Lowell Farms Inc.|4Dec 29, 7:24 PM ET

Ainsworth Mark L 4

4 · Lowell Farms Inc. · Filed Dec 29, 2022

Form 4

Period: 2022-12-23

DirectorChief Executive Officer

Transactions

Exercise/Conversion
Restricted Stock Units
2022-12-23−33,333→ 33,334 total
→ Subordinate Voting Shares (33,333 underlying)
Exercise/Conversion
Subordinate Voting Shares
2022-12-23+33,333→ 483,333 total
Award
Stock Options (right to buy)
2022-12-23+150,000→ 150,000 total
Exercise: $0.09Exp: 2028-12-23→ Subordinate Voting Shares (150,000 underlying)
Tax Payment
Subordinate Voting Shares
2022-12-23$0.09/sh−33,333$2,833→ 450,000 total
Award
Stock Options (right to buy)
2022-12-23+75,000→ 75,000 total
Exercise: $0.09Exp: 2028-12-23→ Subordinate Voting Shares (75,000 underlying)

Holdings

Stock Options (right to buy)
Exercise: $0.35Exp: 2026-04-05→ Subordinate Voting Shares (500,000 underlying)
500,000
Stock Options (right to buy)
Exercise: $0.31Exp: 2028-01-13→ Subordinate Voting Shares (75,000 underlying)
75,000
Stock Options (right to buy)
Exercise: $0.85Exp: 2026-01-01→ Subordinate Voting Shares (50,000 underlying)
50,000
Stock Options (right to buy)
Exercise: $0.31Exp: 2028-01-13→ Subordinate Voting Shares (125,000 underlying)
125,000

Footnotes (9)

[F1]No shares were sold by the Reporting Person. These shares were withheld by the Issuer to fund tax liability attributable to the vesting and settlement of the Restricted Stock Units ("RSUs") reported on this Form 4. These RSUs vested and were settled on December 23, 2022, and there were no related discretionary transactions or open market sales.
[F2]Each RSU represents a contingent right to receive one Subordinate Voting Share on the vesting date.
[F3]The RSUs vest in three equal annual installments beginning on December 23, 2021.
[F4]25% of the options vest and become exercisable at the end of each calendar quarter in 2023.
[F5]25% of the options vest and become exercisable on each of the first four anniversaries of the date of grant.
[F6]25% of the options vest and become exercisable on each of the first four anniversaries of the date of grant.
[F7]25% of the options vest and become exercisable at the end of each calendar quarter in 2022.
[F8]25% of the options were vested and exercisable as of the date of this reporting person's Form 3. The remainder of the options vest and become exercise in three equal annual installments beginning on January 1, 2022.
[F9]25% of the options were vested and exercisable as of the date of this reporting person's Form 3. The remainder of the options vest and become exercisable in three equal annual installments beginning on April 15, 2022.

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