Company: TMCWW
Filing Date: 2025-07-08
Form Type: PRE 14A
Source: 0001104659-25-066460
Chunk: 21

Company: TMC the metals Co Inc.
Filing Date: 2025-07-08
Form: PRE 14A
Chunk 21
---
 that Mr. Barron was not present during any voting or deliberations on the new compensation package or the 2024 Barron Employment Agreement. Our shareholders approved the new compensation arrangements on an advisory basis at our 2024 annual meeting of shareholders held on May 30, 2024.

The principal economic terms of the 2024 Barron Employment Agreement are summarized below.

#### Cash Compensation
Annual Salary

Mr. Barron will receive an annual base salary of $750,000, which shall be reviewed annually by our board of directors

<div align='center'>13</div>

TABLE OF CONTENTS

Annual Bonus

Mr. Barron will also be eligible for an annual cash bonus, based on achievement of individual performance objectives and achievement of certain company financial results as established by our board of directors, with the target amount set at 75% of his base salary. See above for information on Mr. Barron’s STIP award for 2024 that was paid in RSUs.

Retirement Account Contributions

We will provide Mr. Barron with an additional amount equal to 10% of his base salary per year to be contributed to Mr. Barron’s retirement plan (the “Retirement Benefit”).

#### Equity Compensation
Signing RSUs

Mr. Barron received a one-time signing bonus award of performance-based restricted stock units for up to 20,000,000 of our common shares, based on the achievement of stock price goals (the “Signing RSUs”).

The Signing RSUs will vest upon our common shares achieving the following closing prices per share, based on the trailing 30-day average price (the “Closing Price”), on or prior to April 16, 2029, subject to Mr. Barron’s continued service with us on the applicable vesting date: one-third of the Signing RSUs vest on achievement of a Closing Price of $7.50; one-third of the Signing RSUs vest on achievement of a Closing Price of $10.00; and one-third of the Signing RSUs vest on achievement of a Closing Price of $12.50 (each subject to equitable adjustment for any stock splits, combinations, reclassifications, stock dividends and the like). Any Signing RSUs that are not vested on or prior to April 16, 2029 will be forfeited.

Mr. Barron shall not be permitted to sell any shares settled upon the vesting of the Signing RSUs until April 16, 2029, at which point all such vested shares shall be