Form 4: Arcadium Lithium CFO Reports Disposal of Shares and Stock Options Following Rio Tinto Acquisition

CFO of Arcadium Lithium, Gilberto Antoniazzi, reports the disposal of ordinary shares and stock options due to the acquisition by Rio Tinto, with shareholders receiving $5.85 per share.

Summary

• Gilberto Antoniazzi, CFO, VP & Treasurer of Arcadium Lithium plc, filed a Form 4 detailing changes in beneficial ownership.
• The filing reports transactions occurring on March 6, 2025, related to the acquisition of Arcadium Lithium by Rio Tinto.
• Antoniazzi disposed of 24,779 ordinary shares and 257,837 ordinary shares.
• These disposals were a result of the Transaction Agreement where each share of Arcadium common stock was converted into the right to receive $5.85 per share in cash.
• Arcadium restricted stock units (RSUs) were canceled and exchanged for restricted stock units of Rio Tinto plc or Rio Tinto Limited.
• Arcadium stock options were also canceled and exchanged for stock options of Rio Tinto plc or Rio Tinto Limited.
• The exchange ratio for both RSUs and stock options was 0.0920493627351811, based on the average volume weighted average price of Rio Tinto shares.
• The number of Listed Shares subject to each such Rio Tinto Options equals the number of shares of Arcadium common stock subject to the corresponding Arcadium Options immediately prior to the Effective Time multiplied by the Equity Award Conversion Ratio.
• The exercise price of each such Rio Tinto Option equals the exercise price of the corresponding Arcadium Options divided by the Equity Award Conversion Ratio.

Sentiment

Score: 7

Explanation: The document reflects a completed acquisition, which is generally a positive event for shareholders who received cash consideration. The sentiment is neutral to positive as it represents a finalized transaction.

Positives

• Shareholders received $5.85 per share in cash as part of the acquisition.

Future Outlook

The acquisition by Rio Tinto is complete, and Arcadium Lithium is now part of Rio Tinto's portfolio.

Industry Context

The acquisition reflects the ongoing consolidation in the lithium mining industry, driven by increasing demand for lithium in batteries for electric vehicles and energy storage.

Comparison to Industry Standards

• Rio Tinto's acquisition of Arcadium Lithium is similar to other major mining companies acquiring lithium assets to secure their supply chain for battery materials.
• Comparable transactions include Albemarle's acquisition of Rockwood Holdings and Ganfeng Lithium's acquisition of various lithium projects globally.
• The $5.85 per share consideration is within the typical range for acquisitions of lithium mining companies, reflecting the market value of lithium assets and future growth potential.

Stakeholder Impact

• Shareholders received $5.85 per share in cash.
• Employees of Arcadium Lithium are now part of Rio Tinto.
• The acquisition may impact suppliers and customers of Arcadium Lithium as they integrate into Rio Tinto's operations.

Key Dates