Timothy Alan Conder - Jun 30, 2024 Form 4 Insider Report for TILT Holdings Inc. (TLLTF)

Role
Chief Executive Officer, Director
Signature
/s/ Mark Higgins as attorney-in-fact for Timothy Alan Conder
Stock symbol
TLLTF
Transactions as of
Jun 30, 2024
Transactions value $
-$4,117
Form type
4
Date filed
7/2/2024, 04:01 PM
Previous filing
Apr 23, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TLLTF Common Shares, no par value Options Exercise $0 +667K +45.39% $0.00 2.14M Jun 30, 2024 Direct F1, F2
transaction TLLTF Common Shares, no par value Tax liability -$4.12K -188K -8.8% $0.02 1.95M Jun 30, 2024 Direct F3, F4

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 TLLTF Performance stock units Options Exercise $0 -667K -100% $0.00* 0 Jun 30, 2024 Common Shares, no par value 667K Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 2,000,000 performance stock units ("PSUs") were granted on September 26, 2023. Each PSU represented a contingent right to receive one common share of the Company, of which 1,000,000 were subject to the achievement of certain performance criteria during the performance period ended December 31, 2023, as approved by the Issuer's Board of Directors. On April 19, 2024, the Board of Directors of the Issuer determined that the Reporting Person satisfied certain performance metrics to which the PSUs were subject and as a result the Reporting Person earned 666,666 PSUs for the performance period ended December 31, 2023. The common shares underlying the PSUs vested on June 30, 2024. The remaining 333,000 PSUs for the performance period ended December 31, 2023 were cancelled.
F2 PSUs convert into common stock on a one-for-one basis.
F3 Represents common shares that have been withheld by the Issuer to satisfy its income tax withholding and remittance obligations in connection with the vesting and net settlement of PSUs and does not represent a sale by the Reporting Person.
F4 The price provided in this column was calculated based on the closing price of the Issuer's common shares on Cboe Canada formerly known as the NEO Exchange on June 28, 2024 which was CAD$0.03. The share price of CAD$0.03 was converted to U.S. dollars using the exchange rate provided by the Bank of Canada of USD$1.00= CAD$1.3687 on June 28, 2024.