TMC appoints Michael Hess and Alex Spiro to board; waives cashless exercise limit on Class B warrants

TMC the metals Co Inc.

Board size increased to 10; Michael Hess (CIO of Hess Capital) and Alex Spiro (litigator/investor) appointed as directors effective June 16, 2025.
Hess receives compensation via prior consulting agreement, not under Director Compensation Policy; he is not independent and will not serve on committees.
Spiro granted 1,750,000 RSUs (subject to shareholder approval) under 4-year services agreement; also not independent.
Company waived cashless exercise limitation on Class B warrants (8.65M outstanding), allowing immediate cashless exercise; expects to reduce total shares issued.
Appointments support TMC's U.S. seabed mining strategy under Executive Order and permit application with NOAA.

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Appointed

Michael B. Hess

director

TMC · TMC the metals Co Inc.

Effective: 2025-06-16
Filed: Jun 18, 2025 23:59 UTC

appointed Michael B. Hess and Alex Spiro as directors, effective June 16, 2025

Appointed

Alex Spiro

director

TMC · TMC the metals Co Inc.

Effective: 2025-06-16
Filed: Jun 18, 2025 23:59 UTC

appointed Michael B. Hess and Alex Spiro as directors, effective June 16, 2025

Source: SEC EDGAR

accession 0001104659-25-060347

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