[Form 4] Cannabist Co Holdings Inc. Insider Trading Activity

Rhea-AI Filing Summary

Cannabist Co Holdings Inc. insider David Sirolly, the company's Chief Legal Officer and General Counsel, reported a transaction dated 09/30/2025 on SEC Form 4. The filing shows 962 common shares were acquired at an effective price of $0.073 per share under transaction code F. The form's explanatory note states these shares represent amounts withheld by the issuer to satisfy tax obligations at the time of share settlement for annual equity grants. After this activity, Mr. Sirolly beneficially owns 1,130,779 common shares. The Form 4 is individually filed and is signed by Mr. Sirolly on 10/02/2025.

Positive

• Insider disclosure completed showing transparent reporting of equity settlement and post-transaction beneficial ownership
• Shares were acquired to satisfy tax obligations, indicating routine administrative handling of equity grants rather than a market sale

Negative

• None.

Insights

Corporate Governance Expert

Insider reported a small tax-withhold share acquisition; ownership remains disclosed.

The Form 4 documents a routine withholding of 962 shares to cover taxes on equity grants rather than an open-market purchase or sale. This is an administrative transaction that reduces the net shares delivered to the officer while keeping overall beneficial ownership transparent.

Such filings maintain public disclosure of insider holdings and show the officer retains substantial ownership (1,130,779 shares) after the settlement.

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

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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).

1. Name and Address of Reporting Person^*

SIROLLY DAVID

(Last) (First) (Middle)

C/O THE CANNABIST COMPANY HOLDINGS INC.

321 BILLERICA ROAD

(Street)

CHELMSFORD MA 01824

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Cannabist Co Holdings Inc. [ CBSTF ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Legal Officer/GC

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

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 Shares	09/30/2025		F		962(1)	A	$0.073	1,130,779	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. Amount represents the number of shares withheld by the Issuer to pay taxes on behalf of the Reporting Person at the time of share settlement for annual equity grants.

	/s/ David Sirolly	10/02/2025
	** 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.

FAQ

Who filed the Form 4 for CBSTF?

David Sirolly, Chief Legal Officer/General Counsel, filed the Form 4.

What transaction is reported on the CBSTF Form 4 dated 09/30/2025?

The filing reports the acquisition of 962 common shares at an effective price of $0.073 under transaction code F.

Why were the 962 shares acquired according to the filing?

The explanation states the shares were withheld by the issuer to pay taxes on annual equity grants at settlement.

How many CBSTF shares does the reporting person beneficially own after the transaction?

After the transaction, Mr. Sirolly beneficially owns 1,130,779 common shares.

When was the Form 4 signed?

The signature date on the Form 4 is 10/02/2025.