Canopy Growth (CGC) director’s RSU tax share disposition detailed in Form 4

Rhea-AI Filing Summary

BAYERN JOSEPH reported open-market sale transactions in this Form 4 filing.

Canopy Growth Corp director Joseph Bayern reported a tax-related share disposition. On March 31, 2026, he disposed of 2,658 Common Shares at $0.93 per share. A footnote explains these shares were originally granted as restricted stock units and the disposition was associated with his tax obligations upon RSU vesting. Following this transaction, he continues to hold 40,000 Common Shares directly.

Insider Trade Summary

Net Seller: 2,658 shares ($2,472)

Net Sell 1 txn

Insider BAYERN JOSEPH

Role Director

Sold 2,658 shs ($2K)

Type	Security	Shares	Price	Value
Sale	Common Shares	2,658	$0.93	$2K

Holdings After Transaction: Common Shares — 40,000 shares (Direct)

Footnotes (1)

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Key Figures

Shares disposed: 2,658 shares Price per share: $0.93 per share Shares held after transaction: 40,000 shares +1 more

4 metrics

Shares disposed 2,658 shares Common Shares disposed on March 31, 2026

Price per share $0.93 per share Disposition price for Common Shares

Shares held after transaction 40,000 shares Direct Common Share holdings following disposition

RSU grant date November 11, 2025 Date restricted stock units were granted

Key Terms

restricted stock units, RSUs, vesting, tax obligations, +1 more

5 terms

restricted stock units financial

"The shares reported as disposed herein were granted on November 11, 2025, in the form of restricted stock units ("RSUs")."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

RSUs financial

"in the form of restricted stock units ("RSUs")."

RSUs, or restricted stock units, are a form of company shares given to employees as part of their compensation. They are typically awarded with certain restrictions, such as a waiting period before they can be fully owned or sold, similar to earning a gift that becomes fully yours over time. For investors, RSUs can impact a company's stock offerings and reflect how much the company relies on stock-based incentives to attract and retain talent.

vesting financial

"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.

tax obligations financial

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

Common Shares financial

"security_title": "Common Shares""

Common shares are the basic units of ownership in a company that give holders a claim on profits and a right to vote on key matters, like electing the board. Think of them as membership cards in a club: they let you share in successes and losses, but in a bankruptcy or liquidation they are paid after creditors and preferred shareholders, so their value can swing more and matters for assessing risk and potential return.

Form 4 Insider Transactions: What Each Field Means →

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
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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)
03/31/2026

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	03/31/2026		S		2,658(1)	D	$0.93	40,000	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 November 11, 2025, 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/ Keith Pisani, Attorney-in-fact for Joseph Bayern	04/02/2026
	** 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 (CGC) director Joseph Bayern report in this Form 4?

Joseph Bayern reported a disposition of Canopy Growth Common Shares. He transferred 2,658 shares, originally granted as restricted stock units, in a transaction tied to tax obligations arising from the vesting of those RSUs, rather than a discretionary open-market sale.

How many Canopy Growth (CGC) shares did Joseph Bayern dispose of and at what price?

Joseph Bayern disposed of 2,658 Canopy Growth Common Shares at a price of $0.93 per share. The filing characterizes the event as a disposition linked to RSU vesting-related tax obligations, not as a standard investment-motivated trade in the open market.

Why were Joseph Bayern’s Canopy Growth (CGC) shares disposed of in this transaction?

The filing states the shares were disposed of to address tax obligations associated with the vesting of restricted stock units granted on November 11, 2025. This makes the transaction compensation- and tax-related rather than a discretionary buy or sell decision in the market.

How many Canopy Growth (CGC) shares does Joseph Bayern hold after this Form 4 transaction?

After the reported disposition, Joseph Bayern holds 40,000 Canopy Growth Common Shares directly. This post-transaction holding figure comes from the Form 4 and provides context for his remaining equity stake following the tax-related RSU vesting event.

Was Joseph Bayern’s Canopy Growth (CGC) transaction an open-market sale?

Although coded as a sale, the footnote clarifies the disposition is associated with tax obligations from vesting restricted stock units. That language indicates the primary purpose was to satisfy tax requirements rather than to execute a typical open-market sale for portfolio or valuation reasons.