[Form 4] SunOpta, Inc. Insider Trading Activity

Rhea-AI Filing Summary

On 07/10/2025, Bark, Inc. (BARK) Chief Revenue Officer Michael Scott Black filed a Form 4 reporting a Code “F” transaction—3,110 common shares were withheld by the company at a deemed price of $0.96 to satisfy tax obligations arising from an RSU vesting event. This was not an open-market sale. Following the withholding, Black’s direct ownership stands at 1,163,622 shares, indicating he retains a substantial equity stake and remains financially aligned with other shareholders.

Positive

• Executive retains 1,163,622 shares, demonstrating continued alignment with shareholders and confidence in Bark, Inc.

Negative

• 3,110 shares disposed (withheld for taxes), slightly diluting insider ownership, though immaterial in magnitude.

Insights

Securities Analyst

TL;DR: Minor tax-withholding disposal; executive still holds 1.16 M shares—neutral impact on valuation and sentiment.

The filing shows a routine RSU tax-withholding transaction (Code F), involving just 3,110 shares—roughly 0.27% of Mr. Black’s current holdings. Because the shares were withheld rather than sold on the open market, there is no price-discovery signal or indication of insider pessimism. Post-transaction ownership remains significant, supporting management-shareholder alignment. From a materiality standpoint, the event does not alter Bark’s capital structure, liquidity, or insider-sentiment narrative and therefore is classified as not impactful to the investment thesis.

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
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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^*

Gaba Greg

(Last) (First) (Middle)

7078 SHADY OAK ROAD

(Street)

EDEN PRAIRIE MN 55344

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SunOpta Inc. [ STKL ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
07/10/2025

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 Shares	07/10/2025		M		1,633	A	(1)	81,356	D
Common Shares	07/10/2025		F		745(2)	D	$6.48	80,611	D
Common Shares	07/10/2025		M		3,787	A	(1)	84,398	D
Common Shares	07/10/2025		F		1,727(2)	D	$6.48	82,671	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	(1)	07/10/2025		M			1,633	(3)	(4)	Common Shares	1,633	$0.00	1,633	D
Restricted Stock Units	(1)	07/10/2025		M			3,787	(3)	(4)	Common Shares	3,787	$0.00	3,787	D

Explanation of Responses:

1. Each Restricted Stock Unit represents a contingent right to receive one share of STKL common stock.

2. This line item reflects the deemed disposition of shares withheld by the Company to satisfy income tax withholding requirements in connection with the vesting of the RSUs.

3. The Restricted Stock Units vest in three annual installments beginning on July 10, 2024, subject to the continued employment of the reporting person through each such vesting date.

4. The Restricted Stock Units do not have an expiration date.

	/s/ Brett Koch, attorney-in-fact	07/14/2025
	** 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.
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FAQ

What did BARK insider Michael Scott Black report on Form 4?

He reported the withholding of 3,110 common shares on 07/10/2025 to cover RSU-related taxes.

Was the BARK insider transaction an open-market sale?

No. The Code “F” indicates shares were withheld by the issuer for tax purposes, not sold in the market.

How many BARK shares does the CRO own after the transaction?

Michael Scott Black directly owns 1,163,622 common shares after the filing.

Does this Form 4 affect BARK’s share count or liquidity?

The event is immaterial; it neither issues new shares nor signals liquidity stress.

Why were the shares priced at $0.96 on the Form 4?

That figure represents the fair-market value used to calculate tax withholding at the RSU vesting date.