MILLS JOSEPH A 4
4 · INTERNATIONAL BATTERY METALS LTD. · Filed Jul 1, 2026
Research Summary
AI-generated summary of this filing
International Battery Metals (IBATF) CEO Joseph A. Mills Exercises RSUs
What Happened
- Joseph A. Mills, CEO of International Battery Metals Ltd. (IBATF), recorded the exercise/conversion of derivative awards on July 1, 2026. The Form 4 lists an acquired derivative of 1,000,000 shares at $0.00 and a simultaneous disposed derivative of 1,000,000 shares at $0.00 (transaction code M). No cash consideration is shown on the filing.
Key Details
- Transaction date: 2026-07-01; price shown: $0.00 (no cash paid or received).
- Reported as derivative exercise/conversion (code M).
- Shares owned after the transaction: Not disclosed in the supplied excerpt of the filing.
- Relevant footnotes:
- F1/F2: These reflect Restricted Share Units (RSUs) granted April 7, 2025 that vest in full on July 1, 2026 (each RSU converts to one common share).
- Other footnotes in the filing describe additional RSU/PBRSU grants and vesting conditions (see F3–F8) but those do not vest on this date.
- Filing timing: Reported with a Form 4 dated the same day as the transaction (2026-07-01) per the filing record provided.
Context
- The entries appear to reflect RSU vesting and conversion into common shares (derivative-to-equity settlement). The $0.00 price indicates no cash purchase — common for vested RSUs converting to shares. The simultaneous "disposed" derivative entry is part of the mechanics recorded on Form 4 when RSUs/PBRSUs convert or are settled; the filing does not by itself indicate an open-market sale of shares for cash.
- Retail investors should view this as an insider award vesting/settlement event rather than a cash purchase or outright sell order; it does not directly signal a buy/sell market action by the CEO.
Insider Transaction Report
Form 4
MILLS JOSEPH A
DirectorChief Executive Officer
Transactions
- Exercise/Conversion
Common Shares, no par value
2026-07-01+1,000,000→ 1,000,000 total - Exercise/Conversion
Resricted Share Units
[F1][F2]2026-07-01−1,000,000→ 0 total→ Common Stock, no par value (1,000,000 underlying)
Holdings
- 2,087,683
Resricted Share Units
[F1][F3]→ Common Stock, no par value (2,087,683 underlying) - 2,000,000
Performance Based Restricted Units
[F4][F5]→ Common Stock, no par value (2,000,000 underlying) - 500,000
Performance Based Restricted Share Units
[F4][F6]→ Common Stock, no par value (500,000 underlying) - 4,304,525
Performance Based Resricted Share Units
[F4][F7]→ Common Stock, no par value (4,304,525 underlying) - 2,152,262
Performance Based Resricted Share Units
[F4][F8]→ Common Stock, no par value (2,152,262 underlying)
Footnotes (8)
- [F1]The Restricted Share Units ("RSUs") each represent a contingent right to receive one common share of International Battery Metals Ltd. (the "Issuer").
- [F2]Represents Restricted Share Units ("RSUs") granted on April 7, 2025 under International Battery Metals Ltd.'s (the "Issuer") Amended and Restated Restricted Share Unit Plan (as amended, the "Plan") and vests in full on July 1, 2026.
- [F3]Represents Restricted Share Units ("RSUs") granted on February 4, 2026, which will vest in full on February 4, 2027.
- [F4]The Performance Based Restricted Share Unit ("PBRSU") each represent a contingent right to receive one common share of International Battery Metals Ltd. (the "Issuer").
- [F5]Represents Performance Based Restricted Share Units ("PBRSUs") granted on April 7, 2025, under the Plan, which shall vest upon completion of and deployment of two additional Direct Lithium Extraction Plants, subject to the terms of the associated Restricted Share Unit Agreement.
- [F6]Represents Performance Based Restricted Share Units granted on February 4, 2026, which will vest in full 60 days following the Issuer's successful listing on a major stock exchange.
- [F7]Represents Performance Based Restricted Share Units granted on February 4, 2026, of which, 50% shall vest upon the Issuer achieving an annualized EBITDA of $25 million and the remaining 50% shall vest upon the Issuer achieving an annualized EBITDA of $50 million.
- [F8]Represents Performance Based Restricted Share Units granted on February 4, 2026, of which, 50% shall vest upon the Issuer achieving a $750 million market capitalization over a 60 day volume weighted average trading price and the remaining 50% shall vest upon the Issuer achieving $1.5 billion market capitalization over a 60 day volume weighted average trading price.
Signature
/s/ Norma Garcia, Attorney-in-Fact|2026-07-01