secwatch.observer — SEC 8-K summary
======================================

Issuer:     TMC the metals Co Inc. (TMC)
CIK:        0001798562
Form:       8-K
Filed at:   2025-06-18T23:59:59+00:00
Accession:  0001104659-25-060347
Event type: leadership
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1798562/000110465925060347/0001104659-25-060347-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1798562/000110465925060347/tm2518216d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-060347

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer