| 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). | |||||||||||||||||
| Check this box to indicate that a 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). See Instruction 10. | |||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
4Front Ventures Corp. [ FFNTF ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 01/03/2025 | ||||||||||||||||||||||||||
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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 | ||||||
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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 | ||||||||
| Stock Option (right to buy) | $0.01(1) | 01/03/2025 | A | 400,000 | (2) | 01/03/2030 | Class A SVS | 400,000 | (3) | 2,200,000 | D | ||||
| Stock Option (right to buy) | $0.09(4) | 01/03/2025 | D | 400,000 | (2) | 07/25/2029 | Class A SVS | 400,000 | (3) | 0 | D | ||||
| Stock Option (right to buy) | $0.01(1) | 01/03/2025 | A | 1,100,000 | (5) | 01/03/2030 | Class A SVS | 1,200,000 | (6) | 2,200,000 | D | ||||
| Stock Option (right to buy) | $0.15(7) | 01/03/2025 | D | 1,100,000 | (5) | 06/30/2028 | Class A SVS | 1,200,000 | (6) | 0 | D | ||||
| Stock Option (right to buy) | $0.01(1) | 01/03/2025 | A | 700,000 | (8) | 01/03/2030 | Class A SVS | 700,000 | (9) | 2,200,000 | D | ||||
| Stock Option (right to buy) | $0.16(10) | 01/03/2025 | D | 700,000 | (8) | 05/26/2028 | Class A SVS | 700,000 | (9) | 0 | D | ||||
| Explanation of Responses: |
| 1. Converted from CAD$0.02 based on CAD-USD Bank of Canada exchange rate of 1.4442 on January 3, 2025. |
| 2. No options vest until July 25, 2025, then 1/24th of the options vest each month. |
| 3. The Reporting Person agreed to cancellation of an option granted on July 25, 2024, in exchange for a new option having a lower exercise price. |
| 4. Converted from CAD$0.12 based on CAD-USD Bank of Canada exchange rate of 1.3819 on July 25, 2024. |
| 5. The options are vested upon grant, however, pursuant to the terms of the award agreement may not be exercised prior to June 30, 2025. |
| 6. The Reporting Person agreed to cancellation of an option granted on June 30, 2023, in exchange for a new option having a lower exercise price. |
| 7. Converted from CAD$0.20 based on CAD-USD Bank of Canada exchange rate of 1.324 on June 30, 2023. |
| 8. 7/24ths of the options are vested upon grant; the remainder of the options vest 1/24th each month. |
| 9. The Reporting Person agreed to cancellation of an option granted on May 26, 2023, in exchange for a new option having a lower exercise price. |
| 10. Converted from CAD$0.22 based on CAD-USD Bank of Canada Exchange rate of 1.3623 on May 26, 2023. |
| /s/ Roman Tkachenko | 01/06/2025 | |
| ** 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. | ||