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

Craig Shesky, CFO of TMC the metals Co Inc., sold 47,523 common shares to cover tax obligations related to vesting restricted stock units.

Summary

• Craig Shesky, the Chief Financial Officer of TMC the metals Co Inc., sold 47,523 common shares on November 27, 2024.
• The sale was executed to cover tax withholding obligations associated with the vesting of restricted stock units granted on November 22, 2024.
• The transaction was not a discretionary sale by Mr. Shesky but an automatic 'sell to cover' transaction.
• The shares were sold at an average price of $0.8456, with individual sales ranging from $0.84 to $0.87 per share.
• Following the transaction, Mr. Shesky still beneficially owns 977,844 common shares.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction related to executive compensation and does not indicate any positive or negative sentiment.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.

Comparison to Industry Standards

• Sales of shares by executives to cover tax obligations are a common practice across publicly traded companies.
• The 'sell to cover' mechanism is a standard method for handling tax liabilities associated with vesting stock awards.
• The transaction is consistent with standard practices for executive compensation and tax management.

Stakeholder Impact

• The sale of shares by the CFO has a minimal impact on shareholders as it is a routine transaction.

Key Dates

Keywords

TMC the metals Co Inc., Craig Shesky, CFO, stock sale, tax obligations, restricted stock units, sell to cover, insider trading