Company: TMCWW
Filing Date: 2025-07-18
Form Type: DEF 14A
Source: 0001104659-25-068870
Chunk: 50

Company: TMC the metals Co Inc.
Filing Date: 2025-07-18
Form: DEF 14A
Chunk 50
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(1) These options will be forfeited and these restricted stock units will not be granted if shareholders do not approve an amendment to the 2021 Incentive Equity Plan to increase the number of common shares issuable under the plan in an amount sufficient to allow for these awards. (2) The options were granted to Mr. Hess on June 4, 2025 pursuant to his June 2025 consulting agreement with us and have an exercise price of $4.66 per common shares, a 10% premium to the fair market value under the 2021 Incentive Equity Plan on the grant date and vest upon achievement of certain market-based performance thresholds. Does not include options to purchase up to an additional 2,500,000 common shares that may be granted to Mr. Hess following the first anniversary of the consulting agreement at the recommendation of our Chief Executive Officer and subject to further approval of our board of directors. The restricted stock units are to be granted to Mr. Hess under his June 2025 consulting agreement with us and 237,530 of which will vest equally over three years starting one year from the start of his consulting term and 7,500,000 of which will vest upon achievement of certain market-based performance thresholds. (3) To be granted to Mr. Spiro as compensation under his June 2025 consulting agreement with us and will vest on the fourth anniversary of the consulting agreement. (4) See notes 2 and 3. (5) The options were granted to Mr. Paes-Braga on June 4, 2025 pursuant to his June 2025 consulting agreement with us and have an exercise price of $4.66 per common shares, a 10% premium to the fair market value under the 2021 Incentive Equity Plan on the grant date and vest upon the achievement of certain market-based performance thresholds. Does not include options to purchase up to an additional 750,000 common shares that may be granted to Mr. Paes-Braga following the first anniversary of the consulting agreement at the recommendation of our Chief Executive Officer and subject to further approval of our board of directors. The restricted stock units are to be granted to Mr. Paes-Braga under his June 2025 consulting agreement with us and 178,147 of which will vest equally over three years starting one year from the start of his consulting term and 2,250,000 of which will vest upon the achievement of certain market-based performance thresholds