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

Role
Director
Signature
/s/ Chetan Gulati
Stock symbol
FFNTF
Transactions as of
Jun 23, 2023
Transactions value $
$0
Form type
4
Date filed
6/30/2023, 01:19 PM
Previous filing
Dec 9, 2022
Next filing
Oct 30, 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 -600K -100% 0 Jun 23, 2023 Class A Subordinate Voting Shares 600K $0.80 Direct F1, F2, F3
transaction FFNTF Stock Option (right to buy) Disposed to Issuer -200K -100% 0 Jun 23, 2023 Class A Subordinate Voting Shares 200K $1.23 Direct F4, F5, F6
transaction FFNTF Stock Option (right to buy) Disposed to Issuer -400K -100% 0 Jun 23, 2023 Class A Subordinate Voting Shares 400K $0.53 Direct F7, F8, F9
transaction FFNTF Stock Option (right to buy) Disposed to Issuer -350K -100% 0 Jun 23, 2023 Class A Subordinate Voting Shares 350K $0.53 Direct F7, F9, F10
transaction FFNTF Stock Option (right to buy) Award +1.55M 1.55M Jun 23, 2023 Class A Subordinate Voting Shares 1.55M $0.14 Direct F3, F6, F9, F11, F12
* 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$1.06 using an exchange rate of C$1.3199 = US$1.00 as of June 23, 2023.
F2 The option was granted on December 21, 2020 and vests as follows: one-third on December 21, 2021, one-third on December 21, 2022, and one-third on December 21, 2023.
F3 The reporting person agreed to cancellation of an option granted to him on December 21, 2020, in exchange for a new option having a lower exercise price.
F4 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.
F5 The option was granted on March 18, 2021 and vested in three equal installments on September 18, 2021, March 18, 2022 and September 18, 2022.
F6 The reporting person agreed to cancellation of an option granted to him on March 18, 2021, in exchange for a new option having a lower exercise price.
F7 Converted from Canadian exercise price of C$0.70 using an exchange rate of C$1.3199 = US$1.00 as of June 23, 2023.
F8 The option was granted on December 5, 2022 and vests in monthly 1/24th increments beginning on December 5, 2023.
F9 The reporting person agreed to cancellation of an option granted to him on December 5, 2022, in exchange for a new option having a lower exercise price.
F10 The option was granted on December 5, 2022 and vests on December 5, 2023.
F11 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.
F12 The options will vest 1/3rd on December 23, 2023, 1/3rd on June 23, 2024, and 1/3rd on December 23, 2024.