Form 4: Arcadium Lithium Director Marcet Pablo Disposes of Shares in Rio Tinto Acquisition

Director Marcet Pablo reports the disposal of Arcadium Lithium shares and restricted stock units following the acquisition by Rio Tinto, receiving $5.85 per share.

Summary

• Director Marcet Pablo disposed of Arcadium Lithium shares and restricted stock units on March 6, 2025, due to the acquisition by Rio Tinto.
• The transaction was executed under the Transaction Agreement dated October 9, 2024.
• Each share was converted into the right to receive $5.85 in cash.
• 9,115 ordinary shares were disposed of directly.
• 40,786 restricted stock units were canceled in exchange for the right to receive the cash consideration.
• 50,876 ordinary shares were disposed of indirectly through Geo Logic SA.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The transaction provides a clear exit for shareholders at a defined price, which is generally viewed favorably. However, it also marks the end of Arcadium Lithium as an independent entity.

Positives

• The acquisition by Rio Tinto provided a clear exit strategy for shareholders and holders of restricted stock units.
• The cash consideration of $5.85 per share provides immediate liquidity to the reporting person.

Future Outlook

The document does not contain any forward-looking statements regarding the future outlook of the company or the reporting person.

Industry Context

This announcement reflects a trend of consolidation in the lithium mining industry, with larger companies like Rio Tinto acquiring smaller players to secure resources and expand their market presence in the electric vehicle battery supply chain.

Comparison to Industry Standards

• The acquisition price of $5.85 per share can be compared to other recent acquisitions in the lithium sector to assess whether it represents a fair valuation.
• For example, the takeover of Lithium Americas by Ganfeng Lithium can be used as a benchmark for comparison.
• The premium paid by Rio Tinto over Arcadium's pre-acquisition share price would be a key metric to evaluate the deal's attractiveness.

Stakeholder Impact

• Shareholders received cash consideration for their shares.
• Holders of restricted stock units received cash consideration for their units.
• The acquisition may impact employees of Arcadium Lithium, depending on Rio Tinto's integration plans.

Key Dates