TMC the metals company loses Nasdaq audit committee compliance after director resignation; cure period through 2022

TMC the metals Co Inc.

Scott E. Leonard resigned from Board effective Dec 24, 2021; Andrew Hall appointed Chair of Audit Committee.
Audit Committee now has fewer than 3 independent directors, violating Nasdaq Rule 5605(c)(2)(A).
Cure period expires at earlier of 2022 annual meeting or Dec 24, 2022; company will search for new director.
Company notified Nasdaq on Dec 29, 2021; expects formal letter confirming noncompliance and cure period.

item 3.01 item 5.02

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Departed

Scott E. Leonard

Director

TMC · TMC the metals Co Inc.

Effective: 2021-12-24
Filed: December 30, 2021, 6:59 PM ET

On December 24, 2021, Scott E. Leonard resigned, effective immediately, from the Board of Directors (the “Board”) of the Company to focus on other endeavors.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Scott E. Leonard resigned as Director at TMC the metals Co Inc..

Action: resigned
Role: Director

Exact text from the filing

On December 24, 2021, Scott E. Leonard resigned, effective immediately, from the Board of Directors (the “Board”) of the Company to focus on other endeavors.

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TMC the metals Co Inc. filing history →

Source: SEC EDGAR

accession 0001104659-21-154779

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