Form 4: Glencore and Kunal Sinha Report Beneficial Ownership Changes in Li-Cycle Holdings Corp.

Glencore plc, along with related entities and Kunal Sinha, reported changes in beneficial ownership of Li-Cycle Holdings Corp. due to the grant of restricted stock units to Mr. Sinha.

Summary

• Glencore plc, Glencore International AG, Glencore Canada Corporation, and Kunal Sinha (collectively, the 'Reporting Persons') filed a Form 4 to report changes in beneficial ownership of Li-Cycle Holdings Corp.
• The earliest transaction date reported is May 23, 2024.
• The reported changes involve the acquisition of restricted stock units (RSUs) by Kunal Sinha, a director of Li-Cycle and Global Head of Recycling at Glencore, under Li-Cycle's 2021 Incentive Award Plan.
• Mr. Sinha was awarded 220,855 RSUs for his service as a non-employee director.
• These RSUs represent the contingent right to receive one common share of Li-Cycle, subject to time-vesting conditions and Mr. Sinha's continued service.
• Mr. Sinha holds these securities for the benefit of Glencore and may transfer them to Glencore or its subsidiaries after vesting.
• The filing clarifies the relationships between the Reporting Persons, with Glencore plc being the parent company of Glencore International AG, and Glencore Canada Corporation being an indirect wholly-owned subsidiary of Glencore International AG.
• The Reporting Persons disclaim beneficial ownership of the securities, except to the extent of their respective pecuniary interests.

Sentiment

Score: 7

Explanation: The document is a standard regulatory filing related to stock ownership. The sentiment is neutral to slightly positive as it reflects ongoing director compensation.

Positives

• The grant of RSUs to a director aligns his interests with the company's long-term performance.

Industry Context

This filing is a routine disclosure related to changes in beneficial ownership, common in publicly traded companies. The granting of RSUs is a typical form of compensation for directors.

Stakeholder Impact

• The RSU grant could have a minor positive impact on shareholder sentiment as it aligns director interests with company performance.

Key Dates