Andrew Thut - Jun 23, 2023 Form 4 Insider Report for 4Front Ventures Corp. (FFNTF)

Signature
/s/ Andrew Thut
Stock symbol
FFNTF
Transactions as of
Jun 23, 2023
Transactions value $
$0
Form type
4
Date filed
6/30/2023, 01:16 PM
Previous filing
Apr 27, 2023
Next filing
Nov 9, 2023

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 FFNTF Stock Option (right to buy) Disposed to Issuer -500K -7.73% 5.97M Jun 23, 2023 Class A Subordinate Voting Shares 500K $0.76 Direct F1, F2, F3
transaction FFNTF Stock Option (right to buy) Disposed to Issuer -500K -7.73% 5.97M Jun 23, 2023 Class A Subordinate Voting Shares 500K $0.65 Direct F4, F5, F6
transaction FFNTF Stock Option (right to buy) Disposed to Issuer -2M -25.11% 5.97M Jun 23, 2023 Class A Subordinate Voting Shares 2M $1.23 Direct F7, F8, F9
transaction FFNTF Stock Option (right to buy) Disposed to Issuer -5.05M -45.82% 5.97M Jun 23, 2023 Class A Subordinate Voting Shares 5.05M $0.46 Direct F10, F11
transaction FFNTF Stock Option (right to buy) Award +8.05M +134.87% 14M Jun 23, 2023 Class A Subordinate Voting Shares 8.05M $0.14 Direct F3, F6, F9, F11, F12, F13
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Converted from Canadian exercise price of C$1.00 using an exchange rate of C$1.3199 = US$1.00 as of June 23, 2023.
F2 The option was granted on August 22, 2019 and vested as follows: one-third on August 22, 2020, one-third on August 21, 2021, and one-third on August 22, 2022.
F3 The reporting person agreed to cancellation of an option granted to him on August 22, 2019, in exchange for a new option having a lower exercise price.
F4 Converted from Canadian exercise price of C$0.86 using an exchange rate of C$1.3199 = US$1.00 as of June 23, 2023.
F5 The option was granted on September 15, 2020 and vested as follows: one-half on March 15, 2021, and one-half on September 15, 2021.
F6 The reporting person agreed to cancellation of an option granted to him on September 15, 2020, in exchange for a new option having a lower exercise price.
F7 Converted from Canadian exercise price of C$1.63 using an exchange rate of C$1.3199 = US$1.00 as of June 23, 2023.
F8 The option was granted on March 21, 2021 and vested in three equal installments on each of September 18, 2021, March 18, 2022, and September 18, 2022.
F9 The reporting person agreed to cancellation of an option granted to him on March 21, 2021, in exchange for a new option having a lower exercise price.
F10 Converted from Canadian exercise price of C$0.61 using an exchange rate of C$1.3199 = US$1.00 as of June 23, 2023.
F11 The reporting person agreed to cancellation of an option granted to him on November 16, 2022, in exchange for a new option having a lower exercise price.
F12 Converted from Canadian exercise price of C$0.19 using an exchange rate of C$1.3199 = US$1.00 as of June 23, 2023.
F13 The options will vest 1/3rd on December 23, 2023, 1/3rd on June 23, 2024, and 1/3rd on December 23, 2024.