Form 4: Verano Holdings Corp. Executive Settles Restricted Stock Units into Class A Shares
SEC Form 4
Aaron Nathaniel Miles, Chief Investment Officer of Verano Holdings Corp., settled vested restricted stock units into Class A Subordinate Voting Shares on June 3, 2024.
Summary
- On June 3, 2024, Aaron Nathaniel Miles, the Chief Investment Officer of Verano Holdings Corp., executed transactions involving the settlement of restricted stock units (RSUs) into Class A Subordinate Voting Shares.
- Miles settled 89,510 Class A Subordinate Voting Shares at a price of $0.
- The transactions involved the settlement of 18,533 RSUs granted on June 23, 2022, and 70,977 RSUs granted on June 1, 2023.
- Following these transactions, Miles directly owns 185,193 Class A Subordinate Voting Shares, 397,815 RSUs granted on June 23, 2022, and 326,838 RSUs granted on June 1, 2023.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing insider transactions, which carries a neutral sentiment.
Industry Context
This Form 4 filing is a routine disclosure related to insider transactions. It reflects the standard practice of executives receiving and settling equity-based compensation.
Stakeholder Impact
- The transaction may have a minor impact on shareholders due to the increase in the number of outstanding Class A Subordinate Voting Shares.
Key Dates
| Date | Description |
|---|---|
| June 23, 2022 | Grant date of 18,533 restricted stock units that vest in installments. |
| June 1, 2023 | Grant date of 70,977 restricted stock units that vest in installments. |
| June 1, 2023 | First vesting date (25%) for the restricted stock units granted on June 23, 2022. |
| December 1, 2023 | Second vesting date (25%) for the restricted stock units granted on June 23, 2022. |
| June 1, 2024 | Third vesting date (25%) for the restricted stock units granted on June 23, 2022 and first vesting date (25%) for the restricted stock units granted on June 1, 2023. |
| June 3, 2024 | Date of transaction: settlement of vested restricted stock units into Class A Subordinate Voting Shares. |
| December 1, 2024 | Final vesting date (25%) for the restricted stock units granted on June 23, 2022. |
| Each six-month anniversary of June 1, 2024 | Vesting dates (25%) for the restricted stock units granted on June 1, 2023. |
| June 5, 2024 | Date of signature for the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.