Coeur Mining (CDE) proxy highlights New Gold close, record cash and pay outcomes
Coeur Mining, Inc. files its 2026 Proxy Statement to solicit votes for the virtual May 12, 2026 Annual Meeting, including election of nine directors and four routine proposals.
The filing highlights 2025 operational and financial results: record full‑year production, a >tenfold increase in cash to $554M at year‑end, record free cash flow and adjusted EBITDA, integration of Las Chispas after the SilverCrest acquisition, and completion of the New Gold acquisition in March 2026. The Board describes continued refreshment, three director additions tied to recent acquisitions, strong pay‑for‑performance outcomes (AIP payout 133%; LTIP payout 166%), and corporate responsibility progress, including a 38% reduction in GHG net intensity as of end of 2024.
Positive
- None.
Negative
- None.
Insights
Proxy seeks routine governance approvals and emphasizes Board refreshment tied to acquisitions.
The Proxy requests shareholder ratification of the auditor, an amendment to limit certain officer liabilities, approval of executive compensation, and election of nine directors. It notes Board additions from the SilverCrest and New Gold transactions and that independent committees oversee audit, compensation and EHSCR.
Board composition metrics cited include an average tenure ~7.6 years if all nominees are elected and that 89% of nominees are independent. Future disclosures and integration updates are referenced as ongoing matters in periodic filings.
Pay outcomes reflect above‑target 2025 performance with strong incentive payouts.
The Proxy reports the 2025 Annual Incentive Plan paid out at 133% of target driven by production, costs, adjusted EBITDA and EHS performance; the 2023–2025 LTIP paid at 166%, aided by reserves and resources growth and a positive relative TSR modifier.
Compensation governance highlights include >97% shareholder support on 2025 say‑on‑pay and continued emphasis on tying incentive metrics to EHS and strategic initiatives. Detailed CD&A tables and reconciliations are provided in the filing.
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☒ | Preliminary Proxy Statement |
☐ | Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) |
☐ | Definitive Proxy Statement |
☐ | Definitive Additional Materials |
☐ | Soliciting Material Pursuant to §240.14a-12 |
(Name of Registrant as Specified In Its Charter) |
(Name of Person(s) Filing Proxy Statement, if other than the Registrant) |
☒ | No fee required |
☐ | Fee paid previously with preliminary materials |
☐ | Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11 |
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Record full-year production supported by solid cost performance | Successfully integrated Las Chispas operation following acquisition of SilverCrest Metals Inc. | Strong operating and financial results at Rochester; record crushing rates | ||||||
Cash increased more than tenfold to $554M at year-end | Announced acquisition of New Gold Inc. on November 3, 2025 | Record full-year earnings, free cash flow1, and adjusted EBITDA1 | ||||||
1 | Free cash flow and adjusted EBITDA are non-GAAP measures. See non-GAAP reconciliation tables in the appendix to this Proxy Statement. |
• COEUR MINING 2026 Proxy Statement |
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![]() On behalf of the Board, the management team and employees, we thank you for your continued support of Coeur Mining and look forward to hosting you at this year’s Annual Meeting. | ||

COEUR MINING 2026 Proxy Statement • i |
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Agenda | |||||
1 | Elect the nine director nominees named in the accompanying Proxy Statement | ||||
2 | Ratification of the appointment of Grant Thornton LLP as our independent registered public accounting firm for 2026 | ||||
3 | Approval of an amendment to the Company’s Certificate of Incorporation to limit the liability of certain officers as permitted by law | ||||
4 | Advisory resolution to approve named executive officer compensation | ||||
5 | Transact such other business as properly may come before the Annual Meeting | ||||

MEETING DATE Tuesday, May 12, 2026 | |||||||
TIME 9:30 a.m. Central Time | |||||||
PLACE Live via the internet – please visit www.virtualshareholdermeeting.com/ CDE2026 | |||||||
RECORD DATE March 18, 2026 | |||||||
YOUR VOTE IS IMPORTANT | |||||||
Please cast your vote as soon as possible by using one of the following methods: | |||||||
Online at www.proxyvote.com | |||||||
Mail your signed proxy or voting instruction form | |||||||
Call toll-free from the United States, U.S. territories and Canada via 1-800-690-6903 | |||||||
Attend the Annual Meeting online www.virtualshareholder meeting.com/CDE2026 | |||||||
For more information about voting, see “General Information” on page 88. | |||||||
Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting to be held on May 12, 2026. This Proxy Statement and our 2025 Annual Report to Stockholders, which contains financial and other information concerning Coeur Mining, Inc., are available at www.proxyvote.com. | |||||||
ii • COEUR MINING 2026 Proxy Statement |
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1 | Proxy Statement Summary | |||||||
9 | Corporate Governance | |||||||
9 | Best Practices | |||||||
9 | Director and Nominee Experience and Qualifications | |||||||
11 | Board Composition and Refreshment | |||||||
11 | Director Nomination Process | |||||||
11 | Evaluation Process for Current Directors | |||||||
12 | Majority Vote Standard for the Election of Directors | |||||||
14 | Proposal No. 1: Election of Directors | |||||||
14 | Director Nominees | |||||||
25 | Meeting Attendance | |||||||
25 | Committees of the Board of Directors | |||||||
27 | Board Leadership Structure | |||||||
27 | Director Independence | |||||||
28 | Related Person Transactions | |||||||
29 | Meetings of Non-Management Directors | |||||||
29 | Director Education and Development | |||||||
29 | Policy Regarding Recommending Nominees by Stockholders | |||||||
29 | Management Succession Planning and Talent Development | |||||||
30 | Board Oversight of Long-Term Strategy and Capital Allocation | |||||||
30 | Stockholder Outreach and Engagement | |||||||
31 | Corporate Governance Guidelines and Code of Business Conduct and Ethics | |||||||
31 | Corporate Responsibility | |||||||
35 | Human Capital Management | |||||||
37 | Policy Regarding Stockholder and Other Interested Person Communications with Directors | |||||||
37 | Compensation Consultant Disclosure | |||||||
38 | Risk Oversight | |||||||
40 | Cybersecurity Oversight | |||||||
40 | Compensation and Leadership Development Committee Role in Risk | |||||||
40 | Compensation and Leadership Development Committee Interlocks and Insider Participation | |||||||
41 | Audit and Non-Audit Fees | |||||||
41 | Audit Committee Policies and Procedures for Pre-Approval of Independent Auditor Services | |||||||
42 | Audit Committee Report | |||||||
43 | Proposal No. 2: Ratification of Appointment of Independent Registered Public Accounting Firm for 2026 | |||||||
44 | Proposal No. 3: Approval of an Amendment to the Company’s Certificate of Incorporation to Limit the Liability of Certain Officers as Permitted by Law | |||||||
46 | Information about our Executive Officers | |||||||
49 | Share Ownership | |||||||
51 | Compensation Discussion and Analysis | |||||||
51 | CD&A Summary | |||||||
56 | Our Executive Compensation Program | |||||||
60 | 2025 Executive Compensation—Realized and Realizable Pay | |||||||
61 | 2025 Executive Compensation Results | |||||||
70 | Other Compensation Arrangements and Policies | |||||||
72 | Director Compensation | |||||||
73 | Compensation and Leadership Development Committee Report | |||||||
74 | Proposal No. 4: Advisory Resolution to Approve Named Executive Officer Compensation | |||||||
76 | 2025 Executive Compensation Information | |||||||
76 | 2025 Summary Compensation Table | |||||||
78 | 2025 Grants of Plan-Based Awards | |||||||
79 | Narrative Disclosure to Summary Compensation Table and Grants of Plan-Based Awards Table | |||||||
80 | Outstanding Equity Awards at 2025 Year-End | |||||||
81 | 2025 Stock Vested | |||||||
81 | Nonqualified Deferred Compensation | |||||||
82 | Potential Payments Upon Termination or Change-In-Control | |||||||
85 | 2025 Ratio of CEO Compensation to Median Employee Compensation | |||||||
86 | Pay-versus-Performance Table | |||||||
88 | General Information | |||||||
92 | Other Matters | |||||||
92 | Stockholder Proposals for the 2027 Annual Stockholders’ Meeting | |||||||
93 | Appendix A – Certain Additional Information | |||||||
93 | Reconciliation of Non-U.S. GAAP Information | |||||||
95 | Reserves and Resources | |||||||
96 | Appendix B – Amendment to the Company’s Certificate of Incorporation to Limit the Liability of Certain Officers as Permitted by Law | |||||||
COEUR MINING 2026 Proxy Statement • iii |
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iv • COEUR MINING 2026 Proxy Statement |
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Adjusted EBITDA1 | Earnings before interest, taxes, depreciation and amortization, adjusted to exclude items that may not be indicative of, or are unrelated to our core operating results | ||
AgEqOz | Silver equivalent ounce | ||
AIP | Annual Incentive Plan | ||
Annual Meeting | 2026 Annual Stockholders’ Meeting to be held May 12, 2026 | ||
Audit Committee | Audit Committee of the Board | ||
AuEqOz | Gold equivalent ounce | ||
Board | Coeur’s Board of Directors | ||
CAS | Costs applicable to sales | ||
CD&A | Compensation Discussion and Analysis | ||
CLD Committee | Compensation and Leadership Development Committee of the Board | ||
Code | Coeur’s Code of Business Conduct and Ethics | ||
Coeur or the Company | Coeur Mining, Inc. | ||
EHSCR Committee | Environmental, Health, Safety and Corporate Responsibility Committee of the Board | ||
Executive Committee | Executive Committee of the Board | ||
FCF | Free Cash Flow | ||
GAAP | Generally Accepted Accounting Principles | ||
GHG | Greenhouse Gas | ||
GRI | Global Reporting Initiative | ||
HCM | Human Capital Management | ||
LTIP or Plan | Coeur Mining, Inc. 2018 Long-Term Incentive Plan, as amended | ||
Meridian | Meridian Compensation Partners, Inc. | ||
NCG Committee | Nominating and Corporate Governance Committee of the Board | ||
NEOs | Named Executive Officers | ||
NYSE | New York Stock Exchange | ||
PCAOB | Public Company Accounting Oversight Board | ||
PSUs | Performance share units issued under the LTIP | ||
Record Date | March 18, 2026 | ||
ROIC | Return on invested capital | ||
rTSR | Relative TSR | ||
SASB | Sustainability Accounting Standards Board | ||
SEC | Securities and Exchange Commission | ||
TCFD | Financial Stability Board’s Task Force on Climate-related Financial Disclosures | ||
Total Debt | Total Company debt, which includes capital leases, net of debt issuance costs and premium received | ||
TRIFR | Total Reportable Injury Frequency Rate | ||
TSR | Total stockholder return | ||
1 | Please see “Appendix A—Certain Additional Information” for more information about non-GAAP measures used in this Proxy Statement and reconciliations of these measures to U.S. GAAP. |
Where You Can Find More Information | |||||
ANNUAL MEETING | |||||
Annual Report www.coeur.com/_resources/pdfs/ 2026-Annual-Report.pdf | |||||
Annual Meeting Website www.coeur.com/investors/events/ 2026-annual-stockholders-meeting | |||||
Vote your shares via the internet www.proxyvote.com | |||||
Register to attend the meeting www.proxyvote.com | |||||
INVESTOR RELATIONS | |||||
www.coeur.com/investors/overview/ | |||||
CORPORATE GOVERNANCE | |||||
The following are available in the Corporate Governance section of our website: | |||||
www.coeur.com/company/ corporate-governance/ | |||||
• | Audit Committee Charter | ||||
• | CLD Committee Charter | ||||
• | EHSCR Committee Charter | ||||
• | Executive Committee Charter | ||||
• | NCG Committee Charter | ||||
• | Code of Business Conduct and Ethics | ||||
• | Clawback and Forfeiture Policy | ||||
• | Insider Trading Policy | ||||
• | Bylaws | ||||
• | Certificate of Incorporation | ||||
• | Corporate Governance Guidelines | ||||
COEUR MINING 2026 Proxy Statement • v |
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Proxy Statement Summary | |||||
IN THIS SECTION | |||||
1 | Annual Meeting | ||||
1 | Voting Matters | ||||
2 | Our Business and Strategy | ||||
2 | 2025 Performance Highlights | ||||
3 | 2025 Executive Compensation Highlights | ||||
4 | Ongoing Evolution of Executive Compensation Program | ||||
4 | 2025 Investor Outreach and Engagement Highlights | ||||
5 | Corporate Governance Highlights and Best Practices | ||||
6 | Director Nominees | ||||
7 | Human Capital Management and Culture | ||||
7 | Corporate Responsibility | ||||
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TIME AND DATE 9:30 a.m. Central Time on Tuesday, May 12, 2026 | PLACE Live via the internet at www.virtualshareholdermeeting.com/CDE2026 | RECORD DATE Wednesday, March 18, 2026 | |||||||||
VOTING Holders of common stock as of the Record Date are entitled to vote. Each share of common stock is entitled to one vote for each director nominee and one vote for each of the proposals to be voted on. | ATTENDANCE You are entitled to attend the Annual Meeting only if you were a Coeur stockholder as of the close of business on the Record Date or hold a valid proxy for the Annual Meeting. | ||||
Proposal | Coeur Board Voting Recommendation | Page Reference (for more detail) | ||||||||
1 | Election of nine director nominees named in this accompanying Proxy Statement | FOR each nominee | 14 | |||||||
2 | Ratification of the appointment of Grant Thornton LLP as Coeur’s independent registered public accounting firm for 2026 | FOR | 43 | |||||||
3 | Approval of an amendment to the Company’s Certificate of Incorporation to limit the liability of certain officers as permitted by law | FOR | 44 | |||||||
4 | Advisory resolution to approve named executive officer compensation | FOR | 74 | |||||||
We will make a charitable contribution of $1 to Hire Heroes USA for every stockholder account that votes, up to a maximum donation of $10,000. Coeur is committed to recruiting, supporting and integrating veterans into our operations through our Coeur Heroes program, launched in 2018. Coeur Heroes provides past and present service members with the opportunity to use the special skills they developed during their time of service to help make a difference at our operations. As of December 31, 2025, we have provided more than 110 career placements to well-qualified U.S. military personnel. | |||
COEUR MINING 2026 Proxy Statement • 1 |
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Proxy Statement Summary | |
PROTECT | DEVELOP | DELIVER | ||||
Our People, Places, Planet | Quality Resources, Growth, Plans, Talent | Impactful Results Through Teamwork | ||||
Announced New Gold transaction, which closed in March 2026 | Strong operating and financial results at Rochester; record crushing rates | ||||
Delivered record full-year production | Record full-year cash flow1, adjusted EBITDA1 and earnings | Strong CAS performance across the portfolio | ||||
Meaningful additions in year-end gold and silver reserves and resources | Well positioned for record 2026 results |
1 | Free cash flow and adjusted EBITDA are non-GAAP measures. See non-GAAP reconciliation tables in the appendix to this Proxy Statement. |
2 • COEUR MINING 2026 Proxy Statement |
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Proxy Statement Summary | |
The CD&A section provides a detailed discussion of the philosophy, structure and compensation paid to our NEOs for 2025, and describes our leading compensation practices, and the strong link between pay and Company performance. At our 2025 Annual Meeting, our stockholders again showed strong support for our executive compensation program with over 97% of the votes cast for the approval of our “say-on-pay” proposal. | OVER 97% | |||
APPROVAL OF OUR “SAY-ON-PAY” PROPOSAL |

Metric | Weight | Result | Weighted Payout | ||||||||
Gold Production | 13% | 115% | 15.0% | ||||||||
Silver Production | 7% | 79% | 5.5% | ||||||||
Gold CAS | 13% | 144% | 18.7% | ||||||||
Silver CAS | 7% | 98% | 6.9% | ||||||||
Adjusted EBITDA | 20% | 104% | 20.9% | ||||||||
Strategic Initiatives | 20% | 171% | 34.2% | ||||||||
EHS Scorecard | 20% | 160% | 32.0% | ||||||||
Total Payout | 133%3 | ||||||||||
Metric | Weight2 | Result | Weighted Payout3 | ||||||||
ROIC | 50% | 65% | 32.5% | ||||||||
Reserves & Resources Growth | |||||||||||
P&P AuEq Ounce Additions | 25% | 200% | 50% | ||||||||
Inferred AuEq Ounce Additions | 25% | 200% | 50% | ||||||||
Primary Measures Result | 100% | 132.5% | |||||||||
Relative TSR Modifier | x125% | ||||||||||
Total Payout | 166% | ||||||||||
1 | For details about the calculation of 2025 AIP and 2023-2025 LTIP performance shares results, see “2025 Executive Compensation Results” beginning on page 61. |
2 | Weighting is calculated as a percentage of the total 2023 performance share grant target value. For details about the calculation of the payout for the 2023 performance share awards, see “Payouts for 2023-2025 Performance Shares” on page 67. |
3 | By convention, the actual weighted payout is rounded to the nearest whole number. |
COEUR MINING 2026 Proxy Statement • 3 |
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Proxy Statement Summary | |

![]() OUTREACH TO ALL INVESTORS HOLDING 0.15% OR MORE OUTSTANDING COEUR STOCK | ![]() 5 CONFERENCE CALLS WITH INVESTORS AND ANALYSTS WITH Q&A, INCLUDING ONE TO ANNOUNCE THE NEW GOLD ACQUISITION | ||||||||||
![]() PARTICIPATED IN 14 INVESTOR CONFERENCES | OVER 190 ONE-ON-ONE AND GROUP MEETINGS WITH INVESTORS | ![]() INVESTOR TOUR OF ROCHESTER IN MAY 2025 AND WHARF IN JULY 2025 | |||||||||
What We Heard from Stockholders | What We Did | |||||||
Improve free cash flow and strengthen balance sheet | • Generated strong operating cash flow as growth capital spending declined. Finished 2025 with a record breaking $666 million of free cash flow • Coeur’s focus on reducing debt and building out a robust balance sheet led to a significant reduction in our net leverage ratio and significantly improved cash position • Net leverage ratio decreased from 1.6x at the end of 2024 to (0.2x) at the end of 2025 • Bolstered liquidity position with a year-end cash balance of $554 million, a near 10x increase vs. prior year | |||||||
Successfully integrate Las Chispas and drive enhancements at Rochester | • Closed on the acquisition of SilverCrest Metals, Inc. and successfully integrated the Las Chispas mine into Coeur’s portfolio to bolster annual production levels and financial performance • Advanced enhancements to the expanded Rochester operation, delivering sequential improvements in production and operating performance over the year • Reached record quarterly ore tonnes crushed and placed at Rochester in the fourth quarter with 6.4 million tonnes crushed and 9.3 million tonnes placed. Silver and gold production increased 40% and 54% year-over-year, respectively, which supported the operation in achieving record free cash flow of $78 million in the fourth quarter | |||||||
Link executive compensation program to drive long-term stockholder value | • AIP and LTIP include metrics that are key drivers of stockholder value and aligned with stockholder returns |
4 • COEUR MINING 2026 Proxy Statement |
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Proxy Statement Summary | |
What We Heard from Stockholders | What We Did | |||||||
Emphasize culture and human capital management | • Completed internal culture survey, with 92% employee participation and strong results; developed plans to address areas of opportunity for improvement based on survey feedback | |||||||
Include directors in stockholder engagement calls | • Our independent directors, including the chairs of our Board committees, are made available to engage directly with stockholders as part of our annual stockholder outreach program |
EFFECTIVE BOARD LEADERSHIP AND STRATEGIC RISK OVERSIGHT | LEAD INDEPENDENT DIRECTOR | BEST-IN-CLASS GOVERNANCE PRACTICES | 8 OF 9 INDEPENDENT DIRECTOR NOMINEES | ||||||||
BALANCED NOMINEE TENURE | NOMINEE INDEPENDENCE | |||||||||||||
0-5 YEARS | 6-10 YEARS | 10+ YEARS | 89% OF BOARD NOMINEES ARE INDEPENDENT | |||||||||||

