TMC Insider: Director Carlyle’s $1.7 M Option Storm Buys Over 5 M Shares in One Day, Hinting at Bold Upside Play

Insider Buying Frenzy at TMC the Metals Co. Inc.

A flurry of option‑driven purchases by Greig Andrew Carlyle, the company’s director, has pushed his holdings past 5 million common shares in a single trading day. Carlyle’s trades, executed on January 8, 2026, involved three separate option exercises—at $0.52, $2.60 and $0.65 per share—yielding 11,578, 578,931 and 31,602 shares, respectively. The cumulative purchase cost of roughly $1.7 million is dwarfed by the current market price of $7.00, implying a deep‑in‑the‑money position that may convert into common equity when the share price surpasses the special‑share conversion thresholds.

What This Means for Investors

The sheer volume of Carlyle’s purchases signals a strong insider conviction. Unlike routine day‑to‑day trading, this batch of option exercises represents a coordinated commitment to the company’s long‑term upside. For investors, the key takeaway is a potential dilution‑mitigating effect: the special shares issued alongside each option exercise can convert to common stock when prices climb, thereby increasing the supply but also providing a built‑in “buy‑back” mechanism that could help smooth out share price volatility. Moreover, the timing—just after a modest 3.25% weekly rally and a 2.19% monthly gain—suggests Carlyle is capitalizing on a perceived undervaluation, given the company’s historic 554 % yearly upside and a negative P/E of –9.25 that signals undervaluation relative to peers.

Carlyle’s Trading Pattern

Carlyle’s insider activity over the past year has been predominantly “buy” oriented, with 14 transactions recorded in the current filing and additional option sales that simply free up cash. The pattern shows a preference for acquiring special shares across all classes (A through H) and exercising options at aggressive discounts to the current market price. The 2026 filings reveal a consistent strategy: accumulate a diversified mix of common and special shares while liquidating option rights when they expire or become stale. This approach reduces exposure to option risk while building a robust equity stake that can be leveraged for future strategic initiatives or shareholder value creation.

Strategic Outlook for TMC

TMC operates in a highly competitive materials sector, yet its market cap of $3.13 billion and a broad customer base position it well for continued growth. Carlyle’s large‑scale purchase may be a pre‑emptive move to secure voting power ahead of upcoming board discussions or capital allocation decisions. While no new guidance has been issued, the insider buying, coupled with the company’s recent 3.25% weekly gain, could catalyze a modest rally if market sentiment shifts positively. The buzz metric—101.61 %—indicates a slight uptick in social media attention, suggesting that institutional and retail investors alike are watching Carlyle’s actions closely.

Bottom Line

For shareholders and potential investors, Carlyle’s concentrated buying spree is a bullish sign that insiders see value in TMC’s assets and future prospects. The conversion mechanics of the special shares could provide a built‑in price support mechanism as the share price ascends. Coupled with the company’s robust fundamentals and a recent uptick in market activity, this insider transaction could foreshadow a gradual upside for TMC, albeit tempered by the material‑sector volatility and the company’s negative price‑earnings ratio. Investors should monitor subsequent filings for any accompanying strategic announcements that could unlock further upside.