Sign in Subscribe
United States. Securities and Exchange Commission

TMC The Metals Company Inc. Announces Resignation of Gina Stryker and Appointment of Andrew C. Greig to Board

Strategic Insights

— 2 min read

Gina Stryker, a member of the Audit Committee of TMC the Metals Company Inc.'s Board of Directors, has resigned effective September 27, 2022, after serving since the company's business combination transaction in September 2021. Her departure was not due to any disagreement with the company. Stryker was thanked by the company for her service and contributions to the Board and the company. In her place, Sheila Khama was appointed to serve on the Audit Committee of the Board.

Andrew C. Greig, a 65-year-old industry veteran with 35 years of experience in the mining and natural resource industry, was appointed to the Board on September 29, 2022. Greig has extensive experience in developing minerals, resource, power, refining, and chemical projects in 20 countries across six continents. He was granted 95,238 restricted stock units under the Company's 2021 Equity Incentive Plan, determined by dividing $100,000 by the closing price of the Company's Common Shares on the Nasdaq Stock Market on September 30, 2022. The restricted stock units will vest in equal annual installments over three years from the date of the grant. Greig also entered into the Company's standard form of indemnity agreement and owns 4,095,827 of the Company's Common Shares, along with various special shares and options to purchase additional shares.

Key Takeaways:

  • Gina Stryker resigned from TMC the Metals Company Inc.'s Board of Directors on September 27, 2022, after serving since the company's business combination transaction in September 2021.
  • Sheila Khama was appointed to serve on the Audit Committee of the Board in place of Stryker.
  • Andrew C. Greig, a 65-year-old industry veteran, was appointed to the Board on September 29, 2022, bringing 35 years of experience in the mining and natural resource industry.
  • Greig was granted 95,238 restricted stock units under the Company's 2021 Equity Incentive Plan, determined by dividing $100,000 by the closing price of the Company's Common Shares on the Nasdaq Stock Market on September 30, 2022.
  • The restricted stock units will vest in equal annual installments over three years from the date of the grant.
  • Greig owns 4,095,827 of the Company's Common Shares, along with various special shares and options to purchase additional shares.

Statistics:

  • 95,238 restricted stock units granted to Andrew C. Greig under the Company's 2021 Equity Incentive Plan.
  • $100,000 value of the restricted stock units granted to Greig, determined by dividing by the closing price of the Company's Common Shares on the Nasdaq Stock Market on September 30, 2022.
  • 3 years vesting period for the restricted stock units granted to Greig.
  • 4,095,827 number of Common Shares owned by Greig.
  • 89,365, 178,729, 178,729, 357,459, 357,459, 357,459, 446,824, and 446,824 number of Class A, B, C, D, E, F, G, and H Special Shares owned by Greig, respectively.
  • 716,916 number of options to purchase the Company's Common Shares owned by Greig.

Sources:

  • TMC The Metals Company Inc. (Form 8-K, October 3, 2022).
  • UNITED STATES SECURITIES AND EXCHANGE COMMISSION (Washington, D.C. 20549).

Read more