COEUR MINING 2026 Proxy Statement • 5 |
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Proxy Statement Summary | |
Name and Principal Occupation | Age | Director Since | Independent | Other Public Company Boards | Committee Memberships | ||||||||||||
Linda L. Adamany Independent Lead Director, Jefferies Financial Group Inc.; Director, Vitesse Energy, Inc. and BlackRock Institutional Trust Company | 74 | 2013 | ![]() | 2 | Audit – Chair CLD Exec NCG | ||||||||||||
Pierre Beaudoin Non-Executive Chairman, Radisson Mining Resources, Inc. | 62 | 2025 | ![]() | 1 | EHSCR | ||||||||||||
Paramita Das Director, Genco Shipping & Trading Ltd. and Toromont Industries, Ltd. | 49 | 2023 | ![]() | 2 | Audit EHSCR NCG | ||||||||||||
Patrick Godin Former President and Chief Executive Officer, New Gold Inc. | 57 | 2026 | ![]() | 0 | |||||||||||||
Jeane L. Hull Director, Epiroc AB, Hudbay Minerals, and Wheaton Precious Metals Corporation | 71 | 2022 | ![]() | 3 | EHSCR – Chair CLD | ||||||||||||
Mitchell J. Krebs Chairman, President & CEO of Coeur Mining, Inc. | 54 | 2011 | 0 | Exec – Chair | |||||||||||||
Eduardo Luna Non-Executive Chairman, Rochester Resources Ltd.; Lead Director, Vizsla Silver Corp. | 80 | 2018 | ![]() | 2 | Audit EHSCR | ||||||||||||
Marilyn Schonberner Director, Wheaton Precious Metals Corporation | 66 | 2026 | ![]() | 1 | Audit | ||||||||||||
J. Kenneth Thompson Lead Independent Director of Coeur Mining, Inc.; President and CEO of Pacific Star Energy LLC | 74 | 2002 | ![]() | 0 | CLD – Chair Exec NCG |
6 • COEUR MINING 2026 Proxy Statement |
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Proxy Statement Summary | |
SAFE | ![]() ETHICAL | ![]() ENGAGED | PROUD | ||||||||
Reduced the net intensity of our emissions by 38% as of the end of 2024, surpassing our goal of 35% reduction1 | Tied executive compensation and individual incentive programs to EHS performance | Sourced renewable power for Rochester, Wharf and Las Chispas | Implementing Global Industry Standard on Tailings Management across all sites | ||||||||
As of 2022, Coeur received an MSCI ESG Rating of “A”2 | Coeur is ranked first among U.S. peers with the lowest Total Reportable Injury Frequency Rate in 20253 | Palmarejo is a 13-time recipient of Empresa Socialmente Responsable distinction and Las Chispas received the distinction in 20254 | Advanced biodiversity risk assessments in line with our biodiversity management standard | ||||||||
Active Board refreshment including three new directors in the last two years | ISS QualityScore of “1” for Governance (Highest Possible) | Mitch Krebs, Chairman, President & CEO, served as Chair of NMA ECG Task Force and as Chair of NMA | 2024 Winner Best Compliance and Ethics Program (small/mid-cap) and Best Proxy statement (mid-cap), Corporate Secretary | ||||||||
1 | Base Year GHG Intensity of 14.21 kg CO2 e/ton processed calculated using an average of 2018 and 2019 Scope 1 and Scope 2 emissions and production values. |
2 | For more information on MSCI ESG Ratings, please visit https://www.msci.com/notice-and-disclaimer. |
3 | Source(s): U.S. Department of Labor Mine Safety and Health Administration (MSHA): Metal Operators Mine Safety and Health Statistics; Coeur average 0.17 injuries per 200,000 employee-hours worked vs. industry average 1.31. |
4 | The Socially Responsible Company (ESR®) Distinction is an annual recognition granted by the Mexican Center for Philanthropy (Centro Mexicano para la Filantropía, CEMEFI) to companies that demonstrate strong ethical practices, community engagement, environmental responsibility and sound governance. |
COEUR MINING 2026 Proxy Statement • 7 |
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Corporate Governance | |||||
IN THIS SECTION | |||||
9 | Best Practices | ||||
9 | Director and Nominee Experience and Qualifications | ||||
11 | Board Composition and Refreshment | ||||
11 | Director Nomination Process | ||||
11 | Evaluation Process for Current Directors | ||||
12 | Majority Vote Standard for the Election of Directors | ||||
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• | All directors and nominees are independent under NYSE and applicable SEC standards other than the Chief Executive Officer (“CEO”) |
• | Proactive ongoing stockholder outreach on governance, executive compensation and other corporate matters, including participation by independent directors |
• | Active Board refreshment, with three current directors added in the last two years |
• | Lead Director’s one-on-one meetings with each director promote candor, effectiveness and accountability |
• | Strong mix of directors with complementary skills |
• | Majority voting in uncontested director elections with a resignation policy |
• | Annual evaluations promote Board and Board committee effectiveness |
• | All directors elected annually for one-year terms |
• | Proxy access allows stockholders who have satisfied requirements specified in our Bylaws to include director nominees in the Proxy Statement and form of proxy |
• | Stockholders owning 20% or more of Coeur’s common stock have the right to call a special meeting of the stockholders |
• | No related person transactions with directors, director nominees or executive officers |
• | No poison pill or similar anti-takeover defenses in place |
• | Peer-leading stock ownership guidelines for both directors and executive officers |
• | Active Board oversight of enterprise risk, including involvement in strategy setting and crisis management preparation and response efforts |
• | Clawback and Forfeiture Policy covers both financial restatements and officer misconduct and applies to annual incentive payouts along with both time-based and performance-based equity awards |
• | Annual advisory vote on named executive officer compensation |
• | Strategic and financial growth and building long-term value for our stockholders |
• | Fostering and maintaining a strong culture |
• | Cyclicality of commodities prices |
• | Attracting, developing and retaining talented employees |
• | Liquidity management in a capital-intensive industry |
• | Complying with laws and regulations in a heavily regulated industry |
• | Health and safety of our employees, contractors, and community partners |
• | Maintaining leading corporate governance and disclosure practices |
• | Environmental stewardship |
• | Implementing appropriate systems to identify, report and manage principal business risks |
• | Building positive relationships with the communities in which we operate |
COEUR MINING 2026 Proxy Statement • 9 |
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Corporate Governance | |
![]() | Strategy Development and Execution Directors with experience creating and advancing strategic direction and growth through mergers, acquisitions, joint ventures and other strategic initiatives, as well as overseeing commitment of resources and management of risk, provide critical insights in evaluating strategic plans and opportunities | ||
![]() | Project Development/Management The mining business is project intensive. Coeur benefits by having directors with experience in the entire lifecycle of acquiring, developing and managing large and complex projects | ||
![]() | Capital Markets Transactions Analysis and understanding of proposed capital markets transactions, including risks and impacts to our existing capital structure, is critical to oversight of strategy execution and project management | ||
![]() | Government Affairs, Regulatory and Legal We operate in a heavily regulated industry that is directly affected by governmental actions and legal requirements at the local, state and federal levels in the United States, Mexico and Canada | ||
![]() | Human Capital Management Oversight of the recruitment, retention and development of key talent is critical for execution of the Company’s strategies and initiatives | ||
![]() | Finance/Accounting We operate in a complex financial and regulatory environment with disclosure requirements, detailed business processes and internal controls | ||
![]() | Technology/Cybersecurity Providing perspectives on innovation and overseeing the physical and cyber threats against the security of our operations, assets and systems and response preparedness is critical to our operations | ||
![]() | Extractive or Cyclical Industry The mining sector, particularly precious metals mining, is cyclical, and stockholders and management benefit from the perspectives and experience of directors who have led firms through several full business cycles | ||
![]() | Environmental, Health, Safety and Community Matters Operating safely and protecting the environments and communities in which we operate is one of our highest priorities and essential to the success of our business | ||
![]() | Current and Former CEO/Group Executive Directors with experience in significant leadership positions possess strong abilities to motivate and develop people and understand the complexities and challenges of managing a large organization | ||
![]() | U.S. Public Company Board Service As a U.S.-based company with its primary listing on NYSE, directors who have experience serving on other U.S. public company boards generally are well-prepared to fulfill the Board’s responsibilities of overseeing and providing guidance to management in the context of U.S. public company regulation and governance structures | ||
![]() | Geographic Experience in the jurisdictions in which we operate helps us navigate unique jurisdictional challenges, including culture and legal and regulatory environments | ||
![]() | Diversity of Perspectives and Viewpoints A board with diverse skills, backgrounds and experiences helps to foster high quality discussions with a wide range of viewpoints and perspectives that can encourage well-reasoned decision-making and increase overall effectiveness | ||
10 • COEUR MINING 2026 Proxy Statement |
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Corporate Governance | |

• | Key Attributes and Responsibilities – In addition to having a Board composed of directors who collectively possess the well-rounded set of skills described above, directors should actively: represent the interests of stockholders; assess and advise management regarding major risks facing the Company; oversee that processes are in place for maintaining the integrity of the Company, its financial statements, its data and systems, its compliance with laws and ethics, its relationships with third parties, and its relationships with other stakeholders; contribute to the effective functioning of the Board; select, evaluate, retain and compensate a well-qualified CEO and senior management team; oversee succession planning; and commit to fostering an inclusive environment at the Company. |
• | Independence – Consideration is given to the interests or affiliations of a director and whether he or she is in compliance with applicable laws or stock exchange requirements or could compromise the independence and integrity of an independent director’s service on behalf of stockholders, including the director’s relationships with the Company that would interfere with the director’s exercise of independent judgment. |
COEUR MINING 2026 Proxy Statement • 11 |
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Corporate Governance | |
• | Commitment and Performance – A willingness and ability to devote the time necessary to serve on the Board is an important element of being an effective director. In this regard, we have a director overboarding policy included in our Corporate Governance Guidelines, which limits the total number of public company boards (including Coeur’s) to four, or two (including Coeur’s) for directors who are executive officers of public companies. |
12 • COEUR MINING 2026 Proxy Statement |
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Proposal 1: Election of Directors | |||||
IN THIS SECTION | |||||
14 | Director Nominees | ||||
25 | Meeting Attendance | ||||
25 | Committees of the Board of Directors | ||||
27 | Board Leadership Structure | ||||
27 | Director Independence | ||||
28 | Related Person Transactions | ||||
29 | Meetings of Non-Management Directors | ||||
29 | Director Education and Development | ||||
29 | Policy Regarding Recommending Nominees by Stockholders | ||||
29 | Management Succession Planning and Talent Development | ||||
30 | Board Oversight of Long-Term Strategy and Capital Allocation | ||||
30 | Stockholder Outreach and Engagement | ||||
31 | Corporate Governance Guidelines and Code of Business Conduct and Ethics | ||||
31 | Corporate Responsibility | ||||
35 | Human Capital Management | ||||
37 | Policy Regarding Stockholder and Other Interested Person Communications with Directors | ||||
37 | Compensation Consultant Disclosure | ||||
38 | Risk Oversight | ||||
40 | Cybersecurity Oversight | ||||
40 | Compensation and Leadership Development Committee Role in Risk | ||||
40 | Compensation and Leadership Development Committee Interlocks and Insider Participation | ||||
41 | Audit and Non-Audit Fees | ||||
41 | Audit Committee Policies and Procedures for Pre-Approval of Independent Auditor Services | ||||
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What am I voting for? | ||
![]() | The Board of Directors recommends a vote FOR each nominee listed in “Director Nominees” below. | ||

