Village Farms (VFF) President Bovenschen Receives RSU Award

What Happened

• Orville Bovenschen, President of Canadian Cannabis for Village Farms International (VFF), had 15,547 restricted share units (RSUs convert/vest) on 2026-04-01. No exercise price was required. To cover tax withholding, 4,118 of those shares were surrendered/disposed at $2.84 per share for $11,695, leaving a net 11,429 shares issued to him.

Key Details

• Transaction date: 2026-04-01; Form 4 filed 2026-04-02 (timely).
• Primary codes: M = conversion/exercise of derivative (RSU vesting); F = shares withheld/used to pay tax liability.
• Withheld/disposed: 4,118 shares at $2.84 each; total tax withholding value reported $11,695.
• Net shares received by insider: 11,429 (15,547 vested − 4,118 withheld).
• Shares owned after transaction: Not disclosed in the filing.
• Footnotes: RSUs are time- and performance-based; 30% vest on each of three anniversaries, remaining 10% vests Dec 31, 2027 only if share price > $3.00. Performance-based RSUs expire Jan 1, 2028 if vesting conditions aren’t met.

Context

• This was a vesting/award event (RSUs converting into common shares), not an open-market purchase or directional trade; the sale of 4,118 shares was a routine tax-withholding/cashless settlement. RSU vesting provides insiders with company stock but does not by itself indicate buying or selling intent in the open market.