<SEC-DOCUMENT>0000728083-25-000008.txt : 20250623
<SEC-HEADER>0000728083-25-000008.hdr.sgml : 20250623
<ACCEPTANCE-DATETIME>20250623162523
ACCESSION NUMBER:		0000728083-25-000008
CONFORMED SUBMISSION TYPE:	SCHEDULE 13D/A
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20250623
DATE AS OF CHANGE:		20250623

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TMC the metals Co Inc.
		CENTRAL INDEX KEY:			0001798562
		STANDARD INDUSTRIAL CLASSIFICATION:	METAL MINING [1000]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-91509
		FILM NUMBER:		251065241

	BUSINESS ADDRESS:	
		STREET 1:		1111 WEST HASTINGS STREET
		STREET 2:		15TH FLOOR
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6E 2J3
		BUSINESS PHONE:		888-458-3420

	MAIL ADDRESS:	
		STREET 1:		1111 WEST HASTINGS STREET
		STREET 2:		15TH FLOOR
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6E 2J3

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Sustainable Opportunities Acquisition Corp.
		DATE OF NAME CHANGE:	20200102

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIRST MANHATTAN CO. LLC.
		CENTRAL INDEX KEY:			0000728083
		ORGANIZATION NAME:           	
		EIN:				131957714
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		399 PARK AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2127563300

	MAIL ADDRESS:	
		STREET 1:		399 PARK AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST MANHATTAN CO
		DATE OF NAME CHANGE:	19960606
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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    <submissionType>SCHEDULE 13D/A</submissionType>
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    <coverPageHeader>
      <amendmentNo>1</amendmentNo>
      <securitiesClassTitle>TMC Common Shares without par value</securitiesClassTitle>
      <dateOfEvent>06/18/2025</dateOfEvent>
      <previouslyFiledFlag>false</previouslyFiledFlag>
      <issuerInfo>
        <issuerCIK>0001798562</issuerCIK>
        <issuerCUSIP>87261Y106</issuerCUSIP>
        <issuerName>TMC the metals Co Inc.</issuerName>
        <address>
          <com:street1>1111 WEST HASTINGS STREET</com:street1>
          <com:street2>1111 WEST HASTINGS STREET</com:street2>
          <com:city>VANCOUVER</com:city>
          <com:stateOrCountry>A1</com:stateOrCountry>
          <com:zipCode>V6E 2J3</com:zipCode>
        </address>
      </issuerInfo>
      <authorizedPersons>
        <notificationInfo>
          <personName>Jeremy Covino</personName>
          <personPhoneNum>(212) 756-3174</personPhoneNum>
          <personAddress>
            <com:street1>399 Park Avenue</com:street1>
            <com:city>New York</com:city>
            <com:stateOrCountry>NY</com:stateOrCountry>
            <com:zipCode>10022</com:zipCode>
          </personAddress>
        </notificationInfo>
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    </coverPageHeader>
    <reportingPersons>
      <reportingPersonInfo>
        <reportingPersonCIK>0000728083</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>FIRST MANHATTAN CO. LLC.</reportingPersonName>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>DE</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>17619789.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>17619789.00</sharedDispositivePower>
        <aggregateAmountOwned>17619789.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>4.9</percentOfClass>
        <typeOfReportingPerson>IA</typeOfReportingPerson>
        <typeOfReportingPerson>OO</typeOfReportingPerson>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonNoCIK>Y</reportingPersonNoCIK>
        <reportingPersonName>Zachary A. Wydra</reportingPersonName>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>X1</citizenshipOrOrganization>
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        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>17619789.00</sharedDispositivePower>
        <aggregateAmountOwned>17619789.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>4.9</percentOfClass>
        <typeOfReportingPerson>IN</typeOfReportingPerson>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonNoCIK>Y</reportingPersonNoCIK>
        <reportingPersonName>FMC Group Holdings LP</reportingPersonName>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>DE</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>17619789.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>17619789.00</sharedDispositivePower>
        <aggregateAmountOwned>17619789.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>4.9</percentOfClass>
        <typeOfReportingPerson>PN</typeOfReportingPerson>
        <typeOfReportingPerson>HC</typeOfReportingPerson>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonNoCIK>Y</reportingPersonNoCIK>
        <reportingPersonName>First Manhattan Management LLC</reportingPersonName>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>DE</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>17619789.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>17619789.00</sharedDispositivePower>
        <aggregateAmountOwned>17619789.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>4.9</percentOfClass>
        <typeOfReportingPerson>OO</typeOfReportingPerson>
        <typeOfReportingPerson>HC</typeOfReportingPerson>
      </reportingPersonInfo>
    </reportingPersons>
    <items1To7>
      <item1>
        <securityTitle>TMC Common Shares without par value</securityTitle>
        <issuerName>TMC the metals Co Inc.</issuerName>
        <issuerPrincipalAddress>
          <com:street1>1111 WEST HASTINGS STREET</com:street1>
          <com:street2>1111 WEST HASTINGS STREET</com:street2>
          <com:city>VANCOUVER</com:city>
          <com:stateOrCountry>A1</com:stateOrCountry>
          <com:zipCode>V6E 2J3</com:zipCode>
        </issuerPrincipalAddress>
      </item1>
      <item2>
        <filingPersonName>This Statement is filed by: (i) First Manhattan Co. LLC, an SEC-registered investment adviser; (ii) Zachary A. Wydra, Chief Executive Officer of First Manhattan Co. LLC and FMC Group Holdings, L.P. and the Portfolio Manager of the Accounts (as defined below); (iii) First Manhattan Management LLC, the general partner of FMC Group Holdings, L.P.; and (iv) FMC Group Holdings, L.P., the parent holding company of First Manhattan Co. LLC (the "Reporting Persons").</filingPersonName>
        <principalBusinessAddress>The business address of each of the Reporting Persons is 399 Park Avenue, New York, New York 10022.</principalBusinessAddress>
        <principalJob>The principal business of each of the Reporting Persons is providing investment advisory, wealth management, and related services.</principalJob>
        <hasBeenConvicted>Not applicable.</hasBeenConvicted>
        <convictionDescription>Not applicable.</convictionDescription>
        <citizenship>Mr. Wydra is a U.S. citizen. Each of the other Reporting Persons is an entity formed under the laws of the State of Delaware.</citizenship>
      </item2>
      <item3>
        <fundsSource>The Common Stock referred to in Item 5 is held in investment accounts, including accounts of advisory clients, partners, and employees of First Manhattan Co. LLC, over which First Manhattan Co. LLC and Mr. Wydra, as Portfolio Manager, have investment discretion (the "Accounts"). Accordingly, the Reporting Persons may be deemed to have voting and dispositive power over the Common Stock held in the Accounts. 4,137,286 shares of such Common Stock are owned by Mr. Wydra personally. The aggregate purchase price of the Common Stock referred to in Item 5 is $20,642,346 (the "Amount"), which were purchased using available funds in the Accounts or by a cashless stock option exercise.</fundsSource>
      </item3>
      <item4>
        <transactionPurpose>The Reporting Persons initially acquired the Common Stock because they believed that the Common Stock represented an attractive investment opportunity.  On May 12, 2025, Mr. Wydra, the CEO of FMC Group Holdings L.P. and First Manhattan Co. LLC and the Portfolio Manager of the Accounts, became a Board Observer of the Board of Directors of the Issuer. As a result of this Board Observer position, Mr. Wydra expects to participate in discussions with management of the Issuer, the Board of Directors of the Issuer, other shareholders of the Issuer, and other relevant parties with respect to the Issuer's business, operations, strategy, and related matters.

