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

Role
Director
Signature
/s/ David Daily
Stock symbol
FFNTF
Transactions as of
Jun 23, 2023
Transactions value $
$0
Form type
4
Date filed
6/30/2023, 01:20 PM
Previous filing
Dec 9, 2022
Next filing
May 7, 2024

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 $0.61 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 $0.84 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) Award +1.2M 1.2M Jun 23, 2023 Class A Subordinate Voting Shares 1.2M $0.14 Direct F3, F6, F9, F10, F11
* 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$0.80 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$1.11 using an exchange rate of C$1.3199 = US$1.00 as of June 23, 2023.
F5 The option was granted on December 2, 2020 and vested as follows: one-half on June 2, 2021, and one-half on December 2, 2021.
F6 The reporting person agreed to cancellation of an option granted to him on December 2, 2020, 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 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.
F11 The options will vest 1/3rd on December 23, 2023, 1/3rd on June 23, 2024, and 1/3rd on December 23, 2024.