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[Form 4] TMC the metals company Inc. Insider Trading Activity

Filing Impact
(Moderate)
Filing Sentiment
(Negative)
Form Type
4
Rhea-AI Filing Summary

TMC (NASDAQ:TMC) filed a Form 4 disclosing that director Brendan May sold a total of 69,204 common shares on 06/25鈥�06/26 2025 at weighted-average prices of $7.803 and $7.383, respectively.

The transactions, executed under an automatic 鈥渟别濒濒-迟辞-肠辞惫别谤鈥� arrangement, raised roughly $0.52 million to satisfy tax-withholding obligations tied to the vesting of restricted stock units. Following the sales, May鈥檚 direct beneficial ownership fell by 鈮�26% to 197,586 shares.

TMC (NASDAQ:TMC) ha presentato un modulo Form 4 comunicando che il direttore Brendan May ha venduto un totale di 69.204 azioni ordinarie tra il 25 e il 26 giugno 2025, a prezzi medi ponderati rispettivamente di $7,803 e $7,383.

Le operazioni, eseguite tramite un accordo automatico di 鈥渟别濒濒-迟辞-肠辞惫别谤鈥�, hanno generato circa $0,52 milioni per coprire le imposte dovute in relazione al consolidamento delle unit脿 azionarie vincolate. Dopo le vendite, la partecipazione diretta di May si 猫 ridotta di circa 26%, scendendo a 197.586 azioni.

TMC (NASDAQ:TMC) present贸 un Formulario 4 revelando que el director Brendan May vendi贸 un total de 69,204 acciones ordinarias entre el 25 y 26 de junio de 2025 a precios promedio ponderados de $7.803 y $7.383, respectivamente.

Las transacciones, realizadas bajo un acuerdo autom谩tico de 鈥渟别濒濒-迟辞-肠辞惫别谤鈥�, generaron aproximadamente $0.52 millones para cubrir obligaciones fiscales relacionadas con la consolidaci贸n de unidades restringidas de acciones. Tras las ventas, la propiedad directa de May disminuy贸 en 鈮�26%, quedando en 197,586 acciones.

TMC (NASDAQ:TMC)電� 鞚挫偓 敫岆爩雼� 氅旍澊(Brendan May)臧� 2025雲� 6鞗� 25鞚茧秬韯� 26鞚缄箤歆� 齑� 69,204欤�鞚� 氤错喌欤茧ゼ 臧侁皝 臧�欷戫弶攴� 臧�瓴� $7.803 氚� $7.383鞐� 毵る弰頄堧嫟瓿� Form 4毳� 韱淀暣 瓿奠嫓頄堨姷雼堧嫟.

鞚� 瓯半灅霌れ潃 鞛愲彊 鈥渟别濒濒-迟辞-肠辞惫别谤鈥� 氚╈嫕鞙茧 鞁ろ枆霅橃柎, 鞝滍暅 欤检嫕 雼渼鞚� 甓岆Μ 頇曥爼鞐� 霐半ジ 靹戈笀 鞗愳矞歆曥垬 鞚橂毳� 於╇嫻頃橁赴 鞙勴暣 鞎� $0.52氚彪鞚� 臁半嫭頄堨姷雼堧嫟. 毵る弰 頉� 氅旍澊鞚� 歆侅爲 靻岇湢 歆�攵勳潃 鞎� 26% 臧愳唽顷橃棳 197,586欤�臧� 霅橃棃鞀惦媹雼�.

TMC (NASDAQ:TMC) a d茅pos茅 un formulaire 4 r茅v茅lant que le directeur Brendan May a vendu un total de 69 204 actions ordinaires les 25 et 26 juin 2025, aux prix moyens pond茅r茅s de 7,803 $ et 7,383 $, respectivement.

Ces transactions, r茅alis茅es dans le cadre d鈥檜n accord automatique de 芦 sell-to-cover 禄, ont permis de lever environ 0,52 million de dollars pour couvrir les obligations fiscales li茅es 脿 l鈥檃cquisition des unit茅s d鈥檃ctions restreintes. Apr猫s ces ventes, la participation directe de May a diminu茅 d鈥檈nviron 26 %, pour s鈥櫭﹖ablir 脿 197 586 actions.

TMC (NASDAQ:TMC) reichte ein Formular 4 ein, in dem offengelegt wurde, dass der Direktor Brendan May am 25. und 26. Juni 2025 insgesamt 69.204 Stammaktien zu gewichteten Durchschnittspreisen von $7,803 bzw. $7,383 verkauft hat.