Depending upon, among other things, the outcome of the discussions referenced above, current and future trading prices for the shares of the Common Stock, the financial condition, results of operations and prospects of the Issuer and its businesses, other investment opportunities available to the Reporting Persons and the Accounts, conditions in the securities markets, general economic conditions, and other factors that the Reporting Persons deems relevant, the Reporting Persons may from time to time acquire additional shares of Common Stock and warrants or sell shares of Common Stock in the open market, in privately negotiated transactions or otherwise, and may take such other actions with respect to their investment in the Issuer as they may deem appropriate, including, without limitation, changing their intention with respect any of the matters enumerated in clauses (a) through (j) of Item 4 of Schedule 13D.</transactionPurpose>
      </item4>
      <item5>
        <percentageOfClassSecurities>The aggregate number of shares of Common Stock to which this Statement relates is 17,619,789. Such shares of Common Stock constitute approximately 4.86% of the Issuer's currently outstanding Common Stock, based upon the 362,186,002 shares of Common Stock outstanding as of May 13, 2025 as reported in the Issuer's Annual Report on Form 10-Q for the period ended March 31, 2025 filed with the Securities and Exchange Commission.</percentageOfClassSecurities>
        <numberOfShares>The Reporting Persons may be deemed to have shared voting power and shared dispositive power over the shares of Common Stock to which this Statement relates.</numberOfShares>
        <transactionDesc>Exhibit 2 hereto (which is incorporated by reference in this Item 5 as if restated in full herein) sets forth all transactions with respect to the Shares effected during the past 60 days by the Reporting Persons.</transactionDesc>
        <listOfShareholders>The ultimate owners of the Accounts have the right to participate in the receipt of dividends from, or proceeds from the sale of, the shares of Common Stock to which this Statement relates in accordance with their respective interests in the Accounts.</listOfShareholders>
        <date5PercentOwnership>Not applicable.</date5PercentOwnership>
      </item5>
      <item6>
        <contractDescription>A Board Observer Agreement, dated May 12, 2025 between the Issuer and Mr. Wydra, details the terms of Mr. Wydra's Board Observer position ("Board Observer Agreement"). Certain agreements and undertakings by the Reporting Persons in connection with the purchase of the shares of Common Stock and warrants to which this Statement relates are set forth in Securities Purchase Agreements, dated August 14, 2023, November 15, 2024 and first amended November 26, 2024, with the Issuer.</contractDescription>
      </item6>
      <item7>
        <filedExhibits>Exhibit 1: Agreement Joint Filing of Schedule 13D
Exhibit 2: Transactions
https://www.sec.gov/Archives/edgar/data/728083/000072808325000006/jointfilingagreement.htm
https://www.sec.gov/Archives/edgar/data/728083/000072808325000006/boardobserveragreement.pdf
https://www.sec.gov/Archives/edgar/data/1798562/000110465923091027/tm2323509d2_ex10-1.htm
https://www.sec.gov/Archives/edgar/data/1798562/000110465924119790/tm2427511d3_ex10-1.htm
https://www.sec.gov/Archives/edgar/data/1798562/000110465924119790/tm2427511d3_ex10-1.htm</filedExhibits>
      </item7>
    </items1To7>
    <signatureInfo>
      <signaturePerson>
        <signatureReportingPerson>FIRST MANHATTAN CO. LLC.</signatureReportingPerson>
        <signatureDetails>
          <signature>Jeremy Covino</signature>
          <title>Chief Compliance Officer</title>
          <date>06/23/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Zachary A. Wydra</signatureReportingPerson>
        <signatureDetails>
          <signature>Zachary A. Wydra</signature>
          <title>Authorized Signatory</title>
          <date>06/23/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>FMC Group Holdings LP</signatureReportingPerson>
        <signatureDetails>
          <signature>Andrew Aspen</signature>
          <title>Authorized Signatory</title>
          <date>06/23/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>First Manhattan Management LLC</signatureReportingPerson>
        <signatureDetails>
          <signature>Andrew Aspen</signature>
          <title>Authorized Signatory</title>
          <date>06/23/2025</date>
        </signatureDetails>
      </signaturePerson>
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<DOCUMENT>
<TYPE>EX-1
<SEQUENCE>2
<FILENAME>exhibit1jointfilingagreement.htm
<TEXT>
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<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>Exhibit  1: Agreement Joint Filing of
Schedule 13D</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The undersigned hereby agree to jointly prepare
and file with regulatory authorities this Schedule 13D and any future amendments thereto reporting each of the undersigned&rsquo; ownership
of securities of TMC the metals Co Inc. and hereby affirm this Schedule 13D is being filed on behalf of each of the undersigned pursuant
to and in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934. The undersigned acknowledge that
each is responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning the
other, except to the extent that it or he knows or has reason to believe that such information is inaccurate.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">___________________________________</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">FIRST MANHATTAN CO. LLC.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Signature: Jeremy Covino</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Name/Title: Chief Compliance Officer</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Date: 06/23/2025</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">____________________________________</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">FMC Group Holdings LP</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Signature: Andrew Aspen</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Name/Title: Authorized Signatory</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Date: 06/23/2025</P>

