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

Role
Chief Executive Officer, Director
Signature
/s/ Mark Ainsworth
Stock symbol
LOWLF
Transactions as of
Dec 23, 2022
Transactions value $
-$2,833
Form type
4
Date filed
12/29/2022, 06:24 PM
Previous filing
Jan 18, 2022
Next filing
Aug 15, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LOWLF Subordinate Voting Shares Options Exercise $0 +33.3K +7.41% $0.00 483K Dec 23, 2022 Direct
transaction LOWLF Subordinate Voting Shares Tax liability -$2.83K -33.3K -6.9% $0.09 450K Dec 23, 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 -33.3K -50% $0.00 33.3K Dec 23, 2022 Subordinate Voting Shares 33.3K Direct F2, F3
transaction LOWLF Stock Options (right to buy) Award $0 +75K $0.00 75K Dec 23, 2022 Subordinate Voting Shares 75K $0.09 Direct F4
transaction LOWLF Stock Options (right to buy) Award $0 +150K $0.00 150K Dec 23, 2022 Subordinate Voting Shares 150K $0.09 Direct F5
holding LOWLF Stock Options (right to buy) 125K Dec 23, 2022 Subordinate Voting Shares 125K $0.31 Direct F6
holding LOWLF Stock Options (right to buy) 75K Dec 23, 2022 Subordinate Voting Shares 75K $0.31 Direct F7
holding LOWLF Stock Options (right to buy) 50K Dec 23, 2022 Subordinate Voting Shares 50K $0.85 Direct F8
holding LOWLF Stock Options (right to buy) 500K Dec 23, 2022 Subordinate Voting Shares 500K $0.35 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.