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IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON MAY 26, 2021
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The Company’s proxy statement for the Annual Meeting and its annual report to stockholders for the fiscal year ended December 31, 2020 are available at www.proxydocs.com/GATO.
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Proposal 1
Election of nine members of our Board
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| | Each director must be elected by a plurality of the votes of the shares of capital stock of the Company present in person or represented by proxy at the Annual Meeting and entitled to vote on the election of directors. This means the nine nominees who receive the greatest number of FOR votes will be elected. Stockholders may not cumulate votes in the election of directors. | |
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Proposal 2
Ratification of the appointment of KPMG as our independent registered public accounting firm for the year ending December 31, 2021
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| | This proposal must be approved by a majority of the votes cast by stockholders. This means the number of votes cast FOR the proposal must exceed the number of votes cast AGAINST the proposal. | |
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Audit Committee
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Compensation and
Nominating Committee |
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Executive and
Corporate Communications Committee |
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Technical,
Environmental, Health and Safety Committee |
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Finance Committee
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David Peat*
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Karl Hanneman*
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Janice Stairs*
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Igor Gonzales*
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David Peat*
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Janice Stairs
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Ali Erfan
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Igor Levental
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Stephen Orr
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Igor Levental
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Charles Hansard
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Igor Gonzales
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Stephen Orr
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Karl Hanneman
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Ali Erfan
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Name and Principal Position
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Year
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Salary
($) |
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Option
Awards ($)(1) |
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Non-Equity
Incentive Plan Compensation ($)(2) |
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All Other
Compensation ($)(3) |
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Total
($) |
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Stephen Orr
Chief Executive Officer |
| | | | 2020 | | | | | | 619,000 | | | | | | 2,012,000 | | | | | | 710,000 | | | | | | — | | | | | | 3,341,000 | | |
| | | 2019 | | | | | | 521,000 | | | | | | 931,000 | | | | | | 425,000 | | | | | | — | | | | | | 1,877,000 | | | ||
Philip Pyle
Vice President of Exploration and Chief Geologist |
| | | | 2020 | | | | | | 370,000 | | | | | | 1,212,000 | | | | | | 289,000 | | | | | | 19,500 | | | | | | 1,890,500 | | |
| | | 2019 | | | | | | 350,000 | | | | | | 580,000 | | | | | | 197,000 | | | | | | 19,000 | | | | | | 1,146,000 | | | ||
John Kinyon
Chief Operating Officer |
| | | | 2020 | | | | | | 370,000 | | | | | | 1,212,000 | | | | | | 295,000 | | | | | | 14,600 | | | | | | 1,891,600 | | |
| | | 2019 | | | | | | 350,000 | | | | | | 580,000 | | | | | | 175,000 | | | | | | 15,500 | | | | | | 1,120,500 | | |
NEO
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Option Shares(1)
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Stephen Orr
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| | | | 126,000 | | |
Philip Pyle
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| | | | 78,500 | | |
John Kinyon
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| | | | 78,500 | | |
NEO
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Option Shares(1)
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Stephen Orr
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| | | | 126,000 | | |
Philip Pyle
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| | | | 78,500 | | |
John Kinyon
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| | | | 78,500 | | |
NEO
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Option Shares
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Stephen Orr
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| | | | 290,000 | | |
Philip Pyle
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| | | | 170,000 | | |
John Kinyon
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| | | | 170,000 | | |
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Option Awards
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Name and Principal Position
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Number of
Securities Underlying Unexercised Options (#) Exercisable |
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Number of
Securities Underlying Unexercised Options (#) Unexercisable |
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Option
Exercise Price ($) |
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Option
Expiration Date |
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Stephen Orr
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| | | | 300,000 | | | | | | — | | | | | | 27.66 | | | |
10/30/2022
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| | | | | 300,000 | | | | | | — | | | | | | 27.66 | | | |
2/16/2023
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| | | | | 145,000 | | | | | | — | | | | | | 7.00 | | | |
2/8/2025
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| | | | | 114,437 | | | | | | — | | | | | | 7.00 | | | |
12/23/2025
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| | | | | 125,000 | | | | | | — | | | | | | 9.00 | | | |
12/15/2026
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| | | | | 94,500 | | | | | | 31,500(1) | | | | | | 9.00 | | | |
12/5/2027
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| | | | | 63,000 | | | | | | 63,000(2) | | | | | | 12.00 | | | |
12/13/2028
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| | | | | — | | | | | | 126,000(3) | | | | | | 12.00 | | | |
1/20/2030
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| | | | | — | | | | | | 290,000(4) | | | | | | 7.00 | | | |
10/27/2030
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Philip Pyle
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| | | | 51,000 | | | | | | — | | | | | | 27.66 | | | |
10/30/2022
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| | | | | 51,000 | | | | | | — | | | | | | 27.66 | | | |
2/16/2023
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| | | | | 55,000 | | | | | | — | | | | | | 7.00 | | | |
2/8/2025
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| | | | | 58,334 | | | | | | — | | | | | | 7.00 | | | |
12/23/2025
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| | | | | 77,500 | | | | | | — | | | | | | 9.00 | | | |
12/15/2026
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| | | | | 58,875 | | | | | | 19,625(1) | | | | | | 9.00 | | | |
12/5/2027
