---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-21-154779"
form_type: "8-K"
ticker: "TMC"
cik: "0001798562"
company_name: "TMC the metals Co Inc."
filed_at: "2021-12-30T23:59:59+00:00"
generated_at: "2026-06-27T21:43:26.137188+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-21-154779
- form_type: 8-K
- ticker: TMC
- cik: 0001798562
- company_name: TMC the metals Co Inc.
- filed_at: 2021-12-30T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 3.01, 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1798562/000110465921154779/0001104659-21-154779-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1798562/000110465921154779/tm2136528d2_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-21-154779
- JSON: https://secwatch.observer/filing/0001104659-21-154779.json
- Plain text: https://secwatch.observer/filing/0001104659-21-154779.txt

## Key facts
- Executive change
  Scott E. Leonard resigned as Director at TMC the metals Co Inc..
  - Action: resigned
  - Role: Director
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1798562/000110465921154779/0001104659-21-154779-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.