David Spreckman - Mar 7, 2023 Form 4 Insider Report for Verano Holdings Corp. (VRNOF)

Role: EVP, Marketing
Signature: Jacob M. Phillips, Attorney-in-Fact
Stock symbol: VRNOF
Transactions as of: Mar 7, 2023
Transactions value $: $2,185
Form type: 4
Date filed: 3/9/2023, 02:23 PM
Previous filing: Aug 21, 2023
Next filing: Mar 13, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VRNOF	Class A Subordinate Voting Shares	Options Exercise	$2.19K	+650	+23.46%	$3.36	3.42K	Mar 7, 2023	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	VRNOF	Restricted Stock Units	Options Exercise	$0	-6.5	-100%	$0.00^*	0	Mar 7, 2023	Class B Proportionate Voting Shares	6.5	$0.00	Direct	F2, F3, F4

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

Explanation of Responses:

Id	Content
F1	This transaction represents the settlement of vested restricted stock units into Class A Subordinate Voting Shares.
F2	The restricted stock units were granted under the Verano Holdings Corp. Stock and Incentive Plan on February 23, 2021. Each restricted stock unit reflects a contingent right to receive one Class B Proportionate Voting Share.
F3	The restricted stock units vest 25% on each of the 12-, 18-, 24- and 30-month anniversaries of the date of grant.
F4	Class A Subordinate Voting Shares may be issued in lieu of Class B Proportionate Voting Shares, on an as-converted basis of 100: 1, at the discretion of the compensation committee of the board of directors.