James Miller - 31 Dec 2024 Form 5 Insider Report for BLUM HOLDINGS, INC. (BLMH)

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	BLMH	Series V Preferred Stock	Other		0	0%		357,143	30 Dec 2024	Common Stock	119,048		Direct	F1, F2, F3
transaction	BLMH	Warrants to Purchase Common Stock	Disposed to Issuer	$0	-17,857	-100%	$0.000000	0	30 Dec 2024	Common Stock	0	$2.80	Direct	F4
transaction	BLMH	Warrants to Purchase Common Stock	Award	$0	+59,524		$0.000000	59,524	30 Dec 2024	Common Stock	59,524	$0.4600	Direct	F4

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

Id	Content
F1	Not applicable. See footnote 2.
F2	Reporting Person holds 357,143 shares of Series V Preferred Stock ("Series V Stock") and is reporting herein a change in the conversion ratio of such stock to common stock only. Effective December 30, 2024, Issuer amended the certificate of designation of its Series V Stock pursuant to which each share of Series V Stock (a) became convertible into 1/3 of a share of common stock, (b) will automatically be converted to common stock on the fourth anniversary of the date of issuance, and (c) prior to such anniversary, the holder is entitled to convert shares of Series V Stock upon written notice. Issuer and Reporting Person entered into an amendment to the Series V Stock purchase agreement in connection therewith.
F3	See footnote 2.
F4	These two warrants transactions involved an amendment of outstanding warrants to purchase common stoc), resulting in the cancellation of the old warrant and the grant of a replacement warrant.