FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). |
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
GENERAL CANNABIS CORP [ CANN ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 09/11/2020 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
Code | V | Amount | (A) or (D) | Price |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Option | $0.31 | 09/11/2020 | A | 37,500 | 09/11/2020 | 09/11/2027 | Common Stock | 37,500 | $0(1) | 37,500 | D | ||||
Option | $0.31 | 09/11/2020 | A | 37,500 | 09/11/2020 | 09/11/2027 | Common Stock | 37,500 | $0(1) | 37,500 | D | ||||
Option | $3.2 | 09/11/2020 | D(2) | 25,000 | (2) | 12/30/2021 | Common Stock | 25,000 | $0(2) | 0 | D | ||||
Option | $3.2 | 09/11/2020 | A(2) | 25,000 | (2) | 12/30/2023 | Common Stock | 25,000 | $0(2) | 25,000 | D | ||||
Option | $2.41 | 09/11/2020 | D(3) | 25,000 | (3) | 03/31/2022 | Common Stock | 25,000 | $0(3) | 0 | D | ||||
Option | $2.41 | 09/11/2020 | A(3) | 25,000 | (3) | 03/31/2024 | Common Stock | 25,000 | $0(3) | 25,000 | D | ||||
Option | $1.92 | 09/11/2020 | D(4) | 25,000 | (4) | 06/20/2022 | Common Stock | 25,000 | $0(4) | 0 | D | ||||
Option | $1.92 | 09/11/2020 | A(4) | 25,000 | (4) | 06/20/2024 | Common Stock | 25,000 | $0(4) | 25,000 | D | ||||
Option | $1.34 | 09/11/2020 | D(5) | 25,000 | (5) | 09/26/2022 | Common Stock | 25,000 | $0(5) | 0 | D | ||||
Option | $1.34 | 09/11/2020 | A(5) | 25,000 | (5) | 09/26/2024 | Common Stock | 25,000 | $0(5) | 25,000 | D | ||||
Option | $4.23 | 09/11/2020 | D(6) | 25,000 | (6) | 12/21/2022 | Common Stock | 25,000 | $0(6) | 0 | D | ||||
Option | $4.23 | 09/11/2020 | A(6) | 25,000 | (6) | 12/21/2024 | Common Stock | 25,000 | $0(6) | 25,000 | D | ||||
Option | $2.21 | 09/11/2020 | D(7) | 37,500 | (7) | 03/30/2023 | Common Stock | 37,500 | $0(7) | 0 | D | ||||
Option | $2.21 | 09/11/2020 | A(7) | 37,500 | (7) | 03/30/2025 | Common Stock | 37,500 | $0(7) | 37,500 | D | ||||
Option | $3.71 | 09/11/2020 | D(8) | 37,500 | (8) | 06/27/2023 | Common Stock | 37,500 | $0(8) | 0 | D | ||||
Option | $3.71 | 09/11/2020 | A(8) | 37,500 | (8) | 06/27/2025 | Common Stock | 37,500 | $0(8) | 37,500 | D | ||||
Option | $4.02 | 09/11/2020 | D(9) | 37,500 | (9) | 09/20/2023 | Common Stock | 37,500 | $0(9) | 0 | D | ||||
Option | $4.02 | 09/11/2020 | A(9) | 37,500 | (9) | 09/20/2025 | Common Stock | 37,500 | $0(9) | 37,500 | D | ||||
Option | $3.37 | 09/11/2020 | D(10) | 37,500 | (10) | 10/12/2023 | Common Stock | 37,500 | $0(10) | 0 | D | ||||
Option | $3.37 | 09/11/2020 | A(10) | 37,500 | (10) | 10/12/2025 | Common Stock | 37,500 | $0(10) | 37,500 | D | ||||
Option | $2.37 | 09/11/2020 | D(11) | 37,500 | (11) | 01/21/2024 | Common Stock | 37,500 | $0(11) | 0 | D | ||||
Option | $2.37 | 09/11/2020 | A(11) | 37,500 | (11) | 01/21/2026 | Common Stock | 37,500 | $0(11) | 37,500 | D | ||||
Option | $1.66 | 09/11/2020 | D(12) | 37,500 | (12) | 04/24/2024 | Common Stock | 37,500 | $0(12) | 0 | D | ||||
Option | $1.66 | 09/11/2020 | A(12) | 37,500 | (12) | 04/24/2026 | Common Stock | 37,500 | $0(12) | 37,500 | D | ||||
Option | $0.97 | 09/11/2020 | D(13) | 200,000 | (13) | 06/04/2024 | Common Stock | 200,000 | $0(13) | 0 | D | ||||
Option | $0.97 | 09/11/2020 | A(13) | 200,000 | (13) | 06/04/2026 | Common Stock | 200,000 | $0(13) | 200,000 | D | ||||
Option | $0.55 | 09/11/2020 | D(14) | 75,000 | (14) | 07/29/2024 | Common Stock | 75,000 | $0(14) | 0 | D | ||||
Option | $0.55 | 09/11/2020 | A(14) | 75,000 | (14) | 07/29/2026 | Common Stock | 75,000 | $0(14) | 75,000 | D | ||||
Option | $0.67 | 09/11/2020 | D(15) | 75,000 | (15) | 10/02/2024 | Common Stock | 75,000 | $0(15) | 0 | D | ||||
Option | $0.67 | 09/11/2020 | A(15) | 75,000 | (15) | 10/02/2026 | Common Stock | 75,000 | $0(15) | 75,000 | D |
Explanation of Responses: |
1. The reporting person obtained the listed securities pursuant to the Issuer's 2014 Equity Incentive Plan. |
2. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on December 30, 2016 and provides for vesting over a one year period. |
3. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on March 31, 2017 and provides for vesting over a one year period. |
4. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on June 20, 2017 and provides for vesting over a one year period. |
5. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on September 26, 2017 and provides for vesting over a one year period. |
6. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on December 21, 2017 and provides for vesting over a one year period. |
7. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on March 30, 2018 and provides for vesting over a one year period. |
8. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on June 27, 2018 and provides for vesting over a one year period. |
9. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on September 20, 2018 and provides for vesting over a one year period. |
10. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on October 12, 2018 and provides for vesting over a one year period. |
11. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on January 21, 2019 and provides for vesting over a one year period. |
12. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on April 24, 2019 and provides for vesting over a one year period. |
13. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on June 4, 2019 and provides for 50% of the options to vest immediately and 50% vesting over a one year period. |
14. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on July 29, 2019 and provides vesting over a one year period. |
15. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on October 2, 2019 and provides vesting over a one year period. The new option is immediately exercisable. |
By /s/ Peter Boockvar | 10/20/2020 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |