MILLS JOSEPH A 4

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.