Form 4: TILT Holdings Inc. Executive Nathaniel Christopher Kelly Reports Share Transactions

Nathaniel Christopher Kelly, Chief Revenue Officer of TILT Holdings Inc., reports the vesting and subsequent tax withholding of restricted share units.

Summary

• On March 1, 2024, Nathaniel Christopher Kelly, the Chief Revenue Officer of TILT Holdings Inc., had 140,625 restricted share units (RSUs) vest.
• The company withheld 29,357 common shares to satisfy income tax obligations related to the vesting of these RSUs.
• The price of the common shares was calculated at $0.0332 based on the closing price on Cboe Canada on March 1, 2024, which was CAD$0.045, converted to USD using an exchange rate of USD$1.00 = CAD$1.3564.
• Following these transactions, Kelly directly owns 218,886 common shares and 281,250 RSUs.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing related to executive compensation. It doesn't contain information that would significantly impact investor sentiment positively or negatively.

Future Outlook

140,625 RSUs will vest on March 1, 2025 and 140,625 RSUs will vest on March 1, 2026, subject to the Reporting Person's continued employment with the Issuer on each vesting date.

Industry Context

This filing is a routine disclosure related to executive compensation and equity ownership, common in publicly traded companies. It provides transparency into the holdings and transactions of key personnel.

Comparison to Industry Standards

• Equity compensation is a standard practice in publicly traded companies to align the interests of executives with those of shareholders.
• The vesting schedule of the RSUs (annual vesting over multiple years) is a typical structure to incentivize long-term commitment.
• Tax withholding on vesting equity is a common procedure to ensure compliance with tax regulations.

Stakeholder Impact

• The vesting of RSUs has a minor dilutive effect on existing shareholders.
• The transactions reflect ongoing compensation arrangements for the Chief Revenue Officer.

Key Dates

Keywords

TILT Holdings Inc., Nathaniel Christopher Kelly, Chief Revenue Officer, Form 4, Restricted Share Units, RSU, Beneficial Ownership, Share Transactions, Vesting, Tax Withholding