Mark L. Ainsworth - 23 Dec 2022 Form 4 Insider Report for Lowell Farms Inc. (LOWLF)

Role
Chief Executive Officer, Director
Signature
/s/ Mark Ainsworth
Issuer symbol
LOWLF
Transactions as of
23 Dec 2022
Net transactions value
-$2,833
Form type
4
Filing time
29 Dec 2022, 18:24:25 UTC
Previous filing
18 Jan 2022
Next filing
15 Aug 2023
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 +33,333 +7.4% $0.000000 483,333 23 Dec 2022 Direct
transaction LOWLF Subordinate Voting Shares Tax liability $2,833 -33,333 -6.9% $0.0850 450,000 23 Dec 2022 Direct F1

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 -33,333 -50% $0.000000 33,334 23 Dec 2022 Subordinate Voting Shares 33,333 Direct F2, F3
transaction LOWLF Stock Options (right to buy) Award $0 +75,000 $0.000000 75,000 23 Dec 2022 Subordinate Voting Shares 75,000 $0.0850 Direct F4
transaction LOWLF Stock Options (right to buy) Award $0 +150,000 $0.000000 150,000 23 Dec 2022 Subordinate Voting Shares 150,000 $0.0850 Direct F5
holding LOWLF Stock Options (right to buy) 125,000 23 Dec 2022 Subordinate Voting Shares 125,000 $0.3077 Direct F6
holding LOWLF Stock Options (right to buy) 75,000 23 Dec 2022 Subordinate Voting Shares 75,000 $0.3077 Direct F7
holding LOWLF Stock Options (right to buy) 50,000 23 Dec 2022 Subordinate Voting Shares 50,000 $0.8500 Direct F8
holding LOWLF Stock Options (right to buy) 500,000 23 Dec 2022 Subordinate Voting Shares 500,000 $0.3460 Direct F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 No shares were sold by the Reporting Person. These shares were withheld by the Issuer to fund tax liability attributable to the vesting and settlement of the Restricted Stock Units ("RSUs") reported on this Form 4. These RSUs vested and were settled on December 23, 2022, and there were no related discretionary transactions or open market sales.
F2 Each RSU represents a contingent right to receive one Subordinate Voting Share on the vesting date.
F3 The RSUs vest in three equal annual installments beginning on December 23, 2021.
F4 25% of the options vest and become exercisable at the end of each calendar quarter in 2023.
F5 25% of the options vest and become exercisable on each of the first four anniversaries of the date of grant.
F6 25% of the options vest and become exercisable on each of the first four anniversaries of the date of grant.
F7 25% of the options vest and become exercisable at the end of each calendar quarter in 2022.
F8 25% of the options were vested and exercisable as of the date of this reporting person's Form 3. The remainder of the options vest and become exercise in three equal annual installments beginning on January 1, 2022.
F9 25% of the options were vested and exercisable as of the date of this reporting person's Form 3. The remainder of the options vest and become exercisable in three equal annual installments beginning on April 15, 2022.