14 • COEUR MINING 2026 Proxy Statement |
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Proposal No. 1: Election of Directors | |
Skills/Background | Adamany | Beaudoin | Das | Godin | Hull | Krebs | Luna | Schonberner | Thompson | ||||||||||||||||||||
Current/Former CEO or Group Executive | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ||||||||||||||||||||
Project Development/ Management | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | |||||||||||||||||||||
Environmental, Health, Safety and Community Matters | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ||||||||||||||||||||||
Government Affairs, Regulatory & Legal | ![]() | ![]() | |||||||||||||||||||||||||||
Strategy Development & Execution | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ||||||||||||||||||||||
Capital Markets Transactions | ![]() | ![]() | ![]() | ||||||||||||||||||||||||||
Extractive/Cyclical Industry | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ||||||||||||||||||||
U.S. Public Company Board Service | ![]() | ![]() | ![]() | ![]() | ![]() | ||||||||||||||||||||||||
Finance/Accounting | ![]() | ![]() | ![]() | ||||||||||||||||||||||||||
Technology/Cybersecurity | ![]() | ![]() | ![]() | ![]() | |||||||||||||||||||||||||
Human Capital Management | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | |||||||||||||||||||||||
Culture | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() |
COEUR MINING 2026 Proxy Statement • 15 |
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Proposal No. 1: Election of Directors | |
![]() AGE: 74 INDEPENDENT DIRECTOR SINCE: 2013 COMMITTEE MEMBERSHIPS: • Audit – Chair • Compensation and Leadership Development • Executive • Nominating and Corporate Governance | Linda L. Adamany | ||||||||||||||||||
EXPERIENCE • Independent Lead Director and Chair of the Nominating and Governance Committee of Jefferies Financial Group Inc., a global investment banking and capital markets firm, since March 2022 (Board member since March 2014); Independent Member of the Board of Directors and chair of the Remuneration Committee of Jefferies International Limited, a wholly-owned subsidiary of Jefferies Financial Group Inc., since March 2021 | |||||||||||||||||||
• Non-executive director and chair of the Compensation Committee of Vitesse Energy, Inc. since January 2023 and director of BlackRock Institutional Trust Company since March 2018 | |||||||||||||||||||
• Former executive of BP plc, a UK-based international oil and gas company, serving in a variety of leadership roles over her 27-year career there until her retirement in August 2007, including CEO of BP Shipping, the largest privately owned crude oil ship and product tanker owner/operator in the world; Executive Assistant to the Group Chief Executive; and Group Vice President and Commercial Director of Refining & Marketing, a then $45 billion business | |||||||||||||||||||
• Former non-executive director of Wood plc, a company that provides project, engineering and technical services to energy and industrial markets, from October 2017 to May 2019 | |||||||||||||||||||
• Former non-executive director of Amec Foster Wheeler plc, an engineering, project management and consultancy company, from October 2012 to October 2017, when Amec was acquired by Wood Group plc | |||||||||||||||||||
• Former member of the Board of Directors of National Grid plc, an electricity and gas generation, transmission and distribution company, from November 2006 to November 2012 | |||||||||||||||||||
• Recognized as one of Women Inc. Magazine’s 2018 Most Influential Corporate Directors | |||||||||||||||||||
• Certified Public Accountant | |||||||||||||||||||
EDUCATION Ms. Adamany earned a degree in Accounting from John Carroll University (magna cum laude) and has completed executive education studies at Harvard University, University of Cambridge and Tsing Hua University (China). | |||||||||||||||||||
EXPERTISE AND QUALIFICATIONS Ms. Adamany brings to the Board leadership, financial and accounting expertise, strategic planning experience, and experience in the extractive resources industry and with cyclical businesses through her positions with BP plc and project management experience as director of Wood plc and Amec Foster Wheeler plc. | |||||||||||||||||||
| Current and Former CEO/Group Executive | | Finance/ Accounting | | Strategy Development and Execution | ||||||||||||||
| Extractive or Cyclical Industry | | Project Development/ Management | | U.S. Public Company Board Service | ||||||||||||||
| Environmental, Health, Safety and Community Matters | | Human Capital Management | | Technology/ Cybersecurity | ||||||||||||||
| Culture | ||||||||||||||||||
16 • COEUR MINING 2026 Proxy Statement |
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Proposal No. 1: Election of Directors | |
![]() AGE: 62 INDEPENDENT DIRECTOR SINCE: 2025 COMMITTEE MEMBERSHIPS: • Environmental, Health, Safety and Corporate Responsibility | Pierre Beaudoin | ||||||||||||||||||
Experience • Non-Executive Chairman of the Board of Radisson Mining Resources, Inc., a gold exploration company in Canada, since July 2024 | |||||||||||||||||||
• Former director of SilverCrest Metals Inc., a precious metals mining company, from June 2018 to November 2018 and February 2024 until Coeur’s acquisition of SilverCrest in February 2025; Chief Operating Officer of SilverCrest Metals Inc. from November 2018 to January 2024 | |||||||||||||||||||
• Former Chief Operating Officer and Senior Vice President of Capital Projects with Detour Gold Corporation, a gold mining company, from January 2013 to July 2017 and January 2010 to December 2012, respectively | |||||||||||||||||||
• Served in various roles over a 16-year career with Barrick Gold Corporation, including in senior capital project management roles from September 2004 to January 2010 | |||||||||||||||||||
Education Mr. Beaudoin earned a Mineral Processing degree at Abitibi-Temiscamingue College in 1984 and an Advanced Executive Certificate in Management at Queen’s University in 2016. | |||||||||||||||||||
Expertise and Qualifications A mineral processing professional with 40 years of extractive industry experience, Mr. Beaudoin brings substantial international operating and project development and management experience, including from his prior work as Chief Operating Officer of SilverCrest Metals Inc. where he led the technical studies, construction and ramp-up of the Las Chispas mine. | |||||||||||||||||||
| Current and Former CEO/Group Executive | | Strategy Development and Execution | | Extractive or Cyclical Industry | ||||||||||||||
| Project Development/ Management | | Environmental, Health, Safety and Community Matters | | Culture | ||||||||||||||
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Proposal No. 1: Election of Directors | |
![]() AGE: 49 INDEPENDENT DIRECTOR SINCE: 2023 COMMITTEE MEMBERSHIPS: • Audit • Environmental, Health, Safety and Corporate Responsibility • Nominating and Corporate Governance | Paramita Das | ||||||||||||||||||
Experience • Former Global Head of Marketing, Development and ESG (Chief Marketing Officer), Metals and Minerals of Rio Tinto, a global mining group, from June 2022 through February 2024; President of Rio Tinto Nickle Inc., President and CEO of Alcan Primary Products Company, LLC and Member of the Board of Directors of Rio Tinto Services Inc. from July 2019 through September 2023; General Manager, Marketing and Development, Metals and Head of the Chicago Commercial Office, Rio Tinto from January 2018 to May 2022; Chief of Staff/Group Business Executive to the Rio Tinto Group CEO from December 2016 to December 2017 | |||||||||||||||||||
• Director of Toromont Industries, Ltd., a specialized equipment company that is one of the world’s largest Caterpillar dealers, since November 2024 | |||||||||||||||||||
• Director of Genco Shipping & Trading Limited, a drybulk shipowner focused on global transportation of commodities, since March 2024 | |||||||||||||||||||
• Former Chief Strategy Officer and Senior Advisor to the Chief Executive Officer of Stardust Power Inc., a manufacturer of battery-grade lithium products from September 2024 to November 2025 | |||||||||||||||||||
• Former Board member of: World Business Chicago from January 2020 to January 2022; Chicago Children’s Museum from June 2019 to June 2021; and UN Women – USNC from 2014 to 2017 | |||||||||||||||||||
Education Ms. Das earned a bachelor’s degree in Architectural Engineering from Guru Govind Singh Indraprastha University in 2001, a Master of Business Administration in 2004 from the University of Louisville and completed additional post-graduate studies in Strategy and Finance at the University of Chicago Booth School of Business in 2010 and 2014. | |||||||||||||||||||
Expertise and Qualifications Ms. Das brings to the Board significant leadership and strategic planning experience in the extractive resources industry through her former positions with Rio Tinto. Ms. Das is an active leader on gender equality and issues affecting women and children. She has worked extensively with forums like UN Women and diversity platforms like Ascend. Ms. Das is an active speaker by invite on topics related to corporate responsibility, blockchain, diversity, supply chains and digital and business transformation. | |||||||||||||||||||
| Current and Former CEO/Group Executive | | Strategy Development and Execution | | Extractive or Cyclical Industry | ||||||||||||||
| U.S. Public Company Board Service | | Human Capital Management | | Technology/Cyber Security | ||||||||||||||
| Environmental, Health, Safety and Community Matters | | Culture | ||||||||||||||||
18 • COEUR MINING 2026 Proxy Statement |
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Proposal No. 1: Election of Directors | |
![]() AGE: 57 INDEPENDENT DIRECTOR SINCE: 2026 COMMITTEE MEMBERSHIPS: • N/A | Patrick Godin | ||||||||||||||||||
Experience • President and Chief Executive Officer and a Director of New Gold Inc., a mining company acquired by the Company in March 2026, from November 2022 until March 2026 | |||||||||||||||||||
• Vice President and Chief Operating Officer of Pretium Resources Inc., an operator of gold and precious metal properties in British Columbia from July 2020 to March 2022, during which time he was responsible for the operations of the Brucejack Mine | |||||||||||||||||||
• President and Chief Executive Officer of Stornoway Diamond Corporation from January 2019 to July 2020, and its Chief Operating Officer and Vice President from 2010 to 2018 | |||||||||||||||||||
• Former Vice President, Project Development for G Mining Services and held executive or senior operations positions for Canadian Royalties, IAMGOLD and Cambior Inc. | |||||||||||||||||||
Education Mr. Godin earned a Bachelor of Engineering degree in Mining from Laval University in Quebec, Canada and obtained the ICD.D designation from the Institute of Corporate Directors in 2010. | |||||||||||||||||||
Expertise and Qualifications As former President and Chief Executive Officer of New Gold, Mr. Godin brings in-depth knowledge of strategy development, operational management and industry insights. With over 30 years of corporate, technical and operations experience in the mining industry, Mr. Godin has leadership, risk management and cyclical business experience. | |||||||||||||||||||
| Current and Former CEO/Group Executive | | Strategy Development and Execution | | Extractive or Cyclical Industry | ||||||||||||||
| Project Development/ Management | | Human Capital Management | | Culture | ||||||||||||||
| Environmental, Health, Safety and Community Matters | ||||||||||||||||||
COEUR MINING 2026 Proxy Statement • 19 |
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Proposal No. 1: Election of Directors | |
![]() AGE: 71 INDEPENDENT DIRECTOR SINCE: 2022 COMMITTEE MEMBERSHIPS: • Environmental, Health, Safety and Corporate Responsibility – Chair • Compensation and Leadership Development | Jeane L. Hull | ||||||||||||||||||
Experience • Director of Hudbay Minerals Inc. since June 2023, Wheaton Precious Metals Corp. since May 2023, and Eprioc AB since January 2018 | |||||||||||||||||||
• Former member of the Boards of Directors of Copper Mountain Mining Corp. from April 2022 to June 2023, Interfor Corporation from May 2014 to May 2023, Trevali Mining Corporation from January 2021 to September 2022, Pretium Resources Inc. from November 2019 to March 2022 and Cloud Peak Energy Inc. from July 2016 to October 2019 | |||||||||||||||||||
• Served on the Advisory Board for South Dakota School of Mines and Technology for over ten years | |||||||||||||||||||
• Former Executive Vice President and Chief Technical Officer at Peabody Energy from 2011 to 2015. Prior to joining Peabody Energy in 2007, she held numerous management, engineering and operations positions with Rio Tinto and its affiliates, lastly as Chief Operating Officer of the Kennecott Utah Copper mine | |||||||||||||||||||
Education Ms. Hull earned a Bachelor of Science (Civil Eng.) from South Dakota School of Mines and Technology and a Master of Business Administration from Nova Southeastern University. | |||||||||||||||||||
Ms. Hull received an Honorary Doctorate of Public Service from South Dakota School of Mines and Technology in 2024. | |||||||||||||||||||
Expertise and Qualifications Ms. Hull brings a wealth of operational leadership and engineering experience, as well as experience on public company boards, with project development/management and with cyclical businesses, most notably through her experiences as Chief Operating Officer at Rio Tinto’s Kennecott Utah Copper mine and Executive Vice President and Chief Technical Officer of Peabody Energy Corporation. | |||||||||||||||||||
| Current and Former CEO/Group Executive | | Extractive or Cyclical Industry | | Project Development/ Management | ||||||||||||||
| Environmental, Health, Safety and Community Matters | | U.S. Public Company Board Service | | Technology/Cyber security | ||||||||||||||
| Culture | ||||||||||||||||||
20 • COEUR MINING 2026 Proxy Statement |
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Proposal No. 1: Election of Directors | |
![]() AGE: 54 DIRECTOR SINCE: 2011 COMMITTEE MEMBERSHIPS: • Executive – Chair | Mitchell J. Krebs | ||||||||||||||||||
Experience • Chairman, President and Chief Executive Officer of Coeur Mining, Inc. Mr. Krebs joined Coeur in 1995 after spending several years in the investment banking industry in New York, holding various positions in corporate development, including Senior Vice President of Corporate Development for the Company. In March 2008, Mr. Krebs was named Chief Financial Officer, a position he held until being appointed President and CEO in July 2011. In May 2024, Mr. Krebs was appointed as Chairman of the Board of Directors | |||||||||||||||||||
• Former Chairman of the National Mining Association from September 2022 to September 2024 | |||||||||||||||||||
• Former member of the Board of Directors of Kansas City Southern Railway Company from May 2017 to April 2023 | |||||||||||||||||||
• Executive Committee member and past President of The Silver Institute | |||||||||||||||||||
Education Mr. Krebs earned a Bachelor of Science in Economics from the Wharton School at the University of Pennsylvania and a Master of Business Administration from Harvard University. | |||||||||||||||||||
Expertise and Qualifications Mr. Krebs brings leadership, industry, capital markets, mergers & acquisitions, and strategic planning experience to the Board, as well as in-depth knowledge of Coeur through the various high-level management positions he has held with the Company over the years. | |||||||||||||||||||
| Current and Former CEO/Group Executive | | Finance/ Accounting | | Strategy Development and Execution | ||||||||||||||
| Extractive or Cyclical Industry | | Project Development/ Management | | Capital Markets Transactions | ||||||||||||||
| U.S. Public Company Board Service | | Government Affairs, Regulatory and Legal | | Human Capital Management | ||||||||||||||
| Environmental, Health, Safety and Community Matters | | Culture | ||||||||||||||||
COEUR MINING 2026 Proxy Statement • 21 |
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Proposal No. 1: Election of Directors | |
![]() AGE: 80 INDEPENDENT DIRECTOR SINCE: 2018 COMMITTEE MEMBERSHIPS: • Audit • Environmental, Health, Safety and Corporate Responsibility | Eduardo Luna | ||||||||||||||||||
Experience • Non-Executive Chairman of the Board of Directors of Rochester Resources Ltd., a junior natural resources company with assets in Mexico, since March 2018 (and various roles with the company prior to that time) | |||||||||||||||||||
• Lead Director of Vizsla Silver Corp., a junior natural resources company with assets in Mexico, since September 2025, and a Director since November 2023 | |||||||||||||||||||
• Former member of the Board of Directors of Wheaton Precious Metals Corp., a precious metals streaming company, from June 2004 to May 2023; Chairman of the Board of Directors from 2004 to 2009; interim Chief Executive Officer from October 2004 to April 2006; and Executive Vice President from 2002 to 2005 | |||||||||||||||||||
• Former member of the Board of Directors of DynaResource, Inc., an exploration stage precious metals company, and special advisor to the president of its wholly-owned Mexican subsidiary, from March 2017 to January 2020 | |||||||||||||||||||
• Chairman of the Advisory Board of the Faculty of Mines at the University of Guanajuato | |||||||||||||||||||
• Director of Minas de Bacís, a private mining company with operations in Mexico, since 2018 and director of Avantti Medi Clear, a private company, since 2010 | |||||||||||||||||||
• Former member of the Board of Directors of Primero Mining Corp., a precious metals mining company, from 2008 to 2016, while also holding several senior management roles during that period, including Executive Vice President and President (Mexico), and President and Chief Operating Officer | |||||||||||||||||||
• Executive Vice President of Goldcorp Inc. from March 2005 to September 2007; President of Luismin, S.A. de C.V. from 1991 to 2007 | |||||||||||||||||||
Education Mr. Luna earned a Bachelor of Science in Mining Engineering from Universidad de Guanajuato, a Master of Business Administration from Instituto Tecnologico de Estudios Superiores de Monterrey, and an Advanced Management Degree from Harvard University. | |||||||||||||||||||
Expertise and Qualifications Mr. Luna brings extensive mining industry, executive leadership, public company board, project development/management and cyclical business experience through his roles with Luisman, Goldcorp, Primero and Wheaton, among others, as well as experience with Mexican government relations and regulatory matters, which is particularly valuable to the Company given the significance of the Las Chispas and Palmarejo operations. | |||||||||||||||||||
| Current and Former CEO/Group Executive | | Extractive or Cyclical Industry | | Project Development/ Management | ||||||||||||||
| Government Affairs, Regulatory and Legal | | Culture | ||||||||||||||||
22 • COEUR MINING 2026 Proxy Statement |
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Proposal No. 1: Election of Directors | |
![]() AGE: 66 INDEPENDENT DIRECTOR SINCE: 2026 COMMITTEE MEMBERSHIPS: • Audit | Marilyn Schonberner | ||||||||||||||||||
Experience • Chief Financial Officer of Nexen Energy ULC from 1997 until her retirement in 2018, prior to which time during her 21-year career with Nexen, she also held various other executive roles with responsibility for financial and risk management, audit, human resources, strategic planning and budgeting, supply chain, and information services | |||||||||||||||||||
• Former director of New Gold Inc., a mining company acquired by the Company in March 2026, from June 2017 until the company’s acquisition by Coeur in March 2026, and Chair of the Audit Committee of New Gold from April 2018 until March 2026 | |||||||||||||||||||
• Current member of the Board of Directors of Wheaton Precious Metals Corp., a multinational precious metals streaming company, since March 2018 | |||||||||||||||||||
• Member of the Advisory Board of Heritage Royalty, a Canadian-based operator of oil and gas royalties, since April 2023 | |||||||||||||||||||
• Certified Public Accountant, Certified Management Accountant and a Certified Internal Auditor | |||||||||||||||||||
Education Ms. Schonberner earned a Bachelor of Commerce from the University of Alberta and a Master of Business Administration from the University of Calgary. Ms. Schonberner completed the Senior Executive Development Programme at the London Business School and obtained the ICD.D designation from the Institute of Corporate Directors in 2018. | |||||||||||||||||||
Expertise and Qualifications Ms. Schonberner brings extensive experience in financial and accounting matters, risk management, human capital management and culture, strategy development and execution from her more than 35 years of international experience in the energy and mining sectors, including as a director at New Gold and Wheaton Precious Metals. | |||||||||||||||||||
| Current and Former CEO/Group Executive | | Strategy Development and Execution | | Extractive or Cyclical Industry | ||||||||||||||
| Project Development/ Management | | Capital Markets Transactions | | Human Capital Management | ||||||||||||||
| Finance/Accounting | | Culture | ||||||||||||||||
COEUR MINING 2026 Proxy Statement • 23 |
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Proposal No. 1: Election of Directors | |
![]() AGE: 74 INDEPENDENT DIRECTOR SINCE: 2002 COMMITTEE MEMBERSHIPS: • Compensation and Leadership Development – Chair • Executive • Nominating and Corporate Governance | J. Kenneth Thompson | ||||||||||||||||||
Experience • Lead Independent Director of Coeur Mining, Inc. since May 2024 | |||||||||||||||||||
• President and Chief Executive Officer of Pacific Star Energy LLC, a privately held firm that is a passive holder of oil lease royalties in Alaska, from September 2000 to present, including, from 2004 to present, royalties held by Alaska Venture Capital Group LLC from its prior oil and gas exploration and development activities | |||||||||||||||||||
• Former Chairman of the Board of Pioneer Natural Resources Company, a large independent oil and gas company, where he served as a director from August 2011 to May 2024 | |||||||||||||||||||
• Former Member of the Board of Directors of Alaska Air Group, Inc., the parent corporation of Alaska Airlines, Hawaiian Airlines and Horizon Air, from 1999 until May 2025 | |||||||||||||||||||
• Former Lead Independent Director of Tetra Tech, Inc., an engineering consulting firm, from April 2007 until February 2024 | |||||||||||||||||||
• Executive Vice President of ARCO’s Asia Pacific oil and gas operating companies in Alaska, California, Indonesia, China and Singapore from 1998 to 2000 | |||||||||||||||||||
• President and Chief Executive Officer of ARCO Alaska, Inc., the oil and gas producing division of ARCO based in Anchorage, from June 1994 to January 1998 | |||||||||||||||||||
• Corporate Vice President leading ARCO’s oil & gas research and technology center from 1993 until 1994 which included research in various geoscience disciplines, engineering technologies and environmental sciences. He also had oversight of the Information Technology department, the computing center and IT security | |||||||||||||||||||
• Recognized in 2019 as one of the 100 most influential corporate directors by the National Association of Corporate Directors | |||||||||||||||||||
Education Mr. Thompson earned a Bachelor of Science degree and an honorary professional degree in Petroleum Engineering from the Missouri University of Science & Technology. | |||||||||||||||||||
Expertise and Qualifications Through Mr. Thompson’s various executive positions, including the role of Chief Executive Officer, he brings to the Board leadership, risk management, project development/management, engineering, strategic planning, natural resources/extractive industry and extensive health, safety and environmental experience. Mr. Thompson also has government and regulatory experience through his work in other highly-regulated industries such as the oil and gas, energy, and airline industries, and possesses extensive U.S. public company board experience. Mr. Thompson’s experience in the oil and gas and airline industries also provides extensive understanding of cyclical businesses. | |||||||||||||||||||
| Current and Former CEO/Group Executive | | Strategy Development and Execution | | Extractive or Cyclical Industry | ||||||||||||||
| Project Development/ Management | | U.S. Public Company Board Service | | Capital Markets Transactions | ||||||||||||||
| Environmental, Health, Safety and Community Matters | | Human Capital Management | | Technology/ Cybersecurity | ||||||||||||||
| Culture | ||||||||||||||||||
24 • COEUR MINING 2026 Proxy Statement |
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Proposal No. 1: Election of Directors | |
AUDIT Committee Members Linda L. Adamany, Chair Paramita Das Eduardo Luna Marilyn Schonberner Number of meetings in 2025: 7 | Key Responsibilities | |||||||
Reviewing and reporting to the Board with respect to the oversight of various auditing and accounting matters and related key risks, including: | ||||||||
• | The selection and performance of our independent registered public accounting firm; | |||||||
• | The planned audit approach; | |||||||
• | The nature of all audit and non-audit services to be performed; | |||||||
• | Accounting practices and policies; | |||||||
• | Oversight of the compliance program, including compliance with the Company’s Code and whistleblower reporting framework; | |||||||
• | Oversight of cybersecurity; and | |||||||
• | The performance of the internal audit function. | |||||||
Independence and Financial Literacy | ||||||||
• | The Board has determined that each member of the Audit Committee is independent as defined by the NYSE listing standards and Coeur’s independence standards, which are included as part of Coeur’s Corporate Governance Guidelines, as well as additional, heightened independence criteria under the NYSE listing standards and SEC rules applicable to Audit Committee members. | |||||||
• | The Board has determined that, as a result of their knowledge, abilities, education and experience, Ms. Adamany and Ms. Schonberner each is an Audit Committee Financial Expert (as defined by SEC rules). | |||||||
![]() | Audit Committee Financial Expert |
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Proposal No. 1: Election of Directors | |
COMPENSATION AND LEADERSHIP DEVELOPMENT Committee Members J. Kenneth Thompson, Chair Linda L. Adamany Jeane L. Hull Robert E. Mellor Number of meetings in 2025: 5 | Key Responsibilities | |||||||
• | Approving, together with the other independent members of the Board, the annual compensation of the CEO; | |||||||
• | Approving the annual compensation of the non-CEO executive officers; | |||||||
• | Reviewing and making recommendations to the Board with respect to compensation of the non-employee directors, our equity incentive plans and other executive benefit plans; | |||||||
• | Overseeing risk management of our compensation programs and executive succession planning; | |||||||
• | Overseeing leadership development, including goal development, planning and assessment of progress against executive officers’ individual development goals and plans; and | |||||||
• | Reviewing with management the Company’s HCM strategy and execution, including matters such as corporate culture and inclusion, talent development and retention. | |||||||
Independence | ||||||||
• | The Board has determined that each member of the CLD Committee is independent as defined by the NYSE listing standards and Coeur’s independence standards, which are included as part of Coeur’s Corporate Governance Guidelines, as well as additional, heightened independence criteria under Section 16 rules and the NYSE listing standards applicable to the CLD Committee members. | |||||||
ENVIRONMENTAL, HEALTH, SAFETY AND CORPORATE RESPONSIBILITY Committee Members Jeane L. Hull, Chair Pierre Beaudoin Paramita Das Eduardo Luna Number of meetings in 2025: 4 | Key Responsibilities | |||||||
Reviewing the Company’s EHSCR policies and management systems, as well as the scope of the Company’s potential EHSCR risks and liabilities, including with respect to: | ||||||||
• | Environmental permitting, compliance and stewardship; | |||||||
• | Employee and contractor safety and health; | |||||||
• | Corporate social responsibility and community relations; | |||||||
• | Compliance with EHSCR laws, rules and regulations; | |||||||
• | Oversight of climate risk; and | |||||||
• | Oversight of EHSCR initiatives, including short- and long-term goal setting, data collection, disclosures and reporting frameworks. | |||||||
Independence | ||||||||
• | The Board has determined that each member of the EHSCR Committee is independent as defined by the NYSE listing standards and Coeur’s independence standards, which are included as part of Coeur’s Corporate Governance Guidelines. | |||||||
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Proposal No. 1: Election of Directors | |
EXECUTIVE Committee Members Mitchell J. Krebs, Chair Linda L. Adamany Robert E. Mellor J. Kenneth Thompson Number of meetings in 2025: 0 | Key Responsibilities | |||||||
• | Acting in place of the Board on limited matters that require action between Board meetings. | |||||||
NOMINATING AND CORPORATE GOVERNANCE Committee Members Robert E. Mellor, Chair Linda L. Adamany Paramita Das J. Kenneth Thompson Number of meetings in 2025: 4 | Key Responsibilities | |||||||
• | Identifying and recommending to the Board nominees to serve on the Board; | |||||||
• | Establishing and reviewing Coeur’s Corporate Governance Guidelines; | |||||||
• | Reviewing and making recommendations to the Board and overseeing risk management with respect to corporate governance matters; and | |||||||
• | Overseeing CEO and Board succession planning. | |||||||
Independence | ||||||||
• | The Board has determined that each member of the NCG Committee is independent as defined by the NYSE listing standards and Coeur’s independence standards, which are included as part of Coeur’s Corporate Governance Guidelines. | |||||||
COEUR MINING 2026 Proxy Statement • 27 |
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Proposal No. 1: Election of Directors | |
• | On an annual basis, each director, director nominee and executive officer of the Company completes a detailed questionnaire that requires disclosure of any transaction, arrangement or relationship with us during the last fiscal year in which the director, director nominee or executive officer, or any member of his or her immediate family, had a direct or indirect material interest. |
• | Each director and executive officer is expected to promptly notify our legal department of any direct or indirect interest that such person or an immediate family member of such person had, has or may have in a transaction in which we participate. |
• | Any reported transaction that our legal department determines may qualify as a related person transaction is referred to the NCG Committee. |
• | The Company monitors its accounts payable, accounts receivable and other databases to identify any other potential related person transactions that may require disclosure. |
28 • COEUR MINING 2026 Proxy Statement |
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Proposal No. 1: Election of Directors | |
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Proposal No. 1: Election of Directors | |
160 PROMOTIONS | 357 STEP-CHANGE PROGRESSIONS (TECHNICAL ROLES) | 10 INTERNAL TRANSFERS | ||||||
• | during dedicated discussions on formal Board agendas; |
• | during executive sessions of independent directors only; |
• | through its committees in regard to matters subject to committee oversight (such as the Audit Committee in regard to accounting and internal controls risk management, maintaining a strong compliance program and cybersecurity oversight, the CLD Committee in regard to leadership development and the alignment of compensation programs with long-term strategy and value-creation, the EHSCR Committee in regard to corporate responsibility initiatives, and the NCG Committee in regard to Board composition and refreshment and maintaining peer-leading corporate governance practices); and |
• | through one-on-one discussions between independent directors and with the CEO to leverage individual directors’ individual perspectives and experiences by applying them to the Company’s particular strategic opportunities and challenges. |

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Proposal No. 1: Election of Directors | |
PROTECT | DEVELOP | DELIVER | ||||
Our People, Places, Planet | Quality Resources, Growth, Plans, Talent | Impactful Results Through Teamwork | ||||
1 | For more information about our report on corporate responsibility and sustainability initiatives and strategy, please see our website at https://www.coeur.com/responsibility/. Any standards of measurement and performance made in reference to corporate responsibility initiatives and goals are developing and based on assumptions, and no assurance can be given that any such plan, initiative, projection, goal, commitment, expectation, or prospect can or will be achieved, and the inclusion of information in our report on corporate responsibility matters (as discussed below), or identifying it as material for purposes of such report or assessing our environmental, social and governance initiatives, should not be construed as a characterization of the materiality or financial impact of that information with respect to us or for purposes of any of our SEC filings. Website references included throughout are provided for convenience only, and the contents of websites do not constitute a part of and are not incorporated by reference into this Proxy Statement. Our corporate responsibility initiatives and goals are aspirational and may change. Statements regarding our goals are not guarantees or promises that they will be met. |
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Proposal No. 1: Election of Directors | |

