Mark Hill Would Lead American Barrick — His $2 Million IPO Award Must Buy Parent Shares
The proposed separation would not trigger severance or speed up existing equity awards for employees.
Mark Hill, Barrick's president and CEO, is set to lead American Barrick Gold, the gold producer being separated from its parent, with a $2 million award conditional on completing its IPO. American Barrick's IPO filing Tuesday said Hill must spend the after-tax payment on Barrick shares, rather than shares of the business he would lead.
A Bonus Tied To Barrick
The award's purchase terms use Barrick's closing share price on February 4, 2026. Hill would have to retain the purchased stock until he satisfies the applicable share-ownership requirement.
The parent reported $11 million in pay for Hill's services in 2025. That included $8.1 million in share-based awards and $1.7 million in annual cash incentives.
Hill took the interim CEO role in September 2025 and became Barrick's president and CEO in February 2026. His interim appointment came with a $5 million award. His annual base salary of $1.4 million took effect on February 4, 2026, and is expected to carry over after the separation.
Employee Awards Would Switch Companies
The proposed employee agreement draws a different path for outstanding Barrick share-unit awards: employees' awards would become awards tied to American Barrick stock. The separation itself would neither qualify employees for severance nor cause their existing equity awards to vest sooner.
Hill's move would put the parent's leader in charge of a business with operations in Nevada and the Dominican Republic. American Barrick's portfolio includes controlling interests of 61.5% in Nevada Gold Mines and 60% in Pueblo Viejo, both joint ventures with Newmont.
The planned separation would leave Barrick's business outside the North American operations with the parent. American Barrick expects Barrick to remain its majority shareholder after the offering, with the power to designate a majority of its directors and board-committee members.
Hill's completion payment would therefore preserve a personal holding in the parent even as employees' existing share-unit awards shift toward American Barrick.
Sources
- S-1 — American Barrick Gold Corp — SEC EDGAR
