Ero Copper Corp.
For the period ended Dec 31, 2023. Filed Mar 7, 2024.
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The yearly report of certain Canadian companies, filed under a joint US and Canadian system. It is the main yearly account these companies give US investors, largely as filed in Canada.
FY2023 · Filed Mar 7, 2024
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EX-99.3 · (c) Deferred Share Unit Plan
(c) Deferred Share Unit Plan
The Deferred Share Unit ("DSU") plan was established by the Board as a component of compensation for the Company's independent directors. Pursuant to the DSU Plan, DSUs may only be settled by way of cash payment. A participant is not entitled to payment in respect of the DSUs until his or her death, retirement or removal from the Board. The settlement amount of each DSU is based on the fair market value of a common share on the DSU redemption date multiplied by the number of DSUs being redeemed.
Ero Copper Corp.
Notes to Consolidated Financial Statements
(Tabular amounts in thousands of US Dollars, except share and per share amounts)
The continuity of DSUs issued and outstanding is as follows:
| Year ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Outstanding balance, beginning of year | 219,961 | 131,085 |
| Issued | 87,351 | 88,876 |
| Outstanding balance, end of year | 307,312 | 219,961 |
At December 31, 2023, DSU liabilities had a fair value of $4.9 million (December 31, 2022 - $3.0 million) which has been recognized in accounts payable and accrued liabilities.
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