Form 4: BLUM HOLDINGS CEO and 10% Owner Increases Stake Through Open Market Purchases

Sabas D. Carrillo, CEO, Director, and 10% owner of BLUM HOLDINGS, INC. (BLMH), has reported multiple open market purchases of the company's common stock in late May 2025.

Summary

• Sabas D. Carrillo, who serves as Chief Executive Officer, Director, and a 10% owner of BLUM HOLDINGS, INC. (BLMH), reported recent transactions.
• On May 21, 2025, Mr. Carrillo purchased 100 shares of common stock at $0.77 per share and an additional 200 shares at $0.84 per share.
• On May 30, 2025, he acquired another 200 shares of common stock at $0.67 per share and 192 shares at $0.70 per share.
• These purchases were made on the open market and were approved by the Board.
• Following these transactions, Mr. Carrillo directly beneficially owns 92,389 shares of common stock.
• He also indirectly beneficially owns 4,932,154 shares of common stock, 3,571,429 shares of Series V Preferred Stock, and 595,238 warrants to purchase common stock through Adnant, LLC, where he is the CEO and managing member.
• Each share of Series V Preferred Stock is convertible into 1/3 of a share of Common Stock at the holder's option after the first anniversary of issuance, and automatically converts on the fourth anniversary.
• The warrants have an exercise price of $0.46, are exercisable from December 30, 2024, and expire on December 31, 2027.

Sentiment

Score: 7

Explanation: The sentiment is positive due to open market purchases of common stock by the CEO, Director, and 10% owner, indicating insider confidence in the company. While the transaction amounts are relatively small, the multiple purchases by a key insider are generally viewed favorably.

Positives

• The Chief Executive Officer, Director, and a 10% owner, Sabas D. Carrillo, made open market purchases of BLMH common stock, signaling confidence in the company's future prospects.
• The purchases were explicitly approved by the Board, indicating alignment and support for the insider's actions.

Future Outlook

This Form 4 filing does not provide forward-looking statements or guidance regarding the company's financial performance or strategic direction, focusing solely on insider transactions and beneficial ownership.

Management Comments

• The reported purchases of common stock were made on the open market pursuant to Board approval.

Industry Context

This document is an insider transaction report (Form 4) and does not provide information on broader industry trends or competitive landscape. It solely details changes in beneficial ownership by a key executive and significant shareholder.

Corporate Governance

Related Party Transactions

• Sabas D. Carrillo, the reporting person, is the CEO and managing member of Adnant, LLC, through which he indirectly holds a significant number of common shares, Series V Preferred Stock, and warrants of BLUM HOLDINGS, INC.

Stakeholder Impact

• Shareholders may view the insider purchases by the CEO and 10% owner as a positive signal, potentially increasing investor confidence in the company's future performance.
• The indirect holdings through Adnant, LLC, highlight the significant alignment of interests between the CEO and the company's long-term success.

Next Steps

• The Series V Preferred Stock held indirectly by the reporting person will become convertible into common stock after its first anniversary of issuance and will automatically convert on its fourth anniversary.
• The warrants held indirectly by the reporting person will be exercisable from December 30, 2024, until their expiration on December 31, 2027.

Key Dates

Keywords

BLUM HOLDINGS, BLMH, Sabas D. Carrillo, SEC Form 4, Insider Trading, Stock Purchase, Common Stock, Series V Preferred Stock, Warrants, Adnant LLC, CEO, Director, 10% Owner