• | Maintaining our peer-leading corporate governance practices; |
• | Increasing disclosures in line with leading disclosure frameworks; |
• | Continuing our efforts towards reducing net intensity of GHG emissions with a focus on securing cost-effective renewable energy at our operations; |
• | Implementing the requirements of the Global Industry Standard on Tailings Management (GISTM) across sites; |
• | Formalizing enterprise-wide water stewardship goals that will guide Coeur’s long-term approach to predictive water management across three pillars: resilience, efficiency and transparency; |
• | Achieving or making progress on other short- and long-term corporate responsibility goals, such as improving the quality of Leadership in the Field interactions, sustaining a low frequency of environmental incidents, and further supporting our biodiversity management; |
• | Providing career progression and unique internal development programs like IMPACT, as described in further detail on page 37, and Advanced IMPACT to invest in, develop high-caliber talent and retain future Company leaders; |
• | Offering synchronous and asynchronous trainings and fostering a workplace that further develops our talent pipeline by making Coeur an attractive place to work for the widest group of qualified people; and |
• | Continuing to engage with stockholders about corporate responsibility issues so that our initiatives, priorities and reporting are aligned with their priorities. |
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Proposal No. 1: Election of Directors | |
• | Metals & Mining Review Top 10 CEO in Mining Industry (2023), Mitchell J. Krebs, Chairman, President and CEO |
• | Finalist for the 2022 CEO/Chairperson of the year, Mitch Krebs, and Corporate Social Responsibility Award, Rising Star Individual Award, Casey Nault, Executive Vice President, General Counsel and Secretary, S&P Global Platts |
• | S&P Global Platts Rising Star (2021), Emilie C. Schouten, Executive Vice President and Chief Human Resources Officer |
• | Crain’s Chicago Notable Leaders in HR List, Ms. Schouten (2020, 2021 and 2022) |
• | National Association of Corporate Directors Directorship 100, Robert E. Mellor (2020), and J. Kenneth Thompson (2019) |
• | Winner of cfi.co, Best Miner Governance, North America (2020) |
• | Winner of the Corporate Secretary Magazine Corporate Governance Awards for Best Proxy Statement in 2020 and 2024 (mid-cap); finalist in 2021, 2022, and 2023 (small-/mid-cap) |
• | Winner of the 2024 Corporate Secretary Magazine Corporate Governance Awards for Best Compliance & Ethics Program (small to mid-cap); finalist in 2020-2023 |
• | Operating responsibly through demonstrated performance that can proudly be shared externally; |
• | Leveraging risk management processes that solidly characterize risks and sustain higher level mitigation controls designed to reduce exposures to manageable levels to avoid harm to the environment; and |
• | Deploying integrated monitoring systems with real time operational status, control limits, and automated controls where feasible to prevent environmental excursions. |
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Proposal No. 1: Election of Directors | |


1 | Source(s): U.S. Department of Labor Mine Safety and Health Administration (MSHA): Metal Operators Mine Safety and Health Statistics. Injuries per 200,000 employee-hours worked. |
2 | Includes both Coeur employees and contract workers. |
3 | MSHA data January to December 2025 (preliminary). |
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Proposal No. 1: Election of Directors | |
PROTECT | DEVELOP | DELIVER | ||||
Our People, Places, Planet Lives our health & safety culture Works with integrity and follows our policies Has courage to raise concerns Respects work environment Leads by example | Quality Resources, Growth, Plans, Talent Pays attention to details Delegates effectively Does what they say they will do Anticipates what may happen and plans for it Takes accountability for actions and mistakes | Impactful Results Through Teamwork Collaborates with other teams Helps others solve problems Listens to other viewpoints Communicates clearly Provides honest and timely feedback | ||||
Conduct Principles | Individual Principles | Teamwork Principles | ||||
1 | For more information about our report on corporate responsibility and sustainability initiatives and strategy, please see our website at https://www.coeur.com/responsibility/. Any standards of measurement and performance made in reference to corporate responsibility initiatives and goals are developing and based on assumptions, and no assurance can be given that any such plan, initiative, projection, goal, commitment, expectation, or prospect can or will be achieved, and the inclusion of information in our report on corporate responsibility matters (as discussed below), or identifying it as material for purposes of such report or assessing our environmental, social and governance initiatives, should not be construed as a characterization of the materiality or financial impact of that information with respect to us or for purposes of any of our SEC filings. Website references included throughout are provided for convenience only, and the contents of websites do not constitute a part of and are not incorporated by reference into this Proxy Statement. Our corporate responsibility initiatives and goals are aspirational and may change. Statements regarding our goals are not guarantees or promises that they will be met. |
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Proposal No. 1: Election of Directors | |

• | Over 35 meetings on succession with site and corporate leaders |
• | Discussions include development planning and workforce planning with site HR Managers & General Managers |
• | Meetings with each functional manager, Vice President and Executive Vice President, with roll-up summary to CEO and ultimately discussion with the Board |
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Proposal No. 1: Election of Directors | |
• | Evaluated our executive officers’ base salaries, annual incentive and long-term incentive compensation, and total direct compensation relative to the competitive market; |
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Proposal No. 1: Election of Directors | |
• | Advised the CLD Committee on executive officer target award levels within the annual and long-term incentive program and, as needed, on actual compensation actions; |
• | Assessed the alignment of our executive compensation levels relative to our compensation philosophy; |
• | Briefed the CLD Committee on executive compensation trends among our peers and the broader industry; and |
• | Evaluated our non-employee director compensation levels and program relative to the competitive market. |
• | Management succession planning and human capital management |
• | Major project execution |
• | Cybersecurity |
• | Corporate responsibility risks |
• | Strategic asset portfolio optimization |
• | Commodity price volatility |
• | Balance sheet management and access to |
• | Public policy and regulatory changes |
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Proposal No. 1: Election of Directors | |
Committee | Oversight Role | |||||||
Audit | • | Reviews with management and the independent auditor compliance with legal and regulatory requirements, with a focus on legal and regulatory matters related to internal controls, accounting, finance and financial reporting and contingent liabilities | ||||||
• | Discusses policies with respect to risk assessment and risk management, and risks related to matters including the Company’s financial statements and financial reporting processes, compliance, and information technology and cybersecurity | |||||||
• | Oversees the process for determining and monitoring the independence of the independent auditor, reviews non-GAAP measures included in the Company’s financial statements, SEC filings, press releases and other investor materials | |||||||
• | Oversees the implementation of new accounting standards and reviews with the independent auditor critical audit matters expected to be described in the independent auditor’s report | |||||||
• | Oversees the Company’s compliance program including compliance with the Company’s Code and whistleblower reporting framework | |||||||
• | Oversees cybersecurity including receiving a report from the Senior Director of Cybersecurity at each regular meeting on cybersecurity emerging risks, strategies, key initiatives, any incidents and training and compliance | |||||||
• | Reviews the internal audit annual plan and reviews the results of the internal audit program, including significant reports to management prepared by internal audit staff and management’s responses thereto | |||||||
CLD | • | Responsible for approving compensation for executive officers that includes performance-based award opportunities that promote retention and support growth and innovation without encouraging or rewarding excessive risk. For a discussion of the CLD Committee’s assessments of compensation-related risks, see “Compensation and Leadership Development Committee Role in Risk” below | ||||||
• | Oversees human capital management matters, including (i) succession planning for executives, including the CEO in conjunction with the NCG Committee, (ii) other executives’ progress against development plans as part of its leadership development oversight scope and (iii) corporate culture and talent development and retention | |||||||
EHSCR | • | Reviews the effectiveness of our corporate responsibility programs and performance, including, but not limited to our compliance with environmental and safety laws and understanding and mitigating the risks associated with the impact of climate change on the Company and its operations | ||||||
• | Reviews our strategies for mitigating material health, safety, environmental and community risks, and trends in related performance data | |||||||
NCG | • | Oversees risks related to our corporate governance, including Board and director performance, Board and CEO succession, and the review of Coeur’s Corporate Governance Guidelines and other governance documents | ||||||
• | Oversees CEO succession planning in conjunction with the CLD Committee | |||||||
• | A comprehensive annual review of the Company’s overall strategic plan, with updates throughout the year; |
• | Ongoing Audit Committee updates from senior management on cybersecurity activities and programs, including quarterly briefing on the Company’s plans and strategies to address cybersecurity threats; |
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Proposal No. 1: Election of Directors | |
• | Periodic reviews of succession plans, as part of its responsibility for leadership succession planning for the Company’s most senior officers, including the CEO; |
• | Review of the Company’s strategic supply chain operations, key risks, and programs to further increase resilience; |
• | Review of the Company’s key legal and compliance risks, including mitigation strategies and compliance priorities; and |
• | Periodic review of Company’s key corporate responsibility risks, such as environmental compliance and stewardship, community relations and social license to operate, culture and inclusion, and compliance and ethics, with more detailed reviews conducted by the relevant committees. |
• | the use of both fixed and variable compensation that rewards both annual and long-term performance; |
• | the balance between long- and short-term incentive programs; |
• | the use of caps or maximum amounts in our incentive programs; |
• | the use of multiple performance metrics under our incentive plans; |
• | a heavier weighting toward overall corporate performance for cash-based incentive plans; |
• | time-based vesting for equity-based awards (including performance share awards) to promote retention and emphasize long-term Company performance; and |
• | strict and effective internal controls. |
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Proposal No. 1: Election of Directors | |
2025 | 2024 | |||||||
Audit Fees1 | $2,097,824 | $1,499,379 | ||||||
Audit-Related Fees | $— | $— | ||||||
Tax Fees | $— | $— | ||||||
All-Other Fees | $— | $— | ||||||
1 | Audit fees were primarily for professional services related to the audits of the consolidated financial statements and internal controls over financial reporting, review of our consolidated financial statements included in our Quarterly Reports on Form 10-Q, comfort letters, consents, and other services related to SEC matters. |
Service | Description | ||||
Audit Services | The annual audit services engagement terms and fees are subject to the specific pre-approval of the Audit Committee. Audit services include the annual financial statement audit, required quarterly reviews, subsidiary audits and other procedures required to be performed by the auditor to form an opinion on our financial statements, and such other procedures including information systems and procedural reviews and testing performed in order to understand and place reliance on the systems of internal control. Other audit services may also include statutory audits or financial audits for subsidiaries and services associated with SEC registration statements, periodic reports and other documents filed with the SEC or used in connection with securities offerings. | ||||
Audit-Related Services | Audit-related services are assurance and related services that are reasonably related to the performance of the audit or review of our financial statements or that are traditionally performed by the independent auditor. Audit-related services are subject to the specific pre-approval of the Audit Committee. Audit-related services include, among others, due diligence services relating to potential business acquisitions/dispositions; accounting consultations relating to accounting, financial reporting or disclosure matters not classified as audit services; assistance with understanding and implementing new accounting and financial reporting guidance from rulemaking authorities; financial audits of employee benefit plans; agreed-upon or expanded audit procedures relating to accounting and/or billing records required to respond to or comply with financial, accounting or regulatory reporting matters; and assistance with internal control reporting requirements. | ||||
Tax Services | Tax services are subject to the specific pre-approval of the Audit Committee. The Audit Committee will not approve the retention of the independent auditor in connection with a transaction the sole business purpose of which may be tax avoidance and the tax treatment of which may not be supported by the Internal Revenue Code and related regulations. | ||||
All Other Services | Pre-approval by the Audit Committee is required for those permissible non-audit services that it believes are routine and recurring services, would not impair the independence of the auditor and are consistent with the SEC’s rules on auditor independence. |
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• | there were no disagreements with management; |
• | it was not aware of any consultations about significant matters that management discussed with other auditors; |
• | no major issues were discussed with management prior to Grant Thornton LLP’s retention; |
• | it received full cooperation and complete access to our books and records; |
• | it was not aware of any material fraud or likely illegal acts as a result of its audit procedures; |
• | there were no material weaknesses identified in its testing of our internal control over financial reporting; and |
• | there were no known material misstatements identified in its review of our interim reports. |
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What am I voting for? | ||
![]() | The Board of Directors recommends a vote FOR the appointment of Grant Thornton LLP. | ||

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What am I voting for? | ||
![]() | The Board of Directors recommends a vote FOR the amendment to the Company’s Certificate of Incorporation to limit the liability of certain officers. | ||

• | claims brought by the Company itself; |
• | claims brought by stockholders in the name of the Company, such as derivative claims; |
• | claims involving any breach of the duty of loyalty to the Company or its stockholders; |
• | claims involving any acts or omissions not made in good faith or which involve intentional misconduct or knowing violations of the law; or |
• | claims involving transactions from which the covered officer derived an improper personal benefit. |
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Proposal No. 3: Approval of an Amendment to the Company’s Certificate of Incorporation to Limit the Liability of Certain Officers as Permitted by Law | |
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Name | Age | Current Position with Coeur | Since1 | Joined Coeur | ||||||||||
Mitchell J. Krebs | 54 | Chairman of the Board, President & Chief Executive Officer | 2024 | 1995 | ||||||||||
Thomas S. Whelan | 56 | Executive Vice President & Chief Financial Officer | 2019 | 2019 | ||||||||||
Michael Routledge | 55 | Executive Vice President & Chief Operating Officer | 2020 | 2020 | ||||||||||
Casey M. Nault | 54 | Executive Vice President, General Counsel & Secretary | 2015 | 2012 | ||||||||||
Aoife McGrath | 49 | Executive Vice President, Exploration | 2022 | 2022 | ||||||||||
Emilie C. Schouten | 47 | Executive Vice President & Chief Human Resources Officer | 2023 | 2013 | ||||||||||
Kenneth J. Watkinson | 57 | Vice President, Corporate Controller & Chief Accounting Officer | 2018 | 2013 |
1 | Indicates the date of the executive’s last significant change in functional title. Mr. Krebs, Mr. Nault and Ms. Schouten have served as Company executives since 2006, 2012 and 2016, respectively, as detailed in the biographies below. |
![]() AGE: 54 | Mitchell J. Krebs | ||||||
• Mitchell J. Krebs was appointed President, Chief Executive Officer and member of the Board of Directors of Coeur Mining, Inc. in July 2011. In May 2024, he was appointed Chairman of the Board of Directors. Prior to becoming CEO, Mr. Krebs served as Senior Vice President and Chief Financial Officer from March 2008 to July 2011, as Treasurer from July 2008 to March 2010, as Senior Vice President, Corporate Development from May 2006 to March 2008, and as Vice President, Corporate Development from February 2003 to May 2006. | |||||||
• Mr. Krebs joined Coeur in August 1995 as Manager of Acquisitions after spending two years as an investment banking analyst for PaineWebber Inc. | |||||||
• Mr. Krebs is the former Chair of the National Mining Association and a past President of The Silver Institute. He served as a member of the board of directors of Kansas City Southern Railway Company from May 2017 to April 2023. | |||||||
• Mr. Krebs holds a Bachelor of Science in Economics from The Wharton School at the University of Pennsylvania and a Master of Business Administration from Harvard University. | |||||||
![]() AGE: 56 | Thomas S. Whelan | ||||||
• Thomas S. Whelan was appointed Executive Senior Vice President and Chief Financial Officer in January 2019 and elevated to Executive Vice President in February 2026. | |||||||
• Mr. Whelan previously served as CFO of Arizona Mining Inc., a mineral exploration company, from September 2017 to August 2018, when the company was acquired by South32 Limited. Previously, Mr. Whelan served as CFO for Nevsun Resources Ltd., a Canadian mining company, from January 2014 to August 2017. | |||||||
• Mr. Whelan has served as a member of the board of directors of Highlander Silver Corp., a precious metals exploration company, since October 2024. | |||||||
• Mr. Whelan is a chartered professional accountant and was previously a partner with the international accounting firm Ernst & Young LLP where he was the firm’s Global Mining & Metals Assurance sector leader, the leader of the firm’s Assurance practice in Vancouver and previously the firm’s Canadian Mining & Metals sector leader. | |||||||
• Mr. Whelan holds a Bachelor of Commerce from Queen’s University. | |||||||
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Information about our Executive Officers | |
![]() AGE: 55 | Michael Routledge | ||||||
• Michael Routledge was appointed Executive Senior Vice President and Chief Operating Officer in June 2020 and elevated to Executive Vice President in February 2026. | |||||||
• Mr. Routledge has over 25 years’ experience with Rio Tinto Group, a multinational metals and mining corporation, in various roles beginning in 1987, including as the Chief Operating Officer (2011-2012) and Vice President HSE, Projects & Operational Value (2012-2014) of the Kennecott Utah Copper business. He also served as the Chief Operating Officer of Asahi Refining, a provider of precious metal assaying, refining and bullion products, from 2015 to 2017. He served as Senior Director of Operational Excellence from 2017 to January 2020 at Anagold Madencilik, a subsidiary of Alacer Gold Corp., a gold producer which merged with SSR Mining Inc. in the fall of 2020, Most recently, Mr. Routledge served as the Vice President of Major Projects and Studies of Alacer Gold Corp. from February 2020 to May 2020 when he accepted his current position with Coeur. | |||||||
• Mr. Routledge received an undergraduate degree from the University of Sunderland, England in Electrical and Control Engineering and a Master of Business Administration with a focus on business and strategic transformation from Henley Management College in England. | |||||||
![]() AGE: 54 | Casey M. Nault | ||||||
• Casey M. Nault was appointed Senior Vice President, General Counsel and Secretary in January 2015, with his overall scope of responsibility expanding to include other functional areas, including corporate responsibility, since that time. In February 2026 he was elevated to Executive Vice President. Mr. Nault was appointed as Vice President and General Counsel upon joining Coeur in April 2012 and was appointed Secretary in May 2012. | |||||||
• Mr. Nault has almost 30 years of experience as a corporate and securities lawyer, including prior in-house positions with Starbucks Corporation and Washington Mutual, Inc., as well as law firm experience with Gibson, Dunn & Crutcher. His legal experience includes securities compliance and SEC reporting, corporate governance and compliance, mergers and acquisitions, public and private securities offerings and other strategic transactions, general regulatory compliance, cross-border issues, land use and environmental issues, and overseeing complex litigation and internal investigations. In addition to leading the legal function, Mr. Nault also has executive responsibility for several other corporate functions including compliance, corporate responsibility, internal audit, government affairs and land management. | |||||||
• Mr. Nault has a B.A. in Philosophy from the University of Washington and a law degree from the University Southern California Law School. | |||||||
![]() AGE: 49 | Aoife McGrath | ||||||
• Aoife McGrath was appointed Senior Vice President, Exploration in 2022 and elevated to Executive Vice President in February 2026. | |||||||
• Ms. McGrath has extensive experience in the international mining sector. Throughout her 25 years of experience, she has worked and led teams in Africa, North America, South America and Europe, with her experience spanning the full spectrum of company size and stages of exploration, from craton-scale generative projects to greenfields work and reserve drilling to mine geology. From June 2020 to February 2022, Ms. McGrath served as Vice President of Exploration for the Africa and Middle East region at Barrick Gold Corporation, a mining company that produces gold and copper. Prior to that, she served as Head of Exploration and Geology for Beadell Resources Limited as well as Vice President of Exploration for Alamos Gold Inc. from October 2013 to June 2018. | |||||||
• Ms. McGrath holds a Bachelor of Science from University College Dublin, a Master of Science in Mineral Exploration from the University of Leicester and a Master of Science in Engineering Geology from Imperial College London. | |||||||
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Information about our Executive Officers | |
![]() AGE: 47 | Emilie C. Schouten | ||||||
• Emilie C. Schouten was appointed Senior Vice President and Chief Human Resources Officer in May 2023, and prior to that, served as Senior Vice President, Human Resources since May 2018. In February 2026 she was elevated to Executive Vice President. She previously served as Vice President, Human Resources from May 2016 to May 2018 and as Director of Talent Acquisition and Development from May 2013 to May 2016. | |||||||
• Ms. Schouten has over 20 years of experience in Human Resources, starting her career in General Electric, where she graduated from GE’s Human Resources Leadership Program. After 6 years as a Manager of HR with GE, her division was acquired by the world’s largest electrical distribution company, Rexel, and Ms. Schouten went on to become the Director of Training and Development. | |||||||
• Ms. Schouten earned a Bachelor of Arts in Sociology from Michigan State University and a Master of Science in Industrial Labor Relations from the University of Wisconsin-Madison. | |||||||
![]() AGE: 57 | Kenneth J. Watkinson | ||||||
• Kenneth J. Watkinson was appointed Vice President, Corporate Controller and Chief Accounting Officer in January 2018. He was previously named Vice President, Corporate Controller in March 2017 and served as Director of Financial Reporting from September 2013 to March 2017. | |||||||
• Mr. Watkinson came to Coeur from HSBC North America where he managed SEC reporting for HSBC USA, Inc. He previously served as Senior Manager of SEC Reporting for Baxter International Inc. and as Manager of Consolidations and Reporting for Kraft Foods, Inc. | |||||||
• Mr. Watkinson is a Certified Public Accountant and holds a Bachelor of Science in Accounting from Northeastern Illinois University. | |||||||
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Stockholder | Shares Beneficially Owned | Percent of Outstanding | ||||||
Van Eck Associates Corporation | 66,164,3641 | 10.3% | ||||||
The Vanguard Group, Inc. | 58,212,6762 | 9.0% | ||||||
BlackRock, Inc. | 36,307,7203 | 5.7% | ||||||
Mitchell J. Krebs | 2,149,517 | * | ||||||
Robert E. Mellor | 292,364 | * | ||||||
J. Kenneth Thompson | 282,333 | * | ||||||
Linda L. Adamany | 244,928 | * | ||||||
Pierre Beaudoin | 142,652 | * | ||||||
Eduardo Luna | 107,0884 | * | ||||||
Paramita Das | 82,167 | * | ||||||
Jeane L. Hull | 11,4734 | * | ||||||
Patrick Godin | 05 | * | ||||||
Marilyn Schonberner | 05 | * | ||||||
Thomas S. Whelan | 667,7746 | * | ||||||
Casey M. Nault | 550,086 | * | ||||||
Michael Routledge | 512,512 | * | ||||||
Aoife McGrath | 184,018 | * | ||||||
All current executive officers, directors and director nominees as a group (16 persons) | 5,796,105 | 0.90% | ||||||
* | Holding constitutes less than 1% of the outstanding shares on March 6, 2026 of 641,880,741. |
1 | As of December 31, 2025, based on information contained in a Schedule 13G/A filed on February 13, 2026, Van Eck Associates Corporation had sole voting power over 65,923,623 shares and sole dispositive power over 66,164,364 shares. The shares are held within mutual funds and other client accounts managed by Van Eck Associates Corporation, none of which individually owns more than 5% of the outstanding shares. The address for Van Eck Associates Corporation is 666 Third Ave. 9th Floor, New York, New York 10017. |
2 | As of December 31, 2025, based on information contained in a Schedule 13G/A filed on January 29, 2026, The Vanguard Group, Inc. had sole voting power over zero shares, shared voting power over 5,179,405 shares, sole dispositive power over zero shares and shared dispositive power over 58,212,676 shares. The address for the Vanguard Group, Inc. is 100 Vanguard Blvd., Malvern, PA 19355. |
3 | As of December 31, 2023, based on information contained in a Schedule 13G/A filed on January 24, 2024, Blackrock, Inc. had sole voting power over 35,027,816 shares and sole dispositive power over 36,307,720 shares. The address for Blackrock, Inc. is 50 Hudson Yards, New York, NY 10001. |
4 | Excludes 84,705 and 34,129 deferred stock units (“DSU”) for Ms. Hull and Mr. Luna, respectively. Each DSU represents a right to receive one share of Company common stock, which will be delivered on the 60th day after separation from Board service. |
5 | Mr. Godin and Ms. Schonberner did not hold Coeur stock as of March 6, 2026, but each received shares of Coeur common stock upon their appointment to Coeur’s Board in March 2026 as prorated annual common stock/deferred stock unit retainers. Mr. Godin also received 143,836 shares of Coeur common stock upon the completion of the New Gold acquisition in exchange for the shares of New Gold Inc. common stock he held previously, in accordance with the terms of the arrangement agreement governing the transaction. |
6 | Includes 6,000 shares held in a college savings plan for Mr. Whelan’s daughter. |
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Compensation Discussion and Analysis | ||||||||
IN THIS SECTION | ||||||||
51 | CD&A Summary | |||||||
51 | Who We Are | |||||||
51 | Our Strategy | |||||||
51 | 2025 Macroeconomic Environment | |||||||
53 | Company Performance | |||||||
54 | Alignment of 2025 Compensation | |||||||
56 | Our Executive Compensation Program | |||||||
56 | Executive Compensation Program Philosophy | |||||||
57 | 2025 Direct Compensation Elements | |||||||
59 | 2025 Total Direct Compensation Targets | |||||||
59 | Results of 2025 Stockholder Advisory Vote on Named Executive Officer Compensation | |||||||
59 | Competitive Market Assessment | |||||||
59 | 2025 Peer Group | |||||||
60 | 2025 Executive Compensation – Realized and Realizable Pay | |||||||
61 | 2025 Executive Compensation Results | |||||||
61 | Base Salary | |||||||
62 | Annual Incentive Plan | |||||||
65 | Long-Term Equity Incentive Awards | |||||||
67 | Payouts for 2023-2025 Performance Shares | |||||||
69 | Benefits and Perquisites | |||||||
69 | Termination of Employment/Severance and Change-in-Control Arrangements | |||||||
70 | Other Compensation Arrangements and Policies | |||||||
70 | Stock Ownership Guidelines | |||||||
70 | Insider Trading and Hedging Policy | |||||||
71 | Clawback and Forfeiture Policy | |||||||
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![]() Mitchell J. Krebs Chairman, President and Chief Executive Officer | ![]() Thomas S. Whelan Executive Vice President and Chief Financial Officer | ![]() Michael Routledge Executive Vice President and Chief Operating Officer | |||||||||
![]() Casey M. Nault Executive Vice President, General Counsel and Secretary | ![]() Aoife McGrath Executive Vice President, Exploration | ||||||||||
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Compensation Discussion and Analysis | |

