Jason M. Adler - Mar 16, 2022 Form 4 Insider Report for Cronos Group Inc. (CRON)

Role
Director
Signature
/s/ Aaron Werner, as attorney-in-fact for Jason M. Adler
Stock symbol
CRON
Transactions as of
Mar 16, 2022
Transactions value $
-$1
Form type
4
Date filed
3/18/2022, 01:18 PM
Previous filing
Aug 11, 2021
Next filing
Aug 23, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CRON COMMON SHARES Options Exercise $4.08M +1.3M +15.92% $3.14 9.47M Mar 16, 2022 Direct F1
transaction CRON COMMON SHARES Tax liability -$4.08M -1.03M -10.92% $3.95 8.43M Mar 16, 2022 Direct F1, F2
holding CRON COMMON SHARES 2.01M Mar 16, 2022 Held by Gotham Green Fund 1(Q), LP F3
holding CRON COMMON SHARES 1.23M Mar 16, 2022 By the Rachel Adler 2020 Gift Trust
holding CRON COMMON SHARES 503K Mar 16, 2022 Held by Gotham Green Fund 1, LP F4

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 CRON COMMON SHARE OPTION (right to buy) Options Exercise $0 -1.3M -100% $0.00* 0 Mar 16, 2022 COMMON SHARES 1.3M $3.14 Direct F1, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Price is expressed in Canadian dollars.
F2 Cronos Group Inc. (the "Company") withheld 1,033,418 common shares underlying the options for payment of the exercise price, using the closing price of the Company's common shares on March 15, 2022 of C$3.95 as reported on the Toronto Stock Exchange.
F3 Gotham Green GP 1, LLC is the general partner of Gotham Green Fund 1(Q), LP. Mr. Adler, as the Managing Member of Gotham Green GP 1, LLC, may be deemed to be the indirect beneficial owner of such shares for purposes of Section 16 of the Exchange Act. Mr. Adler disclaims that he is the beneficial owner of such shares, except to the extent of his pecuniary interest.
F4 Gotham Green GP 1, LLC is the general partner of Gotham Green Fund 1, LP. Mr. Adler, as the Managing Member of Gotham Green GP 1, LLC, may be deemed to be the indirect beneficial owner of such shares for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Mr. Adler disclaims that he is the beneficial owner of such shares, except to the extent of his pecuniary interest.
F5 The options were granted April 12, 2017 and vest in monthly installments over a four-year period.