Adams Michael David 4

What Happened Michael David Adams, Chief Technology Officer of Lifezone Metals Ltd (LZM), had 68,000 restricted stock units (RSUs) convert into 68,000 ordinary shares on April 7, 2026. The filing records the conversion as an acquisition of 68,000 shares at $0.00 per share (total reported value $7) and a simultaneous disposition of the derivative RSU instrument (also showing $0.00 and $7). This was a conversion/vesting event (not an open‑market buy or sale).

Key Details

• Transaction date: April 7, 2026. Report filed April 15, 2026 (appears to be filed after the typical two-business-day Form 4 window).
• Reported amounts: 68,000 shares acquired via conversion of a derivative security at $0.00 per share; total nominal value shown $7. A corresponding 68,000‑unit derivative was marked as disposed.
• Shares owned after the transaction: not specified in the provided report.
• Footnotes: F1 — Each RSU represents a contingent right to one ordinary share. F2 — RSUs vest equally in three installments on Apr 7, 2026; Sep 7, 2026; and Apr 7, 2027.
• Transaction type code: conversion of derivative security (C). This is effectively an RSU vesting/conversion, not a purchase or market sale.

Context

• This was a vesting/conversion of RSUs (award becoming shares). Such events are routine compensation-related transactions and do not, by themselves, indicate an open‑market purchase or change in trading sentiment.
• Because the filing date is April 15 for an April 7 transaction, the Form 4 appears late relative to the usual two-business-day reporting requirement; late filings can delay public visibility into insider activity.