JP Pressey
About JP Pressey
John Paul (JP) Pressey (age 51) is an independent director of Ur-Energy (URG) since April 2024. He holds a Bachelor of Commerce from the University of Alberta and is a Chartered Professional Accountant with 16 years as a PwC audit partner and six years as PwC’s Assurance Leader for British Columbia, with deep experience advising U.S. and Canadian public companies across mining, manufacturing, utilities, and alternative energy, including acquisitions and capital markets transactions .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| PricewaterhouseCoopers LLP | Partner, Assurance | 16 years | Worked with public companies; acquisitions and capital markets; solutions to accounting/audit issues |
| PwC British Columbia | Assurance Leader (Province) | 6 years | Oversaw assurance results and operations for BC; recognized for ethics/integrity |
| Institute for Corporate Directors | Facilitator | Not disclosed | Facilitated governance sessions; board presentation experience |
External Roles
| Category | Detail |
|---|---|
| Current public company directorships | None of URG’s directors currently serves on another publicly traded company’s board |
Board Governance
- Independence: Pressey is independent under Canadian/U.S. securities laws and NYSE American rules .
- Committees (2024–2025): Audit (member), Compensation (member), Corporate Governance & Nominating (member). Not on Treasury & Investment or HSE & Technical; no chair roles .
- Audit Committee credential: Audit committee “financial expert”; financially literate/sophisticated under NI 52-110 and NYSE American .
- Board activity and engagement: Board met 14 times in 2024; independent director in-camera sessions occurred in December 2024; orientation included technical site visit to Lost Creek shortly after appointment .
| 2024 Meetings Held | Count |
|---|---|
| Board of Directors | 14 |
| Audit Committee | 5 |
| Compensation Committee | 2 |
| Corporate Governance & Nominating Committee | 4 |
| HSE & Technical Committee | 2 |
| Treasury & Investment Committee | 2 |
Fixed Compensation
- Policy: Annual retainer for non-executive directors is $75,000; no meeting fees; no additional fees for leadership roles; RG&A reviewed director compensation in 2021–2022; changes affirmed; equity recommendations noted but not implemented .
- 2024 compensation earned (nine months of service for Pressey):
| Component | Amount (USD) |
|---|---|
| Fees earned (cash) | $56,250 |
| Share-based awards | $28,571 |
| Option-based awards | $252,616 |
| Total | $337,437 |
Additional notes:
- Ad hoc/special committee fees policy exists but none currently active .
Performance Compensation
- Equity grants in 2024 (director program):
- RSUs: 22,902 granted December 12, 2024 to each current non-executive director .
- Options: 91,602 options granted December 12, 2024, strike C$1.77, expire December 12, 2029 .
- Additional options (new director): 200,000 options granted May 8, 2024, strike C$2.46, expire May 8, 2029 .
- Vesting: Not disclosed in cited sections.
- Committee practices: Compensation Committee met twice in 2024; eight actions by written resolution; independent under NYSE American; no independent compensation consultant used in 2024 .
| Grant Date | Instrument | Quantity | Strike Price | Expiration | Reported Value (USD) |
|---|---|---|---|---|---|
| Dec 12, 2024 | RSUs | 22,902 | — | — | $28,571 (share-based awards) |
| Dec 12, 2024 | Options | 91,602 | C$1.77 | Dec 12, 2029 | Included in $252,616 (option-based awards) |
| May 8, 2024 | Options | 200,000 | C$2.46 | May 8, 2029 | Included in $252,616 (option-based awards) |
Performance metrics tied to director compensation:
- None disclosed; director pay comprises cash retainer plus RSUs/options (no TSR/EBITDA/esg targets cited) .
Policies shaping incentives and alignment:
- Anti-hedging and anti-pledging policies prohibit hedging, short positions, and pledging; no insiders have pledged shares .
- Clawback policy adopted October 26, 2023 to comply with SEC Rule 10D-1 and NYSE American listing rules .
Other Directorships & Interlocks
| Item | Detail |
|---|---|
| Other public company boards | None (for all URG directors currently) |
| Interlocks/conflicts | Not indicated in cited sections; board independence confirmed for Pressey |
Expertise & Qualifications
- CPA; audit and assurance expertise; financial literacy and sophistication for Audit Committee; designated “audit committee financial expert” status .
- Extensive public company advisory across mining and adjacent sectors; capital markets and acquisitions experience; board presentation experience and governance facilitation (ICD) .
Equity Ownership
- Beneficial ownership (Record Date April 9, 2025): JP Pressey held nil common shares and nil options exercisable within 60 days; less than 1% of outstanding shares .
- Shares outstanding at Record Date: 364,819,260 common shares; 4,631,758 options exercisable within 60 days company-wide .
- Director ownership guidelines: Minimum holding equal to 3x annual retainer within policy timelines; as of Dec 31, 2024, all non-executive directors met or are on-track to meet the guidelines .
- Pledging/hedging: Prohibited; no insiders have pledged shares .
| Holder | Common Shares | Options Exercisable ≤60 Days | % Outstanding |
|---|---|---|---|
| JP Pressey | — | — | * (<1%) |
Governance Assessment
- Strengths: Independent director with deep audit, accounting, and capital markets expertise; designated audit committee financial expert; serves on three core committees (Audit, Compensation, Corporate Governance & Nominating), enhancing board effectiveness and oversight . Robust alignment policies (clawback, anti-hedging/pledging) and clear ownership guidelines underpin investor confidence .
- Engagement: Active board cadence (14 meetings; committee activities), structured orientation and operational site visit shortly after appointment support informed oversight .
- Watch items: Low immediate beneficial ownership (nil at Record Date) typical for a newly appointed director; guideline compliance on-track mitigates alignment concerns . Compensation Committee did not engage an independent consultant in 2024, which some investors prefer, though committee remains independent and completed risk assessments .
- No red flags observed in cited sections regarding legal proceedings, sanctions, bankruptcies, family relationships, or pledging/hedging; none disclosed in the proxy excerpts reviewed .