Mark Ainsworth - May 8, 2021 Form 3 Insider Report for Lowell Farms Inc. (LOWLF)

Role: Chief Executive Officer, Director
Signature: /s/ Mark Ainsworth
Stock symbol: LOWLF
Transactions as of: May 8, 2021
Transactions value $: $0
Form type: 3
Date filed: 5/14/2021, 11:21 AM
Next filing: Jan 5, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	LOWLF	Subordinate Voting Shares						450K	May 8, 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	Stock options (right to buy)							May 8, 2021	Subordinate Voting Shares	50K	$0.85	Direct	F1
holding	LOWLF	Stock options (right to buy)							May 8, 2021	Subordinate Voting Shares	500K	$0.35	Direct	F2
holding	LOWLF	Restricted Stock Units							May 8, 2021	Subordinate Voting Shares	100K		Direct	F3, F4
holding	LOWLF	Class B Common Shares of Indus Holding Company							May 8, 2021	Subordinate Voting Shares	1.02M		Direct	F5

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

Explanation of Responses:

Id	Content
F1	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.
F2	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 April 15, 2022.
F3	The restricted stock units vest in three equal annual installments beginning on January 1, 2022.
F4	Each restricted stock unit represents a contingent right to receive one Subordinate Voting Share on the applicable vesting date.
F5	Class B Common Shares of Indus Holding Company may be redeemed at the option of the holder 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. Class B Common Shares may be redeemed at any time and have no expiration date.