Tax-related share sale by Canopy Growth (CGC) director after RSU vesting

Rhea-AI Filing Summary

Canopy Growth Corp director Joseph Bayern reported a small tax-related share sale. He disposed of 3,197 common shares on June 26, 2026 at $0.9237 per share, leaving him with 145,127 shares. A footnote explains the shares were withheld to cover taxes from recently vested RSUs, rather than a discretionary open-market sale.

Insights

Insider trading analyst

Small tax-related sale linked to RSU vesting; routine, low signal.

Director Joseph Bayern reported disposing of 3,197 common shares of Canopy Growth Corp$0.9237 per share, and he retained 145,127 shares afterward, indicating this is a minor portion of his holdings.

A footnote states the shares were originally granted as restricted stock units (RSUs) on June 17, 2026 and that the disposition is tied to tax obligations upon vesting. This makes the transaction a mechanical tax event rather than a discretionary sale, so it carries limited informational value about his outlook.

Insider Trade Summary

Net Seller: 3,197 shares ($2,953)

Net Sell 1 txn

Insider BAYERN JOSEPH

Role null

Sold 3,197 shs ($3K)

Type	Security	Shares	Price	Value
Sale	Common Shares	3,197	$0.9237	$3K

Holdings After Transaction: Common Shares — 145,127 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Shares disposed: 3,197 shares Sale price per share: $0.9237 per share Shares held after transaction: 145,127 shares

3 metrics

Shares disposed 3,197 shares Common Shares sold on June 26, 2026

Sale price per share $0.9237 per share Price for the 3,197 Common Shares

Shares held after transaction 145,127 shares Director’s direct holdings after disposition

Key Terms

restricted stock units ("RSUs"), tax obligations, vesting

3 terms

restricted stock units ("RSUs") financial

"The shares reported as disposed herein were granted on June 17, 2026, in the form of restricted stock units ("RSUs")."

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

tax obligations financial

"The disposition of shares is associated with tax obligations of the reporting person associated with the vesting of the RSUs."

vesting financial

"The disposition of shares is associated with tax obligations of the reporting person associated with the vesting of the RSUs."

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/29/2026 - 04:17 PM Accepted by SEC EDGAR 06/29/2026 - 04:16 PM Learn about SEC filing dates

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

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^*

BAYERN JOSEPH

(Last) (First) (Middle)

C/O CANOPY GROWTH CORPORATION

1 HERSHEY DRIVE

(Street)

SMITHS FALLS K7A 0A8

(City) (State) (Zip)

ONTARIO, CANADA

(Country)

2. Issuer Name and Ticker or Trading Symbol
Canopy Growth Corp [ CGC ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/26/2026

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

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

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

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	06/26/2026		S		3,197(1)	D	$0.9237	145,127	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 as disposed herein were granted on June 17, 2026, in the form of restricted stock units ("RSUs"). The disposition of shares is associated with tax obligations of the reporting person associated with the vesting of the RSUs.

	/s/ Shai Marshall, Attorney-in-fact for Joseph Bayern	06/29/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What did Canopy Growth Corp (CGC) director Joseph Bayern report in this Form 4?

Director Joseph Bayern reported disposing of 3,197 Canopy Growth common shares at $0.9237 per share. After this transaction, he directly held 145,127 shares, according to the Form 4 filing’s non-derivative transaction details.

Was the CGC director’s 3,197-share sale an open-market trade?

The transaction is coded as a sale, but a footnote clarifies it was tied to tax obligations from the vesting of restricted stock units. This suggests a mechanical tax-related disposition rather than a discretionary open-market trade decision.

How many Canopy Growth (CGC) shares does Joseph Bayern hold after this transaction?

Following the reported disposition, Joseph Bayern held 145,127 common shares of Canopy Growth Corp. This remaining stake, disclosed in the Form 4, shows the 3,197 shares disposed represent only a small fraction of his total reported holdings.

What role did restricted stock units (RSUs) play in the CGC Form 4 filing?

A footnote explains the disposed shares were originally granted as restricted stock units (RSUs) on June 17, 2026. The shares were surrendered in connection with tax obligations arising from the vesting of those RSUs, not from a new equity grant decision.

Does this CGC insider transaction suggest a change in insider sentiment?

The filing describes a tax-related disposition of RSU shares, with Bayern still holding 145,127 shares. Because the sale is linked to tax withholding, it appears more like a routine administrative event than a strong signal of changing sentiment.