# EDGAR Filing Document

**Accession Number:** 0001848416
**File Stem:** 0001641172-25-026013
**Filing Date:** 2025-8
**Character Count:** 19097
**Document Hash:** dd35e9f95721a100a716c4a5dfc655b3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001641172-25-026013.hdr.sgml**: 20250829

**ACCESSION NUMBER**: 0001641172-25-026013

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250829

**DATE AS OF CHANGE**: 20250829

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Verano Holdings Corp.
- **CENTRAL INDEX KEY:** 0001848416
- **STANDARD INDUSTRIAL CLASSIFICATION:** AGRICULTURE PRODUCTION - CROPS [0100]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 981583243
- **STATE OF INCORPORATION:** A1
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-93072
- **FILM NUMBER:** 251281505

**BUSINESS ADDRESS:**
- **STREET 1:** 224 W HILL STREET
- **STREET 2:** SUITE 400
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60610
- **BUSINESS PHONE:** 312-265-0730

**MAIL ADDRESS:**
- **STREET 1:** 224 W HILL STREET
- **STREET 2:** SUITE 400
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60610
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Archos George Peter
- **CENTRAL INDEX KEY:** 0001935777

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**MAIL ADDRESS:**
- **STREET 1:** 415 N DEARBORN ST
- **STREET 2:** STE 400
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60654

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 5)**

**Verano Holdings Corp.**

*(Name of Issuer)*

**Class A subordinate voting shares**

*(Title of Class of Securities)*

**92338D101**

*(CUSIP Number)*

**George Archos**<br>224 West Hill Street,<br>Suite 400<br>Chicago IL 60610<br>312-265-0730

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**08/27/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **92338D101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Archos George Peter** | Name of reporting person<br>**Archos George Peter** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**26555192.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**26555192.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**26555192.00** | Aggregate amount beneficially owned by each reporting person<br>**26555192.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**7.3%** | Percent of class represented by amount in Row (11)<br>**7.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** Aggregate amount owned by Mr. Archos includes 8,843 Class A Subordinate Voting Shares of the Issuer ("Subordinate Voting Shares") underlying stock options granted to Mr. Archos under the Verano Holdings Corp. Stock and Incentive Plan (the "Plan"), which are currently exercisable. Each stock option is exercisable for Class B Proportionate Voting Shares of the Issuer ("Proportionate Voting Shares"