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Compensation Discussion and Analysis | |
During 2025, the Company continued to operate safely and responsibly, achieved strong production levels, successfully advanced the key strategic initiative of integrating the Las Chispas operation into our portfolio following the acquisition of SilverCrest Metals Inc., and maintained disciplined performance in cost control efforts. We also announced the acquisition of New Gold Inc., which closed in March 2026, and furthered our peer-leading exploration investment strategy, which resulted in impressive reserve and resource additions. Our performance is further highlighted below. | Strong performance across our diversified, North American asset base led to Coeur’s achievement of record full-year silver and gold production | |||
2025 Highlights | |||||
CONTINUED STRONG ENVIRONMENTAL HEALTH & SAFETY RESULTS AND LEADERSHIP | Coeur continued to achieve strong results in safety and environmental performance. According to MSHA data, Coeur once again ranked first among its peers for U.S. employee TRIFR in 2025. We advanced our water stewardship strategy and the implementation of the requirements of the Global Industry Standard on Tailings Management across our sites. | ||||
STRONG OPERATIONAL PERFORMANCE | Coeur achieved record full-year production for both gold and silver, producing 419,046 gold ounces and 17.9 million silver ounces, which were 23% and 57% year-over-year increases in gold and silver production, respectively. | ||||
IMPRESSIVE FINANCIAL PERFORMANCE | The Company achieved record full-year free cash flow, adjusted EBITDA and earnings, while cash increased more than tenfold to $554M at year end. | ||||
RESOURCE EXPANSION AND MINE LIFE EXTENSION | The 2025 exploration program drove significant growth in reserves and resources across our portfolio. Proven and probable gold reserves increased 65% at Wharf at year-end 2025, leading to a near doubling of Wharf’s mine life to 12 years. Gold proven and probable mineral reserves increased 9% in Kensington. At Palmarejo, silver and gold proven and probable resources increased 40% and 36%, respectively, with an 86% increase in inferred resources. | ||||
INTEGRATION OF LAS CHISPAS FOLLOWING SILVERCREST ACQUISITION | The Company completed its acquisition of SilverCrest Metals Inc. in February 2025, adding the high-grade, low-cost Las Chispas silver-gold mine in Sonora, Mexico to its portfolio. Management successfully integrated the operation following transaction closing, helping to drive significant expansion to the Company’s consolidated production and record performance on several key financial metrics. |
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As highlighted below, the results of our executive compensation programs for 2025 and the three-year period ended December 31, 2025 were aligned with our operational and financial performance and stockholder returns. | ||||
Strong gold production and costs, safety and environmental performance, integration of Las Chispas and exploration success, partially offset by below-target performance on silver production and costs, drove a 133% corporate AIP score and 166% payout for three-year PSUs | ||||
2025 Performance | 2025 Compensation Result | |||||||
Actual Pay Compared to Target | • 2025 gold production was above target while silver production was below target. Overall safety and environmental performance for the year was strong, exceeding stretch goals on all AIP measures other than TRIFR, which increased slightly year-over-year despite once again being best among U.S. companies according to MSHA data. 2025 gold costs per ounce were significantly lower than target, while silver costs per ounce were slightly higher than target driven by below-target silver production. Our overall production and cost performance was strong and led to adjusted EBITDA slightly above target. Performance on the key strategic initiative of integrating Las Chispas was well above target • For the three-year period ended December 31, 2025, we achieved above-target growth in overall reserves and resources driven by solid results from our five operations, and performed in the top quartile on relative total stockholder return compared to the peer group, partially offset by below-target ROIC for the period | • 2025 Corporate AIP payout of 133% of target • Three-year PSUs paid out at 166% of target | ||||||
LTIP – Performance Shares (60% of LTIP award) | • Above-target overall performance • 28% performance for three-year ROIC, compared to a target of 37.3% • Added 2.6M AuEq ounces of proven and probable reserves, compared to a target of 1.0M ounces • Added 3.0M AuEq ounces of inferred resources, compared to a target of 1.9M ounces | • 166% of target overall payout of PSU award for the 2023-2025 performance period • 65% of target payout of PSUs linked to three-year ROIC (50% weighting) • 200% of target payout of PSUs linked to reserve and resource growth, respectively (25% weighting for each) • Multiplied sub-total performance of 132.5% by 125% due to top quartile rTSR performance compared to peers | ||||||
LTIP – Restricted Shares (40% of LTIP award) | • 212% one-year stock price increase in 2025 | • Restricted shares vesting over three years granted in 2025 constituted 40% of the total LTIP award to NEOs; realizable value directly aligned with long-term stockholder value |
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2025 Performance | 2025 Compensation Result | |||||||
AIP | • Strong overall safety and environmental performance, strong gold production and costs, lower silver production and higher silver costs than planned, slightly higher adjusted EBITDA than planned, and achievement of the key strategic initiative of the integration of Las Chispas following the SilverCrest acquisition | • 133% of target overall payout on corporate AIP objectives | ||||||
• Strong safety and environmental performance on key measures included in 2025 AIP EHS scorecard: maximum performance on Lost Time Severity Score (LTSS) and increased Leadership in the Field interactions; below-target performance on key safety incident rate (TRIFR) based on very aggressive targets despite best employee TRIFR among peers at U.S. mines according to MSHA data. Zero high-severity environmental releases or excursions drove maximum performance on environmental measures | • 160% of target payout overall for environmental and safety performance (20% weighting) | |||||||
• Gold production was above target while silver production was below target | • 115% and 79% of target payout, respectively, for gold and silver production (20% weighting split pro rata for gold and silver revenue contribution, or 13% weighting for gold and 7% for silver) | |||||||
• Gold CAS were significantly lower than target, while silver CAS performance was slightly higher than target | • 144% and 98% of target payout, respectively, for gold CAS and silver CAS (20% weighting split pro rata for gold and silver revenue contribution, or 13% weighting for gold and 7% for silver) | |||||||
• Adjusted EBITDA at 101% of target, driven by overall strong production and cost performance | • 104% of target payout for adjusted EBITDA (20% weighting) | |||||||
• Strong execution on the strategic initiative of integration of Las Chispas | • 171% of target payout for strategic initiatives (20% weighting) |
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Compensation Discussion and Analysis | |
What We Do | |||||
• Pay for performance with strong alignment of realizable pay to TSR • Proactive stockholder outreach with meaningful compensation program changes made based on feedback • Differentiated metrics across AIP and LTIP • AIP metrics drive stockholder value, with rigorous goals tied to Board-approved budget, key strategic initiatives and safety and environmental objectives • Majority of equity compensation in the form of performance shares with three-year cliff vesting tied to rigorous strategically aligned and value-driving internal performance metrics and relative TSR • Majority of compensation “at-risk” | • Independent compensation consultant • Modest perquisites • “Double trigger” equity acceleration upon a change-in-control • Peer-leading stock ownership guidelines for our directors and executive officers, including 6x base salary for CEO (the guidelines do not count unvested performance shares) • Clawback policy covering both financial restatements and misconduct and applying to annual incentive payouts along with both time-based and performance-based equity awards • Annual stockholder “say on pay” vote • 100% of CEO AIP based on Company goals | ||||
What We Do Not Do | |||||
• No hedging Coeur stock • No pledging Coeur stock • No excise tax gross-ups, tax gross-ups on perquisites or tax gross-ups applicable to change-in-control and severance payments | • No holding Coeur stock in margin accounts • No employment contracts for NEOs other than CEO • No re-pricing of stock options or SARs without stockholder approval • No “single trigger” cash severance based solely upon a change-in-control of the company | ||||
• | Drive performance against critical strategic goals designed to create long-term stockholder value |
• | Pay our executives at a level and in a manner that attracts, motivates and retains top executive talent |
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• | Corporate employees support the goals and objectives of our NEOs and participate in the AIP with the same metrics as our NEOs, along with an individual performance component. |
• | Leadership and managers at our operations participate in the AIP, modified to promote the achievement of site-specific goals aligned with overall Company strategy, including the execution of key projects and a significant component tied to safety and environmental performance, with those goals and projects forming part of the Company’s broader comprehensive strategy to create long-term stockholder value. |
• | Hourly employees at our operations participate in cash incentive programs designed to drive achievement of core operational performance and site-specific goals, such as production, safety and environmental goals, which are key to our business of producing precious metals safely and responsibly. |
Compensation Component | Objective | Key Features | ||||||
Base salary | • Provide a fixed base pay for performance of core job responsibilities • Attract and retain highly skilled individuals | • Initial levels and annual adjustments are based on positioning relative to the market and experience of the executive | ||||||
AIP | • Performance-based and “at risk” • Drive achievement of annual goals related to Company financial, operational, environmental, and safety performance and key strategic initiatives • For NEOs other than the CEO, also drive achievement of performance and development goals of the individual executive | • Cash payments based on Company and individual performance, with a high percentage weighted on Company performance (100% in the case of the CEO) to drive alignment with stockholder value | ||||||
LTIP | • Performance-based and “at risk” • Align executive and stockholder interests, drive the creation of long-term stockholder value, attract and retain talented executives | • Mix of 60% performance shares and 40% time vesting restricted stock • Restricted stock vests ratably over three years • Performance shares cliff-vest after a three-year performance period, based on growth in inferred mineral resources and free cash flow per share, and rTSR performance |
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Compensation Discussion and Analysis | |
Direct Compensation Component | Performance Based | Value Linked to Stock Price | Value Not Linked to Stock Price | % of CEO Target Pay | % of NEO Target Pay (Average) | |||||||||||||||
Base Salary | | 18% | 24% | Fixed | ||||||||||||||||
Annual Incentive Plan | | | 23% | 23% | Variable and “at risk” | |||||||||||||||
Restricted Stock | | 24% | 21% | |||||||||||||||||
Three-Year PSUs | | | 36% | 32% |
PROTECT | We are focused on safeguarding the safety and health of our employees, protecting the environments where we operate. | EHS Scorecard | 20% of AIP | ||||||||
Our AlP rewards outstanding health, safety and environmental performance. | |||||||||||
DEVELOP | We endeavor to develop quality resources, grow and enhance our assets, pursue new opportunities, develop and grow our people, and build a solid technical foundation. | Three-Year Growth in Inferred Resources | 25% of PSUs | ||||||||
Our LTIP award structure drives performance against these goals by tying a portion of our performance shares to increases in our inferred resources. In addition, our 2025 AIP Strategic Initiatives component included metrics tied to the successful integration of Las Chispas. | Focus on Key Strategic Initiatives | 20% of AIP | |||||||||
Our AIP encourages development of our executives and employees by rewarding exemplary individual performance and growth. | Individual Component of AIP, except CEO | Varies by NEO | |||||||||
DELIVER | We strive to deliver impactful results through teamwork and act with integrity. | Costs Applicable to Sales | 20% of AIP | ||||||||
Our AIP rewards exemplary performance and impactful results. | Adjusted EBITDA | 20% of AIP | |||||||||
Both our AlP and LTIP reward achievement of operational and financial objectives and creation of long-term stockholder value, tying payouts to achieving production, cost and adjusted EBITDA targets, increasing free cash flow per share and rTSR. | Three-year Growth in Free Cash Flow per Share and rTSR | 75% of PSUs1 | |||||||||
Our Clawback and Forfeiture Policy holds our executives accountable to act with integrity and in accordance with applicable laws in achieving the goals linked to our compensation programs. | Production | 20% of AIP | |||||||||
1 | PSU weighting consists of 25% for Free Cash Flow per Share and 50% for rTSR. |
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Fixed Compensation | Variable Compensation | |||||||||||||
Named Executive Officer | Base Salary | Long-Term Equity Incentives at Target | Annual Incentives at Target | Total Variable at Target | ||||||||||
Mitchell J. Krebs, Chairman, President & Chief Executive Officer | $850,000 | $2,805,000 | $1,062,500 | $3,867,500 | ||||||||||
Thomas S. Whelan, Executive Vice President & Chief Financial Officer | $475,000 | $1,068,750 | $475,000 | $1,543,750 | ||||||||||
Michael Routledge, Executive Vice President & Chief Operating Officer | $525,000 | $1,181,250 | $525,000 | $1,706,250 | ||||||||||
Casey M. Nault, Executive Vice President, General Counsel & Secretary | $425,000 | $956,250 | $425,000 | $1,381,250 | ||||||||||
Aoife McGrath, Executive Vice President, Exploration | $360,000 | $684,000 | $270,000 | $954,000 | ||||||||||
2025 Peer Company | 2024 Revenue1 ($ millions) | Year-End 2024 Market Cap1 ($ millions) | Corporate Headquarters | ||||||||
Alamos Gold Inc. | 1,347 | 7,746 | Canada | ||||||||
B2Gold Corp. | 1,902 | 3,212 | Canada | ||||||||
Centerra Gold Inc. | 1,205 | 1,201 | Canada | ||||||||
Dundee Precious Metals Inc. | 607 | 1,619 | Canada | ||||||||
Eldorado Gold Corporation | 1,323 | 3,033 | Canada | ||||||||
Endeavor Mining plc | 2,676 | 4,418 | United Kingdom | ||||||||
Equinox Gold Corp. | 913 | 2,291 | Canada | ||||||||
First Majestic Silver Corp. | 561 | 1,657 | Canada | ||||||||
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Compensation Discussion and Analysis | |
2025 Peer Company | 2024 Revenue1 ($ millions) | Year-End 2024 Market Cap1 ($ millions) | Corporate Headquarters | ||||||||
Fortuna Mining Corp. | 677 | 1,344 | Canada | ||||||||
Hecla Mining Company | 930 | 3,085 | United States | ||||||||
Hochschild Mining plc | 948 | 1,378 | United Kingdom | ||||||||
IAMGOLD Corporation | 1,633 | 2,950 | Canada | ||||||||
New Gold Inc. | 925 | 1,973 | Canada | ||||||||
OceanaGold Corporation | 1,294 | 1,948 | Canada | ||||||||
Pan American Silver Corp. | 2,819 | 7,366 | Canada | ||||||||
SSR Mining Inc. | 996 | 1,412 | United States | ||||||||
Median: | 1,105 | 2,132 | |||||||||
2024 Revenue1 ($ millions) | Year-End 2024 Market Cap1 ($ millions) | Corporate Headquarters | |||||||||
Coeur Mining, Inc. | 1,054 | 2,284 | United States | ||||||||
1 | Revenues are for the 2024 fiscal year. Market cap is calculated as of December 31, 2024 based on the outstanding shares for each peer publicly disclosed as of the date of calculation. |
• | Restricted stock directly tracks stock price |
• | PSUs directly track stock price, and are further subject to both absolute and relative performance measures |
Target Direct Pay1 | Realized/ Realizable Pay2 | From | To | Value of $100 | ||||||||||||||||
CEO | Stockholder | |||||||||||||||||||
2023 | $4,462,500 | $19,592,844 | January 1, 2023 | December 31, 2025 | $439 | $531 | ||||||||||||||
2024 | $4,462,500 | $17,419,431 | January 1, 2024 | December 31, 2025 | $390 | $547 | ||||||||||||||
2025 | $4,717,500 | $10,570,942 | January 1, 2025 | December 31, 2025 | $224 | $312 | ||||||||||||||
Average | $351 | $463 | ||||||||||||||||||
1 | Total target direct pay includes annualized salary, target AIP, long-term incentive grant of PSUs and restricted stock. Equity valued as at closing stock price for last 60 trading days before the grant date for 2023 ($3.55) and 2024 ($2.93) and for last 20 trading days before the grant date for 2025 ($6.02). |
2 | Realized and realizable pay includes salary, actual AIP paid, and the market value of unvested PSUs and restricted stock (assuming PSUs vest at target for 2024 and 2025 grants, actual of 166% for 2023 cycle). Equity valued as at December 31, 2025 closing stock price of $17.83. |
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Compensation Discussion and Analysis | |

