32 unchanged sentences
As of March 1, 2023, there were 127 holders of record of our Subordinate Voting Shares, 173 holders of record of our Multiple Voting Shares, and 1 holder of record of our Super Voting Shares.
−Removed: We have not paid, and does not in the foreseeable future intend to pay, any dividends on the Subordinate Voting Shares or any other equity.
+Added: We have not paid, and do not in the foreseeable future intend to pay, any dividends on the Subordinate Voting Shares or any other equity.
The declaration and payment of future dividends to holders of our Shares will be at the discretion of the Board of Directors and will depend upon many factors, including our financial condition, earnings, legal requirements, restrictions in our debt agreements and other factors deemed relevant by the Board of Directors.
2 unchanged sentences
Equity Compensation Plans
−Removed: The following table sets forth, as of December 31, 2021, securities authorized for issuance under each of the 2018 Equity Incentive Plan (the “ 2018 Plan ”) and the 2019 Equity Incentive Plan (the “ 2019 Plan ”).
+Added: The following table sets forth, as of December 31, 2022, securities authorized for issuance under each of the 2018 Equity Incentive Plan (the “ 2018 Plan ”), the 2019 Equity Incentive Plan (the “ 2019 Plan ”), and any equity issued under an employment agreement.
All outstanding options under the 2018 Equity Incentive Plan, as well as all outstanding compensation warrants, settle in Subordinate Voting Shares.
−Removed: Outstanding options under the 2019 Equity Incentive Plan settle in either Subordinate Voting Shares of Vireo or Multiple Voting Shares, at the Company’s option.
+Added: Outstanding options and under the 2019 Equity Incentive Plan settle in either Subordinate Voting Shares of Vireo or Multiple Voting Shares, at the Company’s option.
+Added: All restricted stock units issued under the 2019 Equity Incentive Plan or an employment agreement settle in Subordinate Voting Shares.
Figures below are presented on an as-converted basis.
8 unchanged sentences
Plan Category
−Removed: warrants and rights
−Removed: warrants and rights
+Added: warrants and RSUs
+Added: warrants and RSUs
compensation plans
2 unchanged sentences
In January 2019, the Company adopted the 2019 Plan, which was approved by shareholders.
−Removed: Subject to adjustment provisions as provided in the 2019 Plan, the maximum number of Subordinate Voting Shares that may be issued under the 2019 Equity Incentive Plan is equal to 10% of the number of issued and outstanding Subordinate Voting Shares from time
−Removed: to time, on an as converted to Subordinate Voting Shares basis.
+Added: Subject to adjustment provisions as provided in the 2019 Plan, the maximum number of Subordinate Voting Shares that may be issued under the 2019 Equity Incentive Plan is equal to 10% of the number of issued and outstanding Subordinate Voting Shares from time to time, on an as converted to Subordinate Voting Shares basis.
No future awards will be made under the 2018 Plan.
10 unchanged sentences
We did not issue any unregistered securities during the quarter ended December 31, 2022.
−Removed: Selected Financial Data
The following are selected financial data derived from our Consolidated Financial Statements for the years ended December 31, 2022 and 2021.
13 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.