Timothy Shaw - Apr 27, 2023 Form 4 Insider Report for MARIMED INC. (MRMD)

Role
Chief Operating Officer
Signature
/s/ Timothy Shaw
Stock symbol
MRMD
Transactions as of
Apr 27, 2023
Transactions value $
-$14,481
Form type
4
Date filed
5/1/2023, 08:16 PM
Previous filing
Mar 14, 2023
Next filing
Sep 6, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MRMD Common stock Options Exercise +111K +1.34% 8.41M Apr 27, 2023 Direct F1
transaction MRMD Common stock Sale -$14.5K -39.4K -0.47% $0.37 8.37M Apr 28, 2023 Direct F2
holding MRMD Common stock 2M Apr 27, 2023 By the Shaw Family Trust F3

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 MRMD Restricted Stock Units (RSU) Options Exercise $0 -111K -16.67% $0.00 556K Apr 27, 2023 Common Stock, par value $.001 per share 111K Direct F1, F4
holding MRMD Restricted Stock Units (RSU) 130K Apr 27, 2023 Common Stock, par value $.001 per share 130K Direct F1, F5
holding MRMD Option to buy common stock 1.25M Apr 27, 2023 Common Stock, par value $.001 per share 1.25M $0.90 Direct F6
holding MRMD Option to buy common stock 1.25M Apr 27, 2023 Common Stock, par value $.001 per share 1.25M $0.88 Direct F6
holding MRMD Option to buy common stock 50K Apr 27, 2023 Common Stock, par value $.001 per share 50K $0.30 Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 RSUs convert to common stock on a one-for-one basis.
F2 Reflects common stock sold pursuant to a rule 10b5-1 instruction letter previously adopted by the Reporting Person to satisfy tax withholding obligations in connection with RSUs.
F3 The reporting person's spouse is the trustee of the trust and the shares held in the trust are for the benefit of the reporting person's children. The trust is an irrevocable trust. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
F4 The RSUs vest over a three year period in equal one-sixth installments every six months following the October 27, 2022 grant date, in accordance with the terms of an award agreement between the Issuer and the Reporting Person.
F5 The RSUs vest over a three year period of which 43,333 RSUs will vest on March 7, 2024 and thereafter, 21,667 RSUs will vest every succeeding six (6) months through March 7, 2025, on each of September 7 and March 7, in accordance with the terms of an award agreement between the Issuer and the Reporting Person.
F6 Immediately