Hussein Rakine - Jun 25, 2023 Form 4 Insider Report for Flora Growth Corp. (FLGC)

Role
Director
Signature
/s/ Matthew Cohen, Attorney-in-Fact
Stock symbol
FLGC
Transactions as of
Jun 25, 2023
Transactions value $
$0
Form type
4
Date filed
6/27/2023, 09:46 PM
Previous filing
Apr 26, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FLGC Common Shares Disposed to Issuer $0 -82.1K -97.04% $0.00 2.5K Jun 25, 2023 Direct F1, F2
holding FLGC Common Shares 346K Jun 25, 2023 See Footnote F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On June 9, 2023, Flora Growth Corp. (the "Company") effectuated a 1-for-20 reverse stock split of its common shares. The amounts presented in this Form 4 reflect the effect of the reverse stock split on Reporting Person's holdings.
F2 On June 25, 2023, the Reporting Person resigned as the Chief Executive Officer of the Company. In connection with the Reporting Person's resignation, the Reporting Person entered into a Separation and Release Agreement with the Company, which provided for the forfeiture of 82,100 restricted common shares held by the Reporting Person upon his resignation as Chief Executive Officer.
F3 These shares are held by ASH Group of Florida LLC ("ASH Group"). Voting and dispositive power over the shares held by ASH Group is held by Ash Group's board of directors, which is comprised of Ali Rakine, Hussein Rakine, Hassan Rakine and Solhail Mitha. The Reporting Person disclaims beneficial ownership of all shares owned by Ash Group, except to the extent of his pecuniary interest therein.