Form 4: Green Thumb President Sells Super Voting Shares

Green Thumb Industries President Anthony Georgiadis reported the sale of 2,500 Super Voting Shares at $798.80 per share.

Summary

• Anthony Georgiadis, President and Director of Green Thumb Industries Inc., reported a transaction involving the company's securities.
• The transaction was a sale of 2,500 Super Voting Shares.
• The sale occurred on December 28, 2025, at a price of $798.80 per Super Voting Share.
• This price was determined based on $7.988 per underlying Subordinate Voting Share.
• The transaction was made pursuant to a Rule 10b5-1(c) plan.
• Following the transaction, Georgiadis directly holds 35,182 Super Voting Shares and 760,576 Subordinate Voting Shares.
• Indirect holdings include 1,589 Super Voting Shares and 18,364 Subordinate Voting Shares via ABG LLC, and 1,333 Super Voting Shares and 1,728 Subordinate Voting Shares via Three One Four Holdings LLC.

Sentiment

Score: 4

Explanation: The sale by a key executive is a slight negative signal, but its execution under a 10b5-1 plan mitigates concerns about discretionary selling based on adverse non-public information. The amount sold is also relatively small compared to total holdings.

Positives

• The transaction was executed under a Rule 10b5-1 plan, indicating a pre-scheduled sale rather than a discretionary one based on new, non-public information.
• The sale price of $798.80 per Super Voting Share (equivalent to $7.988 per Subordinate Voting Share) represents a significant valuation for the shares.

Negatives

• An insider sale by a President and Director, even if pre-planned, can sometimes be perceived as a slight negative signal regarding management's confidence in the near-term stock price.

Future Outlook

NA

Industry Context

This insider transaction for Green Thumb Industries Inc., a prominent player in the cannabis industry, is a company-specific event. While insider sales are common across all sectors, activity in the evolving cannabis market is often scrutinized for broader sentiment. This particular sale, being pre-planned, is less indicative of immediate industry-wide shifts.

Related Party Transactions

• Indirect beneficial ownership through ABG LLC and Three One Four Holdings LLC is noted, indicating entities potentially controlled by the reporting person.

Stakeholder Impact

• Shareholders may interpret the insider sale as a minor negative signal, potentially influencing short-term sentiment, though the 10b5-1 plan context reduces this impact.
• Employees, customers, suppliers, and creditors are unlikely to be directly impacted by this specific insider transaction.

Key Dates

Recommendation

While an insider sale by the President could be a minor negative, the transaction was executed under a Rule 10b5-1 plan, suggesting it was pre-scheduled and not based on new, adverse information. The amount sold is also a small fraction of the insider's total holdings. Without additional context on company performance or broader market trends, this single transaction does not warrant a change from a 'hold' position.

Keywords

Green Thumb Industries, GTII, GTBIF, Anthony Georgiadis, Insider Trading, Form 4, Super Voting Shares, Subordinate Voting Shares, Stock Sale, Officer Transaction, Director Transaction, 10b5-1 Plan