What are Deferred Share Units (DSUs) in the LAC Form 4 filing?

Deferred Share Units represent the right to receive one common share of Lithium Americas in the future. The shares are not issued immediately, and the holder has no voting or dispositive rights over the underlying common shares until their board service ends.

Lithium Americas (LAC) director granted 12,312 DSUs, raising total to 129,218

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

BROWN MICHAEL JOHN reported acquisition or exercise transactions in this Form 4 filing.

LITHIUM AMERICAS CORP. director Michael John Brown received a grant of 12,312 Deferred Share Units (DSUs) as compensation. Each DSU represents the right to receive one common share of the company in the future. Following this award, he holds 129,218 DSUs directly.

The footnote explains that the underlying common shares are not issued, and he has no voting or dispositive rights over those shares until his service as a director ends. Settlement occurs automatically after termination, with timing differing for U.S. and non-U.S. participants.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider BROWN MICHAEL JOHN

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Deferred Share Units ("DSUs")	12,312	$0.00	--

Holdings After Transaction: Deferred Share Units ("DSUs") — 129,218 shares (Direct)

Footnotes (1)

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Key Figures

DSUs granted: 12,312 units DSUs after grant: 129,218 units Transaction price per DSU: $0.00 +1 more

4 metrics

DSUs granted 12,312 units Deferred Share Units granted to director on July 6, 2026

DSUs after grant 129,218 units Total Deferred Share Units held directly after transaction

Transaction price per DSU $0.00 Grant price per Deferred Share Unit

Transaction code A Grant, award, or other acquisition of derivative security

Key Terms

Deferred Share Units ("DSUs"), voting or dispositive rights, termination of the Reporting Person's employment or services, settled

4 terms

voting or dispositive rights regulatory

"shall not have any voting or dispositive rights with respect"

termination of the Reporting Person's employment or services regulatory

"until termination of the Reporting Person's employment or services"

settled financial

"Grants to U.S. eligible participants will be settled"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/08/2026 - 11:18 AM Accepted by SEC EDGAR 07/08/2026 - 11:17 AM

FAQ

What insider transaction did LAC director Michael John Brown report?

Michael John Brown reported receiving 12,312 Deferred Share Units as a compensation grant. These DSUs are a form of deferred equity that convert into common shares later, increasing his total DSU holdings to 129,218 units after the transaction.

How many DSUs does LAC’s director hold after this grant?

After the 12,312-unit grant, Michael John Brown holds 129,218 Deferred Share Units. This figure reflects his total direct DSU position as reported, representing deferred rights to receive an equivalent number of Lithium Americas common shares at settlement.

When will Michael John Brown’s LAC DSUs be settled into common shares?

The DSUs settle after his termination as a director. For U.S. participants, settlement occurs six months after the termination date, while for non-U.S. participants settlement occurs on the 20th business day following the termination date, without further action by the director.

Does Michael John Brown have voting rights on the LAC shares underlying his DSUs?

He does not have voting or dispositive rights over the underlying common shares while the DSUs are outstanding. Those rights only arise when the DSUs are settled into actual common shares after his service as a director ends and settlement occurs under the plan rules.

Is the LAC Form 4 transaction an open-market buy or sale?

The transaction is a grant of Deferred Share Units as compensation, not an open-market trade. It is coded as an acquisition under a grant or award, with no cash purchase or sale on the open market associated with this Form 4 entry.

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

BROWN MICHAEL JOHN

(Last)

(First)

(Middle)

C/O LITHIUM AMERICAS CORP.

522 S. ROCK BLVD., SUITE 200

(Street)

RENO

NEVADA

89502

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
LITHIUM AMERICAS CORP. [ LAC ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/06/2026

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

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

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

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Deferred Share Units ("DSUs")	⁽¹⁾	07/06/2026		A		12,312		⁽¹⁾	⁽¹⁾	Common Shares	12,312	$0	129,218	D

Explanation of Responses:

1. Each DSU represents the right to receive one common share of the Issuer. The underlying common shares will not be issued to the Reporting Person, and the Reporting Person shall not have any voting or dispositive rights with respect to the underlying common shares, until termination of the Reporting Person's employment or services as a director of the Issuer. Grants to U.S. eligible participants will be settled with no further action by the Reporting Person on the date that is 6 months following the Reporting Person's termination date. Grants to non-U.S. eligible participants will be settled with no further action by the Reporting Person on the 20th business day following the Reporting Person's termination date.

	/s/ Tereza Fonda as attorney-in-fact for Michael John Brown	07/07/2026
	** 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 4 (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 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR