Ryan Schierman
About Ryan Schierman
Ryan S. Schierman, 39, joined Ur‑Energy (URG) in March 2024 as Vice President, Regulatory Affairs. He holds a B.S. in Environmental Science (Brigham Young University) and an M.Sc. in Health Physics (Idaho State University) and is a Certified Health Physicist. Prior to URG, he served as Wyoming Uranium Recovery Program Manager (2015–2020), where he was instrumental in Wyoming becoming the 38th NRC Agreement State (first-ever partial agreement for uranium recovery operations). In 2024, URG highlighted his addition and reported zero regulatory inspection violations at Lost Creek and Shirley Basin, underscoring strong compliance during a period of contracting and project buildout; the Board assessed corporate performance at 2.4 on URG’s 4-point scale and expanded multi-year sales contracts to 5.9M lbs U3O8 for 2025–2030 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Wyoming Department of Environmental Quality | Uranium Recovery Program Manager | 2015–2020 | Critical to Wyoming becoming the 38th NRC Agreement State; first partial agreement focused on uranium recovery operations |
| Fluor/Idaho Environmental Coalition (DOE contractors; Idaho Cleanup Project) | Management roles | Not disclosed | Regulatory relations and compliance; licensing; EHS leadership experience |
External Roles
- No public company directorships or external board roles are disclosed in the proxy for Mr. Schierman .
Fixed Compensation
- URG’s compensation framework for executive officers (including VP Regulatory Affairs) emphasizes pay-at-risk, market benchmarking, ownership guidelines, and risk controls (anti-hedging/anti-pledging; clawback policy) .
| Component | Target (% of Base Salary) | Notes |
|---|---|---|
| Short-Term Incentive Plan (STIP) | 60% | Executive STIP weighting: 60% corporate objectives; 40% personal objectives |
| Long-Term Incentive Plan (LTIP) | 60% | Generally 80% of executive LTIP value is stock options (high leverage to share price) |
Perquisites and benefits: executives participate in standard employee programs (401(k) with company match, medical/dental/vision, disability, life insurance, FSA, EAP) .
Performance Compensation
- STIP methodology uses measurable corporate and personal objectives tied to shareholder value; payouts are discretionary by the Compensation Committee/Board, with thresholds and caps (50% threshold at score 2; typical maximum 150% at score 4) .
| Metric | Weight | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Corporate Objectives | 60% | Not disclosed | Corporate performance score 2.4 (2024) | Not disclosed | N/A |
| Personal Objectives | 40% | Not disclosed | Not disclosed | Not disclosed | N/A |
Long-term equity incentives:
- Options: typically 80% of LTIP for executives; vest 1/3 per year over 3 years; 5-year term; immediate vest on change-of-control (CoC) .
- RSUs: post-2015 grants redeem 100% at 2nd anniversary; involuntary termination without cause → cash redemption at fair market value; CoC → redemption/settlement within defined timelines, with accelerated vest/redemption .
Equity Ownership & Alignment
| Item | Amount | Notes |
|---|---|---|
| Common Shares owned (Apr 9, 2025) | 0 | Less than 1% ownership (all execs line item shows Schierman with nil shares/options) |
| Options (exercisable within 60 days of Apr 9, 2025) | 0 | No options shown as currently exercisable within 60 days |
| Shares Outstanding (Record Date) | 364,819,260 | Context for ownership % |
| Pledged Shares | Prohibited | URG policy prohibits pledging and margin accounts; compliance reviewed annually |
| Hedging | Prohibited | Anti-hedging policy bans short sales, derivatives/swaps on URG securities |
| Ownership Guidelines | Required investment equal to base salary over defined timeline | Requirement: by the later of Dec 31 of the fifth year after becoming subject or third year after latest salary change; executives meet or are on-track (new execs tracked) |
Employment Terms
| Term | Details |
|---|---|
| Role and Start Date | Vice President Regulatory Affairs; joined March 2024 |
| Agreement Structure | Standard exec employment agreement includes salary, STIP eligibility, benefits eligibility, and equity plan eligibility |
| Post-Termination: Without Cause | Other executive officers receive 2.0x current base salary; STIP pro rata entitlement; unvested options cancelled; vested options expire per option terms; RSUs redeemed for cash at fair market value |
| Change-of-Control | Double-trigger for Schierman: if terminated without cause or resigns for “good reason” within 1 year of CoC → severance equal to 2.0x then-current base salary; all unvested options/RSUs vest/are redeemed per plan |
| For Cause | No severance; equity cancelled; no RSU redemption |
| Death | RSUs redeemed; vested options expire by earlier of original expiry or 1 year post-death (Board discretion to extend per plan) |
| Non-Solicit | One-year non-solicitation in executive agreements |
| Non-Compete | Non-compete is specified for CEO/COO; not disclosed for VP Regulatory Affairs |
| Clawback Policy | Adopted for all executives |
| Equity Plan Mechanics | Options vest 1/3 annually (3 years); RSUs post-2015 redeem fully at 2nd anniversary; CoC actions as above |
Performance & Track Record
- Regulatory/EHS execution: URG reported no violations or inspection findings at Lost Creek and Shirley Basin during the year; Schierman’s addition was highlighted as strengthening regulatory compliance and EHS leadership for Shirley Basin buildout and Lost Creek expansion .
- Corporate outcomes context: Board corporate performance score 2.4 on 4-point scale for 2024; expanded contract book to 5.9M lbs U3O8 (2025–2030) and raised ~$69M gross in July 2024 to fund Shirley Basin and working capital, supporting operational objectives .
Governance, Shareholder Feedback, and Compensation Oversight
- Say-on-Pay: 2024 advisory approval ~96%; annual advisory vote cadence continued; Committee concluded alignment remains effective .
- Compensation design/controls: Significant share of pay at-risk (~54% for other executive officers), anti-hedging/anti-pledging, clawback, prohibition on option repricing; options generally comprise 80% of executive LTIP .
- Consultant usage: No third-party comp consultant in 2024; STIP targets updated via a phased approach following a 2022 consultant review to align with peers .
Investment Implications
- Alignment: Strong policy architecture (ownership guidelines, clawback, anti-hedging/pledging) supports alignment; however, Schierman’s disclosed current direct ownership is 0 shares/options, so near-term “skin-in-the-game” is dependent on future grants and guideline accumulation .
- Retention and CoC economics: Double-trigger CoC protection at 2x salary (not including bonus) and defined equity acceleration/redemption reduce retention risk without excessive golden parachute exposure; one-year non-solicit adds post-termination protection .
- Selling pressure: With no disclosed current holdings exercisable/owned as of the record date, there is limited immediate insider selling pressure attributable to Schierman; option/RSU grant specifics for him were not disclosed, so monitor future Form 4s and proxies for vesting events .
- Execution risk: Regulatory leadership is a key lever for URG’s production ramp and expansions; 2024’s clean regulatory inspections and his prior state regulatory credentials support reduced permitting/compliance risk as Shirley Basin buildout completes .