Company: TMCWW
Filing Date: 2025-07-18
Form Type: DEF 14A
Source: 0001104659-25-068870
Chunk: 39

Company: TMC the metals Co Inc.
Filing Date: 2025-07-18
Form: DEF 14A
Chunk 39
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 OF CONTENTS PROPOSAL NO. 1
APPROVAL OF AN ORDINARY RESOLUTION APPROVING AN AMENDMENT TO OUR 2021 INCENTIVE EQUITY PLAN TO INCREASE THE SHARE POOL FOR EQUITY INCENTIVE GRANTS UNDER THE PLAN
(Notice Item 1) Overview Our board of directors is requesting that our shareholders approve an ordinary resolution to approve an amendment our 2021 Incentive Equity Plan, which amendment was approved by the board of directors on July 8, 2025 and is subject to approval by our shareholders at the Special Meeting. If this Proposal No. 1 is approved, the number of common shares reserved for issuance under the 2021 Incentive Equity Plan will be increased by 40,000,000 common shares from 70,262,856 common shares to 110,262,856 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 202