Hut 8 Corp

1. 1

   Election of Directors

   ManagementBoard: FOR

   Election of eight nominees (Joseph Flinn, Asher Genoot, Michael Ho, E. Stanley O’Neal, Carl J. (Rick) Rickertsen, Mayo A. Shattuck III, William Tai, and Amy Wilkinson) to hold office until the 2027 annual meeting.

2. 2

   Advisory Vote on the Compensation of Our Named Executive Officers (Say-on-Pay

   ManagementBoard: FOR

   Non-binding advisory vote to approve the compensation of the company’s named executive officers as disclosed in the proxy statement (say-on-pay).

   More detail

   This advisory (non-binding) proposal asks stockholders to approve the compensation programs for the named executive officers as disclosed in the proxy statement, including the Compensation Discussion and Analysis and related pay tables. Management seeks this approval to obtain stockholder endorsement of its pay philosophy: a pay-for-performance structure that emphasizes a modest base salary and substantial at-risk compensation tied to operational, strategic, and market-based performance metrics, including PSUs and RSUs and special Transformation Awards for co-founders. The company frames its 2025 compensation decisions around an ambitious multi-year transformation from a mining operator to a power-first energy infrastructure platform, citing major commercial achievements (e.g., River Bend lease, Anthropic partnership, carve-out of American Bitcoin) to justify outsized equity awards and one-time transformation grants. The board recommends a FOR vote arguing that the package aligns management incentives with long-term shareholder value, promotes retention of key leaders, and is calibrated with rigorous performance metrics and holding periods to protect against short-termism. Opposing considerations include the very large equity grants (notably Transformation Awards) that substantially increase potential dilution and concentrate upside with founders, and unusually high maximum PSU payout multiples (up to 300%) compared with market norms. The advisory vote does not change pay directly but would signal shareholder acceptance or rejection of management’s approach; a negative vote would likely trigger engagement and potential changes to compensation design. In evaluating the proposal, sophisticated analysts should weigh demonstrated 2025 performance and strategic milestones against dilution, governance optics, and whether metrics and holding periods provide adequate downside protection and alignment. The company highlights governance safeguards—double-trigger change-in-control treatment, clawback policy, post-vesting holding requirements, and committee oversight—but the controversy centers on the size and structure of founder-directed transformation awards and whether those awards are sufficiently performance-conditioned given prior rapid share-price appreciation.

3. 3

   Ratification of Appointment of Independent Registered Public Accounting Firm

   ManagementBoard: FOR

   Ratify appointment of KPMG LLP as Hut 8’s independent registered public accounting firm for fiscal year ending December 31, 2026.

4. 4

   Approval of an Amendment to the Amended and Restated Hut 8 Corp. 2023 Omnibus Incentive Plan

   ManagementBoard: FOR

   Approve an increase of 5,000,000 shares to the reserve available for issuance under the Amended and Restated Hut 8 Corp. 2023 Omnibus Incentive Plan.

   More detail

   This management proposal requests stockholder approval to increase the share reserve under the company’s 2023 Omnibus Incentive Plan by 5,000,000 shares to support ongoing and near-term equity grants. Management frames the request as necessary to preserve the company’s ability to grant PSUs, RSUs, options, and other awards that are central to its pay-for-performance compensation philosophy and to retain and recruit talent amid an aggressive multi‑gigawatt AI data center development agenda. The board emphasizes governance features designed to limit abuse—no recycling of shares, prohibition on repricing without shareholder approval, double-trigger change-in-control vesting, post-vesting holding periods, clawback provisions, director compensation caps, and limits on insider issuance—arguing these mitigate dilution and align long-term incentives. The company discloses historical burn rates and overhang metrics and states that without approved capacity it risks having to increase cash pay or lose key employees. Critics may note that much of the recent equity grant activity has been large (including Transformation Awards) and that approving additional authorization will increase potential dilution and overhang; sophisticated analysts should therefore assess the company’s historical grant practices, the stated use of awards (e.g., contingent PSUs tied to performance), and the specific governance safeguards in the amended plan when judging the request. The board’s recommendation for a FOR vote is based on a view that controlled additional capacity preserves competitive compensation flexibility while the plan’s structural protections limit downside to shareholders. If approved, the contingent PSUs and RSUs described in the proxy would be granted; if not approved, those awards would be forfeited and management would have limited levers to continue its equity-based retention strategy.

5. 5

   Transaction of Any Other Business Properly Coming Before the Meeting

   Management

   Consideration of and proxy discretion to vote on any other matters that properly come before the Annual Meeting, including adjournments or postponements.

   More detail

   This catch‑all item authorizes the meeting to consider any additional proposals or matters that may properly come before the Annual Meeting, including adjournments or postponements. In this proxy statement, the company states it has not received any stockholder proposals under its advance notice bylaw and does not anticipate other matters, but reserves proxy-holder discretion to vote on unforeseen items. The practical effect is limited: because the board and proxy holders have discretion, routine procedural or technical matters may be handled without a separate vote, but any substantive non‑disclosed proposal received late may face procedural hurdles and limited disclosure. For beneficiaries holding shares in street name, brokers generally cannot vote on non-routine matters (like director elections, say-on-pay, and amendments to incentive plans) without instructions, so broker non‑votes could materially affect outcomes for any ad-hoc proposal. Analysts should note that the company’s bylaws require advance notice for stockholder proposals and that management has signaled no expected additional business; thus this item primarily preserves procedural flexibility rather than representing a discrete governance change. If truly material additional business were to arise, the company would likely provide supplemental disclosure or allow discretionary proxy-voting as permitted; however, the absence of advance notice and limited disclosure means that any significant late-submitted proposal would be procedurally disadvantaged.

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When is the Hut 8 Corp 2026 annual meeting?

Hut 8 Corp (HUT) holds its 2026 annual shareholder meeting on Thursday, June 11, 2026.

What is the record date for the Hut 8 Corp 2026 meeting?

The record date for the Hut 8 Corp 2026 meeting is Monday, April 13, 2026. Shareholders of record on or before that date are eligible to vote.

Who are the director nominees for Hut 8 Corp's 2026 meeting?

The board is presenting 8 director nominees at the Hut 8 Corp 2026 meeting, listed with their independence status and background.

What proposals will shareholders vote on at the Hut 8 Corp 2026 meeting?

Shareholders will vote on 5 proposals at the Hut 8 Corp 2026 meeting, each tagged with who proposed it and the board's recommendation.