Company: TMCWW
Filing Date: 2025-07-18
Form Type: DEF 14A
Source: 0001104659-25-068870
Chunk: 19

Company: TMC the metals Co Inc.
Filing Date: 2025-07-18
Form: DEF 14A
Chunk 19
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 be earned from 0% to 100% of target based on achievement of pre- determined corporate short-term objectives that are aligned with our strategic plan as well as individual performance.             
 Awards are paid in cash upon the completion of the fiscal year; however, for 2024, 2023 and 2022, at the election of the Company, STIP awards were paid in immediately-vested RSUs to conserve operating cash. | ​ |
| Equity Compensation              |   |   |                                                                           |   |   |             |   |   |                                                                                                                                                                                                                | ​ |
| Long-term incentives (LTIP)      | ​ | ​ | Reinforce and drive long-term shareholder value                           
 Retain executives over a multi-year period                                
 Incentivize the achievement by management of multi-year performance goals | ​ | ​ | 3 years     | ​ | ​ | For 2024, 2023 and 2022, grants were in the form of RSUs that vest one-third per year over three years.                                                                                                        | ​ |

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TABLE OF CONTENTS Equity Compensation for Our NEOs We use long-term equity-based compensation to incentivize and retain our executive officers by linking their awards to the achievement of our long-term strategic goals. We typically award long-term equity-based compensation with restricted share units that vest over time so long as the executive remains employed with the Company. The compensation committee determines the size of equity award grants after considering the following factors: • the competitive equity compensation practices for comparable positions identified in the applicable market analysis; • the executive’s level of responsibility and duties; • a comparison to grant levels of other executive officers; • individual named executive officers’ performance; • our corporate performance; • our total equity compensation costs relative to total expenses; The compensation committee does not take into consideration an executive’s aggregate equity holdings or equity carrying value in determining annual long-term equity incentive awards. In March 2025, our compensation committee granted equity awards to our NEOs under the STIP and LTIP for the 2024 performance year, including to our Chief Executive Officer. They considered, to the extent applicable, our corporate performance and individual contributions in 2024 as well as in prior years. The compensation committee determined the value of each LTIP equity award as time-based RSUs that vest one-third per year over three years based on the potential equity compensation expense and the target award size, as well as the retention and incentive aspects of the award. The total value was also informed by the competitive analysis conducted by FW