4 unchanged sentences
High Trading Price
−Removed: Year Ending December 31, 2023
+Added: Year Ending March 31, 2024
First Quarter (through March 1, 2024)
12 unchanged sentences
High Trading Price
−Removed: Year Ending December 31, 2023
+Added: Year Ending March 31, 2024
First Quarter (through March 1, 2024)
9 unchanged sentences
First Quarter (March 31, 2022)
−Removed: 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.
+Added: As of March 1, 2024, there were 137 holders of record of our Subordinate Voting Shares, 167 holders of record of our Multiple Voting Shares, and 0 holders of record of our Super Voting Shares.
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.
−Removed: In addition, as a holding company, our ability to pay dividends depends on our receipt of cash dividends from our operating subsidiaries, which may further restrict our ability to pay dividends as a result of the laws of their respective jurisdictions of organization, agreements of our subsidiaries or covenants under future indebtedness that the Company or our subsidiaries may incur.
+Added: In addition, as a holding company, our ability to pay dividends depends on our receipt of cash dividends from our operating subsidiaries, which
+Added: may further restrict our ability to pay dividends as a result of the laws of their respective jurisdictions of organization, agreements of our subsidiaries or covenants under future indebtedness that the Company or our subsidiaries may incur.
See “ Risk Factors - Risks Related to the Company’s Securities – We do not intend to pay dividends on our Shares and, consequently, the ability of investors to achieve a return on their investment will depend entirely on appreciation in the price of the Subordinate Voting Shares .”
−Removed: Equity Compensation Plans
−Removed: 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.
−Removed: All outstanding options under the 2018 Equity Incentive Plan, as well as all outstanding compensation warrants, settle in Subordinate Voting Shares.
−Removed: 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.
−Removed: All restricted stock units issued under the 2019 Equity Incentive Plan or an employment agreement settle in Subordinate Voting Shares.
−Removed: Figures below are presented on an as-converted basis.
−Removed: Number of securities
−Removed: to be issued upon
−Removed: Weighted-average
−Removed: remaining available
−Removed: exercise price of
−Removed: for future issuance
−Removed: outstanding options,
−Removed: outstanding options,
−Removed: Plan Category
−Removed: warrants and RSUs
−Removed: warrants and RSUs
−Removed: compensation plans
−Removed: Equity compensation plans approved by security holders
−Removed: Equity compensation plans not approved by security holders
−Removed: 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 to time, on an as converted to Subordinate Voting Shares basis.
−Removed: No future awards will be made under the 2018 Plan.
−Removed: Awards under the 2019 Plan may be made in any form permitted under the 2019 Plan, in any combinations approved by the Board of Directors.
−Removed: For the purposes of this report, the term “as converted to Subordinate Voting Shares basis” includes the conversion of the Multiple Voting Shares and Super Voting Shares into Subordinate Voting Shares.
−Removed: In January 2018, Vireo U.S.
−Removed: adopted the 2018 Plan, which permitted the Company to grant incentive stock options, restricted shares, restricted share units, or other awards.
−Removed: The 2018 Plan was not approved by shareholders.
−Removed: Under the terms of the 2018 Plan, a total of 1,000,000 common shares were reserved for issue.
−Removed: The exercise price for incentive stock options issued under the 2018 Plan were to be set by the committee (as defined under the 2018 Plan) but were not to be less 100% of the fair market value of Vireo U.S.’s shares on the date of grant.
−Removed: Incentive stock options to be issued were to have a maximum term of 10 years from the date of grant.
−Removed: The incentive stock options vested at the discretion of the Board.
+Added: Purchases of Equity Securities by the Issuer and Affiliated Purchasers
+Added: There was no share repurchase activity by the issuer or affiliates during the quarter ended December 31, 2023.
Recent Sales of Unregistered Securities
−Removed: We did not issue any unregistered securities during the quarter ended December 31, 2022.
−Removed: The following are selected financial data derived from our Consolidated Financial Statements for the years ended December 31, 2022 and 2021.
−Removed: The data set forth below should be read in conjunction with Item 7 “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the Consolidated Financial Statements in Item 8 of this Annual Report on Form 10-K.
−Removed: Our Consolidated Financial Statements have been prepared in accordance with GAAP on a going-concern basis that contemplates continuity of operations and realization of assets and liquidation of liabilities in the ordinary course of business.
−Removed: The selected consolidated financial information set forth below may not be indicative of our future performance.
−Removed: Twelve Months Ended
−Removed: Retail Revenue
−Removed: Wholesale Revenue
−Removed: Other Revenue
−Removed: Total Revenues, net of discounts
−Removed: Cost of Goods Sold
−Removed: Total Expenses
−Removed: Other Income (Expense)
−Removed: Operating Loss
−Removed: Before Provision for Income Taxes
+Added: Except as previously disclosed, we did not issue any unregistered securities during the year ended December 31, 2023.
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.