the FY

 

(+)

$

$

$

$

$

$

Compensation Actually Paid

 

  

$

370,451

$

(69,110)

$

(46,710)

$

460,061

$

294,413

$

235,417

(*)

Equity valuations have been calculated in accordance with the requirements for Compensation Actually Paid. Adjustment for Option Awards represents the sum of changes in fair value during the fiscal year. The fair market value of stock options is determined with the Black-Scholes model. The Black- Scholes model is further described in Note 13 to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.

   
Compensation Actually Paid vs. Total Shareholder Return

Graphic

   
Compensation Actually Paid vs. Net Income

Graphic

   
Compensation Actually Paid vs. Company Selected Measure

Graphic

   
Tabular List, Table

Financial Performance Measures

The Company’s performance metric targets include the following:

All-in Sustaining Costs (AISC)
Reserve/Resource Replacement Ratio
Production Actuals vs Guidance
   
Total Shareholder Return Amount $ 73.20 46.14 69.80
Peer Group Total Shareholder Return Amount 116.03 109.14 123.37
Net Income (Loss) $ 55,300,000 $ (81,080,000.00) $ (56,710,000)
Company Selected Measure Amount | $ / oz 1,615.30 1,687.88 1,634.69
PEO Name Mr. McEwen    
Measure:: 1      
Pay vs Performance Disclosure      
Name All-in Sustaining Costs (AISC)    
Non-GAAP Measure Description
(5)All-in sustaining costs (AISC) per ounce is a US Non-GAAP measure consisting of cash costs, plus accretion of retirement obligations and amortization of the asset retirement costs related to operating sites, environmental rehabilitation costs for mines with no reserves, sustaining exploration and development costs, sustaining capital expenditures and sustaining lease payments. Our all-in sustaining costs exclude the allocation of corporate general and administrative costs. The sum of all-in sustaining costs is divided by the corresponding gold equivalent ounces sold to determine a per ounce amount.
   
Measure:: 2      
Pay vs Performance Disclosure      
Name Reserve/Resource Replacement Ratio    
Measure:: 3      
Pay vs Performance Disclosure      
Name Production Actuals vs Guidance    
PEO | Deduction for amounts reported in "Option Awards" column of the Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ (336,330)    
PEO | Addition of fair value at fiscal year (FY) end, of equity awards granted during the FY that remained outstanding      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 375,080    
PEO | Addition of change in fair value at FY end versus prior FY end for awards granted in prior FY that remained outstanding      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (10,468) $ (72,696) $ (50,416)
Non-PEO NEO | Deduction for amount reported in "Stock Awards" column of the Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (17,662)    
Non-PEO NEO | Deduction for amounts reported in "Option Awards" column of the Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (126,124)   (28,642)
Non-PEO NEO | Addition of fair value at fiscal year (FY) end, of equity awards granted during the FY that remained outstanding      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 140,655 10,091 24,283
Non-PEO NEO | Addition of change in fair value at FY end versus prior FY end for awards granted in prior FY that remained outstanding      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ (2,785) (2,090) (12,656)
Non-PEO NEO | Deduction of the fair value at the prior FY end for awards granted in prior FY that failed to meet their vesting conditions      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount   $ (50,249) $ (28,161)