David Largey - Jul 10, 2021 Form 4 Insider Report for SunOpta Inc. (STKL)

Role: Chief Quality Officer
Signature: /s/ Jill Barnett, attorney-in-fact
Stock symbol: STKL
Transactions as of: Jul 10, 2021
Transactions value $: -$21,331
Form type: 4
Date filed: 7/13/2021, 08:42 PM
Previous filing: May 20, 2021
Next filing: Apr 5, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	STKL	Common Shares	Options Exercise		+4.04K	+6.17%		69.6K	Jul 10, 2021	Direct	F1
transaction	STKL	Common Shares	Tax liability	-$17.1K	-1.38K	-1.99%	$12.33	68.2K	Jul 10, 2021	Direct	F2
transaction	STKL	Common Shares	Options Exercise		+1.01K	+1.48%		69.3K	Jul 10, 2021	Direct	F3
transaction	STKL	Common Shares	Tax liability	-$4.27K	-346	-0.5%	$12.33	68.9K	Jul 10, 2021	Direct	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	STKL	Performance Stock Units	Options Exercise	$0	-4.04K	-33.34%	$0.00	8.09K	Jul 10, 2021	Common Shares	4.04K		Direct	F1, F5, F6
transaction	STKL	Restricted Stock Units	Options Exercise	$0	-1.01K	-33.33%	$0.00	2.02K	Jul 10, 2021	Common Shares	1.01K		Direct	F3, F7, F8

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each Performance Stock Unit represents a contingent right to receive one share of STKL common stock.
F2	This line item reflects the deemed disposition of shares withheld by the Company to satisfy income tax withholding requirements in connection with the vesting of the PSUs.
F3	Each Restricted Stock Unit represents a contingent right to receive one share of STKL common stock.
F4	This line item reflects the deemed disposition of shares withheld by the Company to satisfy income tax withholding requirements in connection with the vesting of the RSUs.
F5	The reporting person was granted performance stock units (the "Performance Units") on July 10, 2020. The vesting of the Performance Units is subject to the satisfaction of certain fiscal year EBITDA achieved during the period commencing on the grant date and ending on December 31, 2022 (the "Performance Period"). For the EBITDA performance conditions, 1/3 of the Performance Units will vest upon the Company achieving annual adjusted EBITDA of $80,000,000, another 1/3 will vest upon the Company achieving annual adjusted EBITDA of $100,000,000, and the final 1/3 will vest upon the Company achieving annual adjusted EBITDA of $110,000,000 during the Performance Period, and subject to continued employment through the end of the fiscal year the EBITDA performance condition is achieved.
F6	The Performance Stock Units do not have an expiration date.
F7	The Restricted Stock Units vest in three equal annual installments beginning on July 10, 2021, subject to the continued employment of the reporting person through each such vesting date.
F8	The Restricted Stock Units do not have an expiration date.