Miller James 4

What Happened

• James ("Jim") Miller, a director of Blum Holdings, Inc. (BLMH), received an award of 191,327 common shares on December 31, 2025. The filing reports an implied price of $0.98 per share, making the grant worth approximately $187,500. This transaction is reported as an award/grant (code A), i.e., shares issued as compensation for board service rather than an open-market purchase.

Key Details

• Transaction date: December 31, 2025; Filing date: January 27, 2026 (Form 4 filed ~27 days after the transaction).
• Price/valued at: $0.98 per share (implied); Total value: $187,500.
• Shares received: 191,327 (issued to Mr. Miller as director compensation per footnote F1).
• Shares owned after transaction: Not specified in the supplied filing details.
• Footnote: F1 states the shares were issued to Jim Miller on 12/31/2025 as compensation for director service at an implied price of $0.98/share.
• Timeliness: Filing appears late relative to the usual 2-business-day Form 4 deadline; late filings delay public disclosure of insider activity.

Context

• This was a compensation award for board service, which is common for directors and reflects pay rather than a personal market bet. Such awards increase insider ownership but should not be interpreted as an open-market buy. No indication in the provided data that Mr. Miller is a 10% owner or that the shares were sold immediately.