Nicholas Kovacevich - Aug 31, 2021 Form 4 Insider Report for Greenlane Holdings, Inc. (GNLN)

Role
Chief Executive Officer, Director
Signature
/s/ Douglas Fischer, as attorney-in-fact for Nicholas Kovacevich
Stock symbol
GNLN
Transactions as of
Aug 31, 2021
Transactions value $
$0
Form type
4
Date filed
9/2/2021, 07:16 PM
Previous filing
Jul 13, 2021
Next filing
Sep 9, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GNLN Class A Common Stock Award +1.59M 1.59M Aug 31, 2021 Direct F1, F2
transaction GNLN Class A Common Stock Award +1.21M 1.21M Aug 31, 2021 By Trust F2, F3, F4
transaction GNLN Class A Common Stock Gift $0 -300K -18.83% $0.00 1.29M Sep 2, 2021 Direct F5

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 GNLN Option to Purchase Award $0 +25.1K $0.00 25.1K Aug 31, 2021 Class A Common Stock 25.1K $4.41 Direct F6
transaction GNLN Option to Purchase Award $0 +151K $0.00 151K Aug 31, 2021 Class A Common Stock 151K $2.09 Direct F7
transaction GNLN Option to Purchase Award $0 +9.05K $0.00 9.05K Aug 31, 2021 Class A Common Stock 9.05K $2.09 Direct F8
transaction GNLN Option to Purchase Award $0 +22.6K $0.00 22.6K Aug 31, 2021 Class A Common Stock 22.6K $2.09 Direct F9
transaction GNLN Option to Purchase Award $0 +79.9K $0.00 79.9K Aug 31, 2021 Class A Common Stock 79.9K $2.09 Direct F10
transaction GNLN Option to Purchase Award $0 +30.2K $0.00 30.2K Aug 31, 2021 Class A Common Stock 30.2K $1.93 Direct F11
transaction GNLN Option to Purchase Award $0 +29.5K $0.00 29.5K Aug 31, 2021 Class A Common Stock 29.5K $2.62 Direct F12
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Received in exchange for 5,282,533 shares of common stock of KushCo Holdings, Inc. ("KushCo") pursuant to the Agreement and Plan of Merger, dated as of March 31, 2021, by and among Greenlane Holdings, Inc. ("Greenlane"), Merger Sub Gotham 1, LLC, Merger Sub Gotham 2, LLC and KushCo (the "Merger Agreement"). This number includes 100,582 restricted stock units ("RSUs") that accelerated and vested in full pursuant to the Merger Agreement. Upon the closing of the transactions contemplated by the Merger Agreement, each share of KushCo common stock and each KushCo RSU that became fully earned and vested upon closing of the transaction contemplated by the Merger Agreement was converted into the right to receive 0.3016 shares of Greenlane Class A common stock.
F2 On the date immediately prior to the effective time of the merger, the closing price of Greenlane's Class A common stock was $2.61 per share and the closing price of KushCo's common stock was $0.694 per share
F3 Received in exchange for 4,000,000 shares of KushCo common stock pursuant to the Merger Agreement. Upon the closing of the transactions contemplated by the Merger Agreement, each share of KushCo common stock that became fully earned and vested upon closing of the transaction contemplated by the Merger Agreement was converted into the right to receive 0.3016 shares of Greenlane Class A common stock.
F4 These shares are held in trusts for the benefit of the Reporting Person and the Reporting Person's spouse. The Reporting Person held investment control over all shares held by such trusts until September 2, 2021, on which date investment control over one of the trusts that owns 506,688 shares of Greenlane Class A common stock was transferred to an independent investment advisor. As a result, the Reporting Person no longer has beneficial ownership of such shares and the shares will not be included in the Reporting Person's future Section 16 reports. The Reporting Person retains investment control over the remaining 699,712 shares of Greenlane Class A common stock held in trusts.
F5 The Reporting Person transferred these shares of Greenlane Class A common stock to a trust for the benefit of the Reporting Person's family members, over which the Reporting Person has no pecuniary interest or investment control.
F6 Received in exchange for options to purchase 83,333 shares of KushCo common stock at an exercise price of $1.33 per share pursuant to the Merger Agreement. Upon the closing of the transactions contemplated by the Merger Agreement, each option to purchase shares of KushCo common stock was converted into an option exercisable for 0.3016 shares of Greenlane Class A common stock. These options had fully vested prior to the closing of the transactions contemplated by the Merger Agreement.
F7 Received in exchange for options to purchase 500,000 shares of KushCo common stock at an exercise price of $0.63 per share pursuant to the Merger Agreement. Upon the closing of the transactions contemplated by the Merger Agreement, each option to purchase shares of KushCo common stock was converted into an option exercisable for 0.3016 shares of Greenlane Class A common stock. These options had fully vested prior to the closing of the transactions contemplated by the Merger Agreement.
F8 Received in exchange for options to purchase 30,000 shares of KushCo common stock at an exercise price of $0.63 per share pursuant to the Merger Agreement. Upon the closing of the transactions contemplated by the Merger Agreement, each option to purchase shares of KushCo common stock that became fully earned and vested upon closing of the transactions contemplated by the Merger Agreement was converted into an option exercisable for 0.3016 shares of Greenlane Class A common stock.
F9 Received in exchange for options to purchase 75,000 shares of KushCo common stock at an exercise price of $0.63 per share pursuant to the Merger Agreement. Upon the closing of the transactions contemplated by the Merger Agreement, each option to purchase shares of KushCo common stock that became fully earned and vested upon closing of the transactions contemplated by the Merger Agreement was converted into an option exercisable for 0.3016 shares of Greenlane Class A common stock.
F10 Received in exchange for options to purchase 265,000 shares of KushCo common stock at an exercise price of $0.63 per share pursuant to the Merger Agreement. Upon the closing of the transactions contemplated by the Merger Agreement, each option to purchase shares of KushCo common stock that became fully earned and vested upon closing of the transactions contemplated by the Merger Agreement was converted into an option exercisable for 0.3016 shares of Greenlane Class A common stock.
F11 Received in exchange for options to purchase 100,000 shares of KushCo common stock at an exercise price of $0.58 per share pursuant to the Merger Agreement. Upon the closing of the transactions contemplated by the Merger Agreement, each option to purchase shares of KushCo common stock was converted into an option exercisable for 0.3016 shares of Greenlane Class A common stock. These options had fully vested prior to the closing of the transactions contemplated by the Merger Agreement.
F12 Received in exchange for options to purchase 97,761 shares of KushCo common stock at an exercise price of $0.79 per share pursuant to the Merger Agreement. Upon the closing of the transactions contemplated by the Merger Agreement, each option to purchase shares of KushCo common stock was converted into an option exercisable for 0.3016 shares of Greenlane Class A common stock. These options had fully vested prior to the closing of the transactions contemplated by the Merger Agreement.