TMC the metals Co Inc. reported a significant insider ownership change tied to its commercial relationship with Allseas Group S.A. On July 1, 2026, Allseas acquired 7,305,567 TMC common shares at an indicated price of $4.66 per share, representing approximately $34.0 million in value. The shares were issued under a “Contract for Development Work and Commercial Production” between TMC and a wholly owned subsidiary of Allseas. That agreement was dated May 11, 2026 and was effective as of March 30, 2026. According to the filing note, the contract requires TMC to issue common shares to Allseas in accordance with the commercial arrangement between the parties. The Form 4 identifies the securities as directly owned by Allseas Group S.A. It also explains that Edward Heerema has sole authority over Allseas. Because of the ownership chain, Mr. Heerema, Allseas Investments S.A. — the majority parent of Allseas — Argentum Cedit Virtuti NV, the parent of Allseas Investments, and Stichting Administratiekantoor Aequa Lance Foundation, the parent of ACV, may be deemed to beneficially own the TMC shares held by Allseas. Each of those parties disclaims beneficial ownership except to the extent of any respective pecuniary interest. The filing also notes a separate ownership reference for securities owned by Argentum Cedit Virtuti NV. Mr. Heerema may be deemed to have voting and investment power over shares held by ACV, but he disclaims beneficial ownership of those securities except to the extent of his pecuniary interest. No vesting schedule, stock option exercise, or derivative security terms were reported in the provided text. The reported action is instead a direct issuance/acquisition of TMC common shares connected to a development and commercial production agreement, making it notable as both an insider ownership event and a corporate financing or compensation-related issuance to a key commercial partner. The Form 4 was signed on July 7, 2026 by Pieter Heerema as president and authorized signatory of Allseas Group S.A., and by Edward Heerema, including as president and authorized signatory of Allseas Investments S.A.