Statement of Changes in Beneficial Ownership (4)
October 23 2020 - 4:37PM
Edgar (US Regulatory)
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
Boockvar Peter |
2. Issuer Name and Ticker or Trading Symbol
GENERAL CANNABIS CORP
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CANN
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below)
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(Last)
(First)
(Middle)
C/O GENERAL CANNABIS CORP, 6565 EAST EVANS AVENUE |
3. Date of Earliest Transaction
(MM/DD/YYYY)
9/11/2020 |
(Street)
DENVER, CO 80224
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security (Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code (Instr. 8)
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4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. 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 | 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 of Derivative Security: 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 |
Option | $0.67 | 9/11/2020 | | D (1) | | | 37500 | (1) | 1/21/2025 | Common Stock | 37500 | $0 (1) | 0 | D | |
Option | $0.67 | 9/11/2020 | | A (1) | | 37500 | | (1) | 1/21/2027 | Common Stock | 37500 | $0 (1) | 37500 | D | |
Option | $0.39 | 9/11/2020 | | D (2) | | | 37500 | (2) | 4/22/2025 | Common Stock | 37500 | $0 (2) | 0 | D | |
Option | $0.39 | 9/11/2020 | | A (2) | | 37500 | | (2) | 4/22/2027 | Common Stock | 37500 | $0 (2) | 37500 | D | |
Explanation of Responses: |
(1) | The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on January 21, 2020 and provides vesting over a one year period. The new option is immediately exercisable. |
(2) | The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on April 22, 2020 and provides vesting over a one year period. The new option is immediately exercisable. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Boockvar Peter C/O GENERAL CANNABIS CORP 6565 EAST EVANS AVENUE DENVER, CO 80224 | X |
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Signatures
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By /s/ Peter Boockvar | | 10/20/2020 |
**Signature of Reporting Person | Date |
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