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

Role
Consulting President
Signature
/s/ Karl Chowscano
Stock symbol
FFNTF
Transactions as of
Jun 23, 2023
Transactions value $
$0
Form type
4
Date filed
6/30/2023, 01:27 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 -1.5M -23.08% 5M Jun 23, 2023 Class A Subordinate Voting Shares 1.5M $0.76 Direct F1, F2, F3
transaction FFNTF Stock Option (right to buy) Disposed to Issuer -2M -28.57% 5M Jun 23, 2023 Class A Subordinate Voting Shares 2M $0.65 Direct F4, F5, F6
transaction FFNTF Stock Option (right to buy) Disposed to Issuer -1.8M -26.51% 5M Jun 23, 2023 Class A Subordinate Voting Shares 1.8M $0.46 Direct F7, F8
transaction FFNTF Stock Option (right to buy) Award +5.3M +106.06% 10.3M Jun 23, 2023 Class A Subordinate Voting Shares 5.3M $0.14 By Philomena Investments, LLC F3, F6, F8, F9, F10
* 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$0.61 using an exchange rate of C$1.3199 = US$1.00 as of June 23, 2023.
F8 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.
F9 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.
F10 The options will vest 1/3rd on December 23, 2023, 1/3rd on June 23, 2024, and 1/3rd on December 23, 2024.