Companies McEwen Inc.
McEwen (MUX): executive pay, fiscal 2025
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CEO pay, last three years
- $342,169FY2023
- $4,907FY2024
- $776,549FY2025
CEO total pay was $776,549 in fiscal 2025, up from $4,907 in fiscal 2024.
FY2025: salary $1 · bonus $0 · stock awards $0 · option awards $770,963
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Executives and directors
Perry Ing · CFOJeffrey Chan · Vice President – FinanceCarmen Diges · General CounselRobert McEwen · CEOWilliam Shaver · COOAlfred Colas · Independent DirectorAllan Ambrose · Former director (through FY2025)Dalia Asterbadi · Independent DirectorIan Ball · DirectorJohn Florek · Independent DirectorMerri Sanchez · Former director (through FY2025)Michael Melanson · Independent DirectorMichelle Makori · Independent DirectorNicolas Darveau-Garneau · Independent DirectorRichard Brissenden · Independent DirectorRobin Dunbar · Former director (through FY2025)Steve Kaszas · Independent Director
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| William Shaver | $470,455 | $101,511 | $0 | $362,806 | $0 | $0 | $34 | $934,806 |
| Chief Operating Officer | ||||||||
| Robert McEwen | 1 | 0 | 0 | 770,963 | 0 | 0 | 5,585 | 776,549 |
| Chairman and Chief Executive Officer | ||||||||
| Perry Ing | 394,521 | 91,456 | 0 | 226,754 | 0 | 0 | 2,014 | 714,745 |
| Chief Financial Officer | ||||||||
| Carmen Diges | 121,533 | 62,709 | 0 | 181,403 | 0 | 0 | 170,451 | 536,096 |
| General Counsel and Corporate Secretary | ||||||||
| Jeffrey Chan | 194,421 | 78,931 | 0 | 181,403 | 0 | 0 | 10,631 | 465,386 |
| Vice President – Finance | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
Three-year trend — total compensation per named executive
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| William Shaver | $934,806 | $444,367 | $539,231 | ↑ +490,439 |
| Robert McEwen | 776,549 | 4,907 | 342,169 | ↑ +771,642 |
| Perry Ing | 714,745 | 347,730 | 443,722 | ↑ +367,015 |
| Carmen Diges | 536,096 | — | 441,709 | — |
| Jeffrey Chan | 465,386 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
The program is intended to be fully competitive to attract, motivate and retain talented executives and key employees, create an alignment of interests between executives and shareholders through equity awards, and reflect the company's corporate culture of managing operating expenses and rewarding performance.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | — |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2025
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Jeffrey Chan | RSU | 2025-09-08 | — | — | 1,600 | — | $22,032 |
| Jeffrey Chan | RSU | 2025-06-29 | — | — | 778 | — | 7,274 |
| Carmen Diges | RSU | 2025-08-11 | — | — | 3,900 | — | 40,677 |
| Carmen Diges | RSU | 2025-06-29 | — | — | 10,110 | — | 94,529 |
| Perry Ing | RSU | 2025-09-08 | — | — | 2,400 | — | 33,048 |
| Perry Ing | RSU | 2025-11-10 | — | — | 6,990 | — | 119,459 |
| Jeffrey Chan | RSU | 2025-08-11 | — | — | 3,800 | — | 39,634 |
| Perry Ing | RSU | 2025-08-11 | — | — | 5,600 | — | 58,408 |
| Robert McEwen | OPTION | 2025-08-11 | — | — | 170,000 | — | 770,963 |
| William Shaver | RSU | 2025-11-10 | — | — | 17,100 | — | 292,239 |
| William Shaver | RSU | 2025-08-11 | — | — | 6,300 | — | 65,709 |
| William Shaver | RSU | 2025-09-08 | — | — | 2,600 | — | 35,802 |
| William Shaver | OPTION | 2025-08-11 | — | — | 80,000 | — | 453,508 |
| William Shaver | RSU | 2025-06-29 | — | — | 35,220 | — | 329,307 |
| Carmen Diges | RSU | 2025-09-08 | — | — | 1,600 | — | 22,032 |
| Perry Ing | RSU | 2025-06-29 | — | — | 14,220 | — | 132,957 |
| Carmen Diges | RSU | 2025-11-10 | — | — | 4,410 | — | 75,367 |
| Perry Ing | OPTION | 2025-08-11 | — | — | 50,000 | — | 226,754 |
| Carmen Diges | OPTION | 2025-08-11 | — | — | 40,000 | — | 181,403 |
| Jeffrey Chan | OPTION | 2025-08-11 | — | — | 40,000 | — | 181,403 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Jeffrey Chan | $68,940 | $0 | $181,403 | 0.0% |
| Carmen Diges | 232,605 | 0 | 181,403 | 0.0% |
| Perry Ing | 343,872 | 0 | 226,754 | 0.0% |
| Robert McEwen | 0 | 0 | 770,963 | 0.0% |
| William Shaver | 723,057 | 0 | 453,508 | 0.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Jeffrey Chan | RSU | 533 | — | $9,872 |
