Item 5. Market for Registrant’s Common Equity
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED SHAREHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES.
Our common shares are traded on Nasdaq and the TSX under the symbol “CRON.”
Holders
As of February 23, 2026, there were approximately 140 holders of record of our common shares. This number of holders of record does not represent the actual number of beneficial owners of our common shares because shares are frequently held in “street name” by securities dealers and others for the benefit of individual owners who have the right to vote their shares.
Dividends
As of the date of this Annual Report, we have not declared any dividends or made any distributions on our common shares. Furthermore, we have no current intention to declare dividends on our common shares in the foreseeable future. Any decision to pay dividends on our common shares in the future will be at the discretion of the Board and will depend on, among other things, our results of operations, current and anticipated cash requirements and surplus, financial condition, any future contractual restrictions and financing agreement covenants, our ability to meet solvency tests imposed by corporate law and other factors that the Board may deem relevant.
Securities Authorized for Issuance under Equity Compensation Plans
Information concerning securities authorized for issuance under equity compensation plans will be set forth in the Company’s definitive proxy statement for its 2026 Annual Meeting of Shareholders or an amendment to this Annual Report to be filed within 120 days of our fiscal year end.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
Share repurchase activity during the three months ended December 31, 2025 was as follows (in thousands, except share and per share amounts):
Period Number of shares purchased Weighted average price per share Purchased as part of publicly announced repurchase plan (i)
Approximate dollar value of shares that may yet be purchased under repurchase plan (i)
Approximate shares that may yet be purchased under repurchase plan
October 1, 2025 to October 31, 2025 — — $ — $ 44,535 16,478,138
November 1, 2025 to November 30, 2025 499,502 $ 2.45 $ 1,228 $ 43,310 15,978,636
December 1, 2025 to December 31, 2025 1,127,166 $ 2.65 $ 3,042 $ 40,326 14,851,470
1,626,668 $ 4,270
(i) On May 7, 2025, the Company was authorized by the Board to purchase up to $50,000 of the Company’s common shares under a share repurchase program announced on May 8, 2025, of which $9,741 had been repurchased as of December 31, 2025. The repurchase program is expected to terminate on May 13, 2026, unless earlier terminated.
Recent Sales of Unregistered Securities
None.
Performance Graph
The following performance graph compares the cumulative total shareholder return of our common shares as listed on Nasdaq with the cumulative total return of the S&P 500 Index and a market-weighted index of publicly traded peers over the 60-month period beginning on December 31, 2020, and ending on December 31, 2025. The peer group includes Aurora Cannabis Inc., Canopy Growth Corporation, Green Thumb Industries, Inc., Organigram Holdings Inc., Tilray Inc., and Trulieve Cannabis Corp., (the “Peer Group”). The graph assumes that $100 is invested in each of our common shares, the S&P 500 Index, and the indices of publicly traded peers on December 31, 2020, and that all dividends, if applicable, were reinvested. Past performance may not be indicative of future performance.
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Date Cronos Group Inc. S&P 500 Peer Group
December 31, 2020 $ 100.00 $ 100.00 $ 100.00
March 31, 2021 $ 136.31 $ 106.17 $ 61.06
June 30, 2021 $ 123.92 $ 115.25 $ 73.73
September 30, 2021 $ 81.56 $ 115.92 $ 69.83
December 31, 2021 $ 56.48 $ 128.71 $ 122.46
March 31, 2022 $ 56.05 $ 122.79 $ 169.90
June 30, 2022 $ 40.63 $ 103.02 $ 146.42
September 30, 2022 $ 40.63 $ 97.99 $ 100.28
December 31, 2022 $ 36.59 $ 105.40 $ 74.25
March 31, 2023 $ 27.95 $ 113.30 $ 65.56
June 30, 2023 $ 28.39 $ 123.20 $ 28.80
September 30, 2023 $ 28.82 $ 119.17 $ 26.57
December 31, 2023 $ 30.12 $ 133.10 $ 24.07
March 31, 2024 $ 37.61 $ 147.15 $ 20.17
June 30, 2024 $ 33.57 $ 153.46 $ 13.76
September 30, 2024 $ 31.56 $ 162.49 $ 20.54
December 31, 2024 $ 29.11 $ 166.40 $ 19.06
March 31, 2025 $ 26.08 $ 159.30 $ 27.20
June 30, 2025 $ 27.52 $ 176.73 $ 20.84
September 30, 2025 $ 40.06 $ 191.08 $ 21.54
December 31, 2025 $ 37.90 $ 196.16 $ 13.91
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ITEM 6. RESERVED
Not applicable.