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

Anthony O'Sullivan, Chief Development Officer of TMC the metals Co Inc., sold a portion of his common shares to cover income tax obligations associated with restricted stock units.

Summary

• Anthony O'Sullivan, Chief Development Officer of TMC the metals Co Inc., reported the sale of common shares across three days: May 21, 22, and 23, 2024.
• The sales were executed to cover income tax obligations related to restricted stock units granted on March 20, 2024.
• On May 21, 2024, 50,000 shares were sold at an average price of $1.3948 per share.
• On May 22, 2024, 25,000 shares were sold at an average price of $1.4044 per share.
• On May 23, 2024, 25,000 shares were sold at an average price of $1.48 per share.
• Following these transactions, O'Sullivan directly owns 846,829 common shares and indirectly owns 385,110 shares through JOZEM Pty Ltd., trustee of The O'Sullivan Family Trust No. 1.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing share sales by an officer to cover tax obligations. It doesn't inherently convey positive or negative sentiment about the company's prospects.

Industry Context

This filing is a routine disclosure of insider transactions, which are common and legal as long as they comply with SEC regulations. It provides transparency into the actions of company executives.

Stakeholder Impact

• The share sales may have a minor dilutive effect on existing shareholders, but the impact is likely minimal given the relatively small number of shares sold compared to the total outstanding shares.

Key Dates