Monique Hayes
About Monique Hayes
Corporate Secretary of Idaho Strategic Resources (IDR), appointed November 20, 2016; age 59 as of May 2, 2025. Background spans 19+ years in corporate governance and investor relations at NYSE/TSX-listed mining issuers (Revett Mining, Sterling Mining) and stakeholder communications at Hecla Mining; earlier advertising roles at Publicis Dialog Direct and White Runkle Associates. Education: attended City University with studies in business management, brand strategy, and communications . Company performance context during her tenure: total shareholder return (TSR) increased to $132.47 by 2024 and net income rose to $8.75M (from a loss in 2022), reflecting improved operations and gold prices . Revenue advanced from $9.58M in FY2022 to $25.77M in FY2024, and EBITDA improved from negative in FY2022 to positive by FY2024 (see table below; EBITDA values from S&P Global)* .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Revett Mining Company | Corporate Secretary; Director of Investor Relations | Not disclosed | Governance and investor communications for a listed mining issuer |
| Sterling Mining Company | Corporate Secretary; Director of Investor Relations | Not disclosed | Investor relations and board support at TSX/NYSE-listed miner |
| Hecla Mining Company | Stakeholder communication for Rock Creek project | Not disclosed | Community and stakeholder engagement for permitting-sensitive asset |
| Publicis Dialog Direct | Advertising/communications (national accounts) | Not disclosed | Brand and communications for AT&T Wireless, Bell Atlantic, NordicTrack |
| White Runkle Associates | Advertising/communications (national accounts) | Not disclosed | Campaigns for national consumer/telecom accounts |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| None disclosed in SEC filings | — | — | — |
Fixed Compensation
Not disclosed for Corporate Secretary (Monique Hayes) in IDR’s proxy NEO tables; the Company highlights named executive officer (CEO, CFO, VP Exploration) pay and states no retirement plan or severance/change-in-control arrangements for executive officers generally .
Performance Compensation
2025 One-time Option Grant (Company-wide; includes Corporate Secretary)
| Grant Date | Instrument | Quantity | Exercise Price | Vesting | Expiration | Notes |
|---|---|---|---|---|---|---|
| January 15, 2025 | Stock Options | 13,000 | $11.50 | Equal amounts bi-annually | 3 years from grant date | Granted under 2023 Equity Incentive Compensation Plan; priced at 10% premium to prior close |
- Performance metrics tied to this grant: None disclosed (time-based vesting; not PSU/RSU performance-linked) .
- Plan treatment on change-in-control: Committee has discretion to accelerate vesting, cash out, continue or substitute awards; “change in control” definition includes >50% acquisition, 30% within 12 months, board majority replacement, or sale of substantially all assets .
Equity Ownership & Alignment
Beneficial Ownership — Shares and % of Class
| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Shares Owned | 48,621 | 48,621 | 35,416 |
| Percent of Class | 0.37% | 0.37% | 0.25% |
| Shares Pledged | None | — | None |
Options — Exercisable Positions
| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Presently Exercisable Options | 24,429 | 24,429 | Not disclosed; footnote shows only shares |
- 2025 grant: 13,000 options at $11.50, bi-annual vesting; likely creates semi-annual supply events upon vesting and a hard expiration ~January 2028 .
- Stock ownership guidelines: not detailed in proxies for officers; no pledging by officers disclosed .
Employment Terms
- Employment agreements: None for named executive officers; Company states no agreements providing payments on resignation, retirement, termination, or change in control for executive officers .
- Change-in-control economics: Equity plan permits Committee discretion to accelerate or cash-out awards on change-in-control (no single/double-trigger cash severance described) .
- Clawback: Policy for recovery of erroneously awarded compensation filed with 2023 Form 10-K; no recoveries to date .
- Non-compete/non-solicit/garden leave: Not disclosed.
- Tax gross-ups/perquisites/deferrals/pension/SERP: No retirement plan for executive officers; other items not disclosed .
Company Performance Context (for Pay-for-Performance lens)
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues (USD) | $9.58M | $13.66M | $25.77M |
| EBITDA (USD) | -$1.49M* | $2.48M* | $10.40M* |
| Net Income (USD) | -$2.54M* | $1.16M | $8.84M |
| TSR (Value of $100 initial investment) | $74.10 | $82.29 | $132.47 |
- EBITDA and FY2022 Net Income values marked with an asterisk are Values retrieved from S&P Global.
Investment Implications
- Alignment: The January 2025 13,000 option grant at a 10% premium strike and bi-annual vesting aligns the Corporate Secretary with long-term shareholder outcomes; expect potential incremental selling or withholding at each vest tranche and a firm expiry ~Jan 2028 .
- Low parachute risk: Absence of severance/change-in-control cash arrangements for executive officers reduces parachute overhang; equity may be accelerated at Committee discretion under change-in-control, but no guaranteed cash multiples are disclosed .
- Ownership trend: Monique’s disclosed shares decreased from 48,621 (2023/2024) to 35,416 (2025), while 2025 footnotes show no currently exercisable options; monitor Form 4s for exercises or sales to assess near-term supply and retention signals .
- Governance safeguards: Clawback policy exists; no pledging disclosed—both supportive of investor alignment .
- Performance backdrop: Material improvement in net income and TSR from 2022–2024 supports pay-for-performance narratives; however, her specific cash compensation is not disclosed, limiting granular assessment of individual pay alignment .