Jim Sims
About Jim Sims
Jim Sims is Chief Communications Officer at NioCorp Developments Ltd. (NB) with 30+ years in marketing, media, public affairs, and investor relations across mining, chemicals, utilities, and renewables. He joined NioCorp in November 2015, transitioned to Chief Communications Officer effective June 7, 2022, and is age 63 as of January 30, 2025 . He is an honors graduate of Georgetown University, previously led Policy Communications, and held senior communications roles at Molycorp; additional public service roles include White House Director of Communications for the Energy Policy Development Group and U.S. Senate Chief of Staff . Company pay-versus-performance disclosures show TSR values of $12.72, $36.84, and $53.30 for a fixed $100 investment across FY2024, FY2023, and FY2022, alongside net losses of $(11.4)mm, $(40.1)mm, and $(10.9)mm respectively, providing context for performance alignment during his tenure .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Policy Communications, Inc. | President & CEO | 1998–2010 | Built communications consultancy serving industrial/energy sectors |
| Molycorp | Director → Vice President, Corporate Communications | Mar 2010–Nov 2015 | Led corporate/investor communications through commodity cycles |
| NioCorp | Vice President, External Affairs | Nov 2015–Jun 7, 2022 | Established investor/public relations; transitioned to CCO |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| IBC | Director of Investor & Public Relations | Since May 2016 | Ongoing investor relations leadership |
| White House Energy Policy Development Group | Director of Communications | Not disclosed | Policy communications leadership at federal level |
| U.S. Senate | Chief of Staff | Not disclosed | Senior legislative operations/communications |
| Geothermal Energy Association | Co‑founder & Executive Director | Not disclosed | Industry formation and advocacy |
| Rare Earth Technology Alliance | Board Chairman | Not disclosed | Sector governance/industry coordination |
Fixed Compensation
| Metric | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 |
|---|---|---|---|---|---|
| Salary ($) | $200,000 | $200,000 | $200,000 | $216,667 | $220,000 |
| Option Awards ($) | $122,269 | $37,583 | $56,909 | $0 | $52,910 |
| Total ($) | $322,269 | $237,583 | $256,909 | $216,667 | $272,910 |
Notes:
- NioCorp used stock options as the primary long-term vehicle in these years; no RSUs/PSUs disclosed for Sims in these periods .
Performance Compensation
| Grant Date | Instrument | # Options | Exercise Price | Term | Vesting Schedule / Performance Conditions |
|---|---|---|---|---|---|
| Jan 19, 2016 | Stock Options | 500,000 | C$0.62 | 5 years | 50% at 6 months, 25% at 12 months, 25% at 18 months; 100% vested; typical plan schedule applies |
| Mar 6, 2017 | Stock Options | 400,000 | C$0.76 | 5 years | 50%/25%/25% over 18 months; 100% vested |
| Nov 9, 2017 | Stock Options | 300,000 | C$0.47 | 5 years | Standard vesting; fully vested |
| Nov 15, 2018 | Stock Options | 350,000 | C$0.54 | 5 years | 50%/25%/25% over 18 months; fully vested |
| Dec 14, 2020 | Stock Options | 250,000 | C$0.75 | 3 years | Fully vested; 3-year term |
| Dec 17, 2021 | Stock Options | 300,000 | C$1.36 | 3 years | Fully vested; 3-year term |
- Plan governance permits RSUs/PSUs and explicit clawbacks as amended in Jan 2024 (2017 Amended LTIP), but Sims’ disclosed awards are options; no specific performance metric weightings/targets/payouts tied to his equity were disclosed .
- General vesting under historical plans: options vest 50% at six months, 25% at 12 months, balance at 18 months; options typically remain exercisable up to five years (or three years in later grants) .
Equity Ownership & Alignment
| Snapshot Date | Common Shares Owned | Vested Options | Total Beneficial Ownership | % of Shares Outstanding |
|---|---|---|---|---|
| Sep 29, 2017 | 708,419 (incl. exercisable within 60 days) | See footnotes (375k exercisable; 125k unexercisable at FY2017) | 708,419 | 0.35% (out of 204,518,956) |
| Oct 18, 2018 | 1,208,419 (incl. options within 60 days) | Mix of 2016/2017/2017 grants | 1,208,419 | 0.54% (out of 221,846,266) |
| Sep 12, 2019 | 1,383,419 (incl. options within 60 days) | Mix of 2016/2017/2018 grants | 1,383,419 | 0.59% (out of 234,293,107) |
| Oct 15, 2021 | 1,390,826 (beneficial) | 1,000,000 vested options listed separately | 1,390,826 | 0.5% (out of 259,118,369) |
| Oct 20, 2022 | 1,290,826 (beneficial) | 900,000 vested options | 1,290,826 | 0.5% (out of 279,393,227) |
Breakdown details:
- As of Oct 15, 2021: 390,826 outstanding common shares + 1,000,000 vested options (400k @ C$0.76 (2017), 350k @ C$0.54 (2018), 250k @ C$0.75 (2020)) .
