Company: VREOF
Filing Date: 2025-05-09
Form Type: DEF 14A
Source: 0001140361-25-018064
Chunk: 21

Company: Vireo Growth Inc.
Filing Date: 2025-05-09
Form: DEF 14A
Chunk 21
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 the discretion of the Board. Currently, Mr. Mazarakis serves as our Chief Executive Officer and Co-Executive Chairman alongside Dr. Kingsley. The Board believes that this leadership structure is appropriate for us at this time. 12

TABLE OF CONTENTS

Our Chief Executive Officer is responsible for recommending strategic decisions and capital allocation to the Board and to ensure the execution of the recommended plans. The Co-Executive Chairmen’s responsibilities include ensuring that our Board works together as a cohesive team with open communication and that a process is in place by which the effectiveness of our Board, its committees and its individual directors can be evaluated on a regular basis. The Co-Executive Chairmen also act as a liaison between the Board and management. Director Independence The independence of our directors is determined under the Nasdaq listing standards (“ Nasdaq Rules”) and within the meaning of the terms defined in sections 1.4 and 1.5 of Canadian National Instrument 52-110 – Audit Committees(“ NI 52-110”). The Board has determined that three of our five current directors are independent under the Nasdaq Rules and NI 52-110, which is the majority of our Board: Ross M. Hussey, Victor E. Mancebo, and Judd T. Nordquist. Dr. Kyle E. Kingsley and John Mazarakis are executive officers of Vireo and are therefore not independent. Mr. Joshua Rosen also served as a director of the Company during 2024. Mr. Rosen was an executive officer of Vireo and therefore not independent. The following table summarizes the current membership of the Board and its committees and the independence of each Board member:

| Director Name     |     | Independent |     | Committee                                                  |
| Dr. Kyle Kingsley |     | N           |     | —                                                          |
| John Mazarakis    |     | N           |     | —                                                          |
| Ross Hussey       |     | Y           |     | Nominating, Corporate Governance and Compensation (chair)  
 Audit (member)                                             |
| Victor Mancebo    |     | Y           |     | Audit (member)                                             
 Nominating, Corporate Governance and Compensation (member) |
| Judd Nordquist    |     | Y           |     | Audit (chair)                                              
 Nominating, Corporate Governance and Compensation (member) |

The independent directors meet in executive session, without the presence of non-independent directors and members of management, in conjunction with each regularly scheduled meeting of the Board.