Ian Ball
McEwenAbout Ian Ball
Ian J. Ball is 43 and has served as a Director of McEwen Mining Inc. (NYSE: MUX) since 2022; he is independent under NYSE rules, a member of the Audit Committee, and Chair of the Disclosure Committee. Ball’s background includes leading Abitibi Royalties Inc. as President & CEO (2014–2021) and prior executive roles at McEwen Mining; he holds degrees from Ryerson University and Durham College . Company performance during Ball’s board tenure shows Company TSR values of $46.14 (2022), $73.20 (2023), and $78.98 (2024), with Net Income of -$81.08M (2022), $55.30M (2023), and -$43.69M (2024), and AISC per ounce of $1,687.88 (2022), $1,615.30 (2023), and $1,799.15 (2024) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Abitibi Royalties Inc. | President & CEO; Director | 2014–2021 | Led gold royalty company through to acquisition; sector expertise in precious metals |
| McEwen Mining Inc. | President and other executive officer capacities; executive roles at certain subsidiaries | Not disclosed | Operational leadership experience within MUX prior to director service |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Abitibi Royalties Inc. | Director | 2014–2021 | Board oversight in royalty business until company was acquired |
Fixed Compensation
| Component | 2024 Amount (USD) | Notes |
|---|---|---|
| Annual Director Retainer | $40,000 | Standard non-employee director retainer |
| Committee Fees | Range $2,000–$10,000 | Depends on committee and whether Chair |
| Ian Ball — Total Director Fees (Cash) | $47,500 | 2024 fees earned or paid in cash; no stock or option awards in 2024 |
Performance Compensation
- Company identifies performance metrics used for pay-versus-performance disclosures: All-in Sustaining Costs (AISC), Reserve/Resource Replacement Ratio, and Production vs Guidance .
- For Ian Ball as a director, weighting, targets, payouts, and vesting for performance-based awards are not disclosed; directors may receive long-term incentive equity awards, but Ball had no equity grants reported for 2024 in the director compensation table .
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| AISC | Not disclosed | Not disclosed | Company AISC values disclosed (see Pay vs Performance) | Not disclosed | Not disclosed |
| Reserve/Resource Replacement Ratio | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
| Production vs Guidance | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
Equity Ownership & Alignment
| Item | Value | Detail |
|---|---|---|
| Beneficial Ownership (Ian Ball) | 9,322 shares | Includes 6,666 options exercisable within 60 days |
| % of Shares Outstanding | <1% | Shares outstanding: 53,934,510 as of Apr 28, 2025 |
| Options — Exercisable within 60 days | 6,666 | Footnote confirms exercisable count; exercise prices/expirations for director grants not detailed in the table |
| Hedging/Short Sales Policy | Prohibited | Insider Trading & Disclosure Policy prohibits short sales (except in connection with option exercises), options trading, and hedging |
| Stock Ownership Guidelines | None | No requirement for executives or directors to own shares; equity ownership is encouraged but not mandated |
| Pledging | Not disclosed | No pledge-related change-in-control arrangements noted; pledge status for Ball not specifically disclosed |
Employment Terms
| Term | Disclosure |
|---|---|
| Employment Agreement | Not applicable for non-employee directors; no director employment contract disclosed for Ball |
| Severance / Change-of-Control | Not disclosed for directors; executive severance provisions exist for certain executives, but none disclosed for Ball |
| Clawback Provisions | Not disclosed |
| Non-Compete / Non-Solicit | Not disclosed for directors |
Board Governance
| Attribute | Detail |
|---|---|
| Board Service | Director since 2022; age 43; independent |
| Committees | Audit Committee (member); Disclosure Committee (Chair) |
| Committee Chair Positions | Chair, Disclosure Committee |
| Independence Status | Independent (all directors except CEO McEwen and COO Shaver are independent) |
| Board Leadership | CEO also serves as Chairman; board determined combined role suitable; presiding director for independent sessions is Audit Committee Chair (Brissenden) |
| Executive Sessions Frequency | Non-management directors met four times in 2024 |
| Meeting Attendance | No director attended less than 75% of meetings in 2024 (including committee meetings) |
| Director Compensation | Standard cash retainer and committee fees; Ball total $47,500 (2024) |
Performance & Track Record
| Period | Company TSR Value ($100 initial) | Peer Group TSR (NYSE Composite) | Net Income (USD Millions) | AISC per ounce (USD) |
|---|---|---|---|---|
| 2022 | $46.14 | $109.14 | -$81.08 | $1,687.88 |
| 2023 | $73.20 | $116.03 | $55.30 | $1,615.30 |
| 2024 | $78.98 | $131.48 | -$43.69 | $1,799.15 |
- Major achievements: Led Abitibi Royalties Inc. as President & CEO until its acquisition (2014–2021), bringing royalty and precious metals expertise to MUX’s board .
