Emilie Schouten
Coeur MiningAbout Emilie Schouten
Emilie C. Schouten (age 46) is Senior Vice President & Chief Human Resources Officer at Coeur Mining (CDE). She joined Coeur in May 2013, was promoted to VP HR in May 2016, SVP HR in May 2018, and SVP & CHRO in May 2023. She has 20+ years of HR experience, beginning at General Electric (GE HR Leadership Program; six years as HR Manager) and later at Rexel as Director of Training & Development. Education: BA in Sociology (Michigan State University) and MS in Industrial Labor Relations (University of Wisconsin–Madison) . Company performance gating her incentives includes AIP corporate metrics across production, costs, adjusted EBITDA, strategic initiatives, and EHS; 2024 company AIP paid ~99% of target, and 2022–2024 PSUs paid at 57% of target reflecting mixed operational/ROIC outcomes with strong reserve/resource and GHG reductions; rTSR served as a modifier with no impact for 2022–2024 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Coeur Mining, Inc. | Director, Talent Acquisition & Development | May 2013–May 2016 | Built talent pipeline and development programs supporting growth initiatives |
| Coeur Mining, Inc. | Vice President, Human Resources | May 2016–May 2018 | Scaled HR systems and processes; supported operational expansion |
| Coeur Mining, Inc. | Senior Vice President, Human Resources | May 2018–May 2023 | Led HR through major projects and corporate change, positioning for CHRO role |
| Coeur Mining, Inc. | Senior Vice President & Chief Human Resources Officer | May 2023–present | Oversees global HR strategy aligned to safety, ESG, and operational objectives |
| General Electric | Manager, Human Resources | Not disclosed (six years) | Graduated GE HR Leadership Program; foundational HR leadership training |
| Rexel | Director of Training & Development | Not disclosed | Drove training programs at the world’s largest electrical distribution company |
External Roles
No public-company board service or external directorships disclosed for Ms. Schouten in Coeur’s 2025 Proxy Statement .
Fixed Compensation
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Base Salary ($) | 350,000 | 350,000 | 350,000 |
| Target AIP (% of Salary) | 75% | 75% | 75% |
Performance Compensation
Annual Incentive Plan (AIP) – 2024 Design and Payout
| Named Executive | 2024 Base Salary | Target AIP % | Company % Weighting | Individual % Weighting | Individual % Achievement | 2024 AIP Payout ($) |
|---|---|---|---|---|---|---|
| Emilie C. Schouten | $350,000 | 75% | 70% | 30% | 145% | $296,100 |
2024 corporate AIP structure used “5 x 20%” metrics: production, costs applicable to sales, adjusted EBITDA, strategic initiatives, and EHS scorecard . Company performance component paid ~99% of target in 2024 across NEOs .
Long-Term Incentive Plan (LTIP) – 2024 Grants and Structure
| Component | Metric | Weighting | Grant Detail | Vesting |
|---|---|---|---|---|
| PSUs (Grant 1) | 3-year ROIC | 50% | 17,022 (Threshold); 68,089 (Target); 136,178 (Max) PSUs; Grant-date FV $188,607 | Cliff vest after 3-year performance period ending 12/31/2026; rTSR modifier ±25% vs NYSE Arca Gold Miners Index |
| PSUs (Grant 2) | 3-year Growth in Inferred Resources | 50% | 17,022 (Threshold); 68,089 (Target); 136,178 (Max) PSUs; Grant-date FV $188,604 | Cliff vest after 3-year performance period ending 12/31/2026; rTSR modifier ±25% |
| Restricted Stock | Time-based | n/a | 90,784 shares; Grant-date FV $231,499 | 1/3 vest on 2/26/2025, 2/26/2026, 2/26/2027 |
2024 target LTIP award value for Schouten: 190% of base salary ($665,000) with 60% PSUs and 40% restricted stock .
Performance Share Outcomes (2012–2024 cycle disclosed; most relevant 2022–2024)
| Metric | Weighting | Target Framework | Result | Payout Impact |
|---|---|---|---|---|
| 3-Year ROIC | 30% (2022–2024 PSU design) | Threshold to 200% payout vs ROIC target grid | 13.8% ROIC; below threshold | 0% |
| Growth in Reserves & Resources | 30% | Weighted P+P (100%), M+I (75%), Inferred (50%) AgEqOz | +8.34% increase to 1,050M AgEqOz | 114% |
| Project: GHG Net Intensity Reduction | 20% | Reduction targets 20%–50% | 38% reduction | 114% |
| Project: Rochester Stage VI Production | 20% | AgEqOz target grid | 4.9M AgEqOz; below 85% threshold | 0% |
| rTSR Modifier | ±25% | Relative to NYSE Arca Gold Miners Index | Middle quartile; no change | 0% |
| Overall 2022–2024 PSU Payout for Schouten | n/a | Target award 78,853 shares; value $345,376 | 44,945 shares awarded; $246,400 realized | 71% of target value |
Equity Ownership & Alignment
Beneficial Ownership (as of March 5, 2025)
| Holder | Shares Beneficially Owned | Percent of Outstanding |
|---|---|---|
| Emilie C. Schouten | 409,743 | <1% of 638,384,526 outstanding |
Outstanding Equity Awards (as of December 31, 2024)
| Category | Count | Market/Payable Value ($) |
|---|---|---|
| Unvested Restricted Stock | 158,159 | $904,670 (at $5.72) |
| Unearned PSUs (unvested) | 327,424 | $1,872,865 (payable value basis) |
2024 Stock Vested
| Named Executive | Shares Acquired on Vesting (#) | Value Realized ($) |
|---|---|---|
| Emilie C. Schouten | 76,352 | $197,432 |
Vesting Schedules (Current Grants)
| Grant | Shares | Vesting Tranches |
|---|---|---|
| Restricted Stock (granted 2/21/2023) | 52,569 | 1/3 annually from 2/21/2024, 2/21/2025, 2/21/2026 |
| Restricted Stock (granted 2/27/2024) | 74,929 | 1/3 annually from 2/27/2025, 2/27/2026, 2/27/2027 |
| Restricted Stock (granted 2/26/2025) | 90,784 | 1/3 annually from 2/26/2026, 2/26/2027, 2/26/2028 |
| PSUs (2024 grants) | Two tranches at target 68,089 each | Cliff-vest at 12/31/2026; rTSR ±25% |
Alignment Policies
- Stock ownership guidelines: “Other Executives” must hold 2x base salary; executives have five years to comply; CLD Committee determined each executive has met or is within the compliance period .
