Eric Alexander
About Eric Alexander
Eric Alexander is Chief Financial Officer and Corporate Secretary of U.S. Gold Corp. since September 2020; he is 58, a licensed CPA, and holds a B.S. in Business Administration (Accounting/Finance) from SUNY Buffalo . Company performance during his tenure shows cumulative TSR declining to 38.00 in FY2024 from 51.36 in FY2022, while GAAP net losses were $(13.9)M in FY2022, $(7.6)M in FY2023, and $(6.9)M in FY2024, with FY2025 net loss of $(20.6)M and no revenues in FY2024–FY2025 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Helix Technologies, Inc. | Corporate Controller | Apr 2019–Sep 2020 | Led public-company controllership and financial reporting . |
| Pershing Gold Corporation | VP Finance & Controller | Sep 2012–Apr 2019 | Built mining finance controls; public-company experience (formerly NASDAQ: PGLC) . |
| Sunshine Silver Mines Corporation | Corporate Controller | Mar 2011–Aug 2012 | Managed controllership for pre-development mining assets (US/Mexico) . |
| Hein & Associates LLP | Consultant; Manager | Aug–Sep 2012; Jul 2010–Mar 2011 | Audit/consulting roles supporting mining/energy clients . |
| Golden Minerals Company / Apex Silver Mines Limited | Corporate Controller | Jul 2007–May 2010 | Public mining company controllership across LATAM . |
| KPMG LLP | Senior Manager | (Not dated) | Led mining/energy audit engagements; technical accounting . |
External Roles
No external public-company directorships or committee roles are disclosed for Mr. Alexander in the DEF 14A/10-K .
Fixed Compensation
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Base Salary ($) | 240,000 | 240,000 |
| Non-Equity Incentive Bonus ($) | - | - |
| Stock Awards ($) | - | - |
| Option Awards ($) | 49,650 | - |
| Total ($) | 289,650 | 240,000 |
- Current salary term: Increased to $260,000 effective Oct 1, 2024 under the Alexander Employment Agreement .
- Target bonus: 100% of base salary; form of payment at Board’s discretion .
Performance Compensation
| Incentive | Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Annual Bonus (FY2024) | Board discretion | N/A | Up to 100% of base salary | $0 | N/A | N/A |
| Stock Options (Grant 1) | Long-term incentive | N/A | 15,000 options | 15,000 | Options | Vested immediately on Jan 12, 2023; $5.02 strike; expires Jan 12, 2028 |
| Stock Options (Grant 2) | Long-term incentive | N/A | — | 6,372 options (unexercisable+exercisable shown in table) | Options | 25% on Jan 24, 2022 (grant), 25% on first and second anniversaries, 25% on third anniversary; $6.93 strike; expires Jan 24, 2027 |
| Clawback | Restatement-based recovery | N/A | Mandatory per policy | N/A | Applies to equity/non-equity incentive comp | Adopted 2023; no misconduct required |
Equity Ownership & Alignment
| Item | Amount | Notes |
|---|---|---|
| Total Beneficial Ownership (shares) | 141,837 (1.12%) | Based on 12,486,116 shares outstanding as of Mar 3, 2025 . |
| Unrestricted Common Shares | 1,540 | Direct ownership . |
| Vested RSUs (issuable upon resignation) | 91,415 | Delivery deferred; subject to acceleration/forfeiture . |
| Options Outstanding | 64,686 (48,112 exercisable) | Split between two grants . |
| Warrants | 770 (all exercisable) | — |
| Unvested RSUs (deferred) | 10,753 | — |
| Unexercisable Options | 16,574 | — |
| Ownership Guidelines | No minimum share requirement | Company believes in substantial personal investment; insider policy discourages speculative trading . |
| Pledging/Hedging | No pledging disclosed; short-term/speculative trades deemed improper | No specific hedging/pledging disclosure for executives . |
Employment Terms
| Term | Details |
|---|---|
| Agreement | Employment agreement dated Dec 4, 2020; indefinite term until terminated . |
| Base Salary | $260,000 effective Oct 1, 2024 (previously $240,000) . |
| Target Bonus | Up to 100% of base salary; at Board’s discretion, payable in cash/stock/combination . |
| Severance (No Change in Control) | Lump-sum equal to current annual base salary plus prorated portion of target bonus; full and immediate vesting of unvested equity; vested awards per plan . |
| Severance (Within Change-in-Control Period) | Lump-sum equal to 2× annual base salary plus 100% of target annual bonus; full vesting of equity; vested awards per plan . |
| Equity Vesting on Termination | Unvested equity fully and immediately vests upon qualifying termination (both outside and within CIC period) . |
| Clawback | Executive Compensation Clawback Policy applies to incentive compensation upon material restatement (no misconduct requirement) . |
Additional Context: Company Pay vs Performance and Tenure Performance
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Company TSR (Value of $100) | 51.36 | 39.18 | 38.00 |
| GAAP Net Income ($) | (13,930,882) | (7,614,204) | (6,897,483) |
- FY2025 results: Net loss $(20,559,000); no revenues in FY2024–FY2025 .
Board Governance and Say-on-Pay
- CFO also serves as Corporate Secretary; Section 16 filings reportedly timely for all insiders in FY2024 .
- 2025 annual meeting: stockholders approved say‑on‑pay; frequency set to every three years consistent with Board recommendation .
Related Party/Conflicts
No related party transactions involving Mr. Alexander are disclosed; related agreements primarily involve other parties (e.g., Luke Norman consulting) .
Risk Indicators & Red Flags
- Going concern risk disclosed; cash and working capital likely require additional financing to advance projects (potential dilution/comp pressure) .
- Equity award acceleration upon termination (outside and within CIC) increases potential supply overhang if departure occurs; significant RSU tranche delivered upon resignation .
- No disclosures of pledging or hedging; insider policy discourages speculative trading .
Investment Implications
- Alignment: Alexander’s beneficial stake (1.12%) and large deferred RSUs (issuable only upon resignation) align retention but create a concentrated delivery event at departure; option structures are modest and largely time-based vs performance-based .
- Incentive design: Bonus target at 100% of salary without disclosed operational KPIs (TSR, cash metrics) weakens pay-for-performance linkage; 2023–2024 show no bonus paid, suggesting restraint amid losses and pre-revenue status .
- Change-of-control economics: Double-trigger style terms with 2x salary + 100% target bonus and full vesting raise potential cost in strategic transactions; investors should model CIC cash outlays and share delivery upon resignation .
- Trading signals: Watch for Form 4s tied to option exercises (2027–2028 expiries) and any resignation-triggered RSU deliveries; near-term selling pressure appears limited absent departure due to deferred RSU settlement mechanics .