Alaska Silver Corp. 8-K

What Happened

• On June 11, 2026 Alaska Silver Corp. (WAMFF) filed an 8-K announcing that the Board appointed Aaron Schutt as Chief Executive Officer effective October 1, 2026. Christopher “Kit” Marrs will cease serving as President and CEO on October 1, 2026 and has been named Executive Chairman of the Board effective immediately and will remain in that role after the transition.
• Mr. Schutt joined the Board in May 2026 and recently retired as President and CEO of Doyon Limited (retirement effective June 1, 2026). His Employment Agreement with Alaska Silver, effective October 1, 2026, is filed as Exhibit 10.1 and a related press release is furnished as Exhibit 99.1.

Key Details

• Base salary: $300,000 (effective Oct 1, 2026); eligible for annual increases per the Compensation Committee.
• Incentives: annual bonus up to 70% of base salary under the company STIP; eligible for LTIP participation; 10% of base salary in lieu of employer-provided benefits.
• Equity: grant of 500,000 stock options to purchase common stock.
• Termination/severance: if terminated without cause (or certain resignations), severance equals base salary plus prior-year STIP earned, immediate vesting of unvested LTIP awards; within 12 months of a Change of Control, enhanced severance (company-described formula) and immediate LTIP vesting.
• Governance/other: no reportable related-party transactions involving Mr. Schutt; he will continue consulting for Doyon Limited through May 2027 and serves on several external boards.

Why It Matters

• Leadership change is material for investors because it names a new CEO with deep Alaska business and resource-development experience and defines his pay, incentive structure and equity grant — all of which affect future compensation expense and potential share dilution.
• Kit Marrs remaining as Executive Chairman provides continuity of management and strategy during the October 2026 transition. Investors should note the severance and change-of-control protections disclosed, and the timing of the effective date (Oct 1, 2026) when evaluating near-term corporate governance and expense impacts.