| Perry Ing | RSU | 800 | — | 14,808 |
| William Shaver | RSU | 867 | — | 16,048 |
| Jeffrey Chan | RSU | 1,267 | — | 23,446 |
| Carmen Diges | RSU | 1,300 | — | 24,063 |
| Perry Ing | RSU | 1,867 | — | 34,558 |
| William Shaver | RSU | 2,100 | — | 38,871 |
| Carmen Diges | RSU | 2,940 | — | 54,419 |
| Carmen Diges | RSU | 3,370 | — | 62,379 |
| Perry Ing | RSU | 4,660 | — | 86,257 |
| Perry Ing | RSU | 4,740 | — | 87,737 |
| Carmen Diges | RSU | 5,333 | — | 98,714 |
| Carmen Diges | Option | 6,667 | 7.1 | — |
| William Shaver | RSU | 11,400 | — | 211,014 |
| William Shaver | RSU | 11,740 | — | 217,307 |
| Jeffrey Chan | Option | 13,334 | 7.1 | — |
| Perry Ing | Option | 16,667 | 7.1 | — |
| William Shaver | Option | 23,333 | 7.1 | — |
| Robert McEwen | Option | 33,333 | 7.1 | — |
| Jeffrey Chan | Option | 40,000 | 10.34 | — |
| Carmen Diges | Option | 40,000 | 10.34 | — |
| Perry Ing | Option | 50,000 | 10.34 | — |
| William Shaver | Option | 80,000 | 10.34 | — |
| Robert McEwen | Option | 170,000 | 10.34 | — |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Richard BrissendenIndependent · Compensation, Nominating & Corporate Governance · Audit (Chair) | $50,000 | $0 | $90,702 | — | $0 | $140,702 |
| Ian BallEmployee director · Disclosure (Chair) | 47,500 | 0 | 90,702 | — | 0 | 138,202 |
| William ShaverEmployee director · Environmental, Health & Safety (Chair) | 22,500 | 22,500 | 90,702 | — | 0 | 135,702 |
| Nicolas Darveau-GarneauIndependent · Compensation, Nominating & Corporate Governance · Audit | 20,000 | 20,000 | 90,702 | — | 0 | 130,702 |
| Michelle MakoriIndependent · Disclosure | 30,000 | 10,000 | 90,702 | — | 0 | 130,702 |
| Robert R. McEwenEmployee director · Board Chair | 0 | 0 | 90,702 | — | 0 | 90,702 |
| Alfred ColasIndependent · Audit · Newly elected | 20,000 | 0 | 45,351 | — | 0 | 65,351 |
| Dalia AsterbadiIndependent · Environmental, Health & Safety · Newly elected | 0 | 20,000 | 45,351 | — | 0 | 65,351 |
| Steve KaszasIndependent · Environmental, Health & Safety · Newly elected | 0 | 20,000 | 45,351 | — | 0 | 65,351 |
| John FlorekIndependent · Compensation, Nominating & Corporate Governance (Chair) · Environmental, Health & Safety · Newly elected | 0 | 20,000 | 45,351 | — | 0 | 65,351 |
| Michael MelansonIndependent · Disclosure · Newly elected | 20,000 | 0 | 45,351 | — | 0 | 65,351 |
| Allan AmbroseIndependent · Departed during FY | 21,125 | 0 | 0 | — | 0 | 21,125 |
| Robin DunbarIndependent · Departed during FY | 20,000 | 0 | 0 | — | 0 | 20,000 |
| Merri SanchezIndependent · Departed during FY | 18,778 | 0 | 0 | — | 0 | 18,778 |
Board fee structure and ownership guideline
| Annual cash retainer | $40,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | — |
| Stock ownership guideline | — |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $269,903 |
| Equity awards (grant-date value) | $112,500 |
| All other compensation | $0 |
| Total cost of the board | $382,403 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names McEwen as a peer
Companies that benchmark against MUX
No companies currently name MUX as a compensation peer in their most recent disclosure.
This is the complete answer, not a partial one — the list is never padded.
Chief executive pay against the peer group
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | McEwen Inc. | 2025 | Robert McEwen | $1 | $0 | $770,963 | $0 | $776,549 |
Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Say-on-pay history and pay ratio
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2025 | 2025-06-19 | 18,735,730 | 514,236 | 349,959 | 97.33% | Passed |
| 2022 | 2022-07-07 | 165,788,946 | 14,208,713 | 2,817,397 | 92.11% | Passed |
| 2019 | 2019-05-23 | 150,602,612 | 3,998,668 | 5,051,089 | 97.41% | Passed |
| 2016 | 2016-05-31 | 133,080,305 | 1,813,027 | 1,377,089 | 98.66% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year’s compensation.
Say-on-pay — history, company’s computation
| Meeting year | Meeting date | Approval — company’s computation |
|---|---|---|
| 2025 | 2025-06-19 | 97.33%a |
| 2022 | 2022-07-07 | 92.11%b |
| 2019 | 2019-05-23 | 97.41%c |
a. Voting standard not stated in the filing.
b. Voting standard not stated in the filing.
c. Voting standard not stated in the filing.
