Form 4: Marimed Inc. President and CEO Jon Levine Reports Stock Transactions

Jon Levine, President and CEO of Marimed Inc., reports the vesting of restricted stock units and subsequent tax withholding, resulting in changes to his beneficial ownership of the company's common stock.

Summary

• On September 7, 2024, Jon Levine, the President and CEO of Marimed Inc., had 23,333 Restricted Stock Units (RSUs) vest and convert into common stock.
• Simultaneously, the company withheld 6,849 shares of common stock to cover tax obligations related to the RSU vesting at a price of $0.1629 per share.
• Following these transactions, Levine directly owns 20,334,362 shares of common stock.
• He also indirectly owns 6,684,640 shares through the Jon Levine Family Trust.
• The RSUs were granted on March 7, 2023, and vest in installments through March 7, 2026.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing reflecting standard compensation practices; therefore, the sentiment is neutral.

Future Outlook

The remaining RSUs will vest in three equal semi-annual installments on March 7 and September 7 through March 7, 2026.

Industry Context

This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, like the CEO, when changes occur in their beneficial ownership of the company's securities. It provides transparency to the market regarding insider transactions.

Stakeholder Impact

• The vesting of RSUs and subsequent tax withholding may have a minor dilutive effect on existing shareholders.

Key Dates