Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-29

U.S. Gold (USAU)

Fiscal year 2025 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.

$1,012,670
George Bee total, FY2025
CEO pay percentile vs peers
CEO-to-median pay ratio
Say-on-pay support, latest vote
Companies that benchmark against USAU
No companies currently name USAU as a compensation peer in their most recent disclosure.

This is the complete answer, not a partial one — the list is never padded.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
George Bee$323,333$60,000$348,221$281,116$0$1,012,670
President and Chief Executive Officer (PEO)
Eric Alexander251,66748,000267,614213,9710781,252
Chief Financial Officer and Corporate Secretary (Principal Financial and Accounting Officer)
Kevin Francis231,66733,000180,564143,7000588,931
Vice President-Exploration and Technical Services

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 officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
George Bee$1,012,670$300,000$349,650+712,670
Eric Alexander781,252240,000289,650+541,252
Kevin Francis588,931220,000269,650+368,931

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Eric AlexanderRSU10,753$117,958
George BeeRSU14,785162,189
Eric AlexanderOption16,5747.65
Kevin FrancisOption10,8777.65
George BeeOption22,7907.65
Kevin FrancisRSU7,05777,413
05

Incentive-plan design — the Compensation Discussion & Analysis

The Compensation Committee believes that the Company's compensation programs appropriately reward prudent business judgment and risk-taking over the long term.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantBedford
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
07

CEO pay ratio

Ratio (CEO : median employee)
CEO total compensation
Median employee compensation
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Luke NormanIndependent · Board Chair · Audit · Compensation · Nominating/Governance · Risk · Executive · Finance · Technology · ESG$17,500$160,406$126,913$195,833$500,652$500,652
Johanna FipkeIndependent · Audit · Compensation · Nominating/Governance · Risk · Executive · Finance · Technology · ESG37,500130,24247,76500213,507
Robert W. SchaferIndependent · Lead Independent Director · Audit · Compensation · Nominating/Governance · Risk · Executive · Finance · Technology · ESG43,50047,98147,765139,246
Michael WaldkirchIndependent · Audit · Compensation · Nominating/Governance · Risk · Executive · Finance · Technology · ESG37,50047,98147,765133,246
09

Board fee structure and ownership guideline

Annual cash retainer$7,500
Annual equity retainer$47,981
Per board meeting fee$0
Committee chair fees (audit / comp / nom-gov)2,500 / 2,000 / 2,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$136,000
Equity awards (grant-date value)$386,610
All other compensation$500,652
Total cost of the board$1,023,262

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10b

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.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1U.S. Gold2025George Bee$323,333$348,221$281,116$1,012,670

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.

11

Source register

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.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, George BeeDEF 14A2026-03-100001493152-26-009445Section “Summary Compensation Table” · page 21. As printed: 1,012,670. Filing ↗machine: t58 · r1 · c27 · span 378465–378474
2Section 01, Eric AlexanderDEF 14A2026-03-100001493152-26-009445Section “Summary Compensation Table” · page 21. As printed: 781,252. Filing ↗machine: t58 · r4 · c27 · span 387405–387412
3Section 01, Kevin FrancisDEF 14A2026-03-100001493152-26-009445Section “Summary Compensation Table” · page 21. As printed: 588,931. Filing ↗machine: t58 · r8 · c27 · span 399363–399370
4Section 07, pay ratio10-K2026-07-290001493152-26-035188Section “CEO Pay Ratio”. As printed: —. Filing ↗
5Section 08, Luke NormanDEF 14A2026-03-100001493152-26-009445Section “Director Compensation”. As printed: 500,652. Filing ↗machine: t53 · r1 · c19 · span 341620–341627
6Section 08, Johanna FipkeDEF 14A2026-03-100001493152-26-009445Section “Director Compensation”. As printed: 213,507. Filing ↗machine: t53 · r4 · c19 · span 348071–348078
7Section 08, Robert W. SchaferDEF 14A2026-03-100001493152-26-009445Section “Director Compensation”. As printed: 139,246. Filing ↗machine: t53 · r2 · c19 · span 343775–343782
8Section 08, Michael WaldkirchDEF 14A2026-03-100001493152-26-009445Section “Director Compensation”. As printed: 133,246. Filing ↗machine: t53 · r3 · c19 · span 345930–345937
9Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
10Section 09b board cost (computed)ComputedcomputedCash 136,000 + equity 386,610 + all other 500,652 = 1,023,262, summed across the director compensation table rows.machine: formula: Σ = 1,023,262
11U.S. Gold (subject), Section 10b CEO totalDEF 14A2026-03-100001493152-26-009445CEO total compensation as printed in U.S. Gold's own proxy. As printed: 1,012,670. Filing ↗machine: t58 · r1 · c27 · span 378465–378474