Timothy Shaw - Mar 7, 2024 Form 4 Insider Report for MARIMED INC. (MRMD)

Role
Chief Operating Officer
Signature
/s/ Timothy Shaw
Stock symbol
MRMD
Transactions as of
Mar 7, 2024
Transactions value $
-$3,604
Form type
4
Date filed
3/11/2024, 05:30 PM
Previous filing
Oct 30, 2023
Next filing
Apr 3, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MRMD Common stock Options Exercise +43.3K +0.51% 8.49M Mar 7, 2024 Direct F1
transaction MRMD Common stock Sale -$3.6K -15.3K -0.18% $0.23 8.48M Mar 7, 2024 Direct F2
holding MRMD Common stock 2M Mar 7, 2024 By the Shaw Family Trust F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction MRMD Restricted Stock Units (RSU) Options Exercise $0 -43.3K -33.33% $0.00 86.7K Mar 7, 2024 Common Stock, par value $.001 per share 43.3K Direct F1, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 RSUs convert to shares of common stock on a one-for-one basis.
F2 Reflects shares of common stock sold pursuant to a Rule 10b5-1 instruction letter previously adopted by the Reporting Person on March 10, 2023 to satisfy tax withholding obligations in connection with the vesting of RSUs.
F3 The reporting persons spouse is the trustee of the trust and the shares held in the trust are for the benefit of the reporting persons children. The trust is an irrevocable trust. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
F4 The RSUs vest over a three year period of which 43,333 RSUs vested on March 7, 2024 and thereafter, 21,667 RSUs will vest every succeeding six (6) months through March 7, 2026, on each of September 7th and March 7th, in accordance with the terms of an award agreement between the Issuer and the Reporting Person.