MariMed (MRMD) Officer Reports 62,901 RSUs Vested; 18,462 Shares Withheld

Rhea-AI Filing Summary

Ryan Crandall, Chief Commercial Officer of MariMed, Inc. (MRMD), reported equity changes on 09/15/2025. On that date 62,901 restricted stock units (RSUs) vested and are convertible one-for-one into common shares. The issuer withheld 18,462 shares to satisfy tax withholding related to the RSU vesting. Following these transactions the reporting person is shown as beneficially owning 727,667 shares of common stock. The RSUs were originally granted on May 9, 2025, and the remaining portion of that award is scheduled to vest on December 15, 2025 under the award agreement.

Positive

• Transparent reporting of RSU vesting and tax-withholding consistent with Section 16 requirements
• Vested RSUs convert one-for-one into common shares, clarifying dilution from the award

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine insider RSU vesting and tax-withholding; modest net increase in issued shares and updated beneficial ownership.

The filing documents an executive compensation event: 62,901 RSUs vested and converted one-for-one into common stock, with 18,462 shares withheld by the issuer for tax obligations. This is a standard post-vesting reporting item and does not indicate additional open-market purchases or sales. Beneficial ownership is updated to 727,667 shares. The remaining RSUs from the May 9, 2025 grant vest on December 15, 2025, so further disclosures are possible when those vest.

Corporate Governance Expert

TL;DR: Governance-wise this is an ordinary disclosure of awarded RSU vesting and tax withholding by an officer.

The filing shows proper Section 16 reporting for an officer-level equity award vesting. The form indicates the transactions were award-related (codes M and F) rather than open-market trades, consistent with compensation plan mechanics. All material elements required for Form 4 appear present: transaction dates, amounts, withholding detail, and vesting schedule for remaining RSUs.

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^*

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)
09/15/2025

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	09/15/2025		M		62,901	A	$0(1)	746,129	D
Common stock	09/15/2025		F		18,462(2)	D	$0.1374	727,667	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)	09/15/2025		M			62,901	(3)	(3)	Common Stock, par value $.001 per share	62,901	$0	62,902	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 May 9, 2025; the remaining RSUs will vest on December 15, 2025 in accordance with the terms of an award agreement between the Issuer and the Reporting Person.

Remarks:

	/s/ Ryan Crandall	09/16/2025
	** 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 transactions did MRMD insider Ryan Crandall report on Form 4?

On 09/15/2025 Mr. Crandall reported 62,901 RSUs vested (converted 1:1 to common stock) and 18,462 shares were withheld

How many MRMD shares does Ryan Crandall beneficially own after the transactions?

Following the reported transactions the filing shows Mr. Crandall beneficially owns 727,667 shares of common stock.

Were these open-market trades or compensation-related transactions?

These were compensation-related transactions (RSU vesting and tax withholding), indicated by transaction codes M and F on the Form 4.

When were the RSUs originally granted and when do remaining RSUs vest?

The RSUs were granted on May 9, 2025, and the remaining RSUs are scheduled to vest on December 15, 2025 under the award agreement.

What position does the reporting person hold at MRMD?

The Form 4 identifies the reporting person as an officer, specifically the Chief Commercial Officer of MariMed, Inc.