Timothy Shaw - 07 Mar 2023 Form 4 Insider Report for MARIMED INC. (MRMD)

Role
Chief Operating Officer
Signature
/s/ Timothy Shaw
Issuer symbol
MRMD
Transactions as of
07 Mar 2023
Transactions value $
$0
Form type
4
Filing time
14 Mar 2023, 16:42:52 UTC
Previous filing
31 Oct 2022
Next filing
01 May 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding MRMD Common stock 8,299,508 07 Mar 2023 Direct
holding MRMD Common stock 2,000,000 07 Mar 2023 By the Shaw Family Trust F1

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 MRMD Restricted Stock Units (RSU) Award $0 +130,000 $0 130,000 07 Mar 2023 Common Stock, par value $.001 per share 130,000 Direct F2, F3
holding MRMD Restricted Stock Units (RSU) 666,667 07 Mar 2023 Common Stock, par value $.001 per share 666,667 Direct F2, F4
holding MRMD Option to buy common stock 1,250,000 07 Mar 2023 Common Stock, par value $.001 per share 1,250,000 $0.898 Direct F5
holding MRMD Option to buy common stock 1,250,000 07 Mar 2023 Common Stock, par value $.001 per share 1,250,000 $0.88 Direct F5
holding MRMD Option to buy common stock 50,000 07 Mar 2023 Common Stock, par value $.001 per share 50,000 $0.3 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reporting person's spouse is the trustee of the trust and the shares held in the trust are for the benefit of the reporting person's children. The trust is an irrevocable trust. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
F2 The RSUs were granted to the Reporting Person in accordance with Rule 16b-3(d) of the Securities Exchange Act of 1934, as amended. Each RSU represents a contingent right to receive one share of the Issuer's common stock. RSUs convert to common stock on a one-for-one basis.
F3 The RSUs vest over a three year period of which 43,333 RSUs will vest on March 7, 2024 and thereafter, 21,667 RSUs will vest every succeeding six (6) months through March 7, 2026, on each of September 7th and March 7th, in accordance with the terms of an award agreement between the Issuer and the Reporting Person.
F4 The RSUs vest over a three year period in equal one-sixth installments every six months following the October 27, 2022 grant date, in accordance with the terms of an award agreement between the Issuer and the Reporting Person.
F5 Immediately.