Company: TMCWW
Filing Date: 2025-07-18
Form Type: DEF 14A
Source: 0001104659-25-068870
Chunk: 32

Company: TMC the metals Co Inc.
Filing Date: 2025-07-18
Form: DEF 14A
Chunk 32
---
 Annual Report on Form 10-K for the year ended December 31, 2023, after which, management concluded that no adjustments to executive compensation were required because no 20

TABLE OF CONTENTS

compensation was paid to the executive officers under performance-based compensation awards pursuant to any performance goals impacted by the revisions and, therefore, that there was no excess incentive-based compensation to recover. Director Compensation Our Board of Directors Our board of directors currently consists of ten members, Gerard Barron (Chairman and Chief Executive Officer), Andrew Greig (Lead Independent Director; Compensation Committee), Andrew Hall (Audit Committee Chairperson), Michael Hess, Stephen Jurvetson, Andrei Karkar (Compensation Committee Chairperson; Nominating and Corporate Governance Committee), Sheila Khama (Audit Committee; Nominating and Corporate Governance Committee; Sustainability and Innovation Committee), Christian Madsbjerg (Audit Committee; Nominating and Corporate Governance Committee Chairperson; Sustainability and Innovation Committee), Brendan May (Sustainability and Innovation Committee Chairperson) and Alex Spiro. Six of the ten members of the board of directors are “independent” as that term is defined under the applicable rules and regulations of the SEC and the listing requirements and rules of the Nasdaq: Messrs. Greig, Hall, Karkar, Madsbjerg and May and Ms. Khama. Amelia Kinahoi Siamomua, whom served on the Sustainability and Innovation Committee, was not up for re-election at the 2025 annual meeting of shareholders held on May 29, 2025 and her term as a director ended on the date of the 2025 annual meeting. Non-Employee Director Compensation Policy On September 9, 2021, we adopted a non-employee director compensation policy. Pursuant to the policy, the annual cash retainer for non-employee directors is $90,000. Annual cash retainers for committee membership are as follows:

| Position                                                  | ​ | ​ | Retainer |   |        |   | ​ |
|:----------------------------------------------------------|:--|:--|:---------|:--|-------:|:--|:--|
| Lead independent director                                 | ​ | ​ | ​        | $ | 30,000 | ​ | ​ |
| Audit committee chairperson                               | ​ | ​ | ​        | $ | 22,500 | ​ | ​ |
| Audit committee member                                    | ​ | ​ | ​        | $ |  7,500 | ​ | ​ |