Company: TMCWW
Filing Date: 2025-07-18
Form Type: DEF 14A
Source: 0001104659-25-068870
Chunk: 48

Company: TMC the metals Co Inc.
Filing Date: 2025-07-18
Form: DEF 14A
Chunk 48
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 least two years after grant of the option and one year after exercise, the excess of the amount realized on the sale over the exercise price will be taxed as capital gain. If the common shares acquired on exercise of an incentive stock option are disposed of within less than two years after grant or one year of exercise, the optionee will realize taxable compensation income equal to the lesser of (i) the excess of the fair market value of the common shares on the date of exercise over the option price or (ii) the excess of the amount realized on the sale over the option price. Any additional amount realized will be taxed as capital gain. Stock Grants With respect to stock grants involving the issuance of shares that are restricted as to transferability and subject to a substantial risk of forfeiture, the grantee must generally recognize ordinary income equal to the fair market value of the shares received at the first time the shares become transferable or are not subject to a substantial risk of forfeiture, whichever occurs earlier. A grantee may elect to be taxed at the time of receipt of shares rather than upon lapse of restrictions on transferability or substantial risk of forfeiture, but if the grantee subsequently forfeits the shares, the grantee would not be entitled to any tax deduction, including as a capital loss, for the value of the shares on which the grantee previously paid tax. The grantee must file such election with the Internal Revenue Service within 30 days of the receipt of the shares. We generally will be entitled to a deduction in an amount equal to the ordinary income recognized by the grantee. Stock Units The grantee recognizes no income until the issuance of unrestricted shares. At that time, the grantee must generally recognize ordinary income equal to the fair market value of the shares received. We generally will be entitled to a deduction in an amount equal to the ordinary income recognized by the grantee. Existing Plan Benefits The following table sets forth all awards issued as of June 16, 2025 to our named executive officers, directors and employees since the inception of the 2021 Incentive Equity Plan, other than the option awards and planned restricted stock unit awards set forth in the table under “ New Plan Benefits ” below.

| Name and Position or Group                                                               | ​ | ​ | Options |   |           |   | ​ | ​ | RSUs |   |            |   | ​ |
| Gerard Barron, Chairman and Chief Executive Officer(1)                                   | ​ | ​ | ​       | ​ |         — | ​ | ​ | ​ | ​