[Form 4] Canopy Growth Corporation Insider Trading Activity

Rhea-AI Filing Summary

Canopy Growth Corp director and Chief Legal Officer & Corporate Secretary Christelle Gedeon reported a sale of 16,929 common shares on 08/22/2025 at a price of CAD $1.74 per share. The filing states the disposition was made to satisfy tax obligations tied to the vesting of restricted stock units. After the sale, the reporting person beneficially owned 368,488 common shares. The Form 4 was signed by an attorney-in-fact on 08/26/2025. All amounts and the sale rationale are presented in the filing; no additional transaction types or derivative holdings are disclosed.

Positive

• None.

Negative

• Reporting person disposed of 16,929 shares, reducing immediate insider holdings; sale could be perceived negatively by some investors despite stated tax purpose

Insights

Securities Analyst

TL;DR: Insiders sold a small block of shares to cover taxes after RSU vesting; remaining ownership remains material.

The reported sale of 16,929 shares at CAD $1.74 is explicitly tied to tax obligations from RSU vesting, which is a common, non-operational reason for insider selling. The post-transaction beneficial ownership of 368,488 shares is disclosed, allowing investors to track insider stake but the filing provides no indication of operational or strategic changes at the company.

Corporate Governance Expert

TL;DR: Transaction appears routine and compliance-driven; disclosure is timely and includes required detail.

The Form 4 identifies the reporting person, relationship to the issuer, exact share amounts, sale price in Canadian dollars, and a stated explanation that the sale satisfied tax obligations from RSU vesting. The signature by an attorney-in-fact is included. From a governance perspective, the filing meets Section 16 disclosure norms and contains no additional governance concerns.

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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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^*

Gedeon Christelle

(Last) (First) (Middle)

C/O CANOPY GROWTH CORPORATION

1 HERSHEY DRIVE

(Street)

SMITHS FALLS A6 K7A 0A8

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/22/2025

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	08/22/2025		S		16,929(1)	D	$1.74(2)	368,488	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 disposition of shares is associated with tax obligations of the reporting person associated with the vesting of restricted stock units.

2. Price is expressed in Canadian dollars.

Remarks:

Chief Legal Officer and Corporate Secretary

	/s/ Shai Marshall, Attorney-in-fact for Christelle Gedeon	08/26/2025
	** 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

What did the Canopy Growth insider file on Form 4 (CGC)?

The filing reports a sale of 16,929 common shares by Christelle Gedeon on 08/22/2025 at CAD $1.74 per share.

Why were the shares sold according to the Form 4?

The Form 4 states the disposition was made to satisfy tax obligations associated with the vesting of restricted stock units.

How many Canopy Growth shares does the reporting person own after the sale?

After the reported transaction the filing shows beneficial ownership of 368,488 common shares.

What is the reporting person’s role at Canopy Growth (CGC)?

The filing identifies the reporting person as a Director and as Chief Legal Officer and Corporate Secretary.

When was the Form 4 signed?

The signature block shows the Form 4 was signed by an attorney-in-fact on 08/26/2025.