- Insider policies: Hedging prohibited; no holding in margin accounts; pledging Coeur securities prohibited for directors and executive officers .
- Clawback: Dodd-Frank-compliant recovery of incentive compensation for restatements; additional misconduct-based recoupment spans prior three years .
Employment Terms
| Provision | Terms |
|---|---|
| Employment Agreement | Only CEO has an employment agreement; other NEOs (including Schouten) are covered by Executive Severance Policy |
| Severance (Change-in-Control) | Double-trigger: upon qualifying termination without cause or for good reason within 90 days before or two years after a CIC, lump-sum of 2x base salary + target AIP; 18 months of healthcare; accelerated vesting per award terms |
| Schouten – CIC Termination (as of 12/31/2024) | Cash: $1,225,000; Benefits PV: $27,381; Accelerated Equity: $2,423,437; Total: $3,675,817 |
| Schouten – Involuntary (not for cause, non-CIC) | Cash: $1,225,000; Benefits PV: $17,919; Total: $1,242,919 |
| Schouten – Death/Disability | Accelerated Equity: $2,778,107 |
| Tax/Governance | No excise tax gross-ups; no single-trigger cash severance; no option/SAR repricing without stockholder approval |
| Equity Vesting Standard | Double-trigger acceleration under LTIP requires CIC + qualifying termination |
Compensation Structure Analysis
- Mix and risk: A substantial majority of 2024 executive pay is variable and “at risk,” with PSUs (60% of LTIP) tied to ROIC and inferred resource growth and an rTSR modifier; restricted stock (40%) vests ratably over three years for retention .
- AIP rigor: 2024 AIP metrics balanced between production, cost discipline, adjusted EBITDA, strategic initiatives, and EHS; CEO 100% corporate; NEOs include individual goals; Schouten’s individual performance was 145% of target, with total AIP payout $296,100 .
- PSU outcomes: 2022–2024 PSU payout 57% overall, driven by 0% ROIC and Rochester VI production, offset by 114% payouts for reserves/resources growth and GHG net intensity reduction; rTSR modifier did not adjust results .
- Peer benchmarking: 2024 peer group comprises precious-metals miners; compensation positioning informed by consultant market assessments .
Related Party Transactions and Risk Indicators
- Hedging/pledging: Prohibited for executives; reduces misalignment/credit risk from pledged shares .
- Clawback: Robust recovery policy for restatements and misconduct .
- Say-on-Pay: 96% approval at 2024 meeting, signaling investor support for pay program .
Compensation Committee and Governance
| Committee | Members | Notes |
|---|---|---|
| Compensation & Leadership Development (CLD) Committee | J. Kenneth Thompson (Chair); Linda L. Adamany; Jeane L. Hull; Robert E. Mellor | Oversees CD&A; uses independent compensation consultant; annually reviews peer data |
Equity Ownership & Selling Pressure Indicators
- Upcoming vesting tranches: Restricted stock 1/3 tranches in Feb 2026 and Feb 2027 (for 2024 and 2025 grants) may create periodic liquidity windows; PSUs for 2024 grants cliff-vest at year-end 2026 subject to performance and rTSR modifier .
- Unvested overhang: 158,159 restricted shares and 327,424 unearned PSUs outstanding at YE 2024; market/payable values indicate meaningful potential future deliveries contingent on service/performance .
- Company-wide stock-based comp: As context, CDE reported $20.8M unrecognized stock-based comp with 1.7 years weighted-average remaining vesting, implying broader vesting cadence across the enterprise; not executive-specific .
Performance & Track Record
- Strategic initiatives: AIP payout at ~99% of target cited strong gold production/costs, EHS performance, and completion of key initiatives including the SilverCrest acquisition .
- Execution risk: PSU underperformance on ROIC and Rochester Stage VI underscores operational and capital discipline challenges in the period, balanced by exploration-driven resource growth and GHG reductions .
Investment Implications
- Alignment: Schouten’s pay emphasizes multi-year performance with double-trigger equity acceleration and strict anti-pledging/hedging policies; ownership guidelines at 2x salary support skin-in-the-game, with compliance confirmed by the CLD Committee .
- Retention risk: Restricted stock tranches through 2027 and PSU cliffs at 2026 create retention hooks; CIC severance at 2x salary+target AIP is competitive but not excessive, limiting jump risk during corporate events .
- Trading signals: The 2026 PSU cliff and annual restricted vest dates may coincide with potential Form 4 activity windows; monitor for 10b5-1 plans and any concentration of vesting-related sales. No pledging allowed reduces forced-selling risk, while clawback and governance standards mitigate downside from restatements or misconduct .
- Execution watchouts: Mixed PSU outcomes (0% ROIC and Rochester metrics) highlight continued focus on operating ROIC and project delivery; AIP structure ties cash payouts to adjusted EBITDA and strategic milestones, aligning near-term incentives with value creation .