Verano CPO settles RSUs, exits officer role
Verano Holdings Corp. Chief People Officer Destiny Lynn Thompson reported equity compensation changes tied to her departure.
Rhea-AI Filing Summary
Verano Holdings Corp. Chief People Officer Destiny Lynn Thompson reported equity compensation changes tied to her departure. On April 20, 2026, 51,295 restricted stock units converted into Common Stock, and 12,492 shares were withheld by Verano to cover income tax obligations, not as an open-market sale. Certain restricted stock units granted on June 1, 2024 and June 1, 2025 vested early on April 18, 2026 and settled on April 20, 2026 under a Separation Agreement and General Release. Unvested restricted stock units not subject to accelerated vesting were forfeited and will not vest. After these transactions, Thompson directly owned 303,035 shares of Common Stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
51,295 shares exercised/converted
Exercise
4 txns
Insider
Thompson Destiny Lynn
Role
Chief People Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 51,295 | $0.00 | $0.00 |
| Disposition | Restricted Stock Units | 80,459 | $0.00 | $0.00 |
| Exercise | Common Stock, par value $0.001 | 51,295 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock, par value $0.001 | 12,492 | $1.18 | $15K |
Holdings After Transaction:
Restricted Stock Units — 0 contracts (Direct);
Common Stock, par value $0.001 — 303,035 shares (Direct)
Footnotes (5)
- F1. This transaction represents the settlement of restricted stock units into Common Stock, par value $0.001.
- F2. Represents the number of shares of Common Stock, par value $0.001 that have been withheld by the issuer to satisfy its income tax withholding and remittance obligations in connection with the net settlement of the restricted stock units and does not represent a sale.
- F3. The restricted stock units disposed in this transaction were granted under the Verano Holdings Corp. Stock and Incentive Plan on June 1, 2024 and June 1, 2025.
- F4. The restricted stock units vested, on an accelerated basis, on April 18, 2026 and settled on April 20, 2026 pursuant to the Separation Agreement and General Release (the "Separation Agreement") entered into between Destiny Thompson and Verano Holdings Corp.
- F5. The Reporting Person separated from her position as an officer of the Issuer. The outstanding and unvested restricted stock units that were not subject to accelerated vesting under the Separation Agreement held by the Reporting Person were forfeited upon her separation and will not vest.
Key Figures
RSUs converted: 51,295 shares
Shares withheld for taxes: 12,492 shares at $1.18
Post-transaction holdings: 315,527 shares
+2 more
5 metrics
RSUs converted
51,295 shares
Restricted stock units settled into Common Stock on April 20, 2026
Shares withheld for taxes
12,492 shares at $1.18
Withheld by issuer to satisfy income tax obligations
Post-transaction holdings
315,527 shares
Common Stock directly owned after reported transactions
RSUs disposed to issuer
80,459 units
Restricted stock units disposed in issuer transaction tied to separation
Tax withholding share price
$1.18 per share
Value used for shares withheld to cover income tax obligations
Key Terms
restricted stock units, Separation Agreement and General Release, tax withholding, disposition to issuer
4 terms
restricted stock units financial
"This transaction represents the settlement of restricted stock units into Common Stock"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Separation Agreement and General Release financial
"settled on April 20, 2026 pursuant to the Separation Agreement and General Release"
tax withholding financial
"withheld by the issuer to satisfy its income tax withholding and remittance obligations"
Tax withholding is the practice of taking a portion of a payment—such as wages, dividends, or sale proceeds—before it reaches the recipient and sending that portion to the tax authority as an advance on the recipient’s eventual tax bill. For investors it matters because withholding reduces immediate cash received and affects after‑tax returns, estimated tax payments, and whether you may owe more or receive a refund when taxes are finally calculated, like having a small automatic savings set aside for your tax bill.
disposition to issuer financial
"The restricted stock units disposed in this transaction were granted under the Verano Holdings Corp. Stock and Incentive Plan"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Verano (VRNO) Chief People Officer Destiny Thompson report in this Form 4?
Destiny Thompson reported settlement of equity awards linked to her exit. 51,295 restricted stock units converted into Common Stock, and additional units were either withheld for taxes or forfeited under a separation agreement with Verano Holdings Corp.
What happened to Destiny Thompson’s unvested Verano (VRNO) restricted stock units?
Unvested restricted stock units not covered by accelerated vesting under the Separation Agreement were forfeited upon her separation. The filing notes these forfeited units will not vest, reducing her future potential equity compensation in Verano Holdings Corp.
What does the Separation Agreement mean for Destiny Thompson’s role at Verano (VRNO)?
The filing explains Thompson separated from her position as an officer of Verano Holdings Corp. The Separation Agreement accelerated vesting for certain restricted stock units and triggered settlement, while remaining unvested units were forfeited and will not vest going forward.
AI-generated analysis. How Rhea-AI works. Not financial advice.