Die Transaktionen, die im Rahmen einer automatischen 鈥瀞ell-to-cover鈥�-Vereinbarung durchgef眉hrt wurden, brachten etwa $0,52 Millionen ein, um die Steuerabzugsverpflichtungen im Zusammenhang mit der Vesting von Restricted Stock Units zu erf眉llen. Nach den Verk盲ufen sank Mays direkte wirtschaftliche Beteiligung um ca. 26% auf 197.586 Aktien.

Positive
  • None.
Negative
  • Director Brendan May sold 69,204 shares (鈮�26% of prior holdings) for $0.52 million, reducing his stake to 197,586 shares.

Insights

TL;DR: Large non-discretionary sale trims director stake by 26%; signal modestly negative.

The magnitude鈥�69 k shares, 鈮�$520 k鈥攅xceeds the 5% materiality trigger, so markets will notice. Although labeled 鈥渟ell-to-cover,鈥� the sale meaningfully reduces insider exposure, which can pressure sentiment in a capital-intensive pre-revenue miner like TMC. No indication of a Rule 10b5-1 plan was checked, adding limited transparency. Still, proceeds match tax liabilities from RSU vesting, tempering bearish interpretation. Near-term impact likely modest but tilts negative, especially given the company鈥檚 reliance on insider confidence for future raises.

TL;DR: Transaction appears routine, but optics of sizable insider sale are mixed.

The filing clarifies the sales funded statutory withholding, a common governance-aligned practice that avoids company cash outlay. Remaining stake (~198 k shares) retains alignment with shareholders. However, unchecked 10b5-1 designation leaves uncertainty on pre-arranged protection, and a 26% reduction may raise governance questions amid ongoing seabed-mining controversies. I view the market effect as largely neutral given the non-discretionary nature, yet investors should monitor future insider activity patterns.

TMC (NASDAQ:TMC) ha presentato un modulo Form 4 comunicando che il direttore Brendan May ha venduto un totale di 69.204 azioni ordinarie tra il 25 e il 26 giugno 2025, a prezzi medi ponderati rispettivamente di $7,803 e $7,383.

Le operazioni, eseguite tramite un accordo automatico di 鈥渟别濒濒-迟辞-肠辞惫别谤鈥�, hanno generato circa $0,52 milioni per coprire le imposte dovute in relazione al consolidamento delle unit脿 azionarie vincolate. Dopo le vendite, la partecipazione diretta di May si 猫 ridotta di circa 26%, scendendo a 197.586 azioni.

TMC (NASDAQ:TMC) present贸 un Formulario 4 revelando que el director Brendan May vendi贸 un total de 69,204 acciones ordinarias entre el 25 y 26 de junio de 2025 a precios promedio ponderados de $7.803 y $7.383, respectivamente.

Las transacciones, realizadas bajo un acuerdo autom谩tico de 鈥渟别濒濒-迟辞-肠辞惫别谤鈥�, generaron aproximadamente $0.52 millones para cubrir obligaciones fiscales relacionadas con la consolidaci贸n de unidades restringidas de acciones. Tras las ventas, la propiedad directa de May disminuy贸 en 鈮�26%, quedando en 197,586 acciones.

TMC (NASDAQ:TMC)電� 鞚挫偓 敫岆爩雼� 氅旍澊(Brendan May)臧� 2025雲� 6鞗� 25鞚茧秬韯� 26鞚缄箤歆� 齑� 69,204欤�鞚� 氤错喌欤茧ゼ 臧侁皝 臧�欷戫弶攴� 臧�瓴� $7.803 氚� $7.383鞐� 毵る弰頄堧嫟瓿� Form 4毳� 韱淀暣 瓿奠嫓頄堨姷雼堧嫟.

鞚� 瓯半灅霌れ潃 鞛愲彊 鈥渟别濒濒-迟辞-肠辞惫别谤鈥� 氚╈嫕鞙茧 鞁ろ枆霅橃柎, 鞝滍暅 欤检嫕 雼渼鞚� 甓岆Μ 頇曥爼鞐� 霐半ジ 靹戈笀 鞗愳矞歆曥垬 鞚橂毳� 於╇嫻頃橁赴 鞙勴暣 鞎� $0.52氚彪鞚� 臁半嫭頄堨姷雼堧嫟. 毵る弰 頉� 氅旍澊鞚� 歆侅爲 靻岇湢 歆�攵勳潃 鞎� 26% 臧愳唽顷橃棳 197,586欤�臧� 霅橃棃鞀惦媹雼�.

TMC (NASDAQ:TMC) a d茅pos茅 un formulaire 4 r茅v茅lant que le directeur Brendan May a vendu un total de 69 204 actions ordinaires les 25 et 26 juin 2025, aux prix moyens pond茅r茅s de 7,803 $ et 7,383 $, respectivement.

