Gillin Ann Lefever 4

What Happened

• Gillin Ann Lefever, COO of Village Farms International (VFF), had a grant of 78,525 restricted share units (RSUs) dated 2025-04-01 and on 2026-04-01 she exercised/converted 23,558 derivative awards into common shares. To satisfy tax withholding, 9,386 shares were surrendered/sold at $2.84 per share for proceeds of $26,656. The RSUs do not require an exercise price.

Key Details

• Transaction dates: Grant (A) 2025-04-01; Exercise/conversion (M) and tax payment (F) 2026-04-01; filing date 2026-04-02.
• Prices/values: Tax-withholding sale of 9,386 shares at $2.84 = $26,656. Exercise/conversion reported with no dollar price (RSUs convert to shares without an exercise price).
• Shares owned after transaction: Not specified in the provided filing data.
• Footnotes: RSUs vest 30% on each of the three anniversaries of the grant; remaining 10% vests on Dec 31, 2027 only if the share price is > $3.00. Performance-based RSUs expire Jan 1, 2028 if performance criteria are not met.
• Codes explained: A = grant/award; M = exercise/conversion of a derivative; F = shares surrendered/used to pay exercise price or tax liability.
• Timeliness: Filing dated 2026-04-02 for 2026-04-01 activity — appears timely (filed within the Form 4 reporting window).

Context

• This was primarily a conversion of RSUs to common shares with a partial sale/surrender to cover taxes (a routine administrative step), not an open-market directional sale. The tax withholding amount is modest (~$26.7k). The original RSU award is partly time- and performance-based, so additional shares may vest later if conditions are met.