Approval percentages are the company’s own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
CEO pay ratio
| Ratio (CEO : median employee) | 16 : 1 |
|---|---|
| CEO total compensation | — |
| Median employee compensation | $78,000 |
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (47 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, William Shaver. DEF 14A, filed 2026-04-24. Section “Executive Compensation”. As printed: 934,806. View filing ↗
- Section 01, Robert McEwen. DEF 14A, filed 2026-04-24. Section “Executive Compensation”. As printed: 776,549. View filing ↗
- Section 01, Perry Ing. DEF 14A, filed 2026-04-24. Section “Executive Compensation”. As printed: 714,745. View filing ↗
- Section 01, Carmen Diges. DEF 14A, filed 2026-04-24. Section “Executive Compensation”. As printed: 536,096. View filing ↗
- Section 01, Jeffrey Chan. DEF 14A, filed 2026-04-24. Section “Executive Compensation”. As printed: 465,386. View filing ↗
- Section 03, Jeffrey Chan RSU. DEF 14A, filed 2026-04-24. Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. View filing ↗
- Section 03, Jeffrey Chan RSU. DEF 14A, filed 2026-04-24. Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. View filing ↗
- Section 03, Carmen Diges RSU. DEF 14A, filed 2026-04-24. Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. View filing ↗
- Section 03, Carmen Diges RSU. DEF 14A, filed 2026-04-24. Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. View filing ↗
- Section 03, Perry Ing RSU. DEF 14A, filed 2026-04-24. Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. View filing ↗
- Section 03, Perry Ing RSU. DEF 14A, filed 2026-04-24. Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. View filing ↗
- Section 03, Jeffrey Chan RSU. DEF 14A, filed 2026-04-24. Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. View filing ↗
- Section 03, Perry Ing RSU. DEF 14A, filed 2026-04-24. Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. View filing ↗
- Section 03, Robert McEwen OPTION. DEF 14A, filed 2026-04-24. Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. View filing ↗
- Section 03, William Shaver RSU. DEF 14A, filed 2026-04-24. Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. View filing ↗
- Section 03, William Shaver RSU. DEF 14A, filed 2026-04-24. Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. View filing ↗
- Section 03, William Shaver RSU. DEF 14A, filed 2026-04-24. Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. View filing ↗
- Section 03, William Shaver OPTION. DEF 14A, filed 2026-04-24. Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. View filing ↗
- Section 03, William Shaver RSU. DEF 14A, filed 2026-04-24. Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. View filing ↗
- Section 03, Carmen Diges RSU. DEF 14A, filed 2026-04-24. Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. View filing ↗
- Section 03, Perry Ing RSU. DEF 14A, filed 2026-04-24. Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. View filing ↗
- Section 03, Carmen Diges RSU. DEF 14A, filed 2026-04-24. Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. View filing ↗
- Section 03, Perry Ing OPTION. DEF 14A, filed 2026-04-24. Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. View filing ↗
- Section 03, Carmen Diges OPTION. DEF 14A, filed 2026-04-24. Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. View filing ↗
- Section 03, Jeffrey Chan OPTION. DEF 14A, filed 2026-04-24. Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2025-04-30. Section “CEO Pay Ratio”. As printed: 16 : 1. View filing ↗
- Section 08, Richard Brissenden. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 140,702. View filing ↗
- Section 08, Ian Ball. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 138,202. View filing ↗
- Section 08, William Shaver. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 135,702. View filing ↗
- Section 08, Nicolas Darveau-Garneau. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 130,702. View filing ↗
- Section 08, Michelle Makori. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 130,702. View filing ↗
- Section 08, Robert R. McEwen. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 90,702. View filing ↗
- Section 08, Alfred Colas. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 65,351. View filing ↗
- Section 08, Dalia Asterbadi. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 65,351. View filing ↗
- Section 08, Steve Kaszas. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 65,351. View filing ↗
- Section 08, John Florek. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 65,351. View filing ↗
- Section 08, Michael Melanson. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 65,351. View filing ↗
- Section 08, Allan Ambrose. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 21,125. View filing ↗
- Section 08, Robin Dunbar. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 20,000. View filing ↗
- Section 08, Merri Sanchez. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 18,778. View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-06-25. Item 5.07 · say-on-pay result. As reported: 97.33% (votes for as printed: 18,735,730). View filing ↗
- Section 06, 2022 vote. Form 8-K, filed 2022-07-12. Item 5.07 · say-on-pay result. As reported: 92.11% (votes for as printed: 165,788,946). View filing ↗
- Section 06, 2019 vote. Form 8-K, filed 2019-05-29. Item 5.07 · say-on-pay result. As reported: 97.41% (votes for as printed: 150,602,612). View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
- Section 09b board cost (computed). Computed. Cash 269,903 + equity 112,500 + all other 0 = 382,403, summed across the director compensation table rows.
- McEwen Inc. (subject), Section 10b CEO total. DEF 14A, filed 2026-04-24. CEO total compensation as printed in McEwen Inc.'s own proxy. As printed: 776,549. View filing ↗