Anthony O’Sullivan
About Anthony O’Sullivan
Anthony O’Sullivan is Chief Development Officer (CDO) of TMC the metals company. He has served as CDO since the SPAC business combination (September 2021) and previously as DeepGreen’s CDO since July 25, 2017; age 58; education includes an M.Sc. in Mineral Exploration and a B.Sc. (Hons) in Geology from the University of Western Australia . He brings 30+ years of mining experience across terrestrial and marine environments, is co‑inventor on five subsea mining patents, and led permitting, project development, and commercial agreements in earlier roles (see Past Roles) . The company’s filings do not disclose TSR, revenue growth or EBITDA growth specifically tied to O’Sullivan’s tenure.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| DeepGreen Metals / TMC | Chief Development Officer | Since Jul 2017 (DeepGreen); continued post‑Sep 2021 | Led exploration, engineering/design, project development, permitting, and marketing; continuity into TMC post-business combination . |
| SensOre Ltd (ASX) | Non‑Executive Director | Since Jan 2020 | Oversight at mineral targeting firm leveraging data/ML . |
| Sasak Minerals Pty Ltd | Chief Executive Officer | 2017–2019 | Led machine learning deployment in mineral exploration . |
| International Resources | Principal / Owner | Since Feb 2017 | Value creation via discovery/development of mineral resources . |
| Quantum Pacific Exploration | Vice President Exploration | 2014–2017 | Strategy, exploration oversight, asset evaluation; team building . |
| Nautilus Minerals | Chief Operating Officer | 2005–2012 | Drove NI 43‑101 resources, environmental permit, mining lease (PNG), ore sales agreement (Tongling), project design and construction commencement . |
| BHP Billiton | Global Exploration Leader Team (iron ore, bauxite, coal, non‑porphyry base metals) | Not disclosed | Portfolio responsibility across major commodities . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| SensOre Ltd (ASX: S3N) | Non‑Executive Director | Since Jan 2020 | Mineral targeting/data science company . |
Fixed Compensation
| Element | Terms | Source |
|---|---|---|
| Base Salary | A$670,985 (US$475,000) annually; reviewed annually by CEO | |
| Employment Term | Indefinite term (amended & restated May 8, 2022) | |
| Benefits | Eligible to participate in company benefit plans | |
| Location/Scope | Employed by The Metals Company Australia Pty Ltd |
Performance Compensation
| Program | Metric | Weighting | Target | Actual | Payout Form | Vesting | Source |
|---|---|---|---|---|---|---|---|
| STIP (annual bonus) | Corporate & individual objectives | Not disclosed | 50% of base salary | Not disclosed | At board discretion; company elected to pay STIP in immediately‑vested RSUs for 2024/2023 for NEOs to conserve cash | Immediate vest when paid in RSUs | |
| LTIP (equity) | Time‑based RSUs; may include market/performance goals | Not disclosed | Not disclosed | Not disclosed | RSUs | For 2024/2023/2022, RSUs vest one‑third per year over three years (company program) |
Note: O’Sullivan is eligible under TMC’s STIP/LTIP frameworks; specific annual grants/outcomes for him are not disclosed in the proxies cited .
Equity Ownership & Alignment
| Item | Details | Source |
|---|---|---|
| Stock Ownership Guidelines | Remaining officers (includes CDO) must hold 0.5× base salary in common shares within 5 years; CEO 3×; CFO 1× | |
| Compliance Status | As of Dec 31, 2024, all non‑employee directors and executive officers covered met their thresholds or were within the 5‑year grace period | |
| Hedging & Pledging | Insider Trading Policy prohibits speculative/short‑term trades, hedging (derivatives, collars, exchange funds), and borrowing/arrangements involving pledge of securities | |
| Trading Controls | Quarterly/other blackouts; pre‑clearance required for covered persons; open‑market purchases must be held ≥6 months |
Employment Terms
| Provision | Terms | Source |
|---|---|---|
| Non‑Compete & Non‑Solicit | During employment and 6 months thereafter: no competition in Australia; no solicitation of customers or employees | |
| Base Severance (no Cause / Good Reason) | Pro‑rata bonus; board‑approved extension of expiry up to 12 months for milestone‑vested options; benefits premiums continued for minimum period required by law | |
| CEO‑Linked Separation | If CEO resigns/terminated/replaced and O’Sullivan departs without Cause / for Good Reason: 9 months base salary in lieu of notice + 1 month per completed year of service (max 18 months); immediate vesting of RSUs that would vest in next 12 months; option expiry extension; pro‑rata bonus; continued benefits premiums (legal minimums) | |
| Change of Control (“Fundamental Change”) | If terminated without Cause within 24 months post‑Fundamental Change: 12 months base salary; 1.5× prior year’s Employment Bonus; immediate vesting of all unvested equity; non‑compete extended to 12 months |
Investment Implications
- Pay‑for‑performance structure exists but with limited disclosed individual metrics; STIP target at 50% of salary and LTIP RSUs with multi‑year vesting indicate alignment with longer‑term objectives, though exact KPI weightings for O’Sullivan are not provided .
- Strong retention protections: CEO‑linked and change‑of‑control severance feature accelerated vesting and meaningful cash components (up to 18 months salary in CEO‑linked scenario; 12 months salary + 1.5× bonus under CoC), reducing departure risk during strategic transitions .
- Alignment safeguards: ownership guidelines and prohibitions on hedging/pledging mitigate misalignment and insider selling pressure; trading is subject to blackouts and pre‑clearance, with open‑market minimum holding periods .
- Dilution/program design context: company‑wide LTIP uses RSUs with three‑year schedules (and paid STIP as RSUs for cash conservation in 2024/2023), which supports retention but contributes to share issuance over time; specific grant sizes for O’Sullivan are not disclosed in the cited filings .