Key management personnel are persons responsible for planning, directing and controlling the activities of the entity, which are the directors and officers of the Company.

Compensation to key management is comprised of the following (in thousands):


	Three months ended March 31,
	2026		2025
Management and director fees(1)	$	531	$	477
Share-based compensation		810		1,173
	$	1,341	$	1,650

(1)

Management and director fees are comprised of salaries, bonuses, benefits and directors' fees included on the Company's interim condensed consolidated statement of comprehensive loss.

Related party receivables are included in Other current assets and receivables and related party payables are included in Accounts payable and accrued liabilities on the Company's consolidated statements of financial position. The balances of related party receivables and payables as of the periods indicated are as follows (in thousands).


	March 31, 2026		December 31, 2025
Receivables
Smackover Lithium(1)	$	1,905	$	3,226
Total	$	1,905	$	3,226

Accounts payable and accrued liabilities
Smackover Lithium(2)	$	4,700	$	4,700
Management and directors(3)		359		2,160
Total	$	5,059	$	6,860

(1)

Amounts due from the Smackover Lithium entities represent receivables for reimbursement of costs paid by the Company on behalf of these entities.

(2)

Accounts payable and accrued liabilities due to Smackover Lithium as of March 31, 2026 and December 31, 2025 represents $4.0 million of cash received from Smackover Lithium and is held by the Company in a separate account and designated for working capital needs and is currently due. In addition, a $0.7 million payable, related to a cash collateralized letter of credit that is held by the Company on behalf of Smackover Lithium, was outstanding as of March 31, 2026 and December 31, 2025.

(3)

Amounts due to management and directors primarily include accrued management and director compensation. As of March 31, 2026, the balance of $0.3 million primarily includes accrued incentive compensation earned during the period. As of December 31, 2025, the balance of $2.2 million primarily reflects accrued incentive compensation for the full year, amounts payable to a director relating to funds received during the period, and expense reimbursements payable to management.