Luis Merchan - Jan 1, 2023 Form 3 Insider Report for Flora Growth Corp. (FLGC)

Role
CEO & Chairman of the Board, Director
Signature
/s/ Matthew Cohen, Attorney-in-Fact for Luis Merchan
Stock symbol
FLGC
Transactions as of
Jan 1, 2023
Transactions value $
$0
Form type
3
Date filed
1/3/2023, 03:10 PM

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding FLGC Common Shares 1.98M Jan 1, 2023 Direct F1, F2

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
holding FLGC Options (Right to Buy) Jan 1, 2023 Common Shares 667K $2.25 Direct F3
holding FLGC Options (Right to Buy) Jan 1, 2023 Common Shares 125K $2.04 Direct F3
holding FLGC Options (Right to Buy) Jan 1, 2023 Common Shares 367K $0.67 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These Common Shares contain restricted share grants to the Reporting Person by the issuer as further described in footnote (2) below.
F2 The Common Shares reported include the following Restricted Common Shares (i) 102,040 shares which vest on July 5, 2023, (ii) 328,358 shares which vest on July 5, 2024 and (iii) 468,085 shares which vest on July 5, 2025.
F3 These options are immediately exercisable.
F4 These options shall vest if (i) the total shareholder return of the Issuer's Common Shares on the Nasdaq Capital Market exceeds the total shareholder return on the ETFMG Alternative Harvest ETF for the 12 months ended December 31, 2023, which shall be measured on December 31, 2023 or (ii) the total shareholder return of the Issuer's Common Shares on the Nasdaq Capital Market exceeds the total shareholder return on the ETFMG Alternative Harvest ETF for the 12 months ended December 31, 2024, which shall be measured on December 31, 2024.