DEGIGLIO MICHAEL A 4

What Happened
Michael A. DeGiglio, CEO of Village Farms International (VFF), exercised stock options on June 15, 2026. The Form 4 shows an acquisition of 33,334 shares at an exercise price of $1.08 (total cash paid $36,001). The filing also reports a simultaneous conversion/disposition of 33,334 shares at $0 (reported as a derivative conversion).

Key Details

• Transaction date: 2026-06-15 (Form 4 filed 2026-06-16 — timely filing).
• Reported transactions: Exercise/conversion of derivative (code M).
  • Acquired 33,334 shares @ $1.08 = $36,001 (cash paid).
  • Disposed/converted 33,334 shares @ $0 (no cash reported).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnote: Options were granted Feb 1, 2023 and fully vested (one-third vested each year; all vested as of now).
• Filing appears timely (within required reporting window); no 10b5-1 plan or tax-withholding detail was included in the excerpt.

Context
This was an options exercise (derivative conversion). The $0 disposal line does not indicate an open-market sale — such entries often reflect conversion mechanics, netting or share surrender/withholding related to exercising options rather than a sale to a third party. The filing is factual and does not state any motive; purchases/exercises can be a bullish signal but should be considered alongside other information.