No increases to salaries of NEOs | ||||
Named Executive Officer | 2025 Base Salary | 2024 Base Salary | Percentage Increase | ||||||||
Mitchell J. Krebs, Chairman, President & Chief Executive Officer | $850,000 | $850,000 | 0% | ||||||||
Thomas S. Whelan, Executive Vice President & Chief Financial Officer | $475,000 | $475,000 | 0% | ||||||||
Michael Routledge, Executive Vice President & Chief Operating Officer | $525,000 | $525,000 | 0% | ||||||||
Casey M. Nault, Executive Vice President, General Counsel & Secretary | $425,000 | $425,000 | 0% | ||||||||
Aoife McGrath, Executive Vice President, Exploration | $360,000 | $360,0001 | 0% | ||||||||
1 | Ms. McGrath’s 2024 base salary was adjusted mid-year, resulting in actual base salary earnings in 2024 of $348,333. |
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Compensation Discussion and Analysis | |
2025 AIP: Target Levels Consistent with Market and Experience in Role; No Change in Target Award Opportunity | ||||
Named Executive Officer | Target AIP Opportunity (% of Salary) | ||||
2025 | |||||
Mitchell J. Krebs | 125% | ||||
Thomas S. Whelan | 100% | ||||
Michael Routledge | 100% | ||||
Casey M. Nault | 100% | ||||
Aoife McGrath | 75% | ||||
• | Align with our business objectives and strategic priorities; |
• | Transparency to investors and executives; |
• | Incentivize profitable production growth, not growth for growth’s sake; |
• | Balance financial and operational performance; |
• | Drive execution of important strategic initiatives; and |
• | Reflect our commitment to safe and environmentally responsible operations. |
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Compensation Discussion and Analysis | |
Measure | Weight | Minimum1 | Target1 | Maximum1 | ||||||||||
Production: | 20% | |||||||||||||
Gold Production (ounces) | 13% | 380K | 414K | 442K | ||||||||||
Silver Production (ounces) | 7% | 16.7M | 18.4M | 19.7M | ||||||||||
Costs: | 20% | |||||||||||||
Gold CAS per ounce2 | 13% | $1,390 | $1,290 | $1,190 | ||||||||||
Silver CAS per ounce2 | 7% | $16.23 | $15.09 | $13.92 | ||||||||||
Adjusted EBITDA3 | 20% | $923M | $1,115M | $1,216M | ||||||||||
Strategic Initiative: | 20% | |||||||||||||
SilverCrest Integration4 | 20% | 50% | 100% | 200% | ||||||||||
EHS Scorecard: | 20% | |||||||||||||
Decline in Companywide TRIFR5 | 4% | 0.70 | 0.60 | 0.43 | ||||||||||
Leadership in the Field Interactions6 | 3% | 5,500 | 5,500 | 12,307 | ||||||||||
Lost Time Severity Score7 | 3% | 140 | 128 | 29 | ||||||||||
Environmental Releases (Tier 4-5)8 | 5% | 4 events | 2 events | Zero events | ||||||||||
Environmental Excursions9 | 5% | 4 events | 2 events | Zero events | ||||||||||
1 | Payouts for each measure are 50% for “Minimum”, 100% for “Target” and 200% for “Maximum”. Payouts are interpolated for performance between minimum and target and between target and maximum. |
2 | Our CAS per silver ounce and gold ounce metrics measure performance against a target based on the Board-approved budget set at the beginning of the year. In setting the goal and evaluating performance against it, items that arise during the year that were not contemplated by the budget, including variances between the actual realized metals prices and budget prices and variances in prices of diesel and cyanide, two of our most significant input commodities, whether having a positive or negative impact, are not factored into the calculation in order to ensure a consistent assessment of performance against budget. Please see “Appendix A – Certain Additional Information” for reconciliations of GAAP to non-GAAP financial measures included in this section. |
3 | Our adjusted EBITDA metric measures performance against a target based on the Board-approved budget set at the beginning of the year. In setting the goal and evaluating performance against it, items that arise during the year that were not contemplated by the budget, including variances between actual realized metals prices and budgeted prices, whether having a positive or negative impact, are not factored into the calculation in order to ensure a consistent assessment of performance against budget. |
4 | Contains cross-functional metrics intended to measure various aspects of a successful integration of the Las Chispas operation following our acquisition of SilverCrest Metals Inc. |
5 | Company-wide total reportable injury frequency rate (TRIFR) includes employees and contractors. |
6 | Our Leadership in the Field (LIF) program is the methodology used for risk mitigation and exposure reduction and minimizing risks at our operations by encouraging our workforce to take proactive safety measures. The difference between threshold and target performance, both of which involved at least 5,500 LIF interactions, was the creation of at least 20% higher follow-up actions for target performance. |
7 | Lost time Severity Score is the number of lost workdays per 200,000 employee hours. The Severity Measure formula is number of lost workdays x 200,000 divided by the number of employee hours. |
8 | Tier 4-5 refers to the Environmental Incident Reporting and Investigation Standard for the reporting of incidents and near-miss events based on categorical thresholds for incident investigations; Tier 4-5 refers to events of greater significance. |
9 | Includes permit discharge exceedances and environmental non-conformances. A permit discharge exceedance means an event or upset operational condition where a chemical constituent was discharged in effluent to a receiving water body or other environmental media at a concentration not within a specified numeric concentration in our operating permit. An environmental non-conformance means an event or operational disruption that deviated from a permitted or regulated circumstance that resulted in an externally reportable event. |
• | Major project and operational execution, including strategic transformation and growth |
• | Mitigation of risk |
• | Enhancement of each executive’s responsibilities |
• | Support of Coeur’s values regarding worker safety and health, social, environmental and corporate responsibility |
• | A commitment to the talent development and retention of our employees |
• | Demonstration of Coeur’s leadership principles, personal development and adherence to Company culture and behavior |
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Compensation Discussion and Analysis | |
133% overall achievement due to strong performance on gold production and costs, strategic initiatives and safety and environmental measures, partially offset by silver production and costs | ||||
Metric | 2025 Target | 2025 Performance | Performance (% of target) | Payout (% of target) | Weight | Weighted Payout (% of target) | ||||||||||||||
Production | 20% | 20.5% | ||||||||||||||||||
Gold Production (ounces) | 414K | 419K | 101% | 115% | 13% | 15.0% | ||||||||||||||
Silver Production (ounces) | 18.4M | 17.8M | 97% | 79% | 7% | 5.5% | ||||||||||||||
Costs | 20% | 25.6% | ||||||||||||||||||
Gold CAS per ounce | $1,290 | $1,249 | 97% | 144% | 13% | 18.7% | ||||||||||||||
Silver CAS per ounce | $15.09 | $15.13 | >100% | 98% | 7% | 6.9% | ||||||||||||||
Adjusted EBITDA | $1,115M | $1,119M | >100% | 104% | 20% | 20.9% | ||||||||||||||
Strategic Initiatives | 20% | 34.2% | ||||||||||||||||||
SilverCrest Integration | 100 | 171 | 171% | 171% | 20% | 34.2% | ||||||||||||||
EHS Scorecard | 20% | 32.0% | ||||||||||||||||||
Reduction in Companywide TRIFR | 0.60 | 0.73 | Below threshold | 0% | 4% | 0.0% | ||||||||||||||
Leadership in the Field Interactions | 5,500 | 15,694 | Above maximum | 200% | 3% | 6.0% | ||||||||||||||
Lost Time Severity Score | 128 | 16 | Above maximum | 200% | 3% | 6.0% | ||||||||||||||
Environmental Releases (Tier 4-5) | Two events | Zero events | Maximum | 200% | 5% | 10.0% | ||||||||||||||
Environmental Excursions | Two events | Zero events | Maximum | 200% | 5% | 10.0% | ||||||||||||||
Total | 133% | |||||||||||||||||||
Named Executive Officer | 2025 Base Salary1 | 2025 Target AIP % | Company % Weighting | Individual % Weighting | 2025 Individual % Amount2 | 2025 AIP Payout | ||||||||||||||
Mitchell J. Krebs, Chairman, President & Chief Executive Officer | $850,000 | 125% | 100% | 0% | N/A | $1,413,125 | ||||||||||||||
Thomas S. Whelan, Executive Vice President & Chief Financial Officer | $475,000 | 100% | 80% | 20% | 140% | $638,400 | ||||||||||||||
Michael Routledge, Executive Vice President & Chief Operating Officer | $525,000 | 100% | 80% | 20% | 125% | $689,850 | ||||||||||||||
Casey M. Nault, Executive Vice, President General Counsel & Secretary | $425,000 | 100% | 80% | 20% | 125% | $558,450 | ||||||||||||||
Aoife McGrath, Executive Vice President, Exploration | $360,000 | 75% | 80% | 20% | 100% | $341,280 | ||||||||||||||
1 | 2025 AIP payouts calculated based on NEO base salary at December 31, 2025. |
2 | Executives with individual performance components under the AIP generally are rated between 75% and 150% of target, although the Company’s AIP provides for individual performance achievement levels between 75% and 200% of target. |
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Compensation Discussion and Analysis | |
2025 LTIP Grant | ||||||||
Named Executive Officer | % of Salary | Target $ Amount | ||||||
Mitchell J. Krebs | 330% | $2,805,000 | ||||||
Thomas S. Whelan | 225% | $1,068,750 | ||||||
Michael Routledge | 225% | $1,181,250 | ||||||
Casey M. Nault | 225% | $956,250 | ||||||
Aoife McGrath | 190% | $684,000 | ||||||
February 17, 2026 | February 17, 2027 | February 17, 2028 | |||||||||
Grant of Restricted Shares | 1/3 Vest | 1/3 Vest | 1/3 Vest |
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2025 Performance Share Grant | ||||||||||||||
Performance Share Award | 3-Year FCF/Share | 3-Year Growth in Inferred Resources | rTSR | |||||||||||
Overall Weighting | 25% | 25% | 50% | |||||||||||
Payout Target | 25% | 50% | 75% | 100% | 125% | 150% | 175% | 200% | ||||||||||||||||||
Performance Target – FCF/share | $1.38 | $1.46 | $1.55 | $1.63 | $1.67 | $1.71 | $1.75 | $1.79 | ||||||||||||||||||
Payout Target | 25% | 50% | 75% | 100% | 125% | 150% | 175% | 200% | ||||||||||||||||||
Performance Target – Inferred Resources | ≥24% | ≥25% | ≥26% | ≥27% | ≥28.25% | ≥29.5% | ≥30.75% | ≥32+% | ||||||||||||||||||
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Payout Target | 50% | 75% | 100% | 150% | 200% | ||||||||||||
Performance Target – Percentile Ranking | ≥25% | ≥37.50% | =50% | ≥62.5% | ≥75% | ||||||||||||
Result: 65% payout driven by below target performance from operational challenges and inflationary impacts | ||||
Payout Target | 25% | 50% | 75% | 100% | 125% | 150% | 175% | 200% | ||||||||||||||||||
ROIC Target | 13.6% | 21.4% | 32.9% | 37.3% | 42.4% | 47.5% | 52.6% | 57.7% | ||||||||||||||||||
Result | 28.1% (65% payout) | |||||||||||||||||||||||||
Result: Payout at 200% due to nearly 39% increase in reserves over the three-year performance period1 | ||||
Payout Target | 25% | 50% | 75% | 100% | 125% | 150% | 175% | 200% | ||||||||||||||||||
Growth % | 5% Increase | 10% Increase | 13% Increase | 15% Increase | 18% Increase | 20% Increase | 23% Increase | 25%+ Increase | ||||||||||||||||||
Ending Reserves (in M AuEqOz)1,2 | 7.001 | 7.334 | 7.501 | 7.668 | 7.834 | 8.001 | 8.168 | 8.334 | ||||||||||||||||||
Coeur | 9.292M AuEqOZ (39% Increase) | |||||||||||||||||||||||||
1 | Based on total inferred resources, gross. Ounces measured on an AuEqOz basis using assumed reserve and resource prices at year-end 2022 for silver, gold, lead and zinc. |
2 | Only incremental ounces from acquired assets during the performance period, including the recently-acquired Las Chispas mine, declared after the acquisition are included in the performance results. |
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Compensation Discussion and Analysis | |
Result: Payout at 200% due to nearly 63% increase in INFERRED resOURCES over the three-year performance period1 | ||||
Payout Target | 25% | 50% | 75% | 100% | 125% | 150% | 175% | 200% | ||||||||||||||||||
Growth % | 25% Increase | 30% Increase | 35% Increase | 40% Increase | 45% Increase | 50% Increase | 55% Increase | 60%+ Increase | ||||||||||||||||||
Ending Inferred Ounces (in M AuEqOz)1,2 | 5.888 | 6.124 | 6.359 | 6.595 | 6.830 | 7.066 | 7.301 | 7.537 | ||||||||||||||||||
Coeur | 7.679M AuEqOZ (63% Increase) | |||||||||||||||||||||||||
1 | Based on total proven and probable reserves, gross. Ounces measured on an AuEqOz basis using assumed reserve and resource prices at year-end 2022 for silver, gold, lead and zinc. |
2 | Only incremental ounces from acquired assets during the performance period, including the recently-acquired Las Chispas mine, declared after the acquisition are included in the performance results. |
2023-2025 Overall Target Award and Payout | |||||||||||||||||
Named Executive Officer | Target Performance Shares at Grant Date | Value at Target* | # of Performance Shares Earned | Value Realized at Vesting Date** | % of Target Value Realized at Vesting Date | ||||||||||||
Mitchell J. Krebs | 430,985 | $1,353,293 | 713,818 | $19,380,159 | 1,432% | ||||||||||||
Thomas Whelan | 171,126 | $537,336 | 283,427 | $7,695,043 | 1,432% | ||||||||||||
Michael Routledge | 199,647 | $626,892 | 330,665 | $8,977,555 | 1,432% | ||||||||||||
Casey M. Nault | 161,619 | $507,484 | 267,681 | $7,267,539 | 1,432% | ||||||||||||
Aoife McGrath | 104,366 | $327,709 | 172,856 | $4,693,045 | 1,432% | ||||||||||||
2023-2025 ROIC Performance Share Payout | ||||||||||||||
Named Executive Officer | Target Performance Shares at Grant Date | Value at Target* | # of Performance Shares Earned | Value Realized at Vesting Date** | ||||||||||
Mitchell J. Krebs | 215,493 | $676,648 | 175,088 | $4,753,641 | ||||||||||
Thomas Whelan | 85,563 | $268,668 | 69,520 | $1,887,466 | ||||||||||
Michael Routledge | 99,824 | $313,447 | 81,107 | $2,202,055 | ||||||||||
Casey M. Nault | 80,810 | $253,743 | 65,658 | $1,782,618 | ||||||||||
Aoife McGrath | 52,183 | $163,855 | 42,399 | $1,151,124 | ||||||||||
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Compensation Discussion and Analysis | |
2023-2025 Reserves & Resources Growth Performance Share Payout | ||||||||||||||
Named Executive Officer | Target Performance Shares at Grant Date | Value at Target* | # of Performance Shares Earned | Value Realized at Vesting Date** | ||||||||||
Mitchell J. Krebs | 215,492 | $676,645 | 538,730 | $14,626,520 | ||||||||||
Thomas Whelan | 85,563 | $268,668 | 213,908 | $5,807,589 | ||||||||||
Michael Routledge | 99,823 | $313,444 | 249,558 | $6,775,486 | ||||||||||
Casey M. Nault | 80,809 | $253,740 | 202,023 | $5,484,911 | ||||||||||
Aoife McGrath | 52,183 | $163,855 | 130,458 | $3,541,921 | ||||||||||
* | Represents fair value of the award on the grant date under ASC 718. The closing stock price on the trading day before the grant date of February 27, 2023 was $2.94. |
** | Represents the amount paid in cash to settle the awards based on Coeur’s closing stock price on the vesting date of February 27, 2026 ($27.15) taxable value of the shares on the date of vesting (number of shares times the share price on release date). |
Named Executive Officer | Target Performance Shares at Grant Date | Shares Issued | ||||||
Mitchell J. Krebs | 85,375 | 39,273 | ||||||
Thomas Whelan | 34,017 | 15,648 | ||||||
Michael Routledge | 32,016 | 14,727 | ||||||
Casey M. Nault | 30,015 | 13,807 | ||||||
Aoife McGrath | 17,703 | 8,143 | ||||||
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Compensation Discussion and Analysis | |
Position | Stock Ownership Guideline | ||||
CEO | 6x base salary | ||||
CFO/COO/GC | 4x base salary | ||||
Other Executives | 2x base salary | ||||
Non-Employee Directors | 5x base annual director cash retainer | ||||
70 • COEUR MINING 2026 Proxy Statement |
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COEUR MINING 2026 Proxy Statement • 71 |
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Annual Common Stock/Deferred Stock Unit Retainer | $110,000 | ||||
Annual Cash Retainer | $100,000 | ||||
Lead Independent Director Annual Retainer | $25,000 | ||||
Audit Committee Chair Annual Retainer | $25,000 | ||||
Compensation and Leadership Development Committee Chair Annual Retainer | $25,000 | ||||
Environmental, Health, Safety and Corporate Responsibility Committee Chair Annual Retainer | $25,000 | ||||
Finance and Technical Committee Chair Annual Retainera | $20,000 | ||||
Nominating and Corporate Governance Committee Chair Annual Retainer | $15,000 | ||||
a | The Finance and Technical Committee was disbanded in September 2025. |
Name | Fees Earned or Paid in Cash ($)a | Stock Awards ($)b | Total ($)c | ||||||||
Linda L. Adamany | 125,000 | 91,634 | 216,634 | ||||||||
Pierre Beaudoind | 88,000 | 80,639 | 168,639 | ||||||||
Paramita Das | 100,000 | 91,634 | 191,634 | ||||||||
N. Eric Fierd | 88,000 | 80,639 | 168,639 | ||||||||
Randolph E. Gresse | 43,063 | 91,634 | 134,697 | ||||||||
Jeane L. Hullf | 125,000 | 91,634 | 216,634 | ||||||||
Eduardo Luna | 100,000 | 91,634 | 191,634 | ||||||||
Robert E. Mellor | 115,000 | 91,634 | 206,634 | ||||||||
J. Kenneth Thompsong | 159,230 | 91,634 | 250,864 | ||||||||
a | The aggregate dollar amount of all fees earned in cash during 2025 for services as a director, including annual retainer fees, committee and/or Board chair or Lead Independent Director fees. The Finance and Technical Committee disbanded in September 2025. |
b | Represents the grant date fair value of stock awards computed in accordance with FASB ASC Topic 718. |
c | As of December 31, 2025, none of our non-employee directors held outstanding unvested or unexercised equity awards as all prior stock options have expired and director stock awards are fully vested upon grant. |
d | Mr. Beaudoin and Mr. Fier joined the Board effective February 14, 2025, and their compensation was pro-rated accordingly. |
e | Mr. Gress ceased to be a director effective as of the 2025 Annual Meeting and his cash fees are pro-rated accordingly. |
f | Ms. Hull elected to defer her stock awards of 17,160 common shares into the Coeur Mining Deferred Compensation Plan. Each deferred stock unit represents a right to receive one share of Company common stock, which will be delivered on the 60th day after separation from Board service. |
g | Mr. Thompson received the pro-rated amount of the Compensation and Leadership Development Committee Chair Annual Retainer effective March 25, 2025 and received the pro-rated amount of the Finance and Technical Committee Chair Annual Retainer until the Committee was disbanded in September 2025. |
72 • COEUR MINING 2026 Proxy Statement |
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COEUR MINING 2026 Proxy Statement • 73 |
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What am I voting for? | ||
![]() | The Board of Directors recommends a vote FOR the advisory resolution to approve named executive officer compensation. | ||

