Terrestrial Energy director Form 3 lists 268,220 stock options
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
Terrestrial Energy Inc. (IMSR) disclosed an initial statement of beneficial ownership (Form 3) by a director. The filing reports 6,669 shares of Common Stock held directly and 14,930 shares held indirectly through a trust.
Derivative holdings include stock options for 22,352 shares exercisable at $1.4764 (price in Canadian dollars) expiring 10/01/2036, 111,758 shares at $2.0133 expiring 11/19/2037, and options for 67,055 shares at $2.237 expiring 04/01/2043 (vesting in thirds annually from 04/01/2024) and 67,055 shares at $2.237 expiring 02/03/2045 (vesting in thirds from 02/03/2026). Warrants cover 22,352 shares (direct) and 44,703 shares (through a trust) at $2.237 expiring 07/31/2028. Contingent value rights may deliver additional shares if the 20‑day VWAP after the lock‑up is less than 75% of the $7.905 redemption price.
The equity positions were received in connection with the closing of the business combination between New Terrestrial and Legacy Terrestrial.
Positive
- None.
Negative
- None.
Insider Trade Summary
10 transactions reported
Mixed
10 txns
Insider
BUCKMAN FREDERICK W
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Warrants (Right to Buy) | -- | -- | -- |
| holding | Warrants (Right to Buy) | -- | -- | -- |
| holding | Contingent Value Right | -- | -- | -- |
| holding | Contingent Value Right | -- | -- | -- |
| holding | Common Stock, par value $0.0001 per share ("Common Stock") | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option (Right to Buy) — 22,352 shares (Direct);
Warrants (Right to Buy) — 22,352 shares (Direct);
Warrants (Right to Buy) — 44,703 shares (Indirect, Through Trust);
Contingent Value Right — 0 shares (Direct);
Contingent Value Right — 0 shares (Indirect, Through Trust);
Common Stock, par value $0.0001 per share ("Common Stock") — 6,669 shares (Direct);
Common Stock — 14,930 shares (Indirect, Through Trust)
Footnotes (1)
- Upon closing of the business combination (the "Business Combination") between Terrestrial Energy Inc., a Delaware corporation formerly known as HCM II Acquisition Corp. ("New Terrestrial"), and Terrestrial Energy Development Inc., a Delaware corporation formerly known as Terrestrial Energy Inc. ("Legacy Terrestrial"), the reporting person acquired these securities in exchange for the reporting person's securities in Legacy Terrestrial pursuant to the terms and conditions of the Business Combination Agreement, dated as of March 26, 2025, by and among HCM II Acquisition Corp., HCM II Merger Sub Inc. and Legacy Terrestrial. Consists of options granted pursuant to the Legacy Terrestrial Second Amended and Restated 2024 Stock Option Plan. The options are currently exercisable. Consists of options granted pursuant to the Legacy Terrestrial Second Amended and Restated 2024 Stock Option Plan. The options vest in one-third increments on each of the first, second and third anniversaries of the grant date, subject to the reporting person's continued service through each applicable vesting date. Consists of Legacy Terrestrial warrants to purchase common stock that are currently exercisable. Consists of contingent value right issued upon conversion of Legacy Terrestrial convertible notes in connection with the Business Combination. Each contingent value right entitles the holder to receive additional shares of Common Stock in the event that the volume weighed average price of the Common Stock for the twenty (20) trading days beginning on the trading day immediately following expiration of the lock-up period contemplated by the applicable Legacy Terrestrial convertible note is less than seventy-five percent (75%) of the redemption price ($7.905). Price is expressed in Canadian dollars.
FAQ
What did Terrestrial Energy (IMSR) disclose in this Form 3?
A director reported initial beneficial ownership, including 6,669 shares directly and 14,930 shares indirectly through a trust, plus options, warrants, and contingent value rights.
What derivative securities and amounts are included?
Stock options for 22,352, 111,758, 67,055, and 67,055 shares; warrants for 22,352 (direct) and 44,703 (through a trust) shares.
What are the option exercise prices and expirations?
Options are at $1.4764 (CAD) expiring 10/01/2036, $2.0133 expiring 11/19/2037, and $2.237 expiring 04/01/2043 and 02/03/2045.
How do the vesting schedules work for certain options?
Options dated 04/01/2024 and 02/03/2026 vest in one‑third increments on each of the first, second, and third anniversaries of the grant date.
What are the terms of the reported warrants?
Warrants cover 22,352 shares (direct) and 44,703 shares (through a trust) at $2.237, expiring 07/31/2028.
What triggers the contingent value rights (CVRs)?
Each CVR entitles the holder to additional shares if the 20‑day VWAP after the lock‑up is below 75% of the $7.905 redemption price.