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In recent transactions involving TMC the metals Co Inc. (NASDAQ:TMC), Director May Brendan sold a total of 8,916 common shares. The stock, which has seen a remarkable 98% surge over the past six months according to InvestingPro data, currently trades at $1.91. The shares were sold on March 4 at an average price of $1.67 per share, amounting to a total value of $14,889. This transaction was executed to cover tax withholding obligations related to the vesting of restricted stock units and was not a discretionary sale. Following this transaction, Brendan holds 108,365 shares directly. The sales were part of an automatic "sell to cover" transaction. With TMC’s earnings scheduled for March 20 and the company maintaining a "FAIR" financial health score, investors seeking deeper insights into insider trading patterns and comprehensive analysis can access the full Pro Research Report on InvestingPro.
In other recent news, TMC the metals Co Inc. announced it has regained compliance with Nasdaq’s minimum bid price requirement. The company confirmed that its common shares maintained a closing bid price of $1.00 or higher for ten consecutive business days, following a previous notice from Nasdaq indicating non-compliance. This compliance ensures TMC avoids potential delisting procedures and maintains its listing on the Nasdaq Stock Market. The development is significant for TMC, as it helps attract institutional investors and maintain liquidity for shareholders. Earlier, TMC had received a non-compliance notice from Nasdaq after its shares fell below the $1.00 threshold for 34 consecutive trading days. The company was given a 180-day grace period to address this issue, which it successfully did. TMC has faced similar challenges in the past but has managed to regain compliance each time. The recent compliance was detailed in an 8-K filing with the U.S. Securities and Exchange Commission, providing investors with the latest regulatory status of the company’s securities.
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