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Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 8, 2020



Tilray, Inc.

(Exact name of Registrant as Specified in Its Charter)




Delaware   001-38594   82-4310622

(State or Other Jurisdiction

of Incorporation)



File Number)


(IRS Employer

Identification No.)


1100 Maughan Rd.,

Nanaimo, BC, Canada

  V9X 1J2
(Address of Principal Executive Offices)   (Zip Code)

Registrant’s Telephone Number, Including Area Code: (844) 845-7291

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)



Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):


Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class





Name of each exchange

on which registered

Class 2 Common Stock, $0.0001 par value per share   TLRY   The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐




Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b)      On October 8, 2020 (the “Separation Date”), Tilray, Inc. (the “Company”) and Edward Wood Pastorius, Jr., the Company’s Chief Revenue Officer, reached the mutual decision to have Mr. Pastorius step down as Chief Revenue Officer, effective as of the Separation Date. Mr. Pastorius’s employment will cease on November 15, 2020.

Pursuant to an employment agreement by and between the Company and Mr. Pastorius (the “Employment Agreement”), if Mr. Pastorius is terminated without cause or resigns for good reason, as such terms are defined in the Employment Agreement, he will receive a severance payment equal to 18 months of his base salary and COBRA benefits for up to 18 months after such termination or resignation (the “Severance Payments”). The Severance Payments are conditional on Mr. Pastorius delivering, and not revoking, in the form provided by the Company, a separation agreement including general release of claims against the Company or its successor, its subsidiaries and their respective directors, officers and stockholders and other related parties and allowing such release to become effective.


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


    Tilray, Inc.
Date: October 15, 2020     By:  

/s/ Brendan Kennedy

      Brendan Kennedy
      President and Chief Executive Officer
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