- As of Oct 20, 2022: 900,000 vested options (350k @ C$0.54 (2018), 250k @ C$0.75 (2020), 300k @ C$1.36 (2021)) .
Policies:
- Hedging/margin/short sales/derivatives are prohibited under NB’s Insider Trading Policy; pledging is not explicitly referenced in retrieved disclosures .
Employment Terms
| Term | Detail |
|---|---|
| Current Role | Chief Communications Officer; effective June 7, 2022 |
| NioCorp Start Date | November 2, 2015 (executive officers table); employment noted to have started December 1, 2015 in earlier filing |
| Age | 63 (as of Jan 30, 2025) |
| Employment Agreement | Historical proxies state “No other named executive officer is party to an employment agreement,” implying none for Sims at those times; later employment agreements were disclosed for CFO/COO, not for Sims |
| Severance / Change of Control | Earlier disclosures indicate no specific plans for change-of-control/termination benefits for named executive officers beyond standard arrangements; recent detailed severance terms apply to CFO/COO, not to Sims |
| Clawbacks | Clawback provisions strengthened in 2017 Amended LTIP approved Jan 19, 2024 |
| Non‑Compete / Non‑Solicit | Restrictive covenant agreements (non‑compete/non‑solicit) disclosed for CFO/COO; no such agreement for Sims is disclosed in retrieved filings |
Compensation Structure Notes
- Equity vehicle emphasis: Shift to options, often fully vested on grant (e.g., 2020/2021 cycles for executives), reduces explicit performance metric linkage versus PSUs; for Sims, awards are options without disclosed financial metric hurdles .
- Ownership alignment: Persistent personal share/option holdings over multiple years supports alignment; hedging bans further align interests, while no pledging disclosure suggests absence of pledging red flags in available materials .
- Guaranteed vs at‑risk: Base salary modest with substantial historical equity; no RSU/PSU mix for Sims identified; discretionary cash bonus not disclosed for Sims in later years when he was not an NEO .
Say‑on‑Pay & Shareholder Feedback (Recent)
| Proposal | Votes For | Votes Against | Votes Withheld | Broker Non‑Votes |
|---|---|---|---|---|
| Nonbinding Advisory Vote on NEO Compensation (Jan 19, 2024) | 6,979,044 | 865,175 | 108,373 | 4,948,125 |
Board/Committee Governance
- Executive officer roster and ages updated through 2025 proxies; Sims appears as an executive officer, not a director or committee member . No committee roles are disclosed for Sims.
Risk Indicators & Red Flags
- Hedging: Prohibited by policy (reduces misalignment risk) .
- Pledging: No explicit pledging policy disclosure located; no pledging by Sims disclosed in retrieved filings .
- Equity award modifications/repricings: None identified in retrieved disclosures for Sims.
- Employment agreements: Absent historically for Sims; CFO/COO have detailed severance/change‑of‑control economics post‑listing, indicating differentiated retention frameworks .
Investment Implications
- Alignment: Multi‑year personal share/option ownership and a strict hedging prohibition support alignment with shareholders; lack of pledging disclosures reduces collateral risk signals .
- Selling pressure: Sims’ historical grants had five- and three-year terms, many expiring between 2021–2024 (e.g., 2016, 2017, 2018, 2020, 2021 vintages), suggesting prior windows for exercise/sale; monitor current holdings and any new grants under the 2017 Amended LTIP for upcoming expiries and potential selling pressure .
- Pay-for-performance: Sims’ disclosed compensation is option-centric with no stated performance metric weightings or PSUs; company PVP shows negative net income and declining TSR from 2022 to 2024, which challenges pay-performance narratives despite at‑risk equity structure; future use of PSUs under the amended LTIP could strengthen ties to measurable outcomes .
- Retention: Absence of a disclosed individual employment/severance agreement for Sims (versus CFO/COO) may indicate lower contractual retention friction; however, role-critical communications responsibilities and equity exposure can still anchor retention. Continue to track any Item 5.02 updates for changes in role or compensatory arrangements .
Monitoring actions: Track Form 4 filings for Sims to quantify net buying/selling and option exercises; review upcoming proxies for any shift toward PSUs or explicit performance metrics, and 8‑K Item 5.02 filings for changes in employment terms.