Form 4: TMC the metals Co Inc. CFO Sells Shares to Cover Tax Obligations

Craig Shesky, CFO of TMC the metals Co Inc., sold 353,702 common shares to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On April 1, 2025, Craig Shesky, the Chief Financial Officer of TMC the metals Co Inc., sold 353,702 common shares.
• The sale was executed to cover tax withholding obligations associated with the vesting of restricted stock units granted on March 20, 2023, March 20, 2024 and March 20, 2025.
• The shares were sold at an average price of $1.6554, with individual transactions ranging from $1.61 to $1.78 per share.
• Following the transaction, Shesky directly owns 1,145,717 common shares.

Sentiment

Score: 6

Explanation: The document is a routine disclosure of a share sale by an executive to cover tax obligations. It doesn't contain any information that would significantly impact investor sentiment positively or negatively.

Industry Context

Sales of shares to cover tax obligations upon vesting of restricted stock units are a common practice among company executives and are generally not indicative of the company's financial health or future prospects.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units that vest over time.
• Upon vesting, these units are taxed as ordinary income, leading executives to sell a portion of their shares to cover the tax liability.
• This 'sell to cover' strategy is a standard practice and doesn't necessarily reflect a lack of confidence in the company's future.
• Comparable companies in the resource sector, such as DeepGreen Metals (now TMC), often utilize similar equity-based compensation strategies.

Key Dates

Keywords

TMC the metals Co Inc., Craig Shesky, CFO, Form 4, Share Sale, Restricted Stock Units, Tax Withholding, Beneficial Ownership