Kelly McMillin - 08 May 2021 Form 3 Insider Report for Lowell Farms Inc. (LOWLF)

Role
Chief Compliance Officer
Signature
/s/ Kelly McMillin
Issuer symbol
LOWLF
Transactions as of
08 May 2021
Net transactions value
$0
Form type
3
Filing time
12 May 2021, 11:26:46 UTC
Next filing
04 Jan 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding LOWLF Subordinate Voting Shares 2,308 08 May 2021 Direct

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 LOWLF Restricted Stock Units 08 May 2021 Subordinate Voting Shares 25,000 Direct F1, F2
holding LOWLF Stock options (right to buy) 08 May 2021 Subordinate Voting Shares 75,000 $2.03 Direct F3
holding LOWLF Stock options (right to buy) 08 May 2021 Subordinate Voting Shares 30,000 $0.8500 Direct F4
holding LOWLF Class B Common Shares of Indus Holding Company 08 May 2021 Subordinate Voting Shares 25,000 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The restricted stock units vest in three equal annual installments beginning on January 1, 2022.
F2 Each restricted stock unit represents a contingent right to receive one Subordinate Voting Share on the applicable vesting date.
F3 75% of the options are vested and exercisable as of the date of this Form 3. The remainder of the options vest and become exercisable on October 16, 2021.
F4 25% of the options are vested and exercisable as of the date of this Form 3. The remainder of the options vest and become exercisable in 3 equal annual installments beginning on January 1, 2022.
F5 The Class B Common Shares of Indus Holding Company may be redeemed at the option of the reporting person for Subordinate Voting Shares of the issuer on a one-for-one basis or, at the option of Indus Holding Company, for the cash equivalent of such Subordinate Voting Shares, as determined in accordance with the certificate of incorporation of Indus Holding Company.