Leonid Gontmakher - 23 Jun 2023 Form 4 Insider Report for 4Front Ventures Corp. (FFNTF)

Signature
/s/ Leonid Gontmakher
Issuer symbol
FFNTF
Transactions as of
23 Jun 2023
Net transactions value
$0
Form type
4
Filing time
30 Jun 2023, 13:25:05 UTC
Previous filing
18 Nov 2022
Next filing
31 Aug 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 -700,000 -100% 0 23 Jun 2023 Class A Subordinate Voting Shares 700,000 $0.7600 Direct F1, F2, F3
transaction FFNTF Stock Option (right to buy) Disposed to Issuer -3,000,000 -100% 0 23 Jun 2023 Class A Subordinate Voting Shares 3,000,000 $0.5800 Direct F4, F5, F6, F7
transaction FFNTF Stock Option (right to buy) Award +3,700,000 3,700,000 23 Jun 2023 Class A Subordinate Voting Shares 3,700,000 $0.1400 Direct F3, F7, F8, F9
* 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$0.77 using an exchange rate of C$1.3199 = US$1.00 as of June 23, 2023.
F5 The option was granted on October 2, 2020 and vests as follows: one-half on April 2, 2021 and one-half on October 2, 2021.
F6 The option does not expire.
F7 The reporting person agreed to cancellation of an option granted to him on October 2, 2020, in exchange for a new option having a lower exercise price.
F8 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.
F9 The options will vest 1/3rd on December 23, 2023, 1/3rd on June 23, 2024, and 1/3rd on December 23, 2024.