CEO Robert McEwen was paid $776,549 in fiscal year 2025, ↑ up 15725.3% from fiscal year 2024 (SEC filing 0001104659-26-048627 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.
$934,806 William Shaver total, FY2025 Chief Operating Officer — highest-paid officer; CEO Robert McEwen: $776,549 | — CEO (Robert McEwen) pay percentile vs peers | 16:1 CEO-to-median pay ratio | 97.33% Say-on-pay support, latest vote |
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MUX's next annual pay disclosure, estimated April 18, 2027.est. Filing ↗
| 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.
| 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.
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This is the complete answer, not a partial one — the list is never padded.
One page per director: the seat, the committees and the fee table, read for one person at a time.
| Director | Role | FY2025 total |
|---|---|---|
| Alfred Colas | Independent Director | $65,351 |
| Allan Ambrose | Former director (through FY2025) | $21,125 |
| Dalia Asterbadi | Independent Director | $65,351 |
| Ian Ball | Director | $138,202 |
| John Florek | Independent Director | $65,351 |
| Merri Sanchez | Former director (through FY2025) | $18,778 |
| Michael Melanson | Independent Director | $65,351 |
| Michelle Makori | Independent Director | $130,702 |
| Nicolas Darveau-Garneau | Independent Director | $130,702 |
| Richard Brissenden | Independent Director | $140,702 |
| Robin Dunbar | Former director (through FY2025) | $20,000 |
| Steve Kaszas | Independent Director | $65,351 |
No insider equity transactions reported since the proxy statement.
| 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 |
| 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.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Robert McEwen | Option | 170,000 | 10.34 | — |
| Perry Ing | RSU | 1,867 | — | 34,558 |
| William Shaver | RSU | 11,740 | — | 217,307 |
| Carmen Diges | RSU | 3,370 | — | 62,379 |
| William Shaver | RSU | 11,400 | — | 211,014 |
| Carmen Diges | RSU | 5,333 | — | 98,714 |
| Perry Ing | RSU | 4,740 | — | 87,737 |
| Perry Ing | RSU | 4,660 | — | 86,257 |
| Jeffrey Chan | Option | 13,334 | 7.1 | — |
| Carmen Diges | RSU | 2,940 | — | 54,419 |
| William Shaver | RSU | 2,100 | — | 38,871 |
| Carmen Diges | RSU | 1,300 | — | 24,063 |
| Jeffrey Chan | RSU | 1,267 | — | 23,446 |
| William Shaver | RSU | 867 | — | 16,048 |
| Perry Ing | RSU | 800 | — | 14,808 |
| Jeffrey Chan | RSU | 533 | — | 9,872 |
| Robert McEwen | Option | 33,333 | 7.1 | — |
| Perry Ing | Option | 16,667 | 7.1 | — |
| Carmen Diges | Option | 40,000 | 10.34 | — |
| Perry Ing | Option | 50,000 | 10.34 | — |
| William Shaver | Option | 23,333 | 7.1 | — |
| William Shaver | Option | 80,000 | 10.34 | — |
| Jeffrey Chan | Option | 40,000 | 10.34 | — |
| Carmen Diges | Option | 6,667 | 7.1 | — |
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 | — |
| 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.
| 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.
| Ratio (CEO : median employee) | 16 : 1 |
|---|---|
| CEO total compensation | — |
| Median employee compensation | $78,000 |
| 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 |
| Annual cash retainer | $40,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | — |
| Stock ownership guideline | — |
| 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.
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 | 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.
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, William Shaver | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “Executive Compensation”. As printed: 934,806. Filing ↗machine: r7 · c41 · span 302823–302830 |
| 2 | Section 01, Robert McEwen | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “Executive Compensation”. As printed: 776,549. Filing ↗machine: r1 · c41 · span 278182–278189 |
| 3 | Section 01, Perry Ing | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “Executive Compensation”. As printed: 714,745. Filing ↗machine: r4 · c41 · span 290503–290510 |
| 4 | Section 01, Carmen Diges | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “Executive Compensation”. As printed: 536,096. Filing ↗machine: r13 · c41 · span 327561–327568 |
| 5 | Section 01, Jeffrey Chan | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “Executive Compensation”. As printed: 465,386. Filing ↗machine: r10 · c41 · span 315185–315192 |
| 6 | Section 03, Jeffrey Chan RSU | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. Filing ↗machine: span 449924–449930 |
| 7 | Section 03, Jeffrey Chan RSU | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. Filing ↗machine: span 431720–431725 |
| 8 | Section 03, Carmen Diges RSU | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. Filing ↗machine: span 468030–468036 |
| 9 | Section 03, Carmen Diges RSU | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. Filing ↗machine: span 455980–455986 |
| 10 | Section 03, Perry Ing RSU | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. Filing ↗machine: span 389110–389116 |
| 11 | Section 03, Perry Ing RSU | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. Filing ↗machine: span 395237–395244 |
| 12 | Section 03, Jeffrey Chan RSU | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. Filing ↗machine: span 443769–443775 |
