Company: VREOF
Filing Date: 2025-03-11
Form Type: PREM14C
Source: 0001140361-25-008065
Chunk: 288

Company: Vireo Growth Inc.
Filing Date: 2025-03-11
Form: PREM14C
Chunk 288
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. Macdonald 9,500,000 Restricted Stock Units settled in subordinate voting shares of the Company (the “Performance-Vested RSUs”). The Performance-Vested RSUs shall become vested during the term of Mr. Macdonald’s employment with the Company as follows: 1/3 of the Performance-Vested RSUs shall become vested when the 6 month trailing, annualized, AEBITDA exceeds $150,000,000 and the net leverage of the Company is below 2.2x, an additional 1/3 shall become vested when AEBITDA exceeds $165,000,000 and the net leverage of the Company is below 2.2x, and the final 1/3 shall become vested when AEBITDA exceeds $205,000,000 and the net leverage of the Company is below 2.2x. Vesting will accelerate and the Performance-Vested RSUs will become 100% vested in the event that Mr. Macdonald is terminated by the Company for any reason other than for Cause, upon a resignation by Mr. Macdonald for Good Reason, upon Mr. Macdonald’s death or Disability or upon the consummation of a transaction constituting a Change in Control.

Each RSU represents a contingent right to receive one Subordinate Voting Share. If the RSUs were to be issued on March 5, 2025, the market value of the Mr. Mazarakis’ Time-Based RSUs would be approximately $6.8 million and the market value of Mr. Mazarakis’ Performance-Based RSUs would be approximately $6.8 million. If the RSUs were to be issued on March 5, 2025, the market value of Mr. Macdonald’s Time-Based RSUs would be $3.4 million and the market value of Mr. Macdonald’s Performance-Based RSUs would be $3.4 million.

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INFORMATION CONCERNING DIRECTOR COMPENSATION Only non-employee directors receive compensation for their services as directors. For information about the compensation of Mr. Mazarakis, Dr. Kyle Kingsley, and Joshua Rosen, see the section entitled “ Information Concerning Executive Compensation” below. Dr. Kingsley served on the Board for all of 2024. Mr. Rosen resigned from the Board on October 10, 2024. Mr. Mazarakis was appointed to the Board on