Form 4: SSR Mining Executive Acquires and Disposes of Shares and Performance Units

Russell Farnsworth, Chief Accounting Officer of SSR Mining Inc., reports acquisition and disposal of common shares and performance share units on April 1, 2024.

Summary

• On April 1, 2024, Russell Farnsworth, the Chief Accounting Officer of SSR Mining Inc., engaged in transactions involving the company's securities.
• Farnsworth acquired 26,396 common shares at a price of $0.
• These shares were obtained through restricted share units that vest in six equal installments over the next three years, contingent upon continued service.
• Each restricted share unit converts into one common share upon vesting.
• Farnsworth also acquired 26,396 performance share units, which represent a contingent right to receive a cash payment in the first quarter of 2027.
• The cash payment will be determined based on the achievement of specified performance criteria and continued service through the vesting date.
• Following these transactions, Farnsworth directly owns 41,765 common shares and 26,396 performance share units.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the document primarily reports routine insider transactions related to executive compensation. There are no explicit positive or negative implications for the company's performance.

Positives

• The acquisition of restricted share units and performance share units aligns Farnsworth's interests with the long-term performance of SSR Mining.
• The vesting schedule of the restricted share units encourages continued service and commitment from the Chief Accounting Officer.

Future Outlook

The performance share units will vest based on the achievement of specified performance criteria over the applicable performance period and subject to continued service through the vesting date, with a cash payment expected in the first quarter of 2027.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the holdings and transactions of company executives.

Comparison to Industry Standards

• Equity compensation in the form of restricted share units and performance share units is a common practice among publicly traded mining companies to align management's interests with shareholder value.
• Vesting schedules and performance criteria are typically designed to incentivize long-term value creation and retention of key personnel.
• Companies like Newmont Corporation and Barrick Gold also utilize similar equity compensation plans for their executives.

Stakeholder Impact

• Shareholders may view the insider transactions as a sign of management's confidence in the company's future prospects.
• Employees may be motivated by the equity compensation plans, which align their interests with the company's success.

Key Dates