0001654954-22-000182.txt : 20220105 0001654954-22-000182.hdr.sgml : 20220105 20220105060221 ACCESSION NUMBER: 0001654954-22-000182 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20220101 FILED AS OF DATE: 20220105 DATE AS OF CHANGE: 20220105 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Ainsworth Mark L CENTRAL INDEX KEY: 0001861849 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-56254 FILM NUMBER: 22509311 MAIL ADDRESS: STREET 1: 19 QUAIL RUN CIRCLE, SUITE B CITY: SALINAS STATE: CA ZIP: 93907 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Lowell Farms Inc. CENTRAL INDEX KEY: 0001838128 STANDARD INDUSTRIAL CLASSIFICATION: AGRICULTURE PRODUCTION - CROPS [0100] IRS NUMBER: 000000000 STATE OF INCORPORATION: A1 FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 19 QUAIL RUN CIRCLE - SUITE B CITY: SALINAS STATE: CA ZIP: 93907 BUSINESS PHONE: (831) 998-8214 MAIL ADDRESS: STREET 1: 19 QUAIL RUN CIRCLE - SUITE B CITY: SALINAS STATE: CA ZIP: 93907 FORMER COMPANY: FORMER CONFORMED NAME: Indus Holdings, Inc. DATE OF NAME CHANGE: 20201228 4 1 section16.xml PRIMARY DOCUMENT X0306 4 2022-01-01 0001838128 Lowell Farms Inc. LOWLF 0001861849 Ainsworth Mark L C/O LOWELL FARMS INC. 19 QUAIL RUN CIRCLE, SUITE B SALINAS CA 93907 true true Chief Executive Officer Subordinate Voting Shares 2022-01-01 4 M false 33333 0 A 483333 D Subordinate Voting Shares 2022-01-01 4 F false 33333 0.3543 D 450000 D Restricted Stock Units 2022-01-01 4 M false 33333 0 D Subordinate Voting Shares 33333 66667 D Stock options (right to buy) 0.85 2026-01-01 Subordinate Voting Shares 50000 50000 D Stock options (right to buy) 0.346 2026-04-15 Subordinate Voting Shares 500000 500000 D Class B Common Shares of Indus Holding Company Subordinate Voting Shares 1019765 1019765 D 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 January 1, 2022 as originally scheduled, and there were no related discretionary transactions or open market sales Each RSU represents a contingent right to receive one Subordinate Voting Share on the vesting date. The RSUs vest in three equal annual installments beginning on January 1, 2022. 50% of the options were vested and exercisable as of the date of this Form 4. The remainder of the options vest and become exercisable in two equal annual installments beginning on January 1, 2023. 25% of the options were vested and exercisable as of May 10, 2021. The remainder of the options vest and become exercisable in three equal annual installments beginning on April 15, 2022. Class B Common Shares of Indus Holding Company may be redeemed at the option of the holder for Subordinate Voting Shares of the issuer on a one-for-one basis or, at the option of Indus Holding Company, for the cash equivalent of such Subordinate Voting Shares, as determined in accordance with the certificate of incorporation of Indus Holding Company. Class B Common Shares may be redeemed at any time and have no expiration date. /s/ Mark Ainsworth 2022-01-04