Company: TMCWW
Filing Date: 2025-04-08
Form Type: PRE 14A
Source: 0001104659-25-032724
Chunk: 36

Company: TMC the metals Co Inc.
Filing Date: 2025-04-08
Form: PRE 14A
Chunk 36
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 other NEOs has been in place since September 9, 2021 and is the ongoing compensation program for these NEOs post-Business Combination. Our executive compensation plan includes base salaries, Short-Term Incentive Program (paid in restricted share units for 2024), and a Long-Term Incentive Program (granted in the form of restricted share units grants for 2024).

As discussed in more detail below, in 2024, our executive compensation program was designed to provide our NEOs with meaningful incentives and rewards, while effectively balancing the short-term and long-term interests of our shareholders with our ability to attract and retain talented executives. The compensation committee of our board has the primary responsibility for establishing our executive compensation philosophy and determining the specific components and levels of each named executive officer’s compensation. Our executive compensation program is based on four guiding principles. We have created a compensation program that combines short-term and long-term components, cash, equity, fixed and performance- based contingent payments, in the proportions that we believe achieve these four guiding principles:

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enhance shareholder value by aligning the financial interests of our NEOs with those of our shareholders;

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enable us to attract, motivate and retain the people needed to define and lead our industry;

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integrate compensation closely with the achievement of our business and performance objectives; and

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reward the individual performance that contributes to our short-term and long-term success.

The compensation committee utilized and relied significantly on a competitive market analysis when determining the size, components and mix of our NEOs’ compensation packages.

As discussed in more detail below, our NEOs’ target annual compensation generally consists of three principal components: (a) base salary, (b) an annual performance Short-Term Incentive Plan (“STIP”) and (c) long-term equity incentive compensation under our Long-Term Incentive Plan (“LTIP”). The base salary component is primarily designed to provide a predictable level of financial stability. The STIP is designed to reward the achievement of annual goals that are aligned with our strategic plan. The base salary and STIP are referred to as the cash component of the compensation plan. The LTIP is the

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equity compensation component and is primarily designed to incentivize and retain our executives over a multi-year period and to reward the achievement of our long-term financial and strategic objectives. Elements of Compensation for Our NEOs Our executive compensation program consists of three principal components: base salary, STIP,