How many Ferroglobe (GSM) shares are underlying the reported performance share units?

The filing shows performance share units tied to 47,193 underlying ordinary shares and 66,879 underlying ordinary shares. These figures represent the maximum number of shares that may vest, depending on whether specified performance periods and conditions are ultimately satisfied.

What are the expiration dates of the Ferroglobe (GSM) performance share units reported?

One block of performance share units expires on June 19, 2034, and another on September 10, 2035. These dates mark the end of the period during which the units can convert into ordinary shares, assuming their performance conditions are met before expiration.

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

The exercise price for both sets of performance share units is reported as $0.0000 per underlying ordinary share. This indicates that, if the units vest based on performance, the shares would be delivered without additional cash payment by the holder at exercise.

Are the Ferroglobe (GSM) performance share units already vested or still subject to conditions?

The footnote states the figures refer to the maximum number of shares that may vest, subject to performance periods that have not yet ended. This means vesting depends on future performance outcomes, so the actual number of shares received could be less than the maximum.

Ferroglobe CCO reports performance share units

Ferroglobe PLC Chief Commercial Officer Carsten Larsen filed an initial ownership statement reporting holdings of performance share units tied to ordinary shares.

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Form Type

Rhea-AI Filing Summary

Ferroglobe PLC Chief Commercial Officer Carsten Larsen filed an initial ownership statement reporting holdings of performance share units tied to ordinary shares. These units represent rights over 47,193 underlying ordinary shares expiring on June 19, 2034 and 66,879 underlying ordinary shares expiring on September 10, 2035.

The exercise price for these performance share units is listed as $0.0000 per share. A footnote clarifies that the figures refer to the maximum number of shares that may vest, as they are subject to performance periods that have not yet ended, meaning the actual shares ultimately delivered could be lower.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Larsen Carsten

Role Chief Commercial Officer

Type	Security	Shares	Price	Value
holding	Performance share units	--	--	--
holding	Performance share units	--	--	--

Holdings After Transaction: Performance share units — 114,072 contracts (Direct)

Footnotes (1)

F1. Refers to the maximum number of shares to potentially vest for performance share units subject to performance periods that have not yet ended.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does Ferroglobe (GSM) Chief Commercial Officer report in this Form 3?

Carsten Larsen reports holdings of performance share units linked to Ferroglobe ordinary shares. These units cover up to 47,193 shares expiring in 2034 and 66,879 shares expiring in 2035, reflecting potential future equity compensation subject to performance conditions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/18/2026 - 05:31 PM EDT

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

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Larsen Carsten

(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 Commercial 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)

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)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	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)
Performance share units	06/19/2027	06/19/2034	Ordinary shares	47,193⁽¹⁾	$0	D
Performance share units	09/10/2028	09/10/2035	Ordinary shares	66,879⁽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 Carsten Larsen	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)