Ruffini Stephen C 4
4 · Village Farms International, Inc. · Filed Dec 28, 2020
Insider Transaction Report
Form 4
Ruffini Stephen C
DirectorChief Financial Officer
Transactions
- Disposition to Issuer
Restricted Stock Units
2020-12-23−50,000→ 220,000 totalExercise: $0.00→ Common Shares (50,000 underlying) - Sale
Common Shares
2020-12-23$11.17/sh−50,000$558,500→ 818,599 total - Award
Common Shares
2020-12-23+50,000→ 868,599 total
Footnotes (3)
- [F1]Represents common shares acquired upon vesting of Mr. Ruffini's Restricted Stock Units, which are performance-based grants of common shares of the Issuer made pursuant to the Issuer's Shared-Based Compensation Plan, as described in the Issuer's Annual Report on Form 10-K for the year ended December 31, 2019, and which vest based on the achievement of certain performance targets, the passage of time or both, and do not require payment of a conversion or exercise price. To date, the performance criteria for Restricted Stock Units in an amount equal to 250,000 have been satisfied. A portion of the remaining Restricted Stock Units will expire upon the earlier of the Reporting Person's resignation from the Issuer and March 15, 2021 and a portion of the remaining Restricted Stock Units will expire upon the Reporting Person's resignation from the Issuer.
- [F2]In addition, Mr. Ruffini indirectly owns 45,800 common shares that are held indirectly through an Individual Retirement Account.
- [F3]Includes all previously reported Restricted Stock and Restricted Share Units.