• | AIP for the CEO and other NEOs for Company performance paid out at 133% of target, reflecting strong performance on gold production and costs, continued strong performance in environmental, health and safety initiatives and the achievement of the key strategic initiative regarding the successful integration of Las Chispas |
• | The 2023-2025 performance share opportunity paid out at 166% of target, reflecting maximum 200% performance for growth in reserves and resources, respectively, 65% payout for ROIC metric, and a 125% multiplier for rTSR performance in the top quartile of the peer group |
• | Actual performance-linked compensation over each of the last three years for the CEO was aligned with our stock price over the same period as described in further detail on page 60 |
74 • COEUR MINING 2026 Proxy Statement |
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2025 Executive Compensation Information | |||||
IN THIS SECTION | |||||
76 | 2025 Summary Compensation Table | ||||
78 | 2025 Grants of Plan-Based Awards | ||||
79 | Narrative Disclosure to Summary Compensation Table and Grants of Plan-Based Awards Table | ||||
80 | Outstanding Equity Awards at 2025 Year-End | ||||
81 | 2025 Stock Vested | ||||
81 | Nonqualified Deferred Compensation | ||||
82 | Potential Payments Upon Termination or Change-In-Control | ||||
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Name and Principal Position | Year | Salary ($) | Bonus ($) | Stock Awards ($)a | Option Awards ($) | Non-Equity Incentive Plan Compensation Earnings ($)b | Change in Nonqualified Deferred Compensation Earnings ($) | All Other Compensation ($)d | Total ($) | ||||||||||||||||||||
Mitchell J. Krebs Chairman, President & Chief Executive Officer | 2025 | 850,000 | 0 | 4,223,336 | 0 | 1,413,125 | 0 | 160,140 | 6,646,601 | ||||||||||||||||||||
2024 | 850,000 | 0 | 2,334,161 | 0 | 1,051,875 | 0 | 151,770 | 4,387,806 | |||||||||||||||||||||
2023 | 850,000 | 0 | 2,215,262 | 0 | 892,500 | 0 | 151,210 | 4,108,972 | |||||||||||||||||||||
Thomas S. Whelan Executive Vice President & Chief Financial Officer | 2025 | 475,000 | 0 | 1,609,149 | 0 | 638,400 | 0 | 88,016 | 2,810,565 | ||||||||||||||||||||
2024 | 475,000 | 0 | 978,286 | 0 | 518,700 | 0 | 69,704 | 2,041,690 | |||||||||||||||||||||
2023 | 466,667 | 0 | 879,588 | 0 | 461,700 | 0 | 62,087 | 1,870,042 | |||||||||||||||||||||
Michael Routledge Executive Vice President & Chief Operating Officer | 2025 | 525,000 | 0 | 1,778,538 | 0 | 689,850 | 0 | 72,349 | 3,065,737 | ||||||||||||||||||||
2024 | 525,000 | 0 | 1,081,264 | 0 | 547,050 | 0 | 65,280 | 2,218,594 | |||||||||||||||||||||
2023 | 525,000 | 0 | 1,026,186 | 0 | 447,300 | 0 | 69,498 | 2,067,984 | |||||||||||||||||||||
Casey M. Nault Executive Vice President, General Counsel & Secretary | 2025 | 425,000 | 0 | 1,439,771 | 0 | 558,450 | 0 | 67,036 | 2,490,257 | ||||||||||||||||||||
2024 | 425,000 | 0 | 875,311 | 0 | 434,350 | 0 | 53,717 | 1,788,378 | |||||||||||||||||||||
2023 | 425,000 | 0 | 830,722 | 0 | 391,850 | 0 | 62,286 | 1,709,858 | |||||||||||||||||||||
Aoife McGrath Executive Vice President, Exploration | 2025 | 360,000 | 0 | 1,029,852 | 0 | 341,280 | 0 | 55,448 | 1,786,580 | ||||||||||||||||||||
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2025 Executive Compensation Information | |
a | Set forth below is the aggregate grant date fair value of stock awards, as calculated in accordance with FASB ASC 718, granted in 2025. |
Named Executive Officer | Restricted Stock Award1,3 ($) | Performance Share Award2,3 ($) | ||||||
Mr. Krebs | 1,377,333 | 2,846,002 | ||||||
Mr. Whelan | 524,786 | 1,084,363 | ||||||
Mr. Routledge | 580,026 | 1,198,512 | ||||||
Mr. Nault | 469,546 | 970,225 | ||||||
Ms. McGrath | 335,861 | 693,991 | ||||||
1 | The restricted share awards vest one-third on each of February 17, 2026, 2027 and 2028. |
2 | Performance share awards cliff-vest based on the attainment of performance goals over a three-year period. The actual value to the NEO of the performance shares depends on the extent to which certain performance criteria are met over the three-year period as explained in “Compensation Discussion and Analysis”. The grant date fair value of the 2025 performance shares at target is shown in the above table, and the value of these 2025 grants at the time of grant assuming the maximum level of performance was achieved is as follows: for Mr. Krebs $5,692,004; for Mr. Whelan $2,168,727; for Mr. Routledge $2,397,024; for Mr. Nault $1,940,451; and $1,387,982 for Ms. McGrath. |
3 | The assumptions used to calculate the valuation of the awards are set forth in the table below. |
Grant Date | Award Type | Volatility | Expected Life (Years)i | Risk-Free Interest Rate | Dividend Yield | Fair Value | ||||||||||||||
February 27, 2023 | PSU | 73.0% | 3 | 4.49% | 0% | $3.14 | ||||||||||||||
February 27, 2023 | Restricted Stock | N/A | 3 | N/A | N/A | $3.00 | ||||||||||||||
February 26, 2024 | PSU | 66.1% | 3 | 4.46% | 0% | $2.77 | ||||||||||||||
February 26, 2024 | Restricted Stock | N/A | 3 | N/A | N/A | $2.55 | ||||||||||||||
May 14, 2025 | PSU | 66.8% | 2.75 | 4.01% | 0% | $10.18 | ||||||||||||||
May 14, 2025 | Restricted Stock | N/A | 2.75 | N/A | N/A | $7.39 | ||||||||||||||
i | For PSUs and restricted stock, this reflects the vesting period from the grant date. |
ii | The grant date fair values of the PSUs are determined using the Monte Carlo simulation valuation method. We calculate the grant date fair value of restricted stock by taking the closing trading price of Coeur common stock on the grant date. |
b | Represents amounts paid under the AIP. Please refer to the discussion in “Compensation Discussion and Analysis — 2025 Executive Compensation Results — AIP”. |
c | Participants in our Deferred Compensation Plan do not receive preferential or above-market plan earnings. |
d | All other compensation includes perquisites and other amounts as follows: Mr. Krebs received a vehicle allowance of $20,678 during 2025. Mr. Krebs, Mr. Whelan, Mr. Routledge, Mr. Nault, and Ms. McGrath received excess group term life insurance valued at $1,242, $2,322, $2,322, $1,242, and $810, respectively, for 2025. Mr. Krebs and Mr. Nault received executive disability insurance coverage whose premiums were $6,219 and $2,264, respectively, for 2025, and the Company also paid premiums for Mr. Krebs of $6,816 for executive life insurance coverage. Mr. Krebs and Mr. Nault each received transit benefits valued at $5,400 and $1,619, respectively, for 2025. For 2025, each NEO received a company matching contribution to the Coeur Mining, Inc. Defined Contribution and 401(k) Plan of $21,000. For 2025, each of Mr. Krebs, Mr. Whelan, Mr. Routledge, Mr. Nault and Ms. McGrath received an additional contribution from the Company into the Deferred Compensation Plan in the amount of $93,113, $40,115, $43,323, $30,561 and $16,968, respectively, which represents 6% of their 2025 compensation in excess of their 2025 401(k) Retirement Plan limit. In addition, Mr. Krebs, Mr. Whelan, Mr. Nault and Ms. McGrath were each provided with an executive physical in 2025 paid for by the Company in the amount of $5,672, $4,929, $10,350 and $8,623, respectively. For 2025, the Company provided Mr. Whelan, Mr. Routledge and Ms. McGrath tax planning services in the amount of $8,538, $5,704 and $8,047, respectively. |
COEUR MINING 2026 Proxy Statement • 77 |
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2025 Executive Compensation Information | |
Estimated Possible Payouts Under Non-Equity Incentive Plan Awards | Estimated Future Payouts Under Equity Incentive Plan Awards | All Other Stock Awards: Number of Shares of Stock or Units (#)c | Grant Date Fair Value of Stock and Options Award ($)d | ||||||||||||||||||||||||||||||||
Named Executive Officer | Grant Date | Approval Date | Threshold ($)a | Target ($)a | Maximum ($)a | Threshold (#)b | Target (#)b | Maximum (#)b | |||||||||||||||||||||||||||
Mitchell J. Krebs | 531,250 | 1,062,500 | 2,125,000 | ||||||||||||||||||||||||||||||||
5/14/2025 | 5/13/2025 | 17,473 | 69,892 | 139,784 | 694,726 | ||||||||||||||||||||||||||||||
5/14/2025 | 5/13/2025 | 17,473 | 69,892 | 139,784 | 694,726 | ||||||||||||||||||||||||||||||
5/14/2025 | 5/13/2025 | 34,946 | 139,784 | 279,568 | 1,456,549 | ||||||||||||||||||||||||||||||
5/14/2025 | 5/13/2025 | 186,378 | 1,377,333 | ||||||||||||||||||||||||||||||||
Thomas S. Whelan | 237,500 | 475,000 | 950,000 | ||||||||||||||||||||||||||||||||
5/14/2025 | 5/13/2025 | 6,658 | 26,630 | 53,260 | 264,702 | ||||||||||||||||||||||||||||||
5/14/2025 | 5/13/2025 | 6,658 | 26,630 | 53,260 | 264,702 | ||||||||||||||||||||||||||||||
5/14/2025 | 5/13/2025 | 13,315 | 53,259 | 106,518 | 554,959 | ||||||||||||||||||||||||||||||
5/14/2025 | 5/13/2025 | 71,013 | 524,786 | ||||||||||||||||||||||||||||||||
Michael Routledge | 262,500 | 525,000 | 1,050,000 | ||||||||||||||||||||||||||||||||
5/14/2025 | 5/13/2025 | 7,358 | 29,433 | 58,866 | 292,564 | ||||||||||||||||||||||||||||||
5/14/2025 | 5/13/2025 | 7,358 | 29,433 | 58,866 | 292,564 | ||||||||||||||||||||||||||||||
5/14/2025 | 5/13/2025 | 14,717 | 58,866 | 117,732 | 613,384 | ||||||||||||||||||||||||||||||
5/14/2025 | 5/13/2025 | 78,488 | 580,026 | ||||||||||||||||||||||||||||||||
Casey M. Nault | 212,500 | 425,000 | 850,000 | ||||||||||||||||||||||||||||||||
5/14/2025 | 5/13/2025 | 5,957 | 23,827 | 47,654 | 236,840 | ||||||||||||||||||||||||||||||
5/14/2025 | 5/13/2025 | 5,957 | 23,827 | 47,654 | 236,840 | ||||||||||||||||||||||||||||||
5/14/2025 | 5/13/2025 | 11,913 | 47,653 | 95,306 | 496,544 | ||||||||||||||||||||||||||||||
5/14/2025 | 5/13/2025 | 63,538 | 469,546 | ||||||||||||||||||||||||||||||||
Aoife McGrath | 135,000 | 270,000 | 540,000 | ||||||||||||||||||||||||||||||||
5/14/2025 | 5/13/2025 | 4,261 | 17,043 | 34,086 | 169,407 | ||||||||||||||||||||||||||||||
5/14/2025 | 5/13/2025 | 4,261 | 17,043 | 34,086 | 169,407 | ||||||||||||||||||||||||||||||
5/14/2025 | 5/13/2025 | 8,522 | 34,086 | 68,172 | 355,176 | ||||||||||||||||||||||||||||||
5/14/2025 | 5/13/2025 | 45,448 | 335,861 | ||||||||||||||||||||||||||||||||
a | The applicable range of estimated payouts under the AIP is denominated in dollars (threshold, target, and maximum amount). Please refer to the discussion in “Compensation Discussion and Analysis — 2025 Executive Compensation Results — AIP”. |
b | The number of performance shares to be paid out or vested within the applicable range of estimated payouts (threshold at 25%, target at 100%, and maximum amount at 200%) is subject to the achievement of specific financial and operational goals over a three-year period and, in each case, satisfaction of time-based vesting conditions. Please refer to the discussion in “Compensation Discussion and Analysis — 2025 Executive Compensation Results — Long-Term Equity Incentive Awards”. |
c | This column consists of the annual restricted share grants as described above in the “Compensation Discussion and Analysis — 2025 Executive Compensation Results — Long-Term Equity Incentive Awards”. |
d | Fair Value of stock awards granted on the award date calculated in accordance with FASB ASC 718. |
78 • COEUR MINING 2026 Proxy Statement |
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2025 Executive Compensation Information | |
COEUR MINING 2026 Proxy Statement • 79 |
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2025 Executive Compensation Information | |
Stock Awards | ||||||||||||||
Named Executive Officer | Number of Shares or Units of Stock that Have Not Vested (#)a | Market Value of Shares or Units of Stock That Have Not Vested ($) | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#)b | Equity Incentive Plan Awards: Market or Payable Value of Unearned Shares, Units or Other Rights That Have Not Vested ($) | ||||||||||
Mitchell J. Krebs | 514,233 | 9,168,774 | ||||||||||||
1,232,737 | 21,979,701 | |||||||||||||
Thomas S. Whelan | 206,310 | 3,678,507 | ||||||||||||
496,501 | 8,852,613 | |||||||||||||
Michael Routledge | 230,362 | 4,107,354 | ||||||||||||
559,273 | 9,971,838 | |||||||||||||
Casey M. Nault | 186,484 | 3,325,010 | ||||||||||||
452,745 | 8,072,443 | |||||||||||||
Aoife McGrath | 124,840 | 2,225,897 | ||||||||||||
298,988 | 5,330,956 | |||||||||||||
a | With respect to the number of restricted shares granted and unvested as of December 31, 2025: |
• | For Mr. Krebs, includes a grant of 287,323 restricted shares that vests one-third annually beginning February 27, 2024, a grant of 348,122 restricted shares that vests one-third annually beginning February 26, 2025, and a grant of 186,378 restricted shares that vests one-third annually beginning February 17, 2026. |
• | For Mr. Whelan, includes a grant of 114,084 restricted shares that vests one-third annually beginning February 27, 2024, a grant of 145,904 restricted shares that vests one-third annually beginning February 26, 2025, and a grant of 71,013 restricted shares that vests one-third annually beginning February 17, 2026. |
• | For Mr. Routledge, includes a grant of 133,098 restricted shares that vests one-third annually beginning February 27, 2024, a grant of 161,262 restricted shares that vests one-third annually beginning February 26, 2025, and a grant of 78,488 restricted shares that vests one-third annually beginning February 17, 2026. |
• | For Mr. Nault, includes a grant of 226,711 restricted shares that vests one-third annually beginning February 27, 2024, a grant of 130,546 restricted shares that vests one-third annually beginning February 26, 2025, and a grant of 63,538 restricted shares that vests one-third annually beginning February 17, 2026. |
• | For Ms. McGrath, includes a grant of 69,577 restricted shares that vests one-third annually beginning February 27, 2024, a grant of 84,300 restricted shares that vests one-third annually beginning February 26, 2025, and a grant of 45,448 restricted shares that vests one-third annually beginning February 17, 2026. |
b | The total number of performance shares do not vest until the end of the three-year performance period, if at all. Performance shares that were outstanding as of December 31, 2025 were granted on February 27, 2023, February 26, 2024 and May 14, 2025. |
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2025 Executive Compensation Information | |
Stock Awards | ||||||||
Named Executive Officer | Number of Shares Acquired on Vesting (#)a | Value Realized on Vesting ($)b | ||||||
Mitchell J. Krebs | 476,541 | 2,536,565 | ||||||
Thomas S. Whelan | 185,935 | 988,746 | ||||||
Michael Routledge | 203,596 | 1,081,362 | ||||||
Casey M. Nault | 172,498 | 917,333 | ||||||
Aoife McGrath | 113,290 | 710,449 | ||||||
a | Includes additional shares awarded for the 2022-2024 ROIC Performance Shares metric as described above in Compensation Discussion and Analysis at page 51. |
b | The aggregate dollar value realized upon vesting of restricted stock and performance shares (i.e., the number of shares times the market price of the underlying shares on the vesting date). |
Named Executive Officer | Executive Contributions in Last FY ($)a | Registrant Contributions in Last FY ($)b | Aggregate Earnings in Last FY ($)c | Aggregate Withdrawals/ Distributions ($) | Aggregate Balance at Last FYE ($)d | ||||||||||||
Mitchell J. Krebs | — | 93,113 | 187,161 | — | 1,925,763 | ||||||||||||
Thomas S. Whelan | — | 40,115 | 26,163 | — | 192,020 | ||||||||||||
Michael Routledge | — | 43,323 | 5,235 | — | 139,187 | ||||||||||||
Casey M. Nault | — | 30,561 | 46,872 | — | 320,404 | ||||||||||||
Aoife McGrath | — | 16,968 | 1,057 | — | 29,586 | ||||||||||||
a | NEOs did not make any contributions to the Deferred Compensation Plan during 2025. |
b | The amounts in this column also are reported in footnote (d) to the All Other Compensation column of the Summary Compensation Table. These amounts were calculated based on 2025 earnings but contributed to the plan during the first quarter of 2026. |
c | The amount in this column is not included in the Summary Compensation Table because plan earnings were not preferential or above-market. |
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2025 Executive Compensation Information | |
d | The aggregate balances at last fiscal year-end reported in this table include the following amounts that were previously reported as compensation in the Summary Compensation Table of the Company’s Proxy Statements for prior years: |
Named Executive Officer | Amounts Previously Reported ($) | ||||
Mitchell J. Krebs | 1,654,752 | ||||
Thomas S. Whelan | 129,126 | ||||
Michael Routledge | 96,314 | ||||
Casey M. Nault | 245,221 | ||||
Aoife McGrath | 15,278 | ||||
• | any organization, group or person (“Person”) (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes the beneficial owner (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of Coeur representing 35% or more of the combined voting power of the then outstanding securities of Coeur; |
• | during any two-year period, a majority of the members of the Board serving at the effective date of the change-in-control arrangement is replaced by directors who are not nominated and approved by the Board; |
• | a majority of the members of the Board is represented by, appointed by or affiliated with any Person who the Board has determined is seeking to effect a change in control of Coeur; or |
• | we are combined with or acquired by another company and the Board determines, either before such event or thereafter, by resolution, that a change in control will occur or has occurred. |
• | a severance payment equivalent to 2.75 times his base salary and target annual incentive plan award for the year in which the termination occurs, payable in 12 equal installments beginning 30 days after termination; |
• | continuation of health care benefits for Mr. Krebs and his dependents for up to one year following the termination. |
• | a lump sum equivalent to 2.75 times Mr. Krebs’s base salary and target annual incentive plan award for the year in which the change in control occurs, payable within 60 days after termination; |
• | continuation of health care benefits for Mr. Krebs and his dependents for up to two years following the change in control; and |
• | accelerated vesting of unvested grants of equity, as more fully described in the footnotes to the following table. |
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2025 Executive Compensation Information | |
• | a severance payment equivalent to two times the executive’s base salary and target annual incentive plan award for the year in which the termination occurs, payable in 12 equal installments beginning 30 days after termination; and |
• | continuation of health care benefits for the employee and his or her dependents for up to 12 months following the termination. |
• | a lump sum equivalent to two times the executive’s base salary and target annual incentive plan award for the year in which the change in control occurs; |
• | continuation of health care benefits for the employee and his or her dependents for up to 18 months following the change in control; and |
• | accelerated vesting of unvested grants of equity, as more fully described in the footnotes to the following table. |
Named Executive Officer | Cash Severance Payments ($)a | Continuation of Medical/ Welfare Benefits (present value) ($)b | Accelerated Vesting of Equity Awards ($)c | Total Termination Benefits ($) | |||||||||||||
Mitchell J. Krebs | |||||||||||||||||
• | Not for cause—Involuntary | 5,259,375 | 16,595 | 0 | 5,275,970 | ||||||||||||
• | Death & Disability | 0 | 0 | 31,148,475 | 31,148,475 | ||||||||||||
• | Not for cause—voluntary under age 65 | 0 | 0 | 0 | 0 | ||||||||||||
• | Change in Control, without termination | 0 | 0 | 0 | 0 | ||||||||||||
• | Termination subsequent to a Change in Controld | 5,259,375 | 34,104 | 36,220,220 | 41,513,699 | ||||||||||||
Thomas S. Whelan | |||||||||||||||||
• | Not for cause—Involuntary | 1,900,000 | 9,322 | 0 | 1,909,322 | ||||||||||||
• | Death & Disability | 0 | 0 | 12,531,120 | 12,531,120 | ||||||||||||
• | Not for cause—voluntary under age 65 | 0 | 0 | 0 | 0 | ||||||||||||
• | Change in Control, without termination | 0 | 0 | 0 | 0 | ||||||||||||
• | Termination subsequent to a Change in Controld | 1,900,000 | 14,246 | 14,544,897 | 16,459,142 | ||||||||||||
Michael Routledge | |||||||||||||||||
• | Not for cause—Involuntary | 2,100,000 | 17,333 | 0 | 2,117,333 | ||||||||||||
• | Death & Disability | 0 | 0 | 14,079,192 | 14,079,192 | ||||||||||||
• | Not for cause—voluntary under age 65 | 0 | 0 | 0 | 0 | ||||||||||||
• | Change in Control, without termination | 0 | 0 | 0 | 0 | ||||||||||||
• | Termination subsequent to a Change in Controld | 2,100,000 | 26,096 | 16,428,598 | 18,554,694 | ||||||||||||
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2025 Executive Compensation Information | |
Named Executive Officer | Cash Severance Payments ($)a | Continuation of Medical/ Welfare Benefits (present value) ($)b | Accelerated Vesting of Equity Awards ($)c | Total Termination Benefits ($) | |||||||||||||
Casey M. Nault | |||||||||||||||||
• | Not for cause—Involuntary | 1,700,000 | 18,038 | 0 | 1,718,038 | ||||||||||||
• | Death & Disability | 0 | 0 | 11,397,453 | 11,397,453 | ||||||||||||
• | Not for cause—voluntary under age 65 | 0 | 0 | 0 | 0 | ||||||||||||
• | Change in Control, without termination | 0 | 0 | 0 | 0 | ||||||||||||
• | Termination subsequent to a Change in Controld | 1,700,000 | 27,562 | 13,299,353 | 15,026,915 | ||||||||||||
Aoife McGrath | |||||||||||||||||
• | Not for cause—Involuntary | 1,260,000 | 18,815 | 0 | 1,278,815 | ||||||||||||
• | Death & Disability | 0 | 0 | 7,556,853 | 7,556,853 | ||||||||||||
• | Not for cause—voluntary under age 65 | 0 | 0 | 0 | 0 | ||||||||||||
• | Change in Control, without termination | 0 | 0 | 0 | 0 | ||||||||||||
• | Termination subsequent to a Change in Controld | 1,260,000 | 28,750 | 8,875,011 | 10,073,761 | ||||||||||||
a | Cash severance payments consist of 2.75 times for Mr. Krebs and 2.0 times for other executives, the sum of annual base salary plus target annual incentive opportunity. |
b | In the event of a qualifying termination not in connection with a change in control, NEOs receive continued payment of employee health care benefits or costs of benefits for up to 12 months. In the event of a change in control and a subsequent qualifying termination of employment within two years following the change in control, NEOs receive continued payment of employee health care benefits or costs of benefits for up to 18 months, except in the case of the CEO, in which case the benefits would be available for up to 24 months. This column represents the net present value of health plan benefits provided upon termination. |
c | Represents the value of any unvested stock options, restricted stock or other equity awards that were not vested as of the relevant date and present value of health plan benefits provided upon termination. |
• | In the event of death or disability, all options, restricted stock grants, and performance share grants would vest 100%, with the performance shares vesting at target. The NEOs would have 12 months from the date of death or disability to exercise their options, except for nonqualified options granted prior to January 22, 2013, which permit up to three years to exercise in the event of disability. |
• | In the event of a qualifying termination of employment within 90 days prior to and up to two years following a change in control, the NEOs would have up to 12 months from termination to exercise their options, except for incentive stock options granted between January 22, 2013 and May 13, 2015, which permit up to two years to exercise, instead of the usual three months. |
• | Our equity awards are subject to “double trigger” accelerated vesting upon a change-in-control, meaning restricted stock will vest 100%, and performance shares will vest based on the actual performance achieved up to the date of the change in control, in each case only upon a qualifying termination within 90 days prior to and up to two years after the change in control. The actual achievement of performance targets up to the date of the change in control was estimated using the elapsed time in the performance period occurring prior to the hypothetical change in control. |
d | The severance payments will be reduced to keep the total payments from exceeding the cap imposed by the golden parachute rules of the Internal Revenue Code (“280G”) to the extent that such reduction will, on a net after-tax basis, provide the executive with a greater value than if no reduction was made and the executive paid any 280G-related excise tax payments. No values shown in the table have been reduced. |
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• the annual total compensation of our CEO, as reported in the 2025 Summary Compensation Table on page 76 of this Proxy Statement, was $6,646,601; and | For 2025, the ratio of the annual total compensation of Mr. Krebs, our CEO, to the annual total compensation of our median compensated employee was 83 to 1 | ||||
• the annual total compensation of our median compensated employee (other than our CEO) was $79,655. | |||||
• | We determined that, as of December 31, 2025, our employee population consisted of approximately 2,281 individuals with these individuals located in the United States, Canada and Mexico (as reported in Item 1, Business, in our Annual Report, less the number of employees at Las Chispas, which was added to Coeur’s portfolio in 2025 through our acquisition of SilverCrest Metals Inc.). This population consisted of our full-time, part-time, and temporary employees. |
• | To identify the “median employee” from our employee population, we compared the amount of total cash compensation reflected in our payroll records. Total cash compensation includes base salary or hourly wages paid during 2025, as applicable, and amounts paid during 2025 under our AIP and other cash bonus arrangements. We identified our median employee using this compensation measure, which was consistently applied to all our employees included in the calculation. |
• | Once we identified our median employee, we combined all of the elements of such employee’s compensation for 2025 in accordance with the requirements of Item 402(c)(2)(x) of Regulation S-K, resulting in annual total compensation of $75,474. The median employee’s total compensation for 2025 included a contribution of $4,180 to the account of the employee in the Company’s 401(k) Retirement Plan. The Company contributes an amount equal to 100% of up to the first 6% of an employee’s eligible compensation contributed in 2025. |
• | With respect to the annual total compensation of our CEO, we used the amount reported in the “Total” column of our 2025 Summary Compensation Table on page 76 of this Proxy Statement and incorporated by reference into Item 11 of Part III of our Annual Report. |
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Year (a) | Summary Compensation Table Total for PEO1 (b) | Compensation Actually Paid to PEO2 (c) | Average Summary Compensation Table Total for non-PEO NEOs3 (d) | Average Compensation Actually Paid to non-PEO NEOs2,3 (e) | Value of Initial Fixed $100 Investment Based On: | Net Income (h) | Adjusted EBITDA (Company Selected Measure)5 (i) | |||||||||||||||||||
Total Stockholder Return4 (f) | Peer Group Total Stockholder Return4 (g) | |||||||||||||||||||||||||
2025 | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||
2024 | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||
2023 | $ | $ | $ | $ | $ | $ | ($ | $ | ||||||||||||||||||
2022 | $ | $ | $ | $ | $ | $ | ($ | $ | ||||||||||||||||||
2021 | $ | $ | $ | $ | $ | $ | ($ | $ | ||||||||||||||||||
1 | In all the years in question, |
2 | The following tables set forth the adjustments made during 2025 represented in the PVP table to arrive at CAP to our PEO and average CAP to our other NEOs. The equity award adjustments to arrive at “Compensation Actually Paid” or “CAP” were calculated consistent with FASB ASC 718, and the valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. For information on our adjustments made during 2021-2024, refer to our 2025 Proxy Statement. |
PEO | Average Non-PEO | |||||||
Total Reported in 2025 Summary Compensation Table (SCT) | $ | $ | ||||||
Less, value of Stock Awards reported in SCT | $ | $ | ||||||
Plus, Year-End Fair Value of Awards Granted in the Fiscal Year that are Unvested and Outstanding | $ | $ | ||||||
Plus, Change in Fair Value of Prior Year Awards that are Outstanding and Unvested | $ | $ | ||||||
Plus, FMV of Awards Granted this Year and that Vested this Year | ||||||||
Plus, Change in Fair Value (from prior year-end to vesting date) of Prior Year Awards that Vested during the Fiscal Year | $ | $ | ||||||
Less, Prior Year Fair Value of Prior Year Awards that Failed to Vest this Year | ||||||||
Total Adjustments | $ | $ | ||||||
Compensation Actually Paid for 2025 | $ | $ | ||||||
3 | During 2025, our non-PEO NEOs consisted of Thomas S. Whelan, Michael Routledge, Casey M. Nault and Aoife McGrath. During each of 2024, 2023 and 2022, our non-PEO NEOs consisted of Thomas S. Whelan, Michael Routledge, Casey M. Nault and Emilie C. Schouten. During 2021, our non-PEO NEOs consisted of Thomas S. Whelan, Michael Routledge, Casey M. Nault, Terrence F. Smith, and Hans J. Rasmussen. Mr. Smith departed the Company effective August 27, 2021, and Mr. Rasmussen retired from his position as Senior Vice President, Exploration, effective March 31, 2022. |
4 | Company and peer group TSR reflects the Company’s “TSR peer group” as reflected in our 2025 Annual Report on Form 10-K pursuant to Item 201(e) of Regulation S-K. Each year reflects what the cumulative value of $100 would be, including reinvestment of dividends, if such amount were invested on December 31, 2025. |
5 |
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Pay-versus-Performance Table | |
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General Information | |
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General Information | |
• | by providing written notice to our Company’s Secretary; |
• | by attending the Annual Meeting and voting through the virtual platform (your attendance at the Annual Meeting will not by itself revoke your proxy); |
• | by submitting a later-dated proxy card, provided it is received before the Annual Meeting; |
• | if you submitted a proxy by telephone or Internet, by submitting a subsequent proxy by telephone or internet; or |
• | if you are a beneficial owner of Coeur common stock and have instructed a broker, bank or other nominee to vote your shares, you may follow the directions received from your broker, bank or other nominee to change or revoke those instructions. |
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General Information | |
Proposal | Required Vote | Effect of Abstention | Effect of Broker Non-Vote1 | |||||||||||
1 | Election of nine directors | Majority of votes cast for each of the nominees | None1 | No effect | ||||||||||
2 | Ratification of the appointment of Grant Thornton LLP as the Company’s independent registered public accounting firm for 2026 | Majority of votes cast for the action | None1 | N/A (broker non-votes are not expected) | ||||||||||
3 | Approval of an amendment to the Company’s Certificate of Incorporation to limit the liability of certain officers as permitted by law | Majority of outstanding shares of common stock | Same as vote Against | Same as vote Against | ||||||||||
4 | Advisory resolution to approve named executive officer compensation | Majority of votes cast for the action | None1 | No effect | ||||||||||
1 | Under Delaware law, abstentions and broker no-non votes are not counted as votes cast. |
YOUR VOTE IS IMPORTANT | ||||||||||||||||
Please cast your vote as soon as possible by using one of the following methods: | ||||||||||||||||
Online at www.proxyvote.com | Call toll-free from the United States, U.S. territories and Canada via 1-800-690-6903 | |||||||||||||||
Mail your signed proxy or voting instruction form | Attend the Annual Meeting virtually www.virtualshareholder-meeting.com/CDE2026 | |||||||||||||||
Your Vote is Important – We will make a charitable contribution of $1 to Hire Heroes USA for every stockholder account that votes, up to a maximum donation of $10,000. Coeur is committed to recruiting, supporting and integrating current and former members of the military into our operations through our Coeur Heroes program, launched in 2018. Coeur Heroes allows service members to use the special skills they developed during their time of service to help make a difference at our operations. | ||||||||||||||||
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• | Proposals of stockholders intended to be submitted and presented at the 2027 Annual Stockholders’ Meeting (the “2027 Annual Meeting”) pursuant to the SEC Rule 14a-8 must be received by the Company’s Secretary, Coeur Mining, Inc., 200 South Wacker Drive, Suite 2100, Chicago, IL 60606, no later than the close of business on December 2, 2026 in order for them to be considered for inclusion in the Proxy Statement for the 2027 Annual Meeting. |
• | A stockholder wishing to submit a proposal, including a director nomination, to be voted on at the 2027 Annual Meeting under the advance notice provisions included in our Bylaws for our 2027 Annual Meeting, must deliver notice of such proposal or director nomination as applicable, including the information specified in the Bylaws (which includes information required under Rule 14a-19), to the Company’s Secretary at the address indicated above no earlier than the close of business on January 12, 2027 and no later than the close of business on February 11, 2027. If the 2027 Annual Meeting is more than 30 days before or more than 70 days after the anniversary date of the 2026 Annual Meeting, such notice must be delivered to us no earlier than the close of business on the 120th day prior to the meeting and no later than the close of business on the later of the 90th day prior to the meeting or the 10th day following the date on which public announcement of such meeting is first made. |
• | Our Bylaws permit a stockholder, or a group of up to 20 stockholders, who continuously own at least 3% or more of our outstanding common stock for at least three years to nominate and include in our proxy materials directors constituting up to the greater of two or 20% of board seats, if the stockholder(s) and the nominee(s) meet the requirements included in our Bylaws. Notice of director nominations submitted under these proxy access Bylaw provisions must be delivered to the Company’s Secretary at the address indicated above no earlier than the close of business on December 2, 2026, and no later than the close of business on January 1, 2027. If the 2027 Annual Meeting is more than 30 days before or more than 70 days after the anniversary date of the 2026 Annual Meeting, such notice must be delivered to us no earlier than the close of business on the 120th day prior to the meeting and no later than the close of business on the later of the 90th day prior to the meeting or the 10th day following the date on which public announcement of such meeting is first made. |
• | Failure to comply with the advance notice requirements will permit management to use its discretionary voting authority if and when the proposal is raised at the Annual Meeting without having had a discussion of the proposal in the Proxy Statement. For purposes of the above-mentioned deadlines, “close of business” shall mean 6:00 p.m. local time at the principal executive offices of the Company on any calendar day, whether or not the day is a business day. |

