Blum Holdings (BLMH) grants 194,183 shares to former director

Rhea-AI Filing Summary

Blum Holdings director Matthew Barron received 194,183 shares of common stock as compensation for board service at an implied price of $0.98 per share. The shares were issued on December 31, 2025 and are held directly, bringing his beneficial ownership to 194,183 shares.

The filing also notes that Matthew Barron resigned from the Board of Directors and from the Audit Committee effective November 17, 2025, and that his resignation was not due to any disagreement with the company’s operations, policies, or practices.

SEC Form 4

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

X

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^*

Barron Matthew T

(Last) (First) (Middle)

11516 DOWNEY AVE

(Street)

DOWNEY CA 90241

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BLUM HOLDINGS, INC. [ BLMH ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
12/31/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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
Common Stock	12/31/2025		A		194,183	A(1)	$0.98	194,183	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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

Explanation of Responses:

1. The shares reported herein were issued to Matt Barron on December 31, 2025 as compensation for service as a director of the Issuer, at an implied price of $0.98 per share.

Remarks:

Effective November 17, 2025, Matthew Barron resigned from the Board of Directors of Blum Holdings, Inc. (the "Company"). Mr. Barron was a member of the Audit Committee of the Company. The resignation was not in connection with any disagreement with the Company about its operations, policies, or practices.

	/s/ Matthew Barron	01/27/2026
	** 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.

FAQ

What did the Form 4 for BLMH report about Matthew Barron?

The Form 4 reports that director Matthew Barron received 194,183 Blum Holdings common shares on December 31, 2025 as compensation for board service, at an implied price of $0.98 per share, and now beneficially owns 194,183 shares directly.

How many BLMH shares did Matthew Barron receive and at what price?

Matthew Barron received 194,183 shares of Blum Holdings common stock as director compensation, at an implied price of $0.98 per share. This non-cash award increased his directly held beneficial ownership to 194,183 shares after the reported transaction.

Was Matthew Barron still a director of BLMH when the shares were issued?

The filing states Matthew Barron’s resignation from Blum Holdings’ Board, effective November 17, 2025. However, it also notes that 194,183 shares were issued to him on December 31, 2025 as compensation for service as a director of the company.

Did Matthew Barron’s resignation from BLMH involve any disagreement?

The filing explicitly states that Matthew Barron’s resignation from the Blum Holdings Board and Audit Committee was not in connection with any disagreement regarding the company’s operations, policies, or practices, indicating it was characterized as a non-dispute departure.

Is Matthew Barron’s ownership in BLMH direct or indirect after this transaction?

After the reported transaction, Matthew Barron’s beneficial ownership of Blum Holdings common stock is 194,183 shares held directly. The form lists the ownership form as “D” for direct and does not specify any indirect or entity-based ownership structure.