| 13 | Section 03, Perry Ing RSU | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. Filing ↗machine: span 382958–382964 |
| 14 | Section 03, Robert McEwen OPTION | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. Filing ↗machine: span 364868–364875 |
| 15 | Section 03, William Shaver RSU | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. Filing ↗machine: span 425666–425673 |
| 16 | Section 03, William Shaver RSU | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. Filing ↗machine: span 413376–413382 |
| 17 | Section 03, William Shaver RSU | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. Filing ↗machine: span 419508–419514 |
| 18 | Section 03, William Shaver OPTION | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. Filing ↗machine: span 407291–407298 |
| 19 | Section 03, William Shaver RSU | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. Filing ↗machine: span 401321–401328 |
| 20 | Section 03, Carmen Diges RSU | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. Filing ↗machine: span 474185–474191 |
| 21 | Section 03, Perry Ing RSU | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. Filing ↗machine: span 370920–370927 |
| 22 | Section 03, Carmen Diges RSU | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. Filing ↗machine: span 480315–480321 |
| 23 | Section 03, Perry Ing OPTION | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. Filing ↗machine: span 376903–376910 |
| 24 | Section 03, Carmen Diges OPTION | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. Filing ↗machine: span 461972–461979 |
| 25 | Section 03, Jeffrey Chan OPTION | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “GRANTS OF PLAN BASED AWARDS” · grants of plan-based awards table. Filing ↗machine: span 437711–437718 |
| 26 | Section 07, pay ratio | DEF 14A | 2025-04-30 | 0001104659-25-042532 | Section “CEO Pay Ratio”. As printed: 16 : 1. Filing ↗ |
| 27 | Section 08, Richard Brissenden | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “Director Compensation”. As printed: 140,702. Filing ↗machine: span 863213–863220 |
| 28 | Section 08, Ian Ball | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “Director Compensation”. As printed: 138,202. Filing ↗machine: span 859605–859612 |
| 29 | Section 08, William Shaver | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “Director Compensation”. As printed: 135,702. Filing ↗machine: span 896095–896102 |
| 30 | Section 08, Nicolas Darveau-Garneau | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “Director Compensation”. As printed: 130,702. Filing ↗machine: span 870497–870504 |
| 31 | Section 08, Michelle Makori | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “Director Compensation”. As printed: 130,702. Filing ↗machine: span 885142–885149 |
| 32 | Section 08, Robert R. McEwen | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “Director Compensation”. As printed: 90,702. Filing ↗machine: span 847045–847051 |
| 33 | Section 08, Alfred Colas | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “Director Compensation”. As printed: 65,351. Filing ↗machine: span 866886–866892 |
| 34 | Section 08, Dalia Asterbadi | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “Director Compensation”. As printed: 65,351. Filing ↗machine: span 855937–855943 |
| 35 | Section 08, Steve Kaszas | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “Director Compensation”. As printed: 65,351. Filing ↗machine: span 881539–881545 |
| 36 | Section 08, John Florek | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “Director Compensation”. As printed: 65,351. Filing ↗machine: span 877867–877873 |
| 37 | Section 08, Michael Melanson | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “Director Compensation”. As printed: 65,351. Filing ↗machine: span 888819–888825 |
| 38 | Section 08, Allan Ambrose | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “Director Compensation”. As printed: 21,125. Filing ↗machine: span 849730–849736 |
| 39 | Section 08, Robin Dunbar | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “Director Compensation”. As printed: 20,000. Filing ↗machine: span 871664–871670 |
| 40 | Section 08, Merri Sanchez | DEF 14A | 2026-04-24 | 0001104659-26-048627 | Section “Director Compensation”. As printed: 18,778. Filing ↗machine: span 890011–890017 |
| 41 | Section 06, 2025 vote | Form 8-K | 2025-06-25 | 0001104659-25-062578 | Item 5.07 · say-on-pay result. As reported: 97.33% (votes for as printed: 18,735,730). Filing ↗ |
| 42 | Section 06, 2022 vote | Form 8-K | 2022-07-12 | 0001104659-22-079225 | Item 5.07 · say-on-pay result. As reported: 92.11% (votes for as printed: 165,788,946). Filing ↗ |
| 43 | Section 06, 2019 vote | Form 8-K | 2019-05-29 | 0001104659-19-032418 | Item 5.07 · say-on-pay result. As reported: 97.41% (votes for as printed: 150,602,612). Filing ↗ |
| 44 | Section 01 trend, Δ column (computed) | Computed | — | — | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 45 | 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).machine: formula: sums + PSU ratio |
| 46 | Section 09b board cost (computed) | Computed | — | — | Cash 269,903 + equity 112,500 + all other 0 = 382,403, summed across the director compensation table rows.machine: formula: Σ = 382,403 |
| 47 | McEwen (subject), Section 10b CEO total | DEF 14A | 2026-04-24 | 0001104659-26-048627 | CEO total compensation as printed in McEwen's own proxy. As printed: 776,549. Filing ↗machine: r1 · c41 · span 278182–278189 |