8-K/ALeadership Changes

NEWMONT Corp /DE/ 8-K/A Report, Executive Changes (Oct 2, 2023)

Filed October 2, 2023For Securities:NEMNEMCL

Summary

This 8-K/A filing from Newmont Corporation (NEM) serves as an amendment to a previous filing, primarily to disclose the sign-on compensation package for its new Executive Vice President and Chief Operating Officer, Natascha Viljoen, and to provide updated information on the transition of the COO role. The filing details that Ms. Viljoen, who officially joined the Executive Leadership Team on October 2, 2023, will receive a one-time cash payment of $500,000 and a restricted stock award valued at $5,811,000. Both components of her sign-on compensation are subject to retention and vesting conditions. Furthermore, the report outlines the phased responsibilities Ms. Viljoen will assume for various business units, including Australia, North America, and eventually Papua New Guinea post-Newcrest acquisition integration. This structured approach aims to ensure a smooth operational transition and effective integration of Newcrest's assets and personnel, with the current COO, Mr. Rob Atkinson, supporting this process and then transitioning to a strategic role. Investors should note the specific details of Ms. Viljoen's compensation and her progressive assumption of operational oversight, which are key to understanding executive remuneration and strategic leadership appointments.

Key Highlights

  • 1Amendment to a prior 8-K filing to disclose executive compensation and role transition details.
  • 2Natascha Viljoen officially joined Newmont's Executive Leadership Team as EVP and COO on October 2, 2023.
  • 3Ms. Viljoen's sign-on compensation includes a $500,000 cash payment (subject to a two-year prorated clawback).
  • 4A restricted stock award valued at $5,811,000 for Ms. Viljoen will vest ratably over three years, contingent on continued employment.
  • 5Ms. Viljoen will initially assume responsibility for Australia and North America Business Units on November 1, 2023.
  • 6Post-acquisition of Newcrest, Ms. Viljoen is slated to oversee the Papua New Guinea Business Unit and integration efforts.
  • 7Rob Atkinson will continue to manage Africa, Peru, and Latin America & Caribbean Business Units, and Global Projects during the transition period.

Frequently Asked Questions

The primary purpose of this 8-K/A filing is to amend a previous filing to disclose the specific sign-on compensation arrangement for Natascha Viljoen, the new Executive Vice President and Chief Operating Officer, and to provide updated information regarding the transition of the Chief Operating Officer role and her responsibilities.

Ms. Viljoen's sign-on compensation includes a one-time cash payment of $500,000 and a restricted stock award with a target value of $5,811,000. The total target value of this compensation package is approximately $6,311,000.

The $500,000 cash payment is subject to a two-year prorated retention clawback. The restricted stock award will vest ratably over three years, conditional on Ms. Viljoen's continued employment with Newmont.

Ms. Viljoen will progressively assume operational oversight. She will start with the Australia and North America Business Units on November 1, 2023, and will also oversee the Papua New Guinea Business Unit and Newcrest integration post-acquisition. Mr. Rob Atkinson will continue to manage other units during this period and will transition to a strategic role in early 2024 when Ms. Viljoen takes full accountability for all business units.