Company: TMCWW
Filing Date: 2025-07-08
Form Type: PRE 14A
Source: 0001104659-25-066460
Chunk: 46

Company: TMC the metals Co Inc.
Filing Date: 2025-07-08
Form: PRE 14A
Chunk 46
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 of death or total and permanent disability but will not be exercisable if the termination of service was due to cause.

#### Restricted Stock
Restricted stock that is subject to restrictions, including a prohibition against transfer and a substantial risk of forfeiture, until the end of a “restricted period” during which the grantee must satisfy certain time or performance-based vesting conditions. If the grantee does not satisfy the vesting conditions by the end of the restricted period, the restricted stock is forfeited. During the restricted period, the holder of restricted stock has the rights and privileges of a regular shareholder, except that generally dividend equivalents may accrue but will not be paid during the restricted period, and the restrictions set forth in the applicable award agreement apply. For example, the holder of restricted stock may vote the restricted shares, but he or she may not sell the shares until the restrictions are lifted.

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#### Restricted Share Units
Restricted share units vest in accordance with terms and conditions established by the plan administrator and when the applicable restrictions lapse, the grantee will be entitled to receive a payout in cash, shares or a combination thereof based on the number of restricted share units as specified in the award agreement. Dividend equivalents may accrue but will not be paid prior to and only to the extent that, the restricted stock unit award vests. The holder of restricted share units does not have the rights and privileges of a regular shareholder, including the ability to vote the restricted share units.

**Other Share-Based Awards and Performance-Based Awards**

The 2021 Incentive Equity Plan also authorizes the grant of other types of share-based compensation including, but not limited to, share appreciation rights and unrestricted share awards. The plan administrator may award such share-based awards subject to such conditions and restrictions as it may determine. We may grant an award conditioned on satisfaction of certain performance criteria. Such performance-based awards also include performance-based restricted shares and restricted share units.

Any dividends or dividend equivalents payable or credited to a participant with respect to any unvested performance-based award will be subject to the same performance goals as the shares or units underlying the performance-based award.

#### Plan Administration
In accordance with the terms of the 2021 Incentive Equity Plan, the board of directors may administer the 2021 Incentive Equity Plan or authorize the compensation committee to administer the 2021 Incentive Equity Plan. The compensation committee may delegate part of its authority and powers under the 2021 Incentive Equity