MariMed (MRMD) Chief Commercial Officer exercises RSUs and withholds shares for taxes

Rhea-AI Filing Summary

MariMed Inc. (MRMD) reported an insider equity transaction by its Chief Commercial Officer, Ryan Crandall. On 11/29/2025, Crandall exercised 75,000 restricted stock units (RSUs), which converted into an equal number of common shares at an exercise price of $0 per share. RSUs are a form of stock-based compensation that turn into common stock as they vest.

To cover tax withholding tied to this vesting, 22,013 common shares were withheld at a price of $0.0896 per share. After these transactions, Crandall beneficially owned 784,925 shares of MariMed common stock directly. The RSUs exercised came from a grant originally made on November 29, 2024, with the remaining RSUs from that grant scheduled to vest in four equal installments on May 29, 2026, November 29, 2026, May 29, 2027 and November 29, 2027.

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).

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^*

Crandall Ryan

(Last) (First) (Middle)

10 OCEANA WAY, 2ND FLOOR

(Street)

NORWOOD MA 02062

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MARIMED INC. [ MRMD ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
11/29/2025

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	11/29/2025		M		75,000	A	$0(1)	806,938	D
Common stock	11/29/2025		F		22,013(2)	D	$0.0896	784,925	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
Restricted Stock Units (RSU)	(1)	11/29/2025		M			75,000	(3)	(3)	Common Stock, par value $.001 per share	75,000	$0	150,000	D

Explanation of Responses:

1. RSUs convert to shares of common stock on a one-for-one basis.

2. Reflects shares of common stock withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting of RSUs.

3. These RSUs were granted on November 29, 2024; the remaining RSUs under this grant will vest in four equal installments, on each of May 29, 2026, November 29, 2026, May 29, 2027 and November 29, 2027, in accordance with the terms of an award agreement between the Issuer and the Reporting Person.

Remarks:

	/s/ Ryan Crandall	12/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did MariMed (MRMD) disclose for Ryan Crandall?

MariMed disclosed that Chief Commercial Officer Ryan Crandall exercised 75,000 RSUs on 11/29/2025, converting them into 75,000 shares of common stock at an exercise price of $0 per share.

How many MariMed (MRMD) shares does Ryan Crandall own after this Form 4 transaction?

Following the reported RSU exercise and tax withholding, Ryan Crandall beneficially owned 784,925 shares of MariMed Inc. common stock directly.

How were taxes handled on the RSU vesting reported for MariMed (MRMD)?

To satisfy tax withholding obligations related to the RSU vesting, 22,013 shares of MariMed common stock were withheld and disposed of at a price of $0.0896 per share.

What are RSUs in the context of MariMed (MRMD) executive compensation?

The filing explains that RSUs convert to shares of common stock on a one-for-one basis, meaning each restricted stock unit turns into one share of MariMed common stock when it vests.

When were the RSUs originally granted to the MariMed (MRMD) executive and how will the rest vest?

The RSUs were granted on November 29, 2024. The remaining RSUs from this grant will vest in four equal installments on May 29, 2026, November 29, 2026, May 29, 2027 and November 29, 2027, under the award agreement.

What position does the reporting person hold at MariMed (MRMD)?

The reporting person, Ryan Crandall, is identified as an officer of MariMed Inc., serving as the company’s Chief Commercial Officer.