Filing summary
Company and reporting period: United States Antimony Corporation (NYSE: UAMY) filed this Form 8-K on October 2, 2026, reporting an event dated October 1, 2026. The filing concerns CEO Gary C. Evans’s employment agreement, effective August 1, 2026.
Key agreement terms
- Three-year term and annual base salary of $430,000, subject to annual review.
- Eligibility for an annual bonus tied to performance goals set each year by the Compensation Committee in consultation with the Board. The agreement summary does not state a target bonus amount.
- Benefits, subject to applicable plan terms, and five weeks of paid vacation annually.
- Following a change in control, if the Company terminates Mr. Evans without cause or he resigns for good reason within 24 months, severance equals two times his then-current base salary plus the prior calendar year’s target bonus, paid over 24 months. Payment is subject to restrictive-covenant compliance and execution and non-revocation of a mutual release.
- For qualifying termination without cause or resignation for good reason before a change in control or more than 24 months after one, severance equals 1.5 times base salary plus target bonus, paid over 18 months, plus a prorated bonus for the termination year. Accrued obligations are payable in a lump sum within 30 days. Conditions include restrictive-covenant compliance and execution and non-revocation of a separation agreement and mutual release.
- Non-competition, non-solicitation, and non-interference covenants apply during employment and for one to two years afterward.
Financial results and comparison
This 8-K does not report revenue, profit, cash flow, margins, debt, liquidity, or other operating results. It provides no comparable-period financial data or financial guidance. The filing does not describe changes from prior compensation arrangements.
Investor points to verify
- Review Exhibit 10.1 for the full definitions of “cause,” “good reason,” “change in control,” and “accrued obligations,” and the precise payment conditions.
- Confirm the applicable annual bonus targets and performance goals, which are not specified in the filing summary.
- Assess the potential severance cost under different termination scenarios and the scope and duration of the restrictive covenants.