Cannabist Co Reports Executive Changes & Compensation on Jan 15

TL;DR

**Cannabist Co just announced executive changes and compensation details, watch for strategic shifts.**

AI Summary

Cannabist Co Holdings Inc. filed an 8-K on January 19, 2024, reporting events from January 15, 2024, related to changes in its executive team and their compensation. This filing indicates potential shifts in leadership and strategic direction, which could impact the company's future performance and, consequently, the value of its stock for investors.

Why It Matters

Changes in executive leadership and compensation can signal new strategies or financial health concerns, directly influencing investor confidence and stock valuation.

Risk Assessment

Risk Level: medium — Executive changes can introduce uncertainty about future company direction, but the specific details of the changes are not fully disclosed in this summary, making the risk moderate.

Analyst Insight

Investors should monitor subsequent filings from Cannabist Co Holdings Inc. for specific details regarding the executive changes and compensation, as these will provide clearer insights into the company's strategic direction and potential impact on its stock.

Key Players & Entities

• Cannabist Co Holdings Inc. (company) — the registrant filing the 8-K
• January 15, 2024 (date) — date of the earliest event reported
• January 19, 2024 (date) — date the 8-K was filed
• British Columbia (company) — state of incorporation for Cannabist Co Holdings Inc.
• New York (company) — city and state of Cannabist Co Holdings Inc.'s principal executive offices

Forward-Looking Statements

• Cannabist Co Holdings Inc. will provide more detailed information about the executive changes and compensatory arrangements in future filings. (Cannabist Co Holdings Inc.) — medium confidence, target: Q1 2024

FAQ

Key Financial Figures

• $500,000 — Mr. Hart will receive a base salary of $500,000 and has a target bonus percentage of 10

Filing Documents

• d597737d8k.htm (8-K) — 27KB
• d597737dex101.htm (EX-10.1) — 10KB
• 0001193125-24-011249.txt ( ) — 153KB
• ck0001776738-20240115.xsd (EX-101.SCH) — 2KB
• ck0001776738-20240115_lab.xml (EX-101.LAB) — 16KB
• ck0001776738-20240115_pre.xml (EX-101.PRE) — 10KB
• d597737d8k_htm.xml (XML) — 3KB

02

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Nicholas Vita Departure On January 15, 2024, Nicholas Vita retired from his position as Chief Executive Officer of The Cannabist Company Holdings Inc., a British Columbia corporation (the " Company "). Mr. Vita will continue to serve as a director of the Company. Separation arrangements with Mr. Vita will be disclosed when finalized. David Hart Appointment On January 15, 2024, David Hart was appointed Chief Executive Officer of the Company. Mr. Hart, age 47, was appointed President and Chief Operating Officer of the Company on July 31, 2023. Mr. Hart joined the Company in 2016 as Chief Risk Officer and became Chief Operating Officer in 2018. Prior to joining the Company, Mr. Hart served as Chief Operating Officer of Abyrx, a venture capital backed medical device company. Prior to his time at Abyrx, Mr. Hart was Chief Financial Officer and Chief Investment Officer at Alpine Capital, a family investment office for the Ranawat Orthopedic Group at the Hospital for Special Surgery. Mr. Hart started his career in financial services at Thomas Weisel Partners and Duff & Phelps. Mr. Hart has an MBA from Columbia University and is a graduate of Duke University. On January 15, 2024, the Company entered into a second amendment (the " Amendment ") to the employment agreement between the Company and Mr. Hart, dated April 26, 2019, as amended on January 1, 2022. Pursuant to the Amendment, Mr. Hart will receive a base salary of $500,000 and has a target bonus percentage of 100%, with his current target annual equity grant to be determined by the compensation committee of the board of the Company. The foregoing description of the Amendment is subject to and qualified in its entirety by reference to the full text of the Amendment, a copy of which is filed herewith as Exhibit 10.1 and is incorporated herein by reference

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Amendment No. 2 dated January 15, 2024 to Employment Agreement between The Cannabist Company Holdings Inc. and David J. Hart 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. THE CANNABIST COMPANY HOLDINGS INC. By: /s/ David Sirolly Name: David Sirolly Title: Chief Legal Officer & General Counsel Date: January 19, 2024

View Full Filing

View this 8-K filing on SEC EDGAR