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($ thousands) | 2025 | 2024 | 2023 | ||||||||
Net income (loss) | 585,872 | 58,900 | (103,612) | ||||||||
Interest expense, net of capitalized interest | 30,942 | 51,276 | 29,099 | ||||||||
Income tax provision | 96,666 | 67,450 | 35,156 | ||||||||
Amortization | 251,099 | 124,974 | 99,822 | ||||||||
EBITDA | $964,579 | $302,600 | $60,465 | ||||||||
Fair value adjustments, net | 342 | — | (3,384) | ||||||||
Foreign exchange (gain) loss | (1,429) | (4,753) | 459 | ||||||||
Loss on sale of assets and securities | 698 | 4,250 | 25,197 | ||||||||
RMC bankruptcy distribution | (37) | (1,294) | (1,516) | ||||||||
Loss on debt extinguishment | (113) | (417) | (3,437) | ||||||||
Asset retirement obligation accretion | 19,697 | 16,778 | 16,405 | ||||||||
Inventory adjustments and write-downs | 6,265 | 8,042 | 43,188 | ||||||||
Other adjustments | — | 5,429 | 4,925 | ||||||||
Adjusted EBITDA | $1,025,772 | $339,152 | $142,302 | ||||||||
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Appendix A − Certain Additional Information | |
Consolidated | Year Ended December 31, | ||||||||||
(Dollars in thousands) | 2025 | 2024 | 2023 | ||||||||
Cash flow from operations | $886,879 | $174,234 | $67,288 | ||||||||
Capital expenditures | 221,162 | 183,188 | 364,617 | ||||||||
Free cash flow | $665,717 | $(8,954) | $(297,329) | ||||||||
Year Ended December 31, 2025 | |||||||||||||||||||||||
$ in thousands (except metal sales and per ounce amounts) | Las Chispas1 | Palmarejo | Rochester | Kensington | Wharf | Silvertip | Total | ||||||||||||||||
Costs applicable to sales, including amortization (U.S. GAAP) | 295,897 | 228,672 | 278,397 | 218,349 | 123,486 | 3,903 | 1,148,704 | ||||||||||||||||
Amortization | (94,213) | (37,015) | (69,283) | (39,295) | (6,558) | (3,903) | (250,267) | ||||||||||||||||
Reported costs applicable to sales | 201,684 | 191,657 | 209,114 | 179,054 | 116,928 | — | 898,437 | ||||||||||||||||
Inventory adjustments | (1,590) | (911) | (2,195) | (949) | (467) | — | (6,1112) | ||||||||||||||||
By-product credit | — | — | — | (17) | (5,121) | — | (5,138) | ||||||||||||||||
Adjusted costs applicable to sales | 200,094 | 190,746 | 206,919 | 178,088 | 111,340 | — | 887,187 | ||||||||||||||||
Metal Sales | |||||||||||||||||||||||
Gold ounces | 58,251 | 100,723 | 60,612 | 105,682 | 96,764 | — | 422,032 | ||||||||||||||||
Silver ounces | 5,445,330 | 6,498,821 | 6,077,114 | — | 133,970 | — | 18,155,235 | ||||||||||||||||
Revenue Split | |||||||||||||||||||||||
Gold | 48% | 46% | 46% | 100% | 100% | — | |||||||||||||||||
Silver | 52% | 54% | 54% | — | — | — | |||||||||||||||||
Adjusted costs applicable to sales | |||||||||||||||||||||||
Gold ($/oz) | 1,649 | 871 | 1,570 | 1,685 | 1,151 | — | 1,347 | ||||||||||||||||
Silver ($/oz) | 19.11 | 15.85 | 18.39 | — | 17.69 | ||||||||||||||||||
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Appendix A − Certain Additional Information | |
Year Ended December 31, 2024 | ||||||||||||||||||||
$ in thousands (except metal sales and per ounce amounts) | Palmarejo | Rochester | Kensington | Wharf | Silvertip | Total | ||||||||||||||
Costs applicable to sales, including amortization (U.S. GAAP) | 240,473 | 195,904 | 185,958 | 104,853 | 3,235 | 730,387 | ||||||||||||||
Amortization | (44,979) | (41,293) | (28,201) | (6,487) | (3,235) | (124,195) | ||||||||||||||
Reported costs applicable to sales | 195,458 | 154,611 | 157,757 | 98,366 | — | 606,192 | ||||||||||||||
Inventory adjustments | (1,365) | (2,746) | (361) | (126) | — | (4,598) | ||||||||||||||
By-product credit | — | — | (72) | (6,405) | — | (6,333) | ||||||||||||||
Adjusted costs applicable to sales | 194,093 | 151,865 | 157,468 | 91,835 | — | 595,261 | ||||||||||||||
Metal Sales | ||||||||||||||||||||
Gold ounces | 108,783 | 38,345 | 95,361 | 98,327 | — | 340,816 | ||||||||||||||
Silver ounces | 6,796,715 | 4,389,378 | — | 232,728 | — | 11,418,821 | ||||||||||||||
Revenue Split | ||||||||||||||||||||
Gold | 50% | 42% | 100% | 100% | — | |||||||||||||||
Silver | 50% | 58% | — | — | — | |||||||||||||||
Adjusted costs applicable to sales | ||||||||||||||||||||
Gold ($/oz) | 892 | 1,663 | 1,651 | 934 | — | 1,203 | ||||||||||||||
Silver ($/oz) | 14.28 | 20.07 | — | 16.55 | ||||||||||||||||
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FAQ
What is Coeur Mining (CDE) asking shareholders to vote on at the 2026 Annual Meeting?
When and how will Coeur Mining hold its 2026 Annual Meeting (CDE)?
What notable corporate transactions does the Proxy Statement disclose for Coeur Mining (CDE)?
How did Coeur’s incentive programs perform for 2025, according to the Proxy Statement?
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