Company: VREOF
Filing Date: 2025-05-12
Form Type: 8-K
Source: 0001104659-25-047350
Chunk: 9

Company: Vireo Growth Inc.
Filing Date: 2025-05-12
Form: 8-K
Item: Item 3.01
Chunk 9
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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. The foregoing description of Mr. Macdonald’s Performance-Vested
RSUs is only a summary, does not purport to be complete and is qualified in its entirety by reference to the full text of the Performance-Vested
RSU award agreement for Mr. Macdonald, which is filed as Exhibit 10.4 to this Current Report on Form 8-K and incorporated by reference
herein.

Each RSU represents a
contingent right to receive one Parent Share.