International Battery Metals (IBATF) SVP exercises 400K RSUs, holds PBRSUs tied to EBITDA and market-cap goals
Rhea-AI Filing Summary
INTERNATIONAL BATTERY METALS LTD. SVP of Corporate Development James Garrett Galloway reported compensation-related equity activity. On June 15, 2026, he exercised 400,000 Restricted Share Units at an exercise price of $0.00 per unit, receiving 400,000 Common Shares held directly.
He continues to hold multiple grants of Performance Based Restricted Share Units (PBRSUs), each convertible into one common share upon meeting specified milestones. These PBRSUs include awards tied to deployment of two additional Direct Lithium Extraction plants, a successful listing on a major stock exchange, annualized EBITDA targets of $25 million and $50 million, and market capitalization targets of $750 million and $1.5 billion measured over a 60‑day volume weighted average trading price. The filing reflects equity incentives rather than open‑market buying or selling.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 400,000 shares
Net Buy
6 txns
Insider
GALLOWAY JAMES GARRETT
Role
SVP of Corporate Development
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Share Units | 400,000 | $0.00 | $0.00 |
| Exercise | Common Shares, no par value | 400,000 | $0.00 | $0.00 |
| holding | Performance Based Restricted Share Unit | -- | -- | -- |
| holding | Performance Based Restricted Share Unit | -- | -- | -- |
| holding | Performance Based Restricted Share Unit | -- | -- | -- |
| holding | Performance Based Restricted Share Unit | -- | -- | -- |
Holdings After Transaction:
Restricted Share Units — 0 shares (Direct);
Common Shares, no par value — 400,000 shares (Direct);
Performance Based Restricted Share Unit — 3,582,715 shares (Direct)
Footnotes (7)
- F1. The Restricted Share Units ("RSUs") each represent a contingent right to receive one common share of International Battery Metals Ltd. (the "Issuer").
- F2. Represents Restricted Share Units ("RSUs") granted on June 2, 2025, under International Battery Metals Ltd.'s (the "Issuer") Amended and Restated Restricted Share Unit Plan (as amended, the "Plan"), which vests in full on June 15, 2026. Each RSU represents a contingent right to receive one Common Share.
- F3. Each PBRSU represents a contingent right to receive one share of Common Stock.
- F4. Represents Performance Based Restricted Share Units ("PBRSUs") granted on June 2, 2025, under the Plan, which shall vest upon completion of and deployment of two additional Direct Lithium Extraction Plants, subject to the terms of the associated Restricted Share Unit Agreement.
- F5. Represents Performance Based Restricted Share Units granted on February 4, 2026, which will vest in full 60 days following the Issuer's successful listing on a major stock exchange.
- F6. Represents Performance Based Restricted Share Units granted on February 4, 2026, of which, 50% shall vest upon the Issuer achieving an annualized EBITDA of $25 million and the remaining 50% shall vest upon the Issuer achieving an annualized EBITDA of $50 million.
- F7. Represents Performance Based Restricted Share Units granted on February 4, 2026, of which, 50% shall vest upon the Issuer achieving a $750 million market capitalization over a 60 day volume weighted average trading price and the remaining 50% shall vest upon the Issuer achieving $1.5 billion market capitalization over a 60 day volume weighted average trading price.
Key Figures
RSUs exercised: 400,000 units
Common Shares received: 400,000 shares
EBITDA vesting threshold 1: $25 million annualized EBITDA
+4 more
7 metrics
RSUs exercised
400,000 units
Restricted Share Units exercised on June 15, 2026
Common Shares received
400,000 shares
Shares issued from RSU exercise at $0.00 per unit
EBITDA vesting threshold 1
$25 million annualized EBITDA
PBRSU vesting condition
EBITDA vesting threshold 2
$50 million annualized EBITDA
PBRSU vesting condition
Market-cap threshold 1
$750 million
PBRSU vests on 60-day VWAP market cap level
Market-cap threshold 2
$1.5 billion
PBRSU vests on 60-day VWAP market cap level
PBRSU block example
860,905 underlying shares
One Performance Based Restricted Share Unit grant, direct ownership
Key Terms
Performance Based Restricted Share Unit, Restricted Share Units, EBITDA, market capitalization, +2 more
6 terms
EBITDA financial
"50% shall vest upon the Issuer achieving an annualized EBITDA of $25 million and the remaining 50% shall vest upon the Issuer achieving an annualized EBITDA of $50 million"
EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.
market capitalization financial
"shall vest upon the Issuer achieving a $750 million market capitalization over a 60 day volume weighted average trading price"
Market capitalization is the total market value of a company’s outstanding shares, calculated by multiplying the current share price by the number of shares issued. It gives a quick snapshot of a company’s size and how investors value it, influencing perceived risk, index membership, and roughly how much it might cost to buy the whole company — like using a sticker price to compare the relative size and price of different houses.
volume weighted average trading price financial
"over a 60 day volume weighted average trading price and the remaining 50% shall vest upon the Issuer achieving $1.5 billion market capitalization"
Volume weighted average trading price (VWAP) is the average price of a security over a set period, calculated by giving more weight to prices where more shares were traded — in other words, prices with higher volume count more. Investors use VWAP as a benchmark to judge trade execution and market activity: it helps tell whether a buy or sell occurred at a better or worse price than the market’s typical traded level, like comparing your purchase to the crowd’s average.
Direct Lithium Extraction Plants technical
"shall vest upon completion of and deployment of two additional Direct Lithium Extraction Plants"
FAQ
What insider equity transaction did IBATF executive James Garrett Galloway report?
James Garrett Galloway exercised 400,000 Restricted Share Units at an exercise price of $0.00 per unit, receiving 400,000 Common Shares. This was a compensation-related derivative exercise, not an open-market stock purchase or sale.
What type of derivatives does James Garrett Galloway still hold in INTERNATIONAL BATTERY METALS LTD. (IBATF)?
He holds multiple Performance Based Restricted Share Units, each representing a contingent right to receive one common share. These PBRSUs remain outstanding and are tied to operational, financial, and market capitalization performance milestones defined in the company’s equity plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