Ces transactions, r茅alis茅es dans le cadre d鈥檜n accord automatique de 芦 sell-to-cover 禄, ont permis de lever environ 0,52 million de dollars pour couvrir les obligations fiscales li茅es 脿 l鈥檃cquisition des unit茅s d鈥檃ctions restreintes. Apr猫s ces ventes, la participation directe de May a diminu茅 d鈥檈nviron 26 %, pour s鈥櫭﹖ablir 脿 197 586 actions.

TMC (NASDAQ:TMC) reichte ein Formular 4 ein, in dem offengelegt wurde, dass der Direktor Brendan May am 25. und 26. Juni 2025 insgesamt 69.204 Stammaktien zu gewichteten Durchschnittspreisen von $7,803 bzw. $7,383 verkauft hat.

Die Transaktionen, die im Rahmen einer automatischen 鈥瀞ell-to-cover鈥�-Vereinbarung durchgef眉hrt wurden, brachten etwa $0,52 Millionen ein, um die Steuerabzugsverpflichtungen im Zusammenhang mit der Vesting von Restricted Stock Units zu erf眉llen. Nach den Verk盲ufen sank Mays direkte wirtschaftliche Beteiligung um ca. 26% auf 197.586 Aktien.

SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
May Brendan
(Last) (First) (Middle)
C/O TMC THE METALS COMPANY INC.,
1111 WEST HASTINGS STREET, 15TH FLOOR
(Street)
VANCOUVER A1 V6E 2J3
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
TMC the metals Co Inc. [ TMC ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
06/25/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Shares 06/25/2025 S 25,000 D $7.803(1) 241,790 D
Common Shares 06/26/2025 S 44,204(2) D $7.383(3) 197,586 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. The price reflects the average selling price of the common shares sold. These common shares were sold in multiple transactions at prices ranging from $7.71 to $7.86 per common share. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer or a security holder of the Issuer, full information regarding the number of common shares sold at each price.
2. The sales reported were effected to cover tax withholding obligations in connection with the vesting of restricted stock units that were issued to the Reporting Person on June 25, 2025 pursuant to an automatic "sell to cover" transaction and does not represent a discretionary transaction by the Reporting Person.
3. The price reflects the average selling price of the common shares sold. These common shares were sold in multiple transactions at prices ranging from $7.35 to $7.44 per common share. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer or a security holder of the Issuer, full information regarding the number of common shares sold at each price.
/s/ Michelle Ancosky, Attorney-In-Fact 06/27/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source:

FAQ

How many TMC shares did Director Brendan May sell in June 2025?

He sold 69,204 common shares on 06/25鈥�06/26 2025.

What was the average sale price of TMC shares on 25 June 2025?

The weighted-average price was $7.803 per share, with individual trades ranging $7.71鈥�$7.86.

Why did Brendan May sell TMC shares?

The transactions were an automatic 鈥渟别濒濒-迟辞-肠辞惫别谤鈥� to satisfy tax-withholding obligations on vested RSUs, not a discretionary sale.

What is Brendan May鈥檚 remaining ownership in TMC after the sale?

He now directly owns 197,586 common shares.

Did the filing indicate a Rule 10b5-1 trading plan?

The Form 4 includes a checkbox but does not indicate that the sales were made under a Rule 10b5-1 plan.
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Tmc The Metals Company Inc

NASDAQ:TMC

TMC Rankings

#2391 Ranked by Market Cap
N/A Ranked by Dividends

TMC Latest News

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Aug 4, 2025
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Jun 16, 2025
TMC Announces Appointment of Michael Hess and Alex Spiro to its Board of Directors
Jun 16, 2025
TMC Announces Strategic Investment from Korea Zinc 鈥� a World-Leader in Non-Ferrous Metal Refining and pCAM Technology 鈥� to Advance Development of Deep-Seabed Critical Minerals in the U.S.
Jun 4, 2025
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TMC Latest SEC Filings

Aug 4, 2025
[8-K] TMC the metals company Inc. Reports Material Event
Aug 4, 2025
[8-K] TMC the metals company Inc. Reports Material Event
Jul 22, 2025
[Form 3] TMC the metals company Inc. Initial Statement of Beneficial Ownership
Jul 18, 2025
[DEF 14A] TMC the metals company Inc. Definitive Proxy Statement
Jul 8, 2025
[PRE 14A] TMC the metals company Inc. Preliminary Proxy Statement

TMC Stock Data

2.35B
225.44M
43.3%
9.31%
5.13%
Other Industrial Metals & Mining
Metal Mining
Canada
VANCOUVER