v3.26.1
Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Disclosure - Pay Versus Performance      
Pay vs Performance Disclosure, Table

As required by Item 402(v) of Regulation S-K, we are providing the following information on the relationship between Compensation Actually Paid (“CAP”) and Solitario’s performance for our NEOs (including the Principal Executive Officer, or PEO) and total shareholder return, which is defined as the change in the value of an investment in our common stock of $100 at December 31, 2022 through December 31, 2025 (the “TSR”).  The definition of CAP and TSR are mandated by Item 402 and are not used by the Compensation Committee in its pay-for-performance assessments.  See our “Executive Compensation” section of this Proxy Statement for a discussion on Solitario’s executive compensation philosophy, our incentive programs and practices and policies that align the interests of our NEOs to those of our shareholders.

 

Year

 

Summary

Compensation

Table Total

For PEO

(1)

 

 

Compensation

Actually Paid

to PEO

(2)

 

 

Average

Summary

Compensation

Table Total

For Non-PEO

Named

Executive

Officers

(3)

 

 

Average

Compensation

Actually Paid

to Non-PEO

Named

Executive

Officers

(4)

 

 

Value of

Initial

Fixed

Investment

on Total

Shareholder

Return

(5)

 

 

Net Income

(Loss)

(in thousands)

 

2025

 

$342,246

 

 

$415,921

 

 

$309,095

 

 

$368,082

 

 

$113

 

 

$(3,833)

2024

 

$484,974

 

 

$432,482

 

 

$263,081

 

 

$215,107

 

 

$95

 

 

$(5,368)

2023

 

$299,000

 

 

$345,692

 

 

$261,500

 

 

$301,686

 

 

$90

 

 

$(3,754)

 

 

(1)

Amount for Chris Herald, our CEO in 2025, 2024 and 2023 from the Summary Compensation Table (“SCT”) above.

 

(2)

Adjustments for to the SCT total to arrive at the CAP are as follows:

 

Reconciliation of PEO SCT Total and Compensation Actually Paid (6)

 

2025

 

 

2024

 

 

2023

 

Total Compensation as reported in SCT

 

$342,246

 

 

$484,974

 

 

$299,000

 

Less fair value of equity awards granted during the year as reported in the SCT

 

 

(146,246)

 

 

(231,974)

 

 

-

 

Fair value of unvested equity awards granted in the current year – value at the end of the year

 

 

108,149

 

 

 

93,046

 

 

 

-

 

Fair value of options granted in the current year that vested in the current year

 

 

36,532

 

 

 

58,033

 

 

 

-

 

Fair value of options granted in prior years that vested in the current year

 

 

68,771

 

 

 

36,295

 

 

 

64,509

 

Change in the fair value of unvested equity options granted in prior years

 

 

6,469

 

 

 

(7,892)

 

 

(17,817)

Compensation actually paid per Item 402

 

$415,921

 

 

$432,482

 

 

$345,692

 

 

 

(3)

Amount for the average of Mr. Hunt and Mr. Maronick, our Non-PEO’s in 2024 and for Mr. Maronick alone in 2025 from the SCT above.

 

(4)

The following amounts represent averages for our Non-PEO’s to arrive at the necessary adjustments to the SCT:

 

Reconciliation of Average Non-PEO SCT Total and Compensation Actually Paid (6)

 

2025

 

 

2024

 

 

2023

 

Total average compensation as reported in SCT

 

$309,095

 

 

$263,081

 

 

$261,500

 

Less fair value of equity awards granted during the year as reported in the SCT

 

 

(127,095)

 

 

(93,581)

 

 

-

 

Fair value of unvested equity awards granted in the current year – value at the end of the year

 

 

93,986

 

 

 

37,536

 

 

 

-

 

Fair value of options granted in the current year that vested in the current year

 

 

31,748

 

 

 

23,411

 

 

 

-

 

Fair value of options granted in prior years that vested in the current year

 

 

55,128

 

 

 

14,475

 

 

 

54,821

 

Change in the fair value of unvested equity options granted in prior years

 

 

5,220

 

 

 

(3,148)

 

 

(14,635)

Less prior year fair value of equity awards forfeited during the current year

 

 

-

 

 

 

(26,667)

 

 

-

 

Compensation actually paid per Item 402

 

$368,082

 

 

$215,107

 

 

$301,686

 

 

 

(5)

The TSR is based upon the change in value of $100 invested on the last trading day of 2022 as of the end of the year reported.

 

(6)

Fair value awards were computed in accordance with Financial Accounting Standards Codification Topic 718

As an exploration company, Solitario does not have consistent sources of revenue and our goals and objectives are more closely aligned with the success of our exploration activities including acquisition and exploration of mineral claims as further discussed above in our Compensation Discussion and Analysis.  We believe the changes in both CAP and TSR shown in the above chart are more closely related to the success of our exploration activities, especially at our Golden Crest project as well as general junior mining industry trends for stock appreciation and declines during 2025, 2024 and 2023 than to each other or other financial metrics. 

