Stephani Terhorst
About Stephani Terhorst
Stephani Terhorst is Vice President, Human Resources at Ivanhoe Electric (IE), serving as an executive officer since March 2023; she is 46 and brings over 25 years of HR leadership, largely in coal and aggregates mining, with certifications as a Certified Employee Benefits Specialist, Professional in Human Resources, and Group Benefits Associate, and degrees in HR Management (University of Pittsburgh) and an MS in HR & Industrial Relations (St. Francis University) . During her tenure period, IE’s disclosed pay-versus-performance snapshot shows a $100 initial investment TSR value of $134.85 (2022) and $111.88 (2023), alongside net losses of $160.2M (2022) and $216.1M (2023), providing context for incentive alignment and corporate performance during early-stage project development . IE reports continued focus on executive gender diversity, with four women in senior executive positions (36%), reinforcing HR priorities on inclusion and pipeline development .
Company performance snapshot
| Metric | 2022 | 2023 |
|---|---|---|
| Value of $100 Investment (TSR) | $134.85 | $111.88 |
| Net Income (Loss) ($USD) | ($160,221,000) | ($216,075,000) |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| NACCO Industries (coal producer) | Senior Director, Human Resources & Benefits | Since 2016 | Led HR/benefits for mining operations, informing IE’s HR policy design |
| Jennmar Corporation (underground mining products) | Director of Human Resources | Not disclosed | HR leadership supporting industrial workforce and benefits practices |
External Roles
No public-company directorships or external board roles are disclosed for Terhorst in IE’s proxy materials .
Fixed Compensation
Not disclosed for Terhorst; IE’s Summary Compensation Tables list only Named Executive Officers (NEOs), excluding the VP, Human Resources .
Performance Compensation
IE’s enterprise-wide executive incentive framework (applicable to executive officers and administered by the Compensation & Nominating Committee) emphasizes pay-for-performance; individual grant details for Terhorst are not disclosed .
- Short-Term Incentive Plan (STIP): Target 100% of base salary; awards are based on performance goals (Health/Safety/Environment, operational execution, corporate development) .
- Long-Term Incentive Plan (LTIP): Target 200% of base salary; equity awards typically vest over multi-year horizons to promote retention; 2024 LTIP options carried a $13.50 exercise price; options vest ratably over three years .
- PSU Program (approved in 2024; used for 2025 awards): Three-year cliff vesting; payout determined by relative TSR vs a Base Metals Index (0x below 25th percentile; 1.0x at 50th; 2.0x at 75th; linear between) .
| Metric | Weighting/Target | Actual/Payout | Vesting |
|---|---|---|---|
| STIP (annual) | Target = 100% of base; goals: HSE, operational, corporate development | Determined by Committee; not disclosed for Terhorst | Cash; timing set annually |
| LTIP stock options | Target = 200% of base; exercise price not below grant-date close | Company-wide grants approved out of blackout; not disclosed for Terhorst | Ratable over 3 years |
| PSUs (rTSR) | rTSR vs Base Metals Index (25th–75th percentile band) | 0–2x payout; not disclosed for Terhorst | 3-year cliff |
Equity Ownership & Alignment
- Stock Ownership Guidelines: Other Executive Officers must hold IE common stock equal to 2× annual base salary, to be attained within 36 months of January 1, 2024 (or appointment) and maintained thereafter; dispositions before compliance are discouraged .
- Clawback: Three-year mandatory clawback of erroneously awarded incentive compensation after an accounting restatement, per SEC/NYSE rules; no indemnification allowed .
- Insider Trading/Blackouts & Pre-clearance: Trades restricted during quarterly blackout periods; all transactions must be pre-cleared; company may impose additional blackout windows .
- Hedging & Short Sales: Hedging of IE securities prohibited; short sales prohibited, including Section 16(c) constraints .
- Margin/Pledging: Purchasing IE shares on margin and pledging IE securities as loan collateral are prohibited (reduces forced-selling risk) .
- Beneficial Ownership Disclosure: IE reports beneficial ownership for directors/NEOs; Terhorst’s individual share count is not separately disclosed; group ownership totaled 16,544,986 shares as of March 11, 2025 .
| Alignment Factor | IE Policy | Terhorst Status |
|---|---|---|
| Ownership multiple | 2× base salary for Other Executive Officers | Not disclosed |
| Clawback | Mandatory 3-year recovery post-restatement | Applies to executive officers |
| Hedging | Prohibited | Applies to executive officers |
| Short sales | Prohibited (incl. Section 16(c)) | Applies to executive officers |
| Margin/pledging | Prohibited | Applies to executive officers |
| Blackouts/pre-clearance | Required | Applies to executive officers |
Employment Terms
IE’s proxy discloses employment agreements and severance economics for certain NEOs, but does not disclose Terhorst-specific employment terms. Company-wide policies governing ownership, clawback, insider trading, blackout period compliance, and anti-hedging/pledging apply to executive officers including the VP, Human Resources .
Investment Implications
- Strong alignment architecture but limited individual disclosure: IE’s ownership multiples, anti-hedging/pledging, clawback, blackout/pre-clearance, and PSU rTSR design support alignment and reduce insider-selling and leverage risks; however, Terhorst’s individual grants and ownership are not disclosed, constraining pay-for-performance and retention-risk assessment at the person level .
- Diversity and HR execution: IE’s stated commitment to gender diversity at the executive level (36% women) and formation of the HSE Committee indicate governance emphasis aligned with HR mandates; this may reduce execution risk in workforce scaling and ESG reporting as projects progress from exploration to feasibility and development .
- Company performance context: Early-stage mining portfolio and project progression correlate with the TSR and net loss figures disclosed; incentive frameworks (STIP/LTIP/PSUs) are structured to reward operational milestones and market-relative performance, but person-specific payouts for Terhorst are not available, limiting direct trading signals tied to her compensation or ownership .