Company: SCCO
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001558370-25-004735
Chunk: 64

Company: SOUTHERN COPPER CORP/
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 64
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16(b) of the Securities Exchange Act of 1934, as amended. Without limiting the generality of the foregoing, no award granted hereunder shall be construed as an offer to sell securities of the Company, and no such offer shall be outstanding, unless and until the Board in its sole discretion has determined that any such offer, if made, would be in compliance with all applicable requirements of the U.S. federal securities laws.

Effective Date and Duration of Plan

The Plan became effective on January 1, 1996 on the effective date of the exchange of the Company’s shares for certain labor shares of the Peruvian Branch of Southern Peru Limited (the “Exchange Offer”), subject to the completion of such Exchange Offer. The Plan expired by its terms on January 31, 2016. On January 28, 2016, the Board of Directors of the Company (“Board”) approved, subject to stockholder approval, a one-year extension of the Plan. On January 26, 2017 the Board approved another one-year extension of the Plan, subject to stockholder approval. The Plan extensions were approved at the Annual Meetings of Stockholders of 2016 and 2017, respectively. On January 25, 2018 the Board approved a further extension of the Plan for five years and an amendment to the Plan to increase the number of shares to be granted to non-employee directors following each annual meeting of stockholders from 1,200 to 1,600. At the 2018 annual meeting of stockholders the amendments to increase the award amount from 1,200 to 1,600 and the five-year extension of the Plan until January 28, 2023 were approved. On April 22, 2021, the Board amended the Directors’ compensation, so that, instead of receiving 1,600 shares following each annual meeting of stockholders, commencing with the second quarter 2021, each Eligible Director is granted 400 Shares quarterly, contingent upon their attendance at every Board meeting for that quarter. On January 27, 2022, the Board of Directors approved, subject to stockholder approval, a further five-year extension of the Plan. At the 2022 annual meeting of stockholders held May 27, 2022, the stockholders approved a five-year extension of the Plan until January 27, 2028. On March 6, 2025, the Board approved, subject to stockholder approval, an extension of the Plan for three