Company: VREOF
Filing Date: 2025-03-07
Form Type: PRE 14C
Source: 0001140361-25-007601
Chunk: 304

Company: Vireo Growth Inc.
Filing Date: 2025-03-07
Form: PRE 14C
Chunk 304
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 for Dr. Kingsley’s resignation as Chief Executive Officer and his appointment to the role of Executive Chairman of Vireo, (ii) lowered his annual base compensation to $260,000 per year, notwithstanding anything to the contrary in his employment agreement, and (iii) provides that all calculations of payments due to Dr. Kingsley as a result of a future separation of his employment shall be made as if his base salary were $360,000 per year. All other terms of Dr. Kingsley’s employment agreement, as previously amended, remained in effect.

Patrick Peters: On December 1, 2020, we entered into an employment agreement with Patrick Peters, in which he agreed to serve as Vireo’s Executive Vice President, Retail for an initial term of two years (the “Peters Employment Agreement”). Pursuant to the agreement, Mr. Peters received an annual base salary of $200,000, with a potential annual cash bonus at our Chief Executive Officer’s discretion and in an amount determined by our Chief Executive Officer. We entered into both the first and second amendments to the Peters Employment Agreement on February 2, 2022 (collectively the “Amended Peters Employment Agreement”). The Amended Peters Employment Agreement also provided a grant of stock options to purchase 247,141 Subordinate Voting Shares and a grant of 205,777 restricted stock units, each of which represents the right to receive one Subordinate Voting Share. The Peters Employment Agreement terminated when he resigned from his position effective June 14, 2024.

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TABLE OF CONTENTS

Outstanding Equity Awards at 2024 Fiscal Year-End The following table provides information about outstanding equity awards for the NEOs as of December 31, 2024.

| Name                 |           |     |         Number of 
        Securities 
        Underlying 
       Unexercised 
 Equity Awards (#) 
       Exercisable |              |     | Number of         
 Securities        
 Underlying        
 Unexercised       
 Equity Awards (#) 
 Unexercisable     |   |     | Equity       
 Incentive    
 Plan Awards: 
 Number of    
 Securities   
 Underlying   
 Unexercised  
 Unearned     
 Options      
 (#)          |      |     | Exercise 
    Price 
      ($) |                   |     | Option             
 Expiration         
 Date               |
| Dr. Kyle E. Kingsley |           |     |           435,431 |              |     | 197,924(