secwatch.observer — SEC 8-K summary
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Issuer:     TMC the metals Co Inc. (TMC)
CIK:        0001798562
Form:       8-K
Filed at:   2024-04-18T23:59:59+00:00
Accession:  0001104659-24-048642
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TMC enters new employment agreement with CEO Gerard Barron; receives 20M performance-based RSUs
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- Base salary set at $750,000; annual cash bonus target 75% of base salary.
- Signing grant of 20M performance-based RSUs; vests in tranches at $7.50, $10.00, $12.50 share prices by April 2029.
- CEO cannot sell vested shares until fifth anniversary of the agreement.
- Severance for non-Cause termination or Good Reason: 18 months base salary, pro-rata bonus, 18-month equity acceleration (excl. Signing RSUs).
- Change-of-control severance: 24 months base salary, 2x bonus, full acceleration of all equity (incl. Signing RSUs).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1798562/000110465924048642/0001104659-24-048642-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1798562/000110465924048642/tm2411911d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-048642

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