Form 4: Jushi Holdings Inc. Executive Cancels and Regrants Stock Options

Tobi Lebowitz, Chief Legal Officer and Secretary of Jushi Holdings Inc., canceled existing stock options and will receive replacement options under the company's option regrant program.

Summary

• On August 14, 2024, Tobi Lebowitz, Chief Legal Officer and Secretary of Jushi Holdings Inc., had two existing stock option grants canceled.
• The canceled options included one for 250,000 shares and another for 340,000 shares of the issuer's Subordinate Voting Shares.
• These cancellations were part of the issuer's option regrant program.
• In exchange, Ms. Lebowitz will receive replacement options for the same number of shares (250,000 and 340,000 respectively) on or about September 17, 2024.
• The option for 103,626 shares has an exercise price of $1.93 and vests over three years from May 1, 2022.
• The option for 236,374 shares has an exercise price of $1.93 and vests over three years from May 1, 2022.

Sentiment

Score: 6

Explanation: The document describes a routine administrative action (stock option regrant). It's neither particularly positive nor negative from an investment perspective.

Positives

• The option regrant program may be seen as a positive sign of the company's commitment to incentivizing its executives.

Risks

• The cancellation and re-granting of options could potentially dilute existing shareholders' equity, although the number of shares remains the same.

Future Outlook

The reporting person will receive replacement options for the canceled shares on or about September 17, 2024.

Industry Context

Stock option grants and regrant programs are common practices in publicly traded companies to incentivize and retain key personnel. The cannabis industry is no exception, and companies like Jushi Holdings use these tools to align executive interests with shareholder value.

Comparison to Industry Standards

• Comparing Jushi Holdings' stock option practices to other cannabis companies like Curaleaf, Trulieve, and Green Thumb Industries would provide a benchmark.
• These companies also utilize stock options as part of their compensation packages.
• The vesting schedules and exercise prices are typical for executive compensation in growth-oriented companies.

Stakeholder Impact

• The option regrant program could have a minor dilutive effect on existing shareholders, although the number of shares remains the same.

Next Steps

• The reporting person will receive replacement options on or about September 17, 2024.

Key Dates