L. Hanneman - Jan 16, 2025 Form 4 Insider Report for Gatos Silver, Inc. (GATO)

Role
Director
Signature
/s/ Stephen Bodley as Attorney-in-Fact for Karl Hanneman
Stock symbol
GATO
Transactions as of
Jan 16, 2025
Transactions value $
$0
Form type
4
Date filed
1/17/2025, 05:59 PM
Previous filing
Dec 11, 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GATO Common Stock Disposed to Issuer -10K -100% 0 Jan 16, 2025 By KNH Trust F1
transaction GATO Common Stock Disposed to Issuer -48.2K -100% 0 Jan 16, 2025 Direct F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction GATO Stock Option (Right to Buy) Disposed to Issuer -15.5K -100% 0 Jan 16, 2025 Common Stock 15.5K $12.00 Direct F3
transaction GATO Stock Option (Right to Buy) Disposed to Issuer -23.3K -100% 0 Jan 16, 2025 Common Stock 23.3K $12.00 Direct F3
transaction GATO Stock Option (Right to Buy) Disposed to Issuer -4.01K -100% 0 Jan 16, 2025 Common Stock 4.01K $18.03 Direct F3
transaction GATO Stock Option (Right to Buy) Disposed to Issuer -12.5K -100% 0 Jan 16, 2025 Common Stock 12.5K $5.04 Direct F3
transaction GATO Stock Option (Right to Buy) Disposed to Issuer -19.2K -100% 0 Jan 16, 2025 Common Stock 19.2K $4.74 Direct F3
transaction GATO Stock Option (Right to Buy) Disposed to Issuer -4.99K -100% 0 Jan 16, 2025 Common Stock 4.99K $15.34 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

L. Hanneman is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Disposed of pursuant to the Agreement and Plan of Merger, dated as of September 5, 2024 (the "Merger Agreement"), by and among Gatos Silver, Inc. (the "Issuer"), First Majestic Silver Corp. ("First Majestic") and Ocelot Transaction Corporation, a wholly-owned subsidiary of First Majestic ("Merger Sub"), whereby Merger Sub merged with and into the Issuer, with the Issuer continuing as the surviving entity and a wholly-owned subsidiary of First Majestic (the "Merger"). Under the terms of the Merger Agreement, at the effective time of the Merger, each share of the Issuer's common stock, par value $0.001 per share (the "Common Stock"), issued and outstanding prior to the Merger was converted into the right to receive 2.55 First Majestic common shares (the "Merger Consideration") and cash in lieu of any fractional First Majestic common shares.
F2 Represents shares underlying deferred stock units ("DSUs") of the Issuer, which were fully vested on the grant date. Pursuant to the Merger Agreement, each DSU beneficially owned by the Reporting Person will settle for the right to receive the Merger Consideration.
F3 Pursuant to the Merger Agreement, at the effective time of the Merger, each outstanding Issuer stock option beneficially owned by the Reporting Person, whether vested or unvested, was assumed by First Majestic and converted into options to acquire First Majestic Common Shares (the "Converted Options"). The Converted Options are subject to the same terms and conditions that were applicable to them prior to the Merger, except that (i) the Converted Options relate to common shares of First Majestic, and (ii) the number of First Majestic common shares subject to the Converted Options and the exercise prices thereof were determined based upon the exchange ratio pursuant to the Merger Agreement.