Dana Russell Arvidson - 18 Jun 2022 Form 3 Insider Report for TILT Holdings Inc. (TLLTF)

Role
Chief Operating Officer
Signature
/s/ Mark M. Higgins as attorney-in-fact for Dana Russell Arvidson
Issuer symbol
TLLTF
Transactions as of
18 Jun 2022
Net transactions value
$0
Form type
3
Filing time
21 Jun 2022, 19:21:26 UTC
Next filing
04 Jan 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding TLLTF Common Stock, no par value 50,000 18 Jun 2022 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding TLLTF Restricted Stock Units 18 Jun 2022 Common Stock, no par value 150,000 $0.000000 Direct F1, F2
holding TLLTF Performance Stock Units 18 Jun 2022 Common Stock, no par value 800,000 $0.000000 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit ("RSU") is equivalent in value to one share of the Issuer's common stock, no par value ("Common Stock"). The original grant of 200,000 RSUs has vested or will vest in four equal installments on each of the first through fourth anniversaries of December 31, 2020, subject to the Reporting Person's continued employment with the Issuer on each vesting date.
F2 RSUs do not expire; they either vest or are cancelled.
F3 Each performance stock unit ("PSU") is equivalent in value to one share of Common Stock. The PSUs will vest annually on December 31 of each year during the performance period of July 1, 2021 to December 31, 2024 ("Performance Period"), upon the Common Stock achieving specified prices per share during each half year period during the Performance Period, subject to the Reporting Person's continued employment with the Issuer on each vesting date; provided that (i) a maximum of 50% of the PSUs may vest on December 31, 2022, (ii) a maximum of 75% of the PSUs may vest on December 31, 2023 and (iii) a maximum of 100% of the PSUs may vest on December 31, 2024.
F4 PSUs do not expire; they either vest or are cancelled.

Remarks:

Exhibit List: Exhibit 24.1 - Power of Attorney