SEC Form 4 · accession 0001193125-26-262202
Sunshine Silver Mining & Refining Co · SSMR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owners
Thomas Scott Kaplan
Director · 10% Owner
ELECTRUM GLOBAL HOLDINGS L.P.
Director · 10% Owner
Electrum Group LLC
Director · 10% Owner
TEG Global GP Ltd.
Director · 10% Owner
Electrum Strategic Opportunities Fund II L.P.
Director · 10% Owner
Electrum Strategic Opportunities Fund II GP L.P.
Director · 10% Owner
ESOF II GP Ltd.
Director · 10% Owner
Electrum Silver US II LLC
Director · 10% Owner
Electrum Strategic Management LLC
Director · 10% Owner
Electrum Silver US LLC
Director · 10% Owner
Period of report
Jun 5, 2026
Accepted (ET)
Jun 8, 2026 · 6:00 pm EDT
Rule 10b5-1 plan
box not checked
Issuer CIK
0002091017
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jun 5, 2026 | A | 8,929 | $0.00 | A | 8,929 | D | |
| Common StockF3 | Jun 5, 2026 | M | 2,739,640 | $2.87 | A | 78,677,940 | I | By Electrum Silver US LLC |
| Common StockF3 | Jun 5, 2026 | F | 582,022 | $13.50 | D | 78,095,918 | I | By Electrum Silver US LLC |
| Common StockF4 | holding | — | — | — | 7,365,270 | I | By Electrum Silver US II LLC | |
| Common StockF5 | holding | — | — | — | 1,266,260 | I | By Tigris Financial Group Ltd. | |
| Common StockF6 | holding | — | — | — | 60,010 | I | By Manul Capital Management LLC | |
| Common StockF7 | holding | — | — | — | 393,230 | I | By GRAT Holdings LLC |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Warrant (right to buy)F3 | $2.87 | Jun 5, 2026 | M | 2,739,640 | D | Sep 2, 2022 | Sep 2, 2027 | Common Stock | 2,739,640 | 0 | I |
Explanation of responses
- F1Represents restricted stock units ("RSUs") granted to Thomas S. Kaplan. Each RSU represents a contingent right to receive one share of the Issuer's common stock. The RSUs vest in full on the earlier of (i) the first anniversary of the grant date or (ii) the day immediately proceeding the date of the Issuer's 2027 Annual Meeting of Stockholders, subject to Mr. Kaplan's continued service as a member of the Issuer's Board of Directors through such date.
- F2This transaction relates to the net exercise of warrants to purchase 2,739,640 shares of the Issuer's common stock immediately prior to the completion of the initial public offering of the Issuer's common stock, in accordance with the terms of the warrants.
- F3These securities are owned directly by Electrum Silver US LLC ("ESUS"). Electrum Strategic Management LLC ("ESM") is the manager of ESUS. ESM is wholly owned by Electrum Global Holdings L.P. ("Global Holdco"), and TEG Global GP Ltd. ("TEG Global") is the general partner of Global Holdco. The Electrum Group LLC ("TEG") acts as an investment advisor to Global Holdco. Thomas S. Kaplan, Chairman of the Issuer's Board of Directors, is also Chairman, Chief Executive Officer and Chief Investment Officer of TEG. Each of these reporting persons (other than Mr. Kaplan who is a director of the Issuer) may be deemed to be a director by deputization of the Issuer.
- F4These securities are owned directly by Electrum Silver US II LLC ("ESUS II"). Electrum Strategic Opportunities Fund II L.P. ("ESOF II") owns 99% of ESUS II, and ESM is the manager of ESUS II. ESM is wholly owned by Global Holdco, and TEG Global is the general partner of Global Holdco. The general partner of ESOF II is Electrum Strategic Opportunities Fund II GP L.P. ("ESOF II GP L.P."), and the general partner of ESOF II GP L.P. is ESOF II GP Ltd. ("ESOF II GP"). ESOF II GP is wholly owned by Global Holdco. TEG acts as an investment advisor to ESOF II. Thomas S. Kaplan, Chairman of the Issuer's Board of Directors, is also Chairman, Chief Executive Officer and Chief Investment Officer of TEG. Each of these reporting persons (other than Mr. Kaplan who is a director of the Issuer) may be deemed to be a director by deputization of the Issuer.
- F5These securities are owned directly by Tigris Financial Group Ltd., which is wholly owned by Thomas S. Kaplan.
- F6These securities are owned directly by Manul Capital Management LLC. Thomas S. Kaplan serves as managing member of Manul Capital Management LLC.
- F7These securities are owned directly by GRAT Holdings LLC. Thomas S. Kaplan serves as managing member of GRAT Holdings LLC.
Remarks
The reporting persons may be deemed to be members of a Section 13(d) group that collectively beneficially owns more than 10% of the Issuer's outstanding common stock. The filing of this report shall not be deemed to be an admission that the reporting persons are members of such a group. Each reporting person disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest, if any, and this report shall not be deemed to be an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose. Because no more than 10 reporting persons can file any one Form 4 through the Securities and Exchange Commission's EDGAR system, certain affiliates of the reporting persons have filed a separate Form 4.