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