Flora Growth Corp. filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
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SECURITIES AND EXCHANGE COMMISSION
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On December 15, 2024, Flora Growth Corp. (the "Company") granted a total of 1,235,000 Restricted Stock Awards (the "RSAs") and 440,000 Stock Appreciation Rights ("SARs") to officers, directors, employees and consultants of the Company (collectively, the "Grantees") pursuant to its 2022 Incentive Compensation Plan, as amended on June 6, 2023 and August 14, 2024 and Form S-8 Registration Statement (File No. 333-282022). The following tables summarize the terms and conditions of the grants of RSAs and SARs:
|
Plan Participant |
Role |
Number of |
Vesting Date |
|
Clifford Starke |
Chief Executive Officer |
900,000 |
December 15, 2024 |
|
Sammy Dorf |
Executive Chairman |
250,000 |
December 15, 2024 |
|
Edward Woo |
Director |
50,000 |
December 15, 2024 |
|
Consultants |
35,000 |
December 15, 2024 |
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Plan Participant |
Role |
Number of |
Exercise Price |
Expiry Date |
Vesting |
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Dany Vaiman |
Chief Financial Officer |
372,500 |
$1.30 |
December 15, 2034 |
December 15, 2024 |
|
Harold Wolkin |
Director |
30,000 |
$1.30 |
December 15, 2034 |
December 15, 2024 |
|
Manfred Leventhal |
Director |
5,000 |
$1.30 |
December 15, 2034 |
December 15, 2024 |
|
Employees |
32,500 |
$1.30 |
December 15, 2034 |
December 15, 2024 |
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Each Grantee receiving RSAs entered into a Restricted Stock Award Agreement with respect to their grant of RSAs (each, a "Restricted Stock Award Agreement") and each Grantee receiving SARs entered into a Stock Appreciation Rights Agreement with respect to their grant of SARs (each, a "Stock Appreciation Rights Agreement") with the Company, as applicable.
The foregoing descriptions of the RSAs and SARs do not purport to be complete and are qualified in their entirety by reference to the provisions of the Form of Restricted Stock Award Agreement and the Form of Stock Appreciation Rights Agreement, as applicable, each of which are filed as Exhibit 10.1 and Exhibit 10.2, respectively, to this Current Report and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| 10.1# | Form of Restricted Stock Award Agreement dated December 15, 2024 |
| 10.2# | Form of Stock Appreciation Rights Agreement dated December 15, 2024 |
| 104 | Cover Page Interactive Data File |
# Management contract or compensation plan or arrangement.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| FLORA GROWTH CORP. | ||
| Date: December 17, 2024 | By: | /s/ Clifford Starke |
| Name: | Clifford Starke | |
| Title: | Chief Executive Officer | |