Cristina Maria Nunez - 13 Sep 2023 Form 4 Insider Report for Verano Holdings Corp. (VRNOF)

Role
Director
Signature
/s/ Laura Marie Kalesnik, Attorney-in-Fact
Issuer symbol
VRNOF
Transactions as of
13 Sep 2023
Net transactions value
-$16,128
Form type
4
Filing time
14 Sep 2023, 17:30:26 UTC
Previous filing
07 Sep 2023
Next filing
18 Dec 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VRNOF Class A Subordinate Voting Shares Options Exercise -8,727 -19% 37,119 13 Sep 2023 Direct F1
transaction VRNOF Class A Subordinate Voting Shares Sale $16,128 -3,491 -9.4% $4.62 33,628 13 Sep 2023 Direct F2, F3

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
transaction VRNOF Restricted Stock Units Options Exercise $0 -8,727 -7.2% $0.000000 112,092 13 Sep 2023 Class A Subordinate Voting Shares 8,727 $0.000000 Direct F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

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).

Explanation of Responses:

Id Content
F1 This transaction represents the settlement of vested restricted stock units into Class A Subordinate Voting Shares.
F2 This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 6, 2023.
F3 Represents a weighted average sale price for multiple sale transactions ranging from $4.59 to $4.63 per share. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.
F4 The restricted stock units were granted under the Verano Holdings Corp. Stock and Incentive Plan on June 1, 2023. Each restricted stock unit reflects a contingent right to receive one Class A Subordinate Voting Share.
F5 The restricted stock units vested 25% on the grant date and vest 25% on each six-month anniversary of the grant date.