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| | | | | 39,250 | | | | | | 39,250(2) | | | | | | 12.00 | | | |
12/13/2028
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| | | | | — | | | | | | 78,500(3) | | | | | | 12.00 | | | |
1/20/2030
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| | | | | — | | | | | | 170,000(4) | | | | | | 7.00 | | | |
10/27/2030
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Option Awards
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Name and Principal Position
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Number of
Securities Underlying Unexercised Options (#) Exercisable |
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Number of
Securities Underlying Unexercised Options (#) Unexercisable |
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Option
Exercise Price ($) |
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Option
Expiration Date |
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John Kinyon
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| | | | 22,500 | | | | | | — | | | | | | 27.66 | | | |
10/30/2022
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| | | | | 22,500 | | | | | | — | | | | | | 27.66 | | | |
2/16/2023
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| | | | | 40,000 | | | | | | — | | | | | | 7.00 | | | |
2/8/2025
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| | | | | 31,569 | | | | | | — | | | | | | 7.00 | | | |
12/23/2025
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| | | | | 17,500 | | | | | | — | | | | | | 7.00 | | | |
3/18/2026
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| | | | | 45,250 | | | | | | — | | | | | | 9.00 | | | |
12/15/2026
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| | | | | 58,875 | | | | | | 19,625(1) | | | | | | 9.00 | | | |
12/5/2027
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| | | | | 39,250 | | | | | | 39,250(2) | | | | | | 12.00 | | | |
12/13/2028
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| | | | | — | | | | | | 78,500(3) | | | | | | 12.00 | | | |
1/20/2030
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| | | | | — | | | | | | 170,000(4) | | | | | | 7.00 | | | |
10/27/2030
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Position
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Stock Ownership Guideline
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CEO | | | 3x base salary | |
Other Executive Officers | | | 1x base salary | |
Non-Employee Directors | | | 3x base annual director cash retainer. | |
Name
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Fees Earned or
Paid in Cash ($) |
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Stock Awards
($)(1) |
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Option Awards
($)(2) |
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Total
($) |
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Janice Stairs
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| | | | 19,833(3) | | | | | | — | | | | | | 160,528 | | | | | | 180,361 | | |
Ali Erfan
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| | | | 9,167 | | | | | | — | | | | | | 160,528 | | | | | | 169,695 | | |
Igor Gonzales
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| | | | 11,333 | | | | | | — | | | | | | 142,694 | | | | | | 154,027 | | |
Karl Hanneman
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| | | | 12,333 | | | | | | — | | | | | | 160,528 | | | | | | 172,861 | | |
Charles Hansard(4)
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| | | | 10,667 | | | | | | — | | | | | | — | | | | | | 10,667 | | |
Igor Levental
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| | | | 9,167(3) | | | | | | — | | | | | | 160,528 | | | | | | 169,695 | | |
David Peat
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| | | | 14,500 | | | | | | — | | | | | | 200,802 | | | | | | 215,302 | | |
Thomas S. Kaplan(5)
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| | | | — | | | | | | — | | | | | | 160,528 | | | | | | 160,528 | | |
Jeb Burns(6)
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| | | | — | | | | | | — | | | | | | 160,528 | | | | | | 160,528 | | |
Wayne Kirk(7)
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| | | | — | | | | | | — | | | | | | 200,802 | | | | | | 200,802 | | |
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2020
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2019
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Audit fees(1)
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| | | $ | 898,568 | | | | | $ | 450,000 | | |
Audit-related fees
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Tax fees(2)
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| | | | 85,000 | | | | | | 78,000 | | |
All other fees
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Total
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| | | $ | 983,568 | | | | | $ | 528,000 | | |
Name
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Shares of
Common Stock Beneficially Owned |
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Percentage of
Common Stock Beneficially Owned |
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Greater than 5% Stockholders | | | | | | | | | | | | | |
Electrum(1): | | | | | | | | | | | | | |
Electrum Silver US LLC
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| | | | 19,993,086 | | | | | | 33.7% | | |
Electrum Silver US II LLC
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| | | | 4,591,627 | | | | | | 7.7% | | |
Total
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| | | | 24,584,713 | | | | | | 41.4% | | |
Municipal Employees’ Retirement System of Michigan(2)
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| | | | 6,234,822 | | | | | | 10.5% | | |
FMR LLC(3)
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| | | | 8,877,461 | | | | | | 14.9% | | |
Directors and Named Executive Officers | | | | | | | | | | | | | |
Janice Stairs(7)(9)
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| | | | 45,561 | | | | | | * | | |
Ali Erfan(4)(7)(9)
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| | | | 116,860 | | | | | | * | | |
Igor Gonzales(7)(9)
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| | | | 28,216 | | | | | | * | | |
Karl Hanneman(7)(9)
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| | | | 61,895 | | | | | | * | | |
Charles Hansard
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| | | | — | | | | | | * | | |
Igor Levental(5)(7)(9)
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| | | | 133,446 | | | | | | * | | |
Stephen Orr(6)(7)
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| | | | 1,356,689 | | | | | | 2.3% | | |
David Peat(7)(9)
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| | | | 166,917 | | | | | | * | | |
Daniel Muñiz Quintanilla(8)
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| | | | — | | | | | | * | | |
Philip Pyle(7)
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| | | | 483,344 | | | | | | * | | |
John Kinyon(7)
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| | | | 317,485 | | | | | | * | | |
All directors and executive officers as a group (14 persons)
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| | | | 3,463,708 | | | | | | 5.8% | | |
Name
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Number of Shares
of Common Stock Purchased |
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Aggregate
Purchase Price |
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Electrum Silver US LLC
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| | | | 4,166,667 | | | | | $ | 25,000,000 | | |
Municipal Employees’ Retirement System of Michigan
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| | | | 2,500,000 | | | | | $ | 15,000,000 | | |
Stephen Orr(1)
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| | | | 45,000 | | | | | $ | 270,000 | | |