Company: TMCWW
Filing Date: 2025-07-08
Form Type: PRE 14A
Source: 0001104659-25-066460
Chunk: 41

Company: TMC the metals Co Inc.
Filing Date: 2025-07-08
Form: PRE 14A
Chunk 41
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,262,856 common shares. Without this increase, as of June 16, 2025, 163,526 common shares remained available for future issuance under the 2021 Incentive Equity Plan.

As of June 16, 2025, there were 36,831,645 common shares underlying restricted stock units outstanding and 11,190,000 common shares underlying options with a weighted average exercise price of $3.42 and a weighted average remaining term of approximately 5.17 years, 6,500,000 of such options with exercise prices of $4.66 and remaining terms of approximately five years are subject to shareholder approval of the amendment to the 2021 Incentive Equity Plan set forth in this Proposal No. 1. In addition, we have committed to granting an aggregate of an additional 11,915,677 restricted stock units that are subject to shareholder approval of the amendment to the 2021 Incentive Equity Plan set forth in this Proposal No. 1. See “ New Plan Benefits ” below for additional information about these options and restricted stock units.

Accordingly, we are seeking approval to increase the aggregate number of common shares available for the grant of awards under the 2021 Incentive Equity Plan by an additional 40,000,000 common shares. Without approval of this amendment to increase the common shares authorized under the 2021 Incentive Equity Plan, we will not be able to honor our previous grant of options to purchase 6,500,000 common shares and commitment to grant 11,915,677 restricted stock units that are subject to shareholder approval of the amendment to the 2021 Incentive Equity Plan set forth in this Proposal No. 1.

The 2021 Incentive Equity Plan was approved by our board of directors and shareholders in 2021 and amended by our board of directors in 2024 and again on July 8, 2025 to increase the aggregate number of common shares available for awards under the 2021 Incentive Equity Plan by an additional 40,000,000 common shares. The July 2025 amendment to increase the number of common shares available for grant under the 2021 Incentive Equity Plan is being submitted for approval at the Special Meeting in order to ensure that we have an adequate number of common shares available for issuance in order to grant equity incentive compensation awards to our employees, consultants and directors pursuant to our compensation programs and to fulfill commitments we have made with respect to options