The decrease in the net loss in 2025 compared to 2024 is primarily related to a decrease in exploration expense incurred at our Golden Crest project, where we completed eight drill holes during 2025 compared to 11 drill holes in 2024. The increase in the net loss in 2024 compared to 2023 is primarily related to the increase in exploration expense at our Golden Crest project, where we completed 11 drill holes during 2024, with no drilling undertaken in 2023 These increases and decreases are appropriate given the nature of Solitario’s exploration business and were a significant contributor to the exploration success at our Golden Crest project during 2025, 2024 and 2023. However, expenditure does not necessarily correlate to exploration success nor to increases in shareholder return.

    
Adjustment To PEO Compensation, Footnote

As required by Item 402(v) of Regulation S-K, we are providing the following information on the relationship between Compensation Actually Paid (“CAP”) and Solitario’s performance for our NEOs (including the Principal Executive Officer, or PEO) and total shareholder return, which is defined as the change in the value of an investment in our common stock of $100 at December 31, 2022 through December 31, 2025 (the “TSR”).  The definition of CAP and TSR are mandated by Item 402 and are not used by the Compensation Committee in its pay-for-performance assessments.  See our “Executive Compensation” section of this Proxy Statement for a discussion on Solitario’s executive compensation philosophy, our incentive programs and practices and policies that align the interests of our NEOs to those of our shareholders.

 

Year

 

Summary

Compensation

Table Total

For PEO

(1)

 

 

Compensation

Actually Paid

to PEO

(2)

 

 

Average

Summary

Compensation

Table Total

For Non-PEO

Named

Executive

Officers

(3)

 

 

Average

Compensation

Actually Paid

to Non-PEO

Named

Executive

Officers

(4)

 

 

Value of

Initial

Fixed

Investment

on Total

Shareholder

Return

(5)

 

 

Net Income

(Loss)

(in thousands)

 

2025

 

$342,246

 

 

$415,921

 

 

$309,095

 

 

$368,082

 

 

$113

 

 

$(3,833)

2024

 

$484,974

 

 

$432,482

 

 

$263,081

 

 

$215,107

 

 

$95

 

 

$(5,368)

2023

 

$299,000

 

 

$345,692

 

 

$261,500

 

 

$301,686

 

 

$90

 

 

$(3,754)

Reconciliation of PEO SCT Total and Compensation Actually Paid (6)

 

2025

 

 

2024

 

 

2023

 

Total Compensation as reported in SCT

 

$342,246

 

 

$484,974

 

 

$299,000

 

Less fair value of equity awards granted during the year as reported in the SCT

 

 

(146,246)

 

 

(231,974)

 

 

-

 

Fair value of unvested equity awards granted in the current year – value at the end of the year

 

 

108,149

 

 

 

93,046

 

 

 

-

 

Fair value of options granted in the current year that vested in the current year

 

 

36,532

 

 

 

58,033

 

 

 

-

 

Fair value of options granted in prior years that vested in the current year

 

 

68,771

 

 

 

36,295

 

 

 

64,509

 

Change in the fair value of unvested equity options granted in prior years

 

 

6,469

 

 

 

(7,892)

 

 

(17,817)

Compensation actually paid per Item 402

 

$415,921

 

 

$432,482

 

 

$345,692

 

    
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]

Reconciliation of Average Non-PEO SCT Total and Compensation Actually Paid (6)

 

2025

 

 

2024

 

 

2023

 

Total average compensation as reported in SCT

 

$309,095

 

 

$263,081

 

 

$261,500

 

Less fair value of equity awards granted during the year as reported in the SCT

 

 

(127,095)

 

 

(93,581)

 

 

-

 

Fair value of unvested equity awards granted in the current year – value at the end of the year

 

 

93,986

 

 

 

37,536

 

 

 

-

 

Fair value of options granted in the current year that vested in the current year

 

 

31,748

 

 

 

23,411

 

 

 

-

 

Fair value of options granted in prior years that vested in the current year

 

 

55,128

 

 

 

14,475

 

 

 

54,821

 

Change in the fair value of unvested equity options granted in prior years

 

 

5,220

 

 

 

(3,148)

 

 

(14,635)

Less prior year fair value of equity awards forfeited during the current year

 

 

-

 

 

 

(26,667)

 

 

-

 

Compensation actually paid per Item 402

 

$368,082

 

 

$215,107

 

 

$301,686

 

    
Additional 402(v) Disclosure [Text Block]

The TSR is based upon the change in value of $100 invested on the last trading day of 2022 as of the end of the year reported.

    
PEO Total Compensation Amount $ 342,246 $ 484,974 $ 299,000
PEO Actually Paid Compensation Amount 415,921 432,482 345,692
Non-PEO NEO Average Total Compensation Amount 309,095 263,081 261,500
Non-PEO NEO Average Compensation Actually Paid Amount 368,082 215,107 301,686
Total Shareholder Return Amount 113,000 95,000 90,000
Net Income (Loss) $ (3,833) $ (5,368) $ (3,754)
PEO Name Chris Herald Chris Herald Chris Herald
Non-PEO NEOs Name Mr. Maronick Mr. Hunt and Mr. Maronick