Shesky Craig 4

What Happened

• Craig Shesky, Chief Financial Officer of TMC the metals Co Inc. (TMC), reported the conversion/exercise of derivative awards (code M) on March 20, 2026. Three RSU grants converted to a total of 562,539 common shares (187,662 + 166,502 + 208,375). Each conversion is reported at $0.00 per share. The filing also reports an identical number of shares as disposed (derivative disposition), consistent with the RSUs being settled as described in the footnotes.

Key Details

• Transaction date: March 20, 2026; Form 4 filed March 24, 2026 (timely).
• Reported as exercise/conversion of derivative (transaction code M); acquisition entries at $0.00 per share and matching disposition entries at $0.00.
• Total acquired: 562,539 shares. Total disposed: 562,539 shares. Net change to reported holdings from these entries: 0 shares.
• Shares owned after the transaction: not provided in the supplied data.
• Footnotes: three separate RSU grants converted 1:1 to common shares:
  • 2023 grant: fully vested and settled as of the date hereof (F1, F5).
  • 2024 grant: 2/3 vested/settled as of date; remaining portion vests in 2027 (F2, F6).
  • 2025 grant: 1/3 vested/settled as of date; remaining portions vest in 2027 and 2028 (F3, F7).
  • Each RSU equals one common share on vesting (F4).
• No 10b5-1 plan, late filing, or other special filing flags noted in the supplied information.

Context

• This filing reflects routine equity-compensation vesting and settlement rather than an open-market purchase or voluntary sale. The matching acquisition and disposition entries indicate RSUs converted to shares and were settled/withheld per the plan (e.g., to satisfy tax withholding or plan settlement), resulting in no net increase in reported shares from these entries. For retail investors, such conversions are compensation events and do not necessarily signal buying or selling sentiment by the insider.