Company: SCCO
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001558370-25-004735
Chunk: 65

Company: SOUTHERN COPPER CORP/
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 65
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 years until January 27, 2031, and an amendment so that commencing with the second quarter, 2025, each Eligible Director will each be granted 200 additional Shares annually, contingent upon their attendance at all Board meetings for the year. The Board recommends that the stockholders approve a three-year extension of the Plan until January 28, 2031, and a 200 share grant of Common Stock to each Eligible Director contingent upon their attendance at all Board of Director meetings for the year.

Federal Income Tax Consequences

Directors will realize income with respect to an award under the Plan at the time of grant based on the grant-date value of the shares.

Accounting Treatment

The Company accounts for stock-based awards issued to directors as compensation for their attendance at directors meetings. Compensation cost is determined based on the fair value of the awards that the Company is obligated to issue.

Amended Plan Benefits for Eligible Directors

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The following table summarizes the benefits that would be provided under the amended Plan in 2025 to the groups of individuals set forth below. It is anticipated that, if the amended Plan is approved by stockholders, each Eligible Director will be granted 200 Shares, contingent upon their attendance of all Board meetings for the year. Directors’ Stock Award Plan

| ​                                                     
 ​                                                     | ​ | ​                   
 Dollar Value ($)(a) |       ​ | ​ |                ​ 
 Number of Shares |
|:------------------------------------------------------|:--|:--------------------|--------:|:--|-----------------:|
| Oscar Gonzalez Rocha President and CEO                | ​ | $                   |       0 | ​ |                0 |
| Raul Jacob, Vice President, Finance and CFO           | ​ | $                   |       0 | ​ |                0 |
| Lina Vingerhoets, Comptroller                         | ​ | $                   |       0 | ​ |                0 |
| Edgard Corrales, Vice President, Exploration          | ​ | $                   |       0 | ​ |                0 |
| Jorge Lazalde, Secretary                              | ​ | $                   |       0 | ​ |                0 |
| Germán Larrea Mota-Velasco, Eligible Director         | ​ | $                   | 174,312 | ​ |            1,800 |
| Oscar González Rocha, Director                        | ​ | $                   |       0 | ​ |                0