Lifezone Metals CEO converts 110K RSUs to shares

Lifezone Metals’ CEO converted 110,000 RSUs into ordinary shares and used 48,949 shares to cover exercise price or tax obligations at a weighted average of $4.04.

Rhea-AI Filing Summary

Lifezone Metals Ltd (LZM) reported that Chief Executive Officer Christopher Michael Showalter converted 110,000 Restricted Stock Units into the same number of ordinary shares on September 7, 2026, with these RSUs vesting in three equal installments on April 7, 2026, September 7, 2026 and April 7, 2027. In connection with this equity event, 48,949 ordinary shares were delivered or withheld to satisfy the exercise price or tax liability at a weighted average price of $4.04 per share, based on multiple trades between $3.81 and $4.35 from September 7 through September 10, 2026. No Rule 10b5-1 trading plan is reported for these transactions.

Insider Trade Summary

110,000 shares exercised/converted

Exercise 3 txns

Insider Showalter Christopher Michael

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Conversion	Lifezone Metals Restricted Stock Units F3, F4	110,000	$0.0001	$11.00
Conversion	Lifezone Metals Ordinary Share	110,000	$0.0001	$11.00
Exercise Price or Tax Liability	Lifezone Metals Ordinary Share F1, F2	48,949	$4.04	$198K

Holdings After Transaction: Lifezone Metals Restricted Stock Units — 110,000 contracts (Direct); Lifezone Metals Ordinary Share — 2,910,728 shares (Direct)

Footnotes (4)

1. F1. Transaction date includes trading dates starting from September 7, 2026 and ending on September 10, 2026
2. F2. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $3.81 to $4.35, inclusive. The reporting person undertakes to provide the staff of the Securities and Exchange Commission (the "SEC"), upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote.
3. F3. Each Restricted Stock Unit represents a contingent right to receive one ordinary share of Lifezone Metals Limited.
4. F4. RSUs vest equally in three installments on April 7, 2026, September 7, 2026 and April 7, 2027.

Key Figures

RSUs converted: 110,000 units Ordinary shares received: 110,000 shares Shares delivered/withheld for exercise price or tax liability: 48,949 shares +4 more

7 metrics

RSUs converted 110,000 units Restricted Stock Units converted into ordinary shares on September 7, 2026

Ordinary shares received 110,000 shares Shares issued upon RSU conversion on September 7, 2026

Shares delivered/withheld for exercise price or tax liability 48,949 shares Code F transaction related to the September 2026 equity event

Weighted average price $4.04 per share For 48,949 shares traded between September 7 and 10, 2026

Trade price range $3.81–$4.35 per share Price range for multiple trades underlying the weighted average

RSU vesting schedule 3 equal installments Vesting on April 7, 2026; September 7, 2026; and April 7, 2027

Shares following RSU conversion (derivative position) 110,000 units RSU derivative line shows 110,000 units following the conversion entry

Key Terms

Restricted Stock Unit, weighted average price, ordinary share, tax liability

4 terms

Restricted Stock Unit financial

"Each Restricted Stock Unit represents a contingent right to receive one ordinary share"

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

weighted average price financial

"The reported price is a weighted average price. These shares were sold"

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

ordinary share financial

"Each Restricted Stock Unit represents a contingent right to receive one ordinary share"

An ordinary share is a unit of ownership in a company that gives the holder a stake in its profits and usually the right to vote on key decisions. Think of it like a slice of a pizza where each slice entitles you to a portion of what’s left after bills are paid; value can rise or fall with the business and may pay dividends, so it matters to investors for income, growth and control.

tax liability financial

"Payment of exercise price or tax liability by delivering or withholding securities"

FAQ

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

What insider equity transaction did LZM’s CEO report on this Form 4?

Lifezone Metals’ CEO Christopher Michael Showalter reported converting 110,000 Restricted Stock Units into 110,000 ordinary shares on September 7, 2026, as part of his equity compensation vesting schedule.

How many LZM RSUs did the CEO convert and into how many shares?

The CEO converted 110,000 Restricted Stock Units, with each unit representing a contingent right to receive one ordinary share of Lifezone Metals, resulting in 110,000 ordinary shares on September 7, 2026.

What shares were used to cover tax or exercise obligations in the LZM Form 4?

In connection with the equity event, 48,949 Lifezone Metals ordinary shares were delivered or withheld for payment of the exercise price or tax liability, as disclosed under transaction code F in the Form 4.

At what prices were the LZM shares involved in the tax or exercise payment traded?

The 48,949 shares delivered or withheld were traded at a weighted average price of $4.04 per share, with individual trades executed in a price range from $3.81 to $4.35, inclusive.

Over what dates did the LZM trades related to the Form 4 occur?

The filing states that the transaction date covers trading dates from September 7, 2026 through September 10, 2026, during which the multiple trades used to compute the weighted average price took place.

How do the CEO’s RSUs in LZM vest over time?

The RSUs reported vest in three equal installments on April 7, 2026, September 7, 2026 and April 7, 2027, with each vested Restricted Stock Unit entitling the holder to receive one Lifezone Metals ordinary share.

Were the LZM insider transactions executed under a Rule 10b5-1 trading plan?

No. The Form 4 indicates that the Rule 10b5-1 checkbox is not marked, so no Rule 10b5-1 trading plan is reported in connection with these transactions.

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

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Available on EDGAR 09/14/2026 - 08:57 AM Accepted by SEC EDGAR 09/14/2026 - 08:57 AM Learn about SEC filing dates

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^*

Showalter Christopher Michael

(Last) (First) (Middle)

2ND FLOOR, ST GEORGE'S COURT

UPPER CHURCH STREET,

(Street)

DOUGLAS IM1 1EE

(City) (State) (Zip)

ISLE OF MAN

(Country)

2. Issuer Name and Ticker or Trading Symbol
Lifezone Metals Ltd [ LZM ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/07/2026

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)
			Code	V	Amount	(A) or (D)	Price
Lifezone Metals Ordinary Share	09/07/2026	09/07/2026	C		110,000	A	$0.0001	2,959,677	D
Lifezone Metals Ordinary Share	09/07/2026(1)	09/10/2026	F		48,949	D	$4.04(2)	2,910,728	D

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Lifezone Metals Restricted Stock Units	(3)	09/07/2026	09/07/2026	C			110,000	(4)	(4)	Lifezone Metals Ordinary Share	110,000	$0.0001	110,000	D

Explanation of Responses:

1. Transaction date includes trading dates starting from September 7, 2026 and ending on September 10, 2026

2. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $3.81 to $4.35, inclusive. The reporting person undertakes to provide the staff of the Securities and Exchange Commission (the "SEC"), upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote.

3. Each Restricted Stock Unit represents a contingent right to receive one ordinary share of Lifezone Metals Limited.

4. RSUs vest equally in three installments on April 7, 2026, September 7, 2026 and April 7, 2027.

Remarks:

	Chris Showalter	09/12/2026
	** 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)