8-KMaterial AgreementsExhibits & Filings

NEWMONT Corp /DE/ 8-K Report, Material Agreement (May 2, 2005)

Filed May 2, 2005For Securities:NEMNEMCL

Summary

Newmont Mining Corporation (NEM) filed an 8-K on May 1, 2005, reporting the approval of the Newmont Mining Corporation 2005 Stock Incentive Plan (the "2005 Plan") by its stockholders on April 27, 2005. This plan is designed to align the interests of key personnel, including employees, non-employee directors, and consultants, with those of the shareholders by providing equity-based compensation. The plan authorizes up to 20 million shares of common stock for awards, with specific sub-limits for restricted stock, other stock-based awards, and non-employee director awards, aiming to attract, retain, and reward talent. Additionally, the filing notes a change in the compensation for newly elected or re-elected non-employee directors. Instead of the previously outlined stock awards, these directors will receive an equity-based award valued at $50,000 on the grant date, with terms to be determined by the Board of Directors. This strategic move through the 2005 Plan underscores Newmont's commitment to its human capital as a driver of corporate growth and success.

Key Highlights

  • 1Stockholders approved the Newmont Mining Corporation 2005 Stock Incentive Plan (2005 Plan) on April 27, 2005.
  • 2The 2005 Plan aims to attract, retain, and reward employees, non-employee directors, and consultants.
  • 3A maximum of 20,000,000 shares of common stock are available under the 2005 Plan.
  • 4Specific sub-limits exist for restricted stock (10M shares) and non-employee director awards (1M shares).
  • 5The Compensation Committee will administer the 2005 Plan.
  • 6Non-employee directors will receive a $50,000 equity award instead of previously planned stock awards.
  • 7The filing references the company's 2005 Proxy Statement for further details on the plan.

Frequently Asked Questions

The primary purpose of the 2005 Stock Incentive Plan is to enhance the company's growth and success by providing equity-based incentives to employees, non-employee directors, and consultants. This aims to attract, retain, and reward these individuals and align their interests with those of the company's stockholders.

The 2005 Plan makes a maximum of 20,000,000 shares of Newmont's common stock available for awards. However, there are sub-limits, with no more than 10,000,000 shares for restricted stock or other stock-based awards, and no more than 1,000,000 shares for non-employee director awards.

Instead of the previously announced stock awards, non-employee directors elected or re-elected at the 2005 Annual Meeting will receive an equity-based award with a fair market value of $50,000 on the date of grant. The specific form and terms of this award will be determined by the Board of Directors.

More detailed information, including a summary of the material features, can be found in Newmont's proxy statement for the 2005 Annual Meeting of Stockholders, which was filed with the SEC on March 17, 2005. The full text of the plan is also included as part of that filing.