Company: TMCWW
Filing Date: 2025-07-08
Form Type: PRE 14A
Source: 0001104659-25-066460
Chunk: 44

Company: TMC the metals Co Inc.
Filing Date: 2025-07-08
Form: PRE 14A
Chunk 44
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110,262,856 common shares, including the additional 40,000,000 common shares for which we are seeking shareholder approval at the Special Meeting, provided that 2,243,853 of the common shares available under the 2021 Incentive Equity Plan will only be available to our non-employee directors. Notwithstanding the foregoing, the number of future shares that may be issued will increase automatically on the first day of each fiscal year during the period beginning with fiscal year 2022 and ending on the tenth anniversary of the closing of going-public business combination transaction in September 2021, equal to the lesser of (a) 4% of the number of outstanding Common Shares on such date, and (b) an amount determined by the plan administrator. See “ Overview ” above for additional information about the number of shares available for issuance, outstanding awards and awards we are committed to granting under the 2021 Incentive Equity Plan. There were initially 24,682,386 common shares reserved for issuance under the

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2021 Incentive Equity Plan and 45,580,470 additional common shares were added to the plan reserve through this annual increase provision prior to the 40,000,000 common share increase to the plan reserve for which we are now seeking shareholder approval.

Generally, common shares reserved for awards under the 2021 Incentive Equity Plan that lapse or are forfeited or cancelled will be added back to the share reserve available for future awards. However, shares delivered to or withheld to pay withholding taxes or any applicable exercise price will not be available for issuance under the 2021 Incentive Equity Plan. In addition, any shares repurchased on the open market using exercise price proceeds will not be available for issuance under the 2021 Incentive Equity Plan.

The aggregate grant date fair value of shares granted to any non-employee director under the 2021 Incentive Equity Plan and any other cash compensation paid to any non-employee director for director services in any calendar year may not exceed $500,000; increased to $750,000 in the year in which such non-employee director initially joins the board of directors. These $500,000 and $750,000 limitations are determined without regard to amounts paid to a non-employee director during any period in which such individual was an employee or consultant (other than grants of awards paid for service in their capacity as a non-employee director), and any sever