Ferroglobe (GSM) COO details performance share units in Form 3

Rhea-AI Filing Summary

Ferroglobe PLC Chief Operating Officer Benjamin Crespy has filed an initial ownership report showing his equity interests in the company. The filing lists performance share units that can convert into up to 73,155, 67,304 and 62,924 ordinary shares, plus 345 ordinary shares held directly.

The performance share units represent the maximum number of shares that may vest and are subject to performance periods that have not yet ended. These awards carry a zero exercise price and have expiration dates between 2033 and 2035, highlighting a long-term, performance-based compensation structure rather than immediate market transactions.

Insights

Equity compensation analyst

Form 3 shows existing performance-based awards, not new trading activity.

The report from Ferroglobe’s COO, Benjamin Crespy, lists existing performance share units tied to ordinary shares, along with a small direct holding of ordinary shares. No open-market purchases or sales are reported, so there is no clear trading signal.

The footnote clarifies that the share counts for performance units are maximums that may vest only if future performance conditions are met. With expiration dates stretching to 2033–2035, these awards emphasize long-term alignment with company performance rather than short-term stock movements.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Crespy Benjamin Noel, Camille

(Last) (First) (Middle)

THE SCALPEL, 18TH FLOOR, 52 LIME STREET,

(Street)

LONDON EC3M 7AF

(City) (State) (Zip)

UNITED KINGDOM

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Ferroglobe PLC [ GSM ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Operating Officer

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Ordinary shares	345	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Performance share units	05/30/2026	05/30/2033	Ordinary shares	67,304(1)	$0	D
Performance share units	06/19/2027	06/19/2034	Ordinary shares	62,924(1)	$0	D
Performance share units	09/10/2028	09/10/2035	Ordinary shares	73,155(1)	$0	D

Explanation of Responses:

1. Refers to the maximum number of shares to potentially vest for performance share units subject to performance periods that have not yet ended.

Remarks:

Exhibit 24 - Power of Attorney

	/s/ Marta Bragado, attorney-in-fact for Benjamin Crespy	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

FAQ

What does Ferroglobe (GSM) COO Benjamin Crespy report in this Form 3?

He reports existing equity holdings, including performance share units linked to up to 73,155, 67,304 and 62,924 ordinary shares, plus 345 ordinary shares held directly. These positions reflect compensation arrangements, not new market trades or open-market transactions.

Are there any stock purchases or sales in Benjamin Crespy’s Ferroglobe (GSM) Form 3?

No, the Form 3 does not show any stock purchases or sales. It only discloses Crespy’s existing holdings, mainly performance share units and a small number of ordinary shares, as part of his initial beneficial ownership report as an officer.

What are the performance share units reported by Ferroglobe (GSM) COO?

They are awards that may convert into ordinary shares if performance goals are met. The filing lists potential maximums of 73,155, 67,304 and 62,924 underlying ordinary shares, each with a zero exercise price and long-dated expirations into 2033, 2034 and 2035.

Does the Ferroglobe (GSM) Form 3 specify that performance share units are guaranteed to vest?

No, vesting is not guaranteed. A footnote explains the figures are maximum numbers of shares that may vest, and they are tied to performance periods that have not yet ended, so actual vesting will depend on future performance outcomes.

How many Ferroglobe (GSM) ordinary shares does Benjamin Crespy directly hold?

The Form 3 shows he directly holds 345 ordinary shares. In addition, he holds several tranches of performance share units that could become ordinary shares in the future if Ferroglobe meets specified performance conditions over multi‑year periods.

What is the exercise price and duration of the Ferroglobe (GSM) performance share units?

The performance share units have a stated exercise price of 0.0000, meaning no cash payment is required at exercise. Their expiration dates extend to 2033, 2034 and 2035, reinforcing their role as long-term, performance-based incentive awards for the COO.