Headwater Exploration Management

Management criteria checks 2/4

Headwater Exploration's CEO is Jason Jaskela, appointed in Mar 2020, has a tenure of 4.08 years. total yearly compensation is CA$2.23M, comprised of 15.7% salary and 84.3% bonuses, including company stock and options. directly owns 0.85% of the company’s shares, worth CA$16.04M. The average tenure of the management team and the board of directors is 0.6 years and 4.1 years respectively.

Key information

Jason Jaskela

Chief executive officer

CA$2.2m

Total compensation

CEO salary percentage	15.7%
CEO tenure	4.1yrs
CEO ownership	0.9%
Management average tenure	less than a year
Board average tenure	4.1yrs

Recent management updates

Recent updates

With EPS Growth And More, Headwater Exploration (TSE:HWX) Makes An Interesting Case

Jul 06

Headwater Exploration (TSE:HWX) Is Doing The Right Things To Multiply Its Share Price

Apr 20

Is There An Opportunity With Headwater Exploration Inc.'s (TSE:HWX) 33% Undervaluation?

Apr 05

We Like These Underlying Return On Capital Trends At Headwater Exploration (TSE:HWX)

Jan 05

Headwater Exploration (TSE:HWX) Shareholders Will Want The ROCE Trajectory To Continue

Aug 04

We Like These Underlying Return On Capital Trends At Headwater Exploration (TSE:HWX)

Apr 02

CEO Compensation Analysis

How has Jason Jaskela's remuneration changed compared to Headwater Exploration's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	CA$2m	CA$350k	CA$156m
Sep 30 2023	n/a	n/a	CA$150m
Jun 30 2023	n/a	n/a	CA$132m
Mar 31 2023	n/a	n/a	CA$150m
Dec 31 2022	CA$2m	CA$260k	CA$162m
Sep 30 2022	n/a	n/a	CA$150m
Jun 30 2022	n/a	n/a	CA$145m
Mar 31 2022	n/a	n/a	CA$101m
Dec 31 2021	CA$900k	CA$225k	CA$46m
Sep 30 2021	n/a	n/a	CA$35m
Jun 30 2021	n/a	n/a	CA$7m
Mar 31 2021	n/a	n/a	CA$724k
Dec 31 2020	CA$541k	CA$125k	CA$7m

Compensation vs Market: Jason's total compensation ($USD1.61M) is below average for companies of similar size in the Canadian market ($USD2.33M).

Compensation vs Earnings: Jason's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Jason Jaskela (45 yo)

4.1yrs

Tenure

CA$2,226,625

Compensation

Mr. Jason Jowill Jaskela, P.Eng., serves as President and Director at Headwater Exploration Inc. (formerly, Corridor Resources Inc.) since March 04, 2020 and serves as its Chief Executive Officer since Jan...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Neil Roszell	Executive Chairman	4.1yrs	CA$2.00m	1.58% CA$ 29.7m
Jason Jaskela	CEO, President & Director	4.1yrs	CA$2.23m	0.85% CA$ 16.0m
Georgia Little	Interim CFO & VP of Finance	less than a year	CA$565.03k	0.045% CA$ 848.3k
Alexandra Horvath	VP of Finance & CFO (Leave of Absence)	less than a year	CA$1.46m	0.43% CA$ 8.0m
Brad Christman	Chief Operating Officer	no data	no data	0.42% CA$ 8.0m
Dieter Deines	Vice President of Exploration	less than a year	no data	0.0021% CA$ 39.1k
Edward Brown	Corporate Secretary	4.1yrs	no data	no data
Andrea Creemer	Exploitation Engineer	no data	no data	no data

0.6yrs

Average Tenure

Experienced Management: HWX's management team is not considered experienced ( 0.6 years average tenure), which suggests a new team.

Board Members

Name	Position	Tenure	Compensation	Ownership
Neil Roszell	Executive Chairman	4.1yrs	CA$2.00m	1.58% CA$ 29.7m
Jason Jaskela	CEO, President & Director	4.1yrs	CA$2.23m	0.85% CA$ 16.0m
Kevin Olson	Lead Independent Director	4.1yrs	CA$160.00k	1.34% CA$ 25.2m
David Pearce	Independent Director	4.1yrs	CA$135.00k	0.38% CA$ 7.2m
Phillip Knoll	Independent Director	13.6yrs	CA$130.00k	0.21% CA$ 3.9m
Chandra Henry	Independent Director	4.1yrs	CA$140.00k	0.30% CA$ 5.6m
Stephen Larke	Independent Director	4.1yrs	CA$140.00k	0.39% CA$ 7.3m
Kam Sandhar	Independent Director	3.3yrs	CA$125.00k	0.033% CA$ 613.8k
Elena Dumitrascu	Independent Director	1.9yrs	CA$125.00k	no data
Devery Corbin	Independent Director	less than a year	CA$80.00k	no data

4.1yrs

Average Tenure

51yo

Average Age

Experienced Board: HWX's board of directors are considered experienced (4.1 years average tenure).

