Form 4: Verano Holdings Corp. Executive Destiny Lynn Thompson Sells Shares to Cover Tax Obligations

Destiny Lynn Thompson, Chief People Officer of Verano Holdings Corp., sold shares to cover tax obligations related to the settlement of previously granted Restricted Stock Units.

Summary

• On June 14, 2024, Destiny Lynn Thompson, Chief People Officer of Verano Holdings Corp., sold 29,029 Class A Subordinate Voting Shares.
• The sale was executed at a price of $3.6066 per share.
• This transaction was a sell-to-cover transaction to satisfy tax withholding obligations related to the settlement of Restricted Stock Units (RSUs).
• The sell-to-cover transactions were agreed to by the Reporting Person in grant agreements signed upon the initial issuance of Restricted Stock Units on (i) February 16, 2022; (ii) June 23, 2022 and (iii) June 1, 2023 and does not represent a discretionary sale by the Reporting Person.
• Following the transaction, Thompson directly owns 90,848 Class A Subordinate Voting Shares.
• The sale price represents a weighted average sale price for multiple sale transactions ranging from $3.16 to $3.90 per share, as converted from Canadian dollars.

Sentiment

Score: 5

Explanation: Neutral sentiment as the filing relates to a routine transaction for tax purposes and doesn't indicate a change in the executive's long-term outlook on the company.

Industry Context

This is a routine Form 4 filing related to insider transactions. Sell-to-cover transactions are common when executives receive stock-based compensation.

Key Dates