Form 4: Verano Holdings EVP, Finance Sells Shares to Cover Tax Obligations

Richard C. Tarapchak, EVP of Finance at Verano Holdings Corp., sold 14,599 Class A Subordinate Voting Shares to cover tax withholding obligations related to previously granted Restricted Stock Units.

Summary

• On June 14, 2024, Richard C. Tarapchak, the EVP of Finance at Verano Holdings Corp., sold 14,599 Class A Subordinate Voting Shares.
• The sale was executed to cover tax withholding obligations associated with the settlement of Restricted Stock Units (RSUs) previously granted to him.
• The shares were sold at a weighted average price of $3.6066, with individual transactions ranging from $3.16 to $3.90 per share (converted from Canadian dollars).
• The sale was part of a sell-to-cover transaction at the company's discretion, as agreed upon in the grant agreements for the RSUs issued on June 1, 2023.
• Following the transaction, Tarapchak still beneficially owns 73,966 Class A Subordinate Voting Shares.

Sentiment

Score: 5

Explanation: The document describes a routine transaction (sell-to-cover for tax obligations) and doesn't contain any information that would significantly impact investor sentiment positively or negatively.

Industry Context

Executive stock sales are a common occurrence, often related to compensation and tax planning. Sell-to-cover transactions are typical when RSUs vest, allowing executives to meet their tax obligations without needing to use other funds.

Key Dates