Company: CGC
Filing Date: 2025-07-09
Form Type: 8-K
Source: 0001104659-25-066600
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Company: Canopy Growth Corp
Filing Date: 2025-07-09
Form: 8-K
Item: Item 5.02
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Item 5.02      Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of  

Termination of Chief Financial Officer

On July 9, 2025, Canopy Growth Corporation (the “ Company”)
terminated the employment of its Chief Financial Officer, Judy Hong, effective immediately (the “ Separation”). Ms. Hong’s
termination was not related to the Company’s financial or operating results or to any disagreements or concerns regarding the Company’s
financial or reporting practices. Ms. Hong was terminated “without cause” under the terms of her employment agreement
with a wholly owned subsidiary of the Company, dated March 29, 2022 (as amended, the “ Hong Employment Agreement”). As
previously disclosed, subject to Ms. Hong’s compliance with the terms of the Hong Employment Agreement including Ms. Hong’s
entry into a separation, release and waiver of liability, Ms. Hong will be entitled to the payments and benefits provided for by
the Hong Employment Agreement following a termination without cause. Ms. Hong will also be entitled to payment of her retention bonus
of US$150,000 pursuant to the retention agreement entered into with the Company on August 19, 2024. There are no family relationships
between Ms. Hong and any other officer or any of the directors of the Company. There are no transactions in which Ms. Hong has
an interest requiring disclosure under Item 404(a) of Regulation S-K.

Appointment of Interim Chief Financial Officer

Effective as of the Separation, the Company appointed its current Vice
President, Finance, Thomas Stewart, as the Company’s interim Chief Financial Officer while the Company conducts a search for a permanent
Chief Financial Officer.

Thomas Stewart, age 43, has served as the
Company’s Vice President, Finance since August 2023, where he is responsible for a wide range of the Company’s
finance functions, including external reporting, financial close technical accounting, financial close processes, transactional
services, tax, FP& A, commercial finance, and operations finance. Prior to that role, Mr. Stewart served as the
Company’s Chief Accounting Officer from April 2019 until August 2023. Prior to joining the Company in
April 2019, Mr. Stewart spent over 10 years at Constellation Brands, Inc., where he held a variety of roles within
the finance organization, most recently serving as Senior Director, Global Accounting from June 2018 to April