<P STYLE="font: 15pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">___________________________</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">First Manhattan Management LLC</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Signature: Andrew Aspen</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Name/Title: Authorized Signatory</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Date: 06/23/2025</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">______________________________________</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">ZACHARY A. WYDRA</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Signature: Zachary A. Wydra</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Date: 06/23/2025</P>

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<DOCUMENT>
<TYPE>EX-2
<SEQUENCE>3
<FILENAME>exhibit2transactions.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify"><B>Exhibit 2</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">The following table sets forth all transactions
with respect to the shares effected during the past 60 days by any of the Reporting Persons. Except as otherwise noted, all such transactions
in the table were effected in the open market, and the table includes commissions paid in per share prices.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; border: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Date of Transaction</TD>
    <TD STYLE="width: 33%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Shares Purchased (Sold)</TD>
    <TD STYLE="width: 33%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Price Per Share ($)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">05/19/2025</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(500,000)</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">4.46</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">05/21/2025</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(279,425)</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">4.50</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">05/22/2025</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(538,800)</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">4.35</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">05/23/2025</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(1,313,750)</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">4.44</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">05/27/2025</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(350,000)</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">4.80</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">06/02/2025</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(55,500)</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">4.49</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">06/03/2025</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(26,800)</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">4.51</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">06/09/2025</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(96,700)</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">4.10</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">06/10/2025</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(71,000)</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">4.10</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">06/18/2025</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(500,000)</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">7.12</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">06/18/2025</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">*(1,393,929)</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">6.70</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">*Shares were not sold in the open market but
were retained by the Company through a cashless stock option exercise.</P>

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