Village Farms director exercises 25K options

Village Farms International director David Holewinski exercised stock options to acquire 25,000 Common Shares at $1.09 per share.

Rhea-AI Filing Summary

Village Farms International director David Holewinski exercised stock options to acquire 25,000 Common Shares at $1.09 per share. These options were granted on March 29, 2016 and fully vested on the third anniversary of the grant date.

Following the exercise on January 20, 2026, Holewinski directly holds 229,310 Common Shares. In addition, 45,500 Common Shares are held indirectly through his spouse, Nancy Holewinski. No open-market purchases or sales are reported in this filing; the activity reflects a derivative exercise converting options into common equity.

Insider Trade Summary

25,000 shares exercised/converted

Exercise 3 txns

Insider Holewinski David

Role Director

Type	Security	Shares	Price	Value
Exercise	Options	25,000	$0.00	$0.00
Exercise	Common Shares	25,000	$1.09	$27K
holding	Common Shares	--	--	--

Holdings After Transaction: Options — 0 contracts (Direct); Common Shares — 229,310 shares (Direct); Common Shares — 45,500 shares (Indirect, Held through Spouse (Nancy Holewinski))

Footnotes (1)

1. F1. The options were issued on March 29, 2016 and became fully vested on the third anniversary of the grant date.

Key Figures

Options exercised: 25,000 options Exercise price: $1.09 per share Direct holdings after exercise: 229,310 Common Shares +3 more

6 metrics

Options exercised 25,000 options Exercised on January 20, 2026

Exercise price $1.09 per share Conversion price for 25,000 Common Shares

Direct holdings after exercise 229,310 Common Shares Direct ownership following January 20, 2026 transactions

Indirect holdings 45,500 Common Shares Held through spouse, indicated as indirect ownership

Option grant date March 29, 2016 Options issued; fully vested three years after grant

Option expiration date March 29, 2026 Expiration for the exercised option grant

Key Terms

derivative security, Common Shares, indirect ownership, Exercise or conversion, +1 more

5 terms

derivative security financial

"transaction_code_description: Exercise or conversion of derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

Common Shares financial

"underlying_security_title: Common Shares"

Common shares are the basic units of ownership in a company that give holders a claim on profits and a right to vote on key matters, like electing the board. Think of them as membership cards in a club: they let you share in successes and losses, but in a bankruptcy or liquidation they are paid after creditors and preferred shareholders, so their value can swing more and matters for assessing risk and potential return.

indirect ownership financial

"ownership_type: indirect with nature_of_ownership Held through Spouse"

Exercise or conversion financial

"transaction_action: derivative exercise/conversion"

Held through Spouse financial

"nature_of_ownership: Held through Spouse (Nancy Holewinski)"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Village Farms (VFF) report for David Holewinski?

Village Farms reported that director David Holewinski exercised stock options to acquire 25,000 Common Shares at $1.09 per share. This is a conversion of previously granted options into common stock, not an open-market purchase or sale.

How many Village Farms (VFF) shares does David Holewinski hold after this Form 4?

After the reported transactions, David Holewinski directly holds 229,310 Common Shares of Village Farms. Additionally, 45,500 Common Shares are held indirectly through his spouse, Nancy Holewinski, as disclosed in the ownership section of the filing.

What was the exercise price of the options used by the Village Farms (VFF) director?

The options exercised by director David Holewinski had an exercise price of $1.09 per underlying Common Share. Exercising these options on January 20, 2026 converted 25,000 option units into 25,000 Common Shares at that fixed price.

Were the Village Farms (VFF) options recently granted or older awards?

The options were originally issued on March 29, 2016 and became fully vested on the third anniversary of that grant date. The January 20, 2026 exercise reflects the use of long-standing, fully vested options rather than a new award.

Does the Village Farms (VFF) Form 4 show any insider share sales?

The Form 4 does not report any open-market sales by David Holewinski. It shows the exercise of options coded as an M transaction and the resulting Common Share holdings, indicating a derivative conversion rather than a sale into the market.

How are indirect holdings reported for Village Farms (VFF) director David Holewinski?

The filing shows 45,500 Common Shares held indirectly through his spouse, Nancy Holewinski. These indirect holdings are labeled with an “I” ownership code and the nature of ownership description “Held through Spouse (Nancy Holewinski).”

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/08/2026 - 04:20 PM EDT Learn about SEC filing dates

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^*

Holewinski David

(Last) (First) (Middle)

C/O VILLAGE FARMS INTERNATIONAL, INC

90 COLONIAL CENTER PARKWAY, SUITE 100

(Street)

LAKE MARY FLORIDA 32746

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Village Farms International, Inc. [ VFF ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
01/20/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Shares	01/20/2026		M		25,000	A	$1.09	229,310	D
Common Shares								45,500	I	Held through Spouse (Nancy Holewinski)

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
Options	$1.09	01/20/2026		M			25,000	(1)	03/29/2026	Common Shares	25,000	$0	0	D

Explanation of Responses:

1. The options were issued on March 29, 2016 and became fully vested on the third anniversary of the grant date.

	/s/ Steve Ruffini	04/08/2026
	** 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)