Kevin Francis McGrath - 31 Dec 2021 Form 4 Insider Report for Lowell Farms Inc. (LOWLF)

Role
Director
Signature
/s/ Kevin McGrath
Issuer symbol
LOWLF
Transactions as of
31 Dec 2021
Net transactions value
$0
Form type
4
Filing time
04 Jan 2022, 20:34:22 UTC
Previous filing
11 May 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LOWLF Subordinate Voting Shares Options Exercise $0 +75,000 +11% $0.000000 763,000 31 Dec 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
transaction LOWLF Restricted Stock Units Options Exercise $0 -75,000 -100% $0.000000* 0 31 Dec 2021 Subordinate Voting Shares 75,000 Direct F1, F2
holding LOWLF Convertible Debenture of Indus Holdings Company 5,015,984 31 Dec 2021 Subordinate Voting Shares 5,015,984 $0.2000 Direct F3, F4
holding LOWLF Warrants (right to buy) 5,015,984 31 Dec 2021 Subordinate Voting Shares 5,015,984 $0.2800 Direct
holding LOWLF Warrants (right to buy) 135,000 31 Dec 2021 Subordinate Voting Shares 135,000 $1.81 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each Restricted Stock Unit ("RSU") represents a contingent right to receive one Subordinate Voting Share on the vesting date.
F2 The RSUs vested on December 31, 2021.
F3 The principal amount of the Convertible Debenture is convertible into Class C Common Shares of Indus Holding Company ("Class C Common Shares"). Class C Common Shares may be redeemed at the option of the holder for Subordinate Voting Shares of the issuer on a one-for-one basis in accordance with the certificate of incorporation of Indus Holding Company. Class C Common Shares may be redeemed at any time and have no expiration date.
F4 Interest accrues on the Convertible Debenture and is payable quarterly in arrears; any accrued and unpaid interest at the time of conversion of the Convertible Debenture is convertible into additional Class C Common Shares at $0.20 per share.
F5 The exercise price was converted from $2.20 CAD using the closing rate of exchange of the Bank of Canada on May 7, 2021. The actual exercise price is the Canadian dollar amount regardless of the exchange rate on the date of exercise.