Spencer Davis, Chief Legal Officer of Lifezone Metals Ltd, filed a Form 4 on September 11, 2026, reporting the conversion of 33,000 restricted stock units into ordinary shares and the subsequent sale of 16,435 shares between September 7 and September 10, 2026.

Key Highlights

  • RSU conversion: 33,000 Lifezone Metals Restricted Stock Units were converted (transaction code C) into 33,000 ordinary shares on September 7, 2026, at a conversion price of $0.0001 per share.
  • Shares sold: 16,435 ordinary shares were disposed of (transaction code F) at a weighted average price of $4.04, with individual sale prices ranging from $3.81 to $4.35 inclusive.
  • Sale dates: The disposal transactions spanned trading dates from September 7, 2026 through September 10, 2026, with a deemed execution date of September 10, 2026.
  • Remaining ownership: Following the reported transactions, Davis directly holds 34,950 ordinary shares and 33,000 RSUs.
  • RSU vesting schedule: The RSUs vest equally in three installments on April 7, 2026, September 7, 2026, and April 7, 2027, according to the filing.

Lifezone Metals CLO RSU Conversion and Share Disposal Details

According to the Form 4 filed with the SEC, Spencer Davis, serving as Chief Legal Officer of Lifezone Metals Ltd (NYSE:LZM), reported two categories of transactions involving the company's ordinary shares. On September 7, 2026, Davis converted 33,000 Restricted Stock Units into 33,000 ordinary shares at a price of $0.0001 per share. The filing notes that each RSU represents a contingent right to receive one ordinary share of Lifezone Metals Limited.

Following that conversion, the filing reports that 16,435 ordinary shares were disposed of under transaction code F across multiple transactions. The filing states the reported price of $4.04 is a weighted average, with individual transactions executed at prices ranging from $3.81 to $4.35 inclusive. The filing further notes that Davis "undertakes to provide the staff of the Securities and Exchange Commission (the 'SEC'), upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote."

After both transactions, Davis directly beneficially owns 34,950 ordinary shares. Additionally, 33,000 RSUs remain outstanding in direct ownership. The RSU award vests in three equal installments on April 7, 2026, September 7, 2026, and April 7, 2027, as disclosed in the filing. Davis's address of record is listed as 2nd Floor, St George's Court, Upper Church Street, Douglas, Isle of Man.

What Was Disclosed

The filing discloses the conversion of 33,000 RSUs into ordinary shares and the sale of 16,435 shares by Lifezone Metals' Chief Legal Officer, leaving him with direct beneficial ownership of 34,950 ordinary shares and 33,000 RSUs as of the reported transaction dates.