Headwater Exploration Management

Management criteria checks 2/4

Key information

Recent management updates

Insider recently sold CA$1.7m worth of stock

Independent Director recently sold CA$9.7m worth of stock

Chief Operating Officer exercised options and sold CA$202k worth of stock

Independent Director recently sold CA$5.1m worth of stock

VP of Finance & CFO (Leave of Absence) exercised options and sold CA$689k worth of stock

Insider recently sold CA$1.9m worth of stock

Recent updates

Insider recently sold CA$1.7m worth of stock

Independent Director recently sold CA$9.7m worth of stock

Chief Operating Officer exercised options and sold CA$202k worth of stock

Independent Director recently sold CA$5.1m worth of stock

VP of Finance & CFO (Leave of Absence) exercised options and sold CA$689k worth of stock

Insider recently sold CA$1.9m worth of stock

Upcoming dividend of CA$0.10 per share

Independent Director exercised options to buy CA$193k worth of stock.

Fourth quarter dividend of CA$0.10 announced

Full year 2023 earnings: EPS exceeds analyst expectations

Headwater Exploration Inc. Declares First Quarter Dividend, Payable on April 15, 2024

Headwater Exploration Inc., Annual General Meeting, May 09, 2024

Price target decreased by 7.5% to CA$8.46

Lead Independent Director recently bought CA$599k worth of stock

President recently sold CA$309k worth of stock

Upcoming dividend of CA$0.10 per share at 6.1% yield

Headwater Exploration Inc. Declares Quarterly Cash Dividend, Payable on January 15, 2024

Third quarter 2023 earnings released: EPS: CA$0.21 (vs CA$0.14 in 3Q 2022)

Upcoming dividend of CA$0.10 per share at 5.6% yield

Independent Director recently sold CA$314k worth of stock

Headwater Exploration Inc. Announces Chief Financial Officer Changes

Headwater Exploration Inc. Announces Chief Financial Officer Changes

Headwater Exploration Inc. Declares Quarterly Cash Dividend, Payable on October 16, 2023

Insider recently sold CA$2.9m worth of stock

Vice-President of Exploration exercised options and sold CA$1.5m worth of stock

Independent Director recently sold CA$341k worth of stock

Headwater Exploration Inc. Announces Executive Changes

Second quarter 2023 earnings released: EPS: CA$0.13 (vs CA$0.21 in 2Q 2022)

Lead Independent Director recently sold CA$2.1m worth of stock

Upcoming dividend of CA$0.10 per share at 6.3% yield

Insider recently sold CA$1.4m worth of stock

Independent Director recently sold CA$135k worth of stock

First quarter 2023 earnings released: EPS: CA$0.13 (vs CA$0.19 in 1Q 2022)

Headwater Exploration Inc. Approves the Election of Devery Corbin as Director

Insider recently sold CA$841k worth of stock

Consensus EPS estimates fall by 15%

Independent Director recently sold CA$2.2m worth of stock

Upcoming dividend of CA$0.10 per share at 6.4% yield

Vice-President of Exploration recently sold CA$2.9m worth of stock

Full year 2022 earnings released: EPS: CA$0.71 (vs CA$0.23 in FY 2021)

Independent Director exercised options to buy CA$153k worth of stock.

Vice-President of Exploration recently sold CA$728k worth of stock

Lead Independent Director recently sold CA$952k worth of stock

High number of new and inexperienced directors

Consensus forecasts updated

Third quarter 2022 earnings released: EPS: CA$0.14 (vs CA$0.13 in 3Q 2021)

Headwater Exploration Inc. Declares Quarterly First Dividend, Payable on January 16, 2023

Investor sentiment improved over the past week

Consensus forecasts updated

Investor sentiment improved over the past week

Headwater Exploration Inc. Provides Production Guidance for the Fourth Quarter and Full Year of 2022

Second quarter 2022 earnings released: EPS: CA$0.21 (vs CA$0.023 in 2Q 2021)

An unknown buyer acquired an unknown stake in Headwater Exploration Inc. (TSX:HWX) from Cenovus Energy Inc. (TSX:CVE) for CAD 110 million.

With EPS Growth And More, Headwater Exploration (TSE:HWX) Makes An Interesting Case

Chairman & CEO recently bought CA$873k worth of stock

Investor sentiment deteriorated over the past week

Lead Independent Director recently sold CA$1.2m worth of stock

Vice President of Engineering exercised options and sold CA$4.3m worth of stock

Insider recently sold CA$101k worth of stock

Headwater Exploration Inc. Elects Elena Dumitrascu as Director

First quarter 2022 earnings: EPS and revenues exceed analyst expectations

Headwater Exploration Inc. Revises Production Guidance for the Fourth Quarter and Full Year 2022

High number of new and inexperienced directors

Headwater Exploration (TSE:HWX) Is Doing The Right Things To Multiply Its Share Price

Is There An Opportunity With Headwater Exploration Inc.'s (TSE:HWX) 33% Undervaluation?

Consensus forecasts updated

Full year 2021 earnings: EPS and revenues exceed analyst expectations

Headwater Exploration Inc., Annual General Meeting, May 12, 2022

Consensus forecasts updated