Jack Henris
About Jack Henris
Jack Henris, 61, was appointed President and Chief Operating Officer of Dakota Gold Corp. effective June 1, 2025. He holds a B.S. in Geological Engineering from the South Dakota School of Mines and Technology and brings 35+ years of operating and project leadership across heap leach and underground gold mines at Hycroft (COO), Newmont (GM/Mine Manager/Chief Mine Engineer), Barrick (Goldstrike), Goldcorp (VP Mining & Geotechnical), Stantec (Senior Mining Consultant), and Homestake (Open Cut, exploration/technical roles) . He was hired to lead the Richmond Hill heap leach project through feasibility, permitting and into construction, leveraging deep local experience in the Homestake District . His appointment is recent; there are no disclosed TSR/revenue/EBITDA outcomes under his tenure yet. Dakota Gold’s long-term incentive design has historically included PSUs tied to relative TSR versus the MVIS Global Junior Gold Miners Index, indicating an emphasis on shareholder-aligned performance measurement .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Hycroft Mining | Chief Operating Officer | — | Operated large-scale oxide heap leach; COO experience relevant to Richmond Hill . |
| Newmont Mining (NV, CO) | General Manager, Mine Manager, Chief Mine Engineer | 12 years | Led open pit oxide heap leach developments; multi-site operating leadership . |
| Barrick (Goldstrike, NV) | Senior operational and technical roles | 9 years | Designed/operated open pit oxide heap leach developments; Tier-1 asset exposure . |
| Goldcorp (Vancouver, BC) | Vice President, Mining & Geotechnical | — | Corporate mining/geotech leadership; major producer best practices . |
| Stantec (Chandler, AZ) | Senior Mining Consultant | — | Technical consulting across mine design and operations . |
| Homestake Mining Company | Open Cut (5 yrs), exploration/technical roles | 8 years | Direct Homestake District experience (Lead, SD) foundational to Dakota Gold assets . |
External Roles
- None disclosed for Mr. Henris in SEC filings at the time of appointment .
Fixed Compensation
| Component | Terms | Effective/Grant Timing | Notes |
|---|---|---|---|
| Base Salary | $300,000 per year | Effective June 1, 2025 | Annual review by Board/Committee . |
| Sign-on Cash Bonus | $100,000 (one-time) | Granted in connection with appointment | One-time cash payment . |
Performance Compensation
Annual Bonus
| Metric | Target Opportunity | Performance Metrics | Payout | Vesting/Timing |
|---|---|---|---|---|
| Annual Discretionary Bonus | At least 60% of base salary | Performance goals set by Compensation Committee/Board | Not disclosed | Paid per annual plan . |
Long-Term Incentives (Initial Award Package)
| Instrument | Grant Size | Vesting | Term/Exercise | Performance Link |
|---|---|---|---|---|
| RSUs | 150,000 units (one-time) | 3 equal tranches in 2026, 2027, 2028 | Settle in shares per plan | Time-based; no explicit performance metric disclosed for this grant . |
| Stock Options | 300,000 options (one-time) | 3 equal tranches in 2026, 2027, 2028 | 5-year term; exercise price set per standard practices | Time-based; option value levered to stock price . |
| LTIP Opportunity (ongoing) | At least $425,000 per year | As determined by Committee | Standard plan terms | Structure/metrics to be set; historically, DC PSUs use relative TSR vs MVIS Junior Gold Miners Index . |
Notes on performance metrics:
- Company PSUs vest between 0–200% of target based on relative TSR vs MVIS Global Junior Gold Miners Index under the 2022 Plan (illustrated in incumbent NEO awards), signaling focus on market-relative returns . No PSU was disclosed in Henris’s initial grant package .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial Ownership | Not listed in the March 14, 2025 DEF 14A ownership table (appointment occurred after record date); no share count disclosed there . |
| New-Hire Equity | 150,000 RSUs vesting 2026–2028; 300,000 options vesting 2026–2028; options have 5-year term . |
| Vested vs. Unvested | All new-hire RSUs/options initially unvested; vesting begins 2026 . |
| Hedging/Shorting Policy | Company prohibits short sales and hedging by officers/directors/employees; Rule 10b5-1 plans governed by policy . |
| Pledging | No pledge disclosures for Henris; policy expressly prohibits hedging/shorting; pledging not referenced . |
| Ownership Guidelines | Not disclosed for executives in cited filings. |
Vesting over 2026–2028 may create periodic supply as tranches settle; trades are nonetheless subject to blackout windows and the insider trading policy .
Employment Terms
| Term | Key Points |
|---|---|
| Employment Type | At-will; either party may terminate; company requests 30 days’ notice from executive . |
| Severance Eligibility | Eligible to participate in Dakota Gold Executive Severance Plan (terms not filed here) . |
| Location/Remote | Principal office Lead, SD; remote work permitted by agreement; travel required . |
| Governing Law | South Dakota; forum/jurisdiction per agreement . |
| D&O/Liability | Indemnification and D&O insurance coverage per Company policies . |
| Change-in-Control (Equity) | Under 2022 Stock Plan: time-based awards vest in full; performance awards vest at target upon a change in control (unless otherwise determined) . |
Track Record and Execution Context
- Mandate and strategy: Brought in to guide Richmond Hill through feasibility, permitting, and construction; role leverages his heap leach operating background and Homestake local experience .
- Operating pedigree: Senior leadership across Newmont, Barrick (Goldstrike), Hycroft, Goldcorp, Stantec; extensive oxide heap leach and underground experience .
Compensation Structure Analysis
- Cash vs. equity mix: New-hire package balances modest sign-on cash ($100k) with multi-year equity (RSUs/options) to anchor retention and alignment through 2028 vesting .
- Risk profile: Shift toward time-based RSUs and options for initial grant; no PSUs disclosed for 2025 grant, though DC historically uses PSU-TSR for NEOs (potential future inclusion) .
- Change-in-control: Equity is single-trigger under the 2022 Plan (accelerates at CoC), which increases retention risk in sale scenarios but aligns with many small-cap mining peers .
Related Policies, Red Flags, and Controls
- Hedging/shorting prohibited; Rule 10b5-1 governed; Section 16 filings timely per 2024/2025 DEF 14A representations . No clawback or pledging policy disclosure in the cited filings .
- No related-party transactions involving Henris disclosed upon appointment; no family relationships with officers/directors .
Investment Implications
- Alignment: Multi-year RSU/option schedule (2026–2028) aligns Henris with value creation through feasibility, permits, and potential construction start at Richmond Hill; annual bonus target of at least 60% of salary adds near-term performance leverage .
- Retention/trading pressure: Vesting cadence can introduce selling overhang beginning 2026, moderated by blackout policies; single-trigger CoC acceleration increases sale-event optionality for management, potentially diluting post-deal retention .
- Execution edge: Direct heap leach operating background (Barrick/Newmont/Hycroft) and Homestake familiarity reduce execution risk for Richmond Hill’s development pathway and interfaces with local stakeholders and regulators .
- Monitoring priorities: Upcoming filings for (i) Severance Plan specifics (multiples, double-trigger), (ii) 2025–2026 LTIP design (whether PSUs return with TSR metrics), and (iii) initial Form 4s for grant dates/exercise prices and any 10b5-1 plan adoption .
Citations:
- Appointment, compensation terms, bio and leadership changes: .
- Company insider trading policy and hedging restrictions: .
- Equity plan change-in-control treatment and PSU (relative TSR) structure: .
- 2025 DEF 14A ownership table (record date before Henris’s start): .