Martin A. Sumichrast - Jan 1, 2022 Form 4 Insider Report for cbdMD, Inc. (YCBD)

Role
Chairman & CO-CEO, Director
Signature
/s/ Martin A. Sumichrast
Stock symbol
YCBD
Transactions as of
Jan 1, 2022
Transactions value $
$0
Form type
4
Date filed
1/3/2022, 07:23 PM
Previous filing
Dec 30, 2021
Next filing
Mar 2, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction YCBD Common Stock Options Exercise +250K 250K Jan 1, 2022 Direct F1
holding YCBD Common Stock 1.81M Jan 1, 2022 See Footnote F2

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 YCBD Restricted Stock Units Options Exercise $0 -250K -100% $0.00* 0 Jan 1, 2022 Common Stock 250K Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares of common stock issued upon vesting of restricted stock units on January 1, 2022.
F2 Includes 250,000 shares of common stock that are held directly by the Reporting Person and 1,563,272 shares of common stock that are held of record by the Sumichrast 2017 Family Trust ("Family Trust"). The Reporting Person has the sole power to dispose of the shares of common stock held of record by the Family Trust. The Reporting Person has the sole right to vote 1,169,522 shares of common stock held by the Family Trust and the balance of 393,750 shares are subject to the terms of a Voting Trust Agreement dated February 26, 2020 between the Issuer and the Family Trust pursuant to which until such time as the unrestricted voting rights to these shares have vested, the voting rights to such shares are held by the independent chairman of the Audit Committee of the Issuer's board of directors who will vote such shares on any matter brought before the Issuer's shareholders in accordance with the recommendation of its board of directors. The voting rights to the 393,750 shares vest in equal portions on each of June 20, 2022 and December 20, 2023. The Reporting Person disclaims beneficial ownership of the securities held of record by the Family Trust except to the extent of his pecuniary interest therein.
F3 Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock.
F4 The restricted stock units were granted on April 19, 2021 and vested on January 1, 2022.