Paris Balaouras - Dec 31, 2020 Form 5 Insider Report for MJ Holdings, Inc. (MJNE)

Role: Chief Cultivation Officer, Director, 10%+ Owner
Signature: /s/ Paris Balaouras
Stock symbol: MJNE
Transactions as of: Dec 31, 2020
Transactions value $: $375,000
Form type: 5
Date filed: 6/9/2021, 03:14 PM
Next filing: Sep 15, 2021

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	MJNE	Stock option	Award	$375K	+500K		$0.75^*	500K	Sep 15, 2020	Common stock	500K	$0.75	Direct	F1

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

Explanation of Responses:

Id	Content
F1	Explanation of Responses: (1) On September 15, 2020, Mr. Balaouras was granted an option to purchase 500,000 shares of the Company's common stock as per the terms of his Employment Agreement (the "Agreement"). The option has an exercise price of $0.75 and expires on the three-year anniversary date of the Agreement. 250,000 shares vested upon execution of the Agreement and 250,000 shares vest at the one-year anniversary of the Agreement.

Content

Explanation of Responses: (1) On September 15, 2020, Mr. Balaouras was granted an option to purchase 500,000 shares of the Company's common stock as per the terms of his Employment Agreement (the "Agreement"). The option has an exercise price of $0.75 and expires on the three-year anniversary date of the Agreement. 250,000 shares vested upon execution of the Agreement and 250,000 shares vest at the one-year anniversary of the Agreement.