Ivanhoe Electric Inc. filed a current report on August 5, 2026, disclosing an employment agreement with Michelle Lammers to serve as Chief Operating Officer, effective September 1, 2026, with compensation terms and severance provisions detailed under Item 5.02.

Key Highlights

  • New COO appointment: Michelle Lammers will become Chief Operating Officer effective September 1, 2026, succeeding Glen Kuntz in that principal operating officer role.
  • Base salary: Lammers is entitled to an annual base salary of $350,000 per year under the Employment Agreement.
  • Incentive targets: She is eligible for a short-term bonus target of 75% of her Base Salary and a long-term bonus target of 150% of her Base Salary annually.
  • Severance without cause: In a termination without Cause outside of a Change in Control, she is entitled to severance equal to 1.5 times her annual Base Salary and 1.5 times the target annual bonuses for the year of termination.
  • Prior experience: Lammers has served as Operations Director at ASARCO LLC since January 2023, following a 25-year tenure that included roles as General Manager of Asarco's Ray Mine (2019-2022) and Manager of Asarco's Mission Mine (2010-2013).
  • Kuntz transition: Glen Kuntz will continue with the company as Senior Vice President, Mine Development, and the filing states the transition was not the result of any disagreement between Kuntz and the company.

Ivanhoe Electric's COO Transition: Terms and Background

Ivanhoe Electric Inc. (NYSE American: IE) disclosed on August 5, 2026, that it entered into an employment agreement with Michelle Lammers on August 3, 2026. According to the filing, Lammers will be appointed Chief Operating Officer effective September 1, 2026, and her term of employment "will continue indefinitely until Ms. Lammers resigns or is terminated in accordance with the terms and conditions of the Employment Agreement."

The filing describes Lammers as holding a Bachelor of Science in Metallurgical Engineering from South Dakota School of Mines and Technology and being 48 years old. Her career at ASARCO LLC spanned roles including Manager of Development Projects and Services (2013-2019) before becoming General Manager of Asarco's Ray Mine, a position she held from 2019 to 2022. Since January 2023, she has served as Operations Director at ASARCO, where, according to the filing, she "led and overseen all aspects of copper mining operations, including exploration, planning, investments, engineering, land management, health and safety, and business technology."

On compensation, the filing states that Lammers' Base Salary, short-term bonus target, and long-term bonus target are each "subject to review on an annual basis." In the event of a Change in Control followed by termination without Cause or resignation for Good Reason within the subsequent 12-month period, the filing specifies she would receive a lump sum cash payment equal to 18 months of her annual Base Salary, plus one additional month for each full year of service after the third full year, up to a maximum of 24 months annual Base Salary, together with 150% of the short-term bonus target for the year of termination. The filing also states there are no arrangements, family relationships, or transactions requiring disclosure under Item 404(a) of Regulation S-K in connection with her selection.

What Was Disclosed

Ivanhoe Electric filed an 8-K on August 5, 2026, reporting the appointment of Michelle Lammers as Chief Operating Officer effective September 1, 2026, detailing her employment agreement terms, compensation structure, severance provisions, and the continuation of Glen Kuntz in a senior vice president role.