Lifezone CTO converts 68K RSUs into ordinary shares

Lifezone Metals Ltd Chief Technology Officer Michael David Adams reported acquiring additional equity through a compensation-related share conversion.

Rhea-AI Filing Summary

Lifezone Metals Ltd Chief Technology Officer Michael David Adams reported acquiring additional equity through a compensation-related share conversion. On April 7, 2026, 68,000 Lifezone Metals Restricted Stock Units were converted into 68,000 Lifezone Metals ordinary shares at a nominal price of $0.0001 per share through a derivative security conversion.

Following the transaction, Adams directly owned 410,960 ordinary shares and 132,000 restricted stock units. Each Restricted Stock Unit represents a contingent right to receive one ordinary share, and these RSUs vest in three equal installments on April 7, 2026, September 7, 2026 and April 7, 2027, aligning his compensation more closely with the company’s future performance.

Insider Trade Summary

68,000 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	68,000	$0.0001	$6.80
Conversion	Lifezone Metals Ordinary Share	68,000	$0.0001	$6.80

Holdings After Transaction: Lifezone Metals Restricted Stock Units — 132,000 contracts (Direct); Lifezone Metals Ordinary Share — 410,960 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: 68,000 units Shares acquired via conversion: 68,000 shares Conversion price: $0.0001 per share +3 more

6 metrics

RSUs converted 68,000 units Restricted Stock Units converted on April 7, 2026

Shares acquired via conversion 68,000 shares Ordinary shares received on April 7, 2026

Conversion price $0.0001 per share Price used for RSU-to-share conversion

Ordinary shares after transaction 410,960 shares Direct holdings following April 7, 2026 transaction

RSUs after transaction 132,000 units Restricted Stock Units held after reported activity

RSU vesting dates April 7, 2026; September 7, 2026; April 7, 2027 Three equal vesting installments

Key Terms

Restricted Stock Unit, derivative security, derivative conversion, vesting, +1 more

5 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.

derivative security financial

"Conversion of derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

derivative conversion financial

"transaction_action: derivative conversion"

vesting financial

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

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

ordinary share financial

"Lifezone Metals 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.

FAQ

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

What insider transaction did Lifezone Metals (LZM) report for Michael David Adams?

Lifezone Metals reported that Chief Technology Officer Michael David Adams acquired 68,000 ordinary shares via conversion of 68,000 Restricted Stock Units at $0.0001 per share, reflecting equity-based compensation rather than an open-market share purchase.

How many Lifezone Metals shares does Michael David Adams hold after this Form 4?

After the reported transactions, Michael David Adams directly holds 410,960 Lifezone Metals ordinary shares. He also holds 132,000 Restricted Stock Units, which represent contingent rights to receive ordinary shares as they vest over the disclosed schedule.

What is the vesting schedule for Michael David Adams’s Lifezone Metals RSUs?

Adams’s Restricted Stock Units vest in three equal installments. The vesting dates are April 7, 2026, September 7, 2026, and April 7, 2027. As each installment vests, he becomes entitled to receive ordinary shares on a one-for-one basis.

Was Michael David Adams’s Lifezone Metals transaction an open-market buy or sell?

The transaction was not an open-market buy or sell. It was a conversion of 68,000 Restricted Stock Units into 68,000 ordinary shares at a nominal $0.0001 per share, reflecting equity compensation mechanics rather than a market trade.

What does each Lifezone Metals Restricted Stock Unit held by Michael David Adams represent?

Each Lifezone Metals Restricted Stock Unit held by Michael David Adams represents a contingent right to receive one ordinary share. Those rights become actual shares as the RSUs vest on the scheduled dates outlined in his award terms.

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

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Accepted by SEC EDGAR 04/15/2026 - 06:01 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)

233/17 MOO 4 THEPKRASATTRI, THALANG

(Street)

PHUKET 83110

(City) (State) (Zip)

THAILAND

(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)
04/07/2026

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	04/07/2026		C		68,000	A	$0.0001	410,960	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)	04/07/2026(1)		C			68,000	(2)	(2)	Lifezone Metals Ordinary Share	68,000	$0.0001	132,000	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	04/15/2026
	** 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)