HYMC · 10-Q · 2026Q1 · Full report

Stock-based Compensation Impact

HYCROFT MINING HOLDING CORP · 2026-04-28 · Importance 83 · Surprise 82

Discretionary restricted stock unit Make‑whole Awards were a principal driver of increased costs: $24.1 million of Make‑whole Awards were recorded in general and administrative expense in Q1 2026 (of which $15.5 million was non‑cash). Exploration and development included $2.3 million of Make‑whole Awards (of which $1.5 million was non‑cash) and mine site costs included $2.5 million of Make‑whole Awards (of which $1.6 million was non‑cash). The Company also awarded a one‑time $4.5 million cash bonus to named executive officers and certain employees in recognition of 2025 financings. Stock‑based compensation totaled $19.1 million as the largest non‑cash item reconciling net loss to cash used in Q1 2026.

Key facts

• Make-whole Awards totaled $24.1 million, of which $15.5 million was non-cash, and were a primary driver of increased General and administrative costs in Q1 2026.
• The largest non-cash item included in net loss for the three months ended March 31, 2026 was stock-based compensation of $19.1 million.
• During Q1 2026 the largest non-cash item in net loss was stock-based compensation which contributed $19.1 million to non-cash adjustments.
• Restricted stock unit Make-whole Awards accounted for $2.3 million of Exploration and development costs in Q1 2026, of which $1.5 million was non-cash.
• Restricted stock unit Make-whole Awards accounted for $2.5 million of Mine site costs in Q1 2026, of which $1.6 million was non-cash.

Impact estimates