Lifezone CTO converts 66K RSUs into shares

Lifezone Metals’ CTO converted 66,000 RSUs into ordinary shares and now directly holds 476,960 shares.

Rhea-AI Filing Summary

Lifezone Metals Ltd (LZM) reported that Chief Technology Officer Michael David Adams converted 66,000 Restricted Stock Units into 66,000 ordinary shares on September 7, 2026. Each RSU represents a contingent right to receive one ordinary share. Following this conversion, Adams directly holds 476,960 ordinary shares of Lifezone Metals.

The RSUs vest equally in three installments on April 7, 2026, September 7, 2026 and April 7, 2027. No Rule 10b5-1 trading plan is indicated for these transactions.

Insider Trade Summary

66,000 shares exercised/converted

Exercise 2 txns

Insider Adams Michael David

Role Chief Technology Officer

Type	Security	Shares	Price	Value
Conversion	Lifezone Metals Restricted Stock Units F1, F2	66,000	$0.0001	$6.60
Conversion	Lifezone Metals Ordinary Share	66,000	$0.0001	$6.60

Holdings After Transaction: Lifezone Metals Restricted Stock Units — 66,000 contracts (Direct); Lifezone Metals Ordinary Share — 476,960 shares (Direct)

Footnotes (2)

1. F1. Each Restricted Stock Unit represents a contingent right to receive one ordinary share of Lifezone Metals Limited.
2. F2. RSUs vest equally in three installments on April 7, 2026, September 7, 2026 and April 7, 2027.

Key Figures

RSUs converted: 66,000 units Ordinary shares acquired from conversion: 66,000 shares Share holdings after transaction: 476,960 shares +2 more

5 metrics

RSUs converted 66,000 units Restricted Stock Units converted on September 7, 2026

Ordinary shares acquired from conversion 66,000 shares Ordinary shares received from RSU conversion on September 7, 2026

Share holdings after transaction 476,960 shares Direct Lifezone Metals ordinary shares held by CTO after conversion

Reported transaction price per share $0.0001 per share Price field for both the RSU and ordinary share legs of the conversion

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

Key Terms

Restricted Stock Unit, contingent right, ordinary share, conversion of derivative security

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.

contingent right financial

"represents a contingent right to receive one ordinary share of Lifezone Metals"

ordinary share financial

"to receive one ordinary share of Lifezone Metals Limited"

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.

conversion of derivative security financial

"transaction code description: Conversion of derivative security"

FAQ

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

What insider transaction did LZM’s Chief Technology Officer report?

Michael David Adams, Chief Technology Officer of LZM, reported converting 66,000 Restricted Stock Units into 66,000 ordinary shares of Lifezone Metals on September 7, 2026, through a derivative conversion transaction.

How many Lifezone Metals (LZM) shares does the CTO own after this Form 4?

After the reported transactions, Chief Technology Officer Michael David Adams directly holds 476,960 Lifezone Metals ordinary shares, according to the Form 4 disclosure.

What are the vesting dates of the RSUs reported by LZM’s CTO?

The Restricted Stock Units reported by LZM’s CTO vest equally in three installments on April 7, 2026, September 7, 2026 and April 7, 2027, as disclosed in the footnotes.

What does each Restricted Stock Unit represent in the LZM Form 4 filing?

Each Restricted Stock Unit reported by the LZM Chief Technology Officer represents a contingent right to receive one ordinary share of Lifezone Metals Limited, according to the footnote disclosure.

Was the LZM CTO’s RSU conversion under a Rule 10b5-1 trading plan?

No. The filing’s Rule 10b5-1 checkbox is marked as false, indicating the reported RSU conversion transactions were not affirmed as made under a Rule 10b5-1 trading plan.

What transaction codes were used in the LZM CTO’s Form 4?

The transactions are reported with code C, indicating a conversion of derivative security, covering both the disposition of 66,000 RSUs and the acquisition of 66,000 ordinary shares on September 7, 2026.

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

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Available on EDGAR 09/10/2026 - 11:02 AM EDT Accepted by SEC EDGAR 09/10/2026 - 11:01 AM EDT 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^*

Adams Michael David

(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 Technology 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		66,000	A	$0.0001	476,960	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	(1)	09/07/2026	09/07/2026	C			66,000	(2)	(2)	Lifezone Metals Ordinary Share	66,000	$0.0001	66,000	D

Explanation of Responses:

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

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

Remarks:

	Mike Adams	09/10/2026
	** 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)