Jacques Tortoroli - Dec 31, 2022 Form 4 Insider Report for Charlotte's Web Holdings, Inc. (CWBHF)

Role: Chief Executive Officer, Director
Signature: /s/ Stephen D. Rogers, Attorney in Fact for Jacques Tortoroli
Stock symbol: CWBHF
Transactions as of: Dec 31, 2022
Transactions value $: $148,815
Form type: 4
Date filed: 1/4/2023, 01:47 PM
Previous filing: Dec 20, 2022
Next filing: Feb 14, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CWBHF	Common Shares	Options Exercise	$220K	+425K	+202.31%	$0.52	635K	Dec 31, 2022	Direct	F1
transaction	CWBHF	Common Shares	Tax liability	-$71.5K	-138K	-21.71%	$0.52	497K	Dec 31, 2022	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	CWBHF	Restricted Stock Unit	Options Exercise	$0	-425K	-50%	$0.00	425K	Dec 31, 2022	Common Shares	425K		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each restricted stock unit represents a contingent right to receive one common share of Charlotte's Web Holdings, Inc.
F2	The restricted stock unit agreement provides that the restricted stock unit vests in 2 equal annual installments beginning on 12/31/2022. The restricted stock unit was granted on 8/2/2022.