DEGIGLIO MICHAEL A 4

What Happened
Michael A. DeGiglio, CEO of Village Farms International (VFF), had 51,968 restricted share units (RSUs) convert/vest on April 1, 2026 (reported on Form 4 filed 2026-04-02). Of those vested shares, 12,654 were surrendered/withheld to cover tax withholding at an indicated price of $2.84 per share (total ~$35,937). The conversion represents the 30% anniversary vesting of a 173,225 RSU grant awarded on April 1, 2025. RSUs do not require an exercise price; the net shares retained from this vesting are 39,314 (51,968 − 12,654).

Key Details

• Transaction dates: April 1, 2026 (conversion/vesting and withholding); Form 4 filed April 2, 2026.
• Shares involved: 51,968 RSUs vested/converted; 12,654 shares withheld for taxes at $2.84 each (tax withholding value reported as $35,937). Net shares from this vesting: 39,314.
• Grant background: 173,225 RSUs granted April 1, 2025 (time- and performance-based). 30% vests on each anniversary; remaining 10% vests Dec 31, 2027 if share price > $3.00.
• Footnotes: RSUs vest per the issuer’s plan; performance-based portion expires Jan 1, 2028 if criteria not met.
• Filing timeliness: Form filed the day after the April 1 transactions; no late filing indicated in the provided data.
• Shares owned after transaction: total holdings after this transaction are not specified in the supplied filing data; net new shares from this vesting are 39,314.

Context
This filing documents standard RSU vesting and routine tax withholding (reported under Form 4 codes M for conversion/exercise and F for tax withholding). Withholding or surrender of shares to cover taxes is common and should not be interpreted as an open-market sale signal. The original grant is partly performance-linked, so a final 10% portion depends on meeting the price condition by year-end 2027.