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

Chief Financial Officer of TMC the metals Co Inc., Craig Shesky, sold shares to cover tax obligations following the vesting of restricted stock units.

Summary

• On March 20, 2024, Craig Shesky, the CFO of TMC the metals Co Inc., had 187,663 restricted stock units (RSUs) convert to common shares.
• Additionally, on the same day, Shesky acquired 213,362 RSUs as part of the Issuer's short-term incentive plan, which vested immediately.
• On March 22, 2024, Shesky sold 233,424 common shares at an average price of $1.6087 per share to cover tax withholding obligations related to the vesting of the RSUs.
• Following these transactions, Shesky beneficially owns 947,242 common shares and 375,324 RSUs from a previous grant and 499,505 RSUs from the current grant.
• The RSUs granted on March 20, 2023, vest in three equal installments on March 20, 2024, March 20, 2025, and March 20, 2026.
• The RSUs granted on March 20, 2024, also vest in three equal installments on March 20, 2024, March 20, 2025, and March 20, 2026.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing reflects routine transactions related to executive compensation and tax obligations.

Industry Context

This filing is a routine disclosure of insider transactions, specifically the sale of shares to cover tax obligations arising from the vesting of restricted stock units. It's a common practice among executives who receive equity compensation.

Stakeholder Impact

• The sale of shares could have a minor, temporary impact on the stock price due to increased selling pressure.

Key Dates