GrowGeneration (GRWG) director Eula Adams receives 25,000-share grant

Rhea-AI Filing Summary

GrowGeneration Corp. (GRWG) director Eula L. Adams received a board-approved grant of 25,000 shares of common stock effective September 18, 2025. After the grant, Ms. Adams beneficially owns 102,870 shares, with 25,000 held indirectly through The Eula Adams Trust and the remainder held directly. The Form 4 was signed by Ms. Adams on September 19, 2025. The filing discloses no cash price for the grant (reported as $0) and contains no derivative transactions or other changes.

Positive

• Board-approved equity grant aligns director incentives with shareholders
• Post-grant beneficial ownership disclosure provides transparency: 102,870 shares total

Negative

• No price consideration disclosed (reported as $0) which provides limited context on valuation or vesting
• Filing lacks details on vesting schedule or whether grant is from existing treasury versus new issuance

Insights

Corporate Governance Expert

TL;DR: Director received a routine equity grant, increasing alignment with shareholders without disclosed cash consideration.

The 25,000-share grant to a sitting director appears to be a standard equity compensation action to align management and board incentives with shareholders. The filing shows a post-grant beneficial ownership of 102,870 shares, with 25,000 held indirectly in a trust. No exercise prices, options, or dispositions are reported. This is a governance-level disclosure of compensation rather than an operational or financial performance signal. Materiality to investors is limited unless the grant signals a broader change to compensation policy or is part of a larger issuance program.

Securities Analyst

TL;DR: Insider equity issuance is informational; it does not indicate sales or dilution details in this filing.

The Form 4 documents issuance of 25,000 shares to a director with a reported price of $0, suggesting a grant rather than a purchase. The report does not disclose aggregate share pool impact, grant terms beyond the share count, or any related cashflows. From a market-impact perspective, this single director grant is unlikely to be material for GRWG unless part of a larger or recurring equity compensation trend that increases share count meaningfully.

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

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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^*

ADAMS EULA L

(Last) (First) (Middle)

9194 E. VASSAR AVE

(Street)

DENVER CO 80231

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
GrowGeneration Corp. [ GRWG ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/18/2025

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 Stock	09/18/2025		A		25,000(1)	A	$0	102,870	D
Common Stock								25,000	I	The Eula Adams Trust

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 Board approved the grant of 25,000 shares of the Issuer's common stock to the Reporting Person as of September 18, 2025.

Remarks:

	/s/ Eula Adams	09/19/2025
	** 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 GRWG director Eula L. Adams receive on September 18, 2025?

She was granted 25,000 shares of GrowGeneration Corp. common stock, effective September 18, 2025.

How many GrowGeneration (GRWG) shares does Eula Adams beneficially own after the grant?

She beneficially owns 102,870 shares following the reported transaction.

Is the 25,000-share transaction a purchase or a grant in the Form 4?

The transaction is reported with code A (acquisition) and a price of $0, indicating a grant rather than a cash purchase.

Does the Form 4 for GRWG disclose any derivative transactions by the reporting person?

No. The filing contains no derivative securities transactions; only the non-derivative common stock grant is reported.

Was any indirect ownership vehicle disclosed for Eula Adams?

Yes. 25,000 shares are shown as held indirectly through The Eula Adams Trust.