Gregory Stone, chief ocean scientist at TMC the Metals Co Inc., according to a Form 4 filing with the Securities and Exchange Commission. (NASDAQ:TMC), recently sold a significant amount of shares of the company. Stone parted with 64,489 shares of common stock in multiple transactions, receiving more than $70,000.
The trades took place over multiple dates, with the first sale occurring on September 28, 2023, when 14,489 shares were sold at an average price of $1.0026. Subsequent sales occurred on December 4, 2023 and December 22, 2023, with 25,000 shares traded each day at an average price of $1.1624 and $1.0957, respectively. December trade prices ranged from $1.09 to $1.17, according to filing notes.
These sales significantly reduced Stone’s stake in TMC the Metals Co Inc., but still left him with a significant amount of stock. Following the December 22 transaction, Stone owned 320,876 shares of the company’s stock.
In addition to the sales, the Form 4 also shows that on March 20, 2024, Stone received 12,414 restricted stock units (RSUs) as part of the company’s short-term incentive plan. These RSUs vested immediately upon issuance at a price of $0.00, indicating that they were granted and not purchased.
The document also notes that Stone agreed to provide complete information about the purchase and sale transactions, including the number of shares sold at any particular price, upon request of the SEC staff, the issuer or a holder of the issuer’s securities.
Investors and market watchers often scrutinize Form 4 filings to get a sense of executives’ views on their company’s stock, as these transactions can indicate confidence or concern about the firm’s future prospects.
InvestingAbout Insights
Since TMC the Metals Co Inc. (NASDAQ:TMC) sees its chief ocean scientist Gregory Stone trim his stake in the company, investors may be interested in learning about TMC’s financial health and market performance. In accordance with InvestingPro According to the data, TMC has a market cap of around $499.38 million and the stock is trading at a high P/B ratio of 9.02. Despite the company’s significant negative return on assets of -133.0% for the trailing twelve months as of the first quarter of 2023, TMC posted strong returns over the past month with a total return of 21.64%.
In terms of stock performance, TMC has experienced volatile price movements as evidenced by its stock’s total return of 50.93% over the past six months. This volatility is consistent with InvestingPro Tip that TMC stock price movements are highly volatile. Additionally, the company’s shares are up 89.27% over the past year, which is in line with another InvestingPro tip highlighting strong returns over the same period. However, analysts remain cautious, as evidenced by another tip from InvestingPro, which says they don’t expect the company to be profitable this year.
For those looking for more in-depth analysis, InvestingPro offers additional information, including 9 more InvestingPro Tips for TMC, which can be found at https://www.investing.com/pro/TMC. To get access to these valuable tips and more, use the coupon code. PRONEWS24 to receive an additional 10% discount on annual or biennial Pro and Pro+ subscriptions.
This article was created with the help of AI and reviewed by an editor. For more information please see our Terms and Conditions.