[Form 3] Glass House Brands Inc. Initial Statement of Beneficial Ownership
Rhea-AI Filing Summary
Glass House Brands Inc. executive William Tu, SVP and Corporate Controller, filed an initial ownership report. He directly holds Equity Shares of the company and a significant package of Restricted Stock Units (RSUs) that convert into Equity Shares on future vesting dates.
The filing shows 159,204 RSUs outstanding, each representing one Equity Share at settlement, and 26,302 Equity Shares held directly. The RSUs come from grants made in July 2023, September 2024, and February 2025, with vesting scheduled in quarterly installments from May 2026 through September 2028, subject to the terms of the applicable award agreements.
Positive
- None.
Negative
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Restricted Stock Unit | -- | -- | -- |
| holding | Equity Shares | -- | -- | -- |
Footnotes (1)
- The Subordinate Voting Shares, Restricted Voting Shares, and/or Limited Voting Shares of Glass House Brands Inc. ("GHBI") (collectively, the "Equity Shares"). The reporting person was granted RSU awards covering 8,333 RSUs on July 12, 2023 (the "July RSUs"), 34,800 RSUs on September 1, 2024 (the "September RSUs"), and 116,071 RSUs on February 1, 2025 (the "February RSUs"), for an aggregate of 159,204 RSUs. The July RSUs vest on May 18, 2026. The September RSUs vest in six equal quarterly installments of 5,800 RSUs on June 1, 2026; September 1, 2026; December 1, 2026; March 1, 2027; June 1, 2027; and September 1, 2027, subject to the terms of the applicable award agreement. The February RSUs vest in nine quarterly installments, with an initial tranche of 38,691 RSUs vesting on September 16, 2026, and the remaining 77,380 RSUs vesting in eight substantially equal quarterly installments of 9,672 or 9,673 RSUs on December 16, 2026; March 16, 2027; June 16, 2027; September 16, 2027; December 16, 2027; March 16, 2028; June 16, 2028; and September 16, 2028, in each case subject to the terms and conditions of the applicable award agreement. Each RSU represents the right to receive, at settlement, one share of GHBI's Equity Shares.