Crandall Ryan 4

What Happened
Ryan Crandall, Chief Commercial Officer of Marimed, received an award of 131,250 restricted stock units (RSUs) on April 15, 2026. The Form 4 reports the award as a derivative grant (transaction code A) with a reported acquisition price of $0.00; the grant was issued in lieu of cash payment of a portion of his annual bonus for the fiscal year ended December 31, 2025. These RSUs convert to common shares on a one-for-one basis upon vesting.

Key Details

• Transaction date: 2026-04-15 (Form 4 filed 2026-04-17 — appears timely).
• Transaction type/code: Award of RSUs (A), 131,250 units, reported price $0.00 (derivative award).
• Vesting schedule: Four equal installments on Jul 15, 2026; Oct 15, 2026; Jan 15, 2027; Apr 15, 2027 (per footnote).
• Conversion: RSUs convert to common stock one-for-one when vested (per footnote).
• Reason: Granted in lieu of a portion of the reporting person’s 2025 annual bonus.
• Shares owned after transaction: Not specified in the provided filing excerpt.

Context
This was a compensation grant, not an open-market buy or sale, so it primarily reflects company pay policy rather than an immediate trading signal. RSUs will become actual shares only as they vest on the scheduled dates; tax withholding or net settlement may affect the final number of shares delivered upon vesting.