Green Thumb (GTBIF) CEO sells 2,500 super voting shares at $780

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Green Thumb Industries Inc. Chairman and CEO Benjamin Kovler reported an open-market sale of 2,500 Super Voting Shares on May 12, 2026. The shares were sold at $780.00 per Super Voting Share, with the price determined from $7.80 per underlying Subordinate Voting Share.

After this sale, Kovler directly holds 52,612 Super Voting Shares. He also reports indirect holdings of Subordinate Voting Shares through KP Capital, LLC and Outsiders Capital LLC, and indirect Super Voting Shares through Outsiders Capital LLC and the BK 2021 Descendant Trust, highlighting a significant remaining ownership position across direct and indirect stakes.

Insider Trade Summary

Net Seller: 2,500 shares ($1,950,000)

Net Sell 6 txns

Insider Kovler Benjamin

Role CHAIRMAN & CEO

Sold 2,500 shs ($1.95M)

Type	Security	Shares	Price	Value
Sale	Super Voting Shares	2,500	$780.00	$1.95M
holding	Super Voting Shares	--	--	--
holding	Super Voting Shares	--	--	--
holding	Subordinate Voting Shares	--	--	--
holding	Subordinate Voting Shares	--	--	--
holding	Subordinate Voting Shares	--	--	--

Holdings After Transaction: Super Voting Shares — 52,612 shares (Direct, null); Super Voting Shares — 5,000 shares (Indirect, By BK 2021 Descendant Trust); Subordinate Voting Shares — 726,757 shares (Direct, null); Subordinate Voting Shares — 158,130 shares (Indirect, By Outsiders Capital LLC)

Footnotes (1)

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Key Figures

Super Voting Shares sold: 2,500 shares Sale price per Super Voting Share: $780.00 per share Direct Super Voting Shares after sale: 52,612 shares +5 more

8 metrics

Super Voting Shares sold 2,500 shares Open-market sale on May 12, 2026

Sale price per Super Voting Share $780.00 per share Price based on $7.80 per underlying Subordinate Voting Share

Direct Super Voting Shares after sale 52,612 shares Total Super Voting Shares held directly following transaction

Indirect Subordinate Voting Shares via KP Capital, LLC 66 shares Indirect holdings of Subordinate Voting Shares

Indirect Subordinate Voting Shares via Outsiders Capital LLC 158,130 shares Indirect holdings of Subordinate Voting Shares

Direct Subordinate Voting Shares 726,757 shares Subordinate Voting Shares held directly

Indirect Super Voting Shares via Outsiders Capital LLC 80,642 shares Super Voting Shares held indirectly

Indirect Super Voting Shares via BK 2021 Descendant Trust 5,000 shares Super Voting Shares held indirectly

Key Terms

Super Voting Shares, Subordinate Voting Shares, open-market sale, indirect ownership, +1 more

5 terms

Super Voting Shares financial

"The price per Super Voting Share was determined based on a price of $7.80 per underlying Subordinate Voting Share."

Super voting shares are a class of company stock that gives holders more voting power per share than ordinary shares, like owning a few seats on a board while others have one each. Investors should care because these shares let a small group control major decisions—strategy, board appointments, mergers—regardless of their economic stake, which can protect long-term plans but also limit influence for ordinary shareholders.

Subordinate Voting Shares financial

"The price per Super Voting Share was determined based on a price of $7.80 per underlying Subordinate Voting Share."

Subordinate voting shares are a type of company stock that typically carry fewer voting rights than regular shares, meaning holders have less influence over company decisions. They are often used to raise capital while allowing founders or main shareholders to retain control. For investors, understanding the difference helps assess their level of influence in company decisions and the potential risks or benefits of holding different types of shares.

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

indirect ownership financial

"ownership_type": "indirect""

transaction code regulatory

"transaction_code_description": "Sale in open market or private transaction""

Form 4 Insider Transactions: What Each Field Means →

05/14/2026 - 04:30 PM

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^*

Kovler Benjamin

(Last)

(First)

(Middle)

325 WEST HURON STREET

SUITE 700

(Street)

CHICAGO

ILLINOIS

60654

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Green Thumb Industries Inc. [ GTII/GTBIF ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/12/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Super Voting Shares	05/12/2026		S		2,500	D	$780⁽¹⁾	52,612	D
Super Voting Shares								5,000	I	By BK 2021 Descendant Trust
Super Voting Shares								80,642	I	By Outsiders Capital LLC
Subordinate Voting Shares								726,757	D
Subordinate Voting Shares								158,130	I	By Outsiders Capital LLC
Subordinate Voting Shares								66	I	KP Capital, LLC

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The price per Super Voting Share was determined based on a price of $7.80 per underlying Subordinate Voting Share.

	/s/ Kathryn A. Lloyd, Attorney-in-Fact	05/14/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What did Green Thumb (GTBIF) CEO Benjamin Kovler report in this Form 4?

Benjamin Kovler reported an open-market sale of 2,500 Super Voting Shares. The transaction occurred on May 12, 2026 at $780.00 per share, with pricing based on $7.80 per underlying Subordinate Voting Share.

How many Green Thumb Super Voting Shares did the CEO sell?

He sold 2,500 Super Voting Shares. This open-market sale left him with 52,612 Super Voting Shares held directly, according to the holdings reported as of the May 12, 2026 transaction date.

What is the reported sale price in Benjamin Kovler’s Green Thumb Form 4?

The reported sale price was $780.00 per Super Voting Share. A footnote explains this was based on a price of $7.80 per underlying Subordinate Voting Share for the May 12, 2026 transaction.

How many Super Voting Shares does the Green Thumb CEO hold after the sale?

After the sale, he directly holds 52,612 Super Voting Shares. Additional Super Voting Shares are reported as held indirectly through Outsiders Capital LLC and the BK 2021 Descendant Trust as of May 12, 2026.

What indirect Green Thumb shareholdings are reported for Benjamin Kovler?

He reports indirect Subordinate Voting Shares held via KP Capital, LLC and Outsiders Capital LLC. He also reports indirect Super Voting Shares held through Outsiders Capital LLC and the BK 2021 Descendant Trust as of the reported date.

Does this Green Thumb Form 4 include any option or derivative exercises?

No derivative exercises are reported in this Form 4. The derivativeSummary shows no remaining derivative positions from this filing, and the only transaction flagged as a sale is the 2,500 Super Voting Shares.