Form 4: Jushi Holdings Director Benjamin Cross Cancels and Regrants Stock Options

Director Benjamin Cross cancels an existing stock option for 80,000 shares and will receive a replacement option for the same amount on or about September 17, 2024, under Jushi Holdings' option regrant program.

Summary

• On August 14, 2024, Jushi Holdings director Benjamin Cross canceled an option for 80,000 subordinate voting shares.
• The option was canceled pursuant to Jushi Holdings' option regrant program.
• Cross will receive a replacement option for 80,000 shares on or about September 17, 2024.
• The original option had an exercise price of $1.93, was granted on July 1, 2023, and was set to expire on July 28, 2032.

Sentiment

Score: 5

Explanation: The document describes a routine stock option regrant, which is neither particularly positive nor negative. It's a standard corporate action.

Future Outlook

The reporting person will receive a replacement option for 80,000 shares on or about September 17, 2024.

Industry Context

Stock option regrant programs are sometimes used by companies to incentivize employees and executives, particularly when the stock price has declined, making existing options less valuable. This is a common practice in various industries, including cannabis.

Stakeholder Impact

• The stock option regrant program may have a minor impact on shareholders by potentially diluting equity if the options are exercised in the future.
• The regrant aims to incentivize the director, which could indirectly benefit the company and its stakeholders.

Next Steps

• The reporting person will receive a replacement option for 80,000 shares on or about September 17, 2024.

Key Dates