- Execution risk factors: Company-level net losses in 2022 and 2024 and rising AISC in 2024 suggest cost discipline and operational delivery are key focus areas; Ball’s Audit and Disclosure roles tie directly to financial integrity and investor communications .
Director Compensation
| Component | Policy / Amount |
|---|---|
| Annual Retainer (Non-Employee Directors) | $40,000 (cash) |
| Committee Membership Fees | $2,000–$10,000 annually; higher for Chairs |
| Equity Grants | Allowed under long-term incentive framework, but none reported for Ball in 2024 director table |
| Attendance Policy | ≥75% attendance achieved by all directors in 2024 |
| Ownership Guidelines | None mandated for directors |
Compensation Structure Analysis
- Cash vs Equity Mix: Ball’s 2024 director compensation was entirely cash ($47,500), with no equity grants in the director table—conservative mix reduces immediate alignment via equity but avoids forced selling pressure .
- Guaranteed vs At-Risk Pay: Director fees are fixed retainers plus committee fees; no disclosed performance-based payouts for directors .
- Equity Award Practices: Company-wide stock options require minimum three-year vesting beginning one year from grant date; long-term equity awards are used broadly, but not shown for Ball in 2024 .
- Hedging Policy: Prohibition on hedging and short sales supports alignment, reducing risk of misaligned incentives .
Related Party Transactions
- No related party transactions disclosed involving Ian Ball; the audit committee oversees related party transaction approvals and governance .
Compensation Peer Group (Benchmarking)
- Pay-versus-performance peer comparator for TSR is NYSE Composite Index; compensation benchmarking peer group specifics for directors are not disclosed .
Say-on-Pay & Shareholder Feedback
- Say-on-Pay last approved in 2022; next advisory vote scheduled in 2025 per proxy; no material changes to executive compensation program since 2022 .
Expertise & Qualifications
- Education: Degrees from Ryerson University and Durham College .
- Industry Experience: Precious metals exploration and royalty businesses across North and South America; prior executive roles at MUX .
- Board Qualifications: Audit Committee member and Chair of Disclosure Committee; independence and experience in investor communications .
Equity Ownership & Vesting Details
| Category | Detail |
|---|---|
| Shares Owned | 9,322 (includes options exercisable within 60 days) |
| Options — Exercisable Within 60 Days | 6,666 |
| Shares Outstanding | 53,934,510 (as of Apr 28, 2025) |
| Ownership Guidelines | None required; equity ownership encouraged |
| Hedging/Short Sales | Prohibited for directors and employees |
Employment Terms
- No director-specific employment agreement, severance, or change-of-control terms disclosed for Ball; such provisions are discussed for certain executives only .
Board Service History & Independence Notes
- Ball has served since 2022, is independent, and holds dual responsibilities across Audit and Disclosure (committee chair) functions. CEO also serves as Chairman, with the presiding director for independent sessions being the Audit Committee Chair (Brissenden), which mitigates some CEO/Chair concentration concerns; executive sessions occurred four times in 2024 .
Investment Implications
- Alignment: Ball’s stake is small (<1%); prohibitions on hedging/short sales help maintain alignment, but absence of ownership guidelines reduces enforced skin-in-the-game .
- Governance Signal: Chairing the Disclosure Committee and serving on Audit supports stronger disclosure controls and financial oversight—positive for information quality and risk management .
- Trading Pressure: No director equity grants in 2024 and modest option overhang (6,666 exercisable within 60 days) imply limited near-term insider selling pressure specific to Ball; company-wide equity option vesting is three-year minimum, which generally staggers supply .
- Execution Risk: Company net losses in 2022 and 2024 and higher AISC in 2024 point to ongoing cost and operational delivery challenges; Ball’s board roles are leveraged toward improving financial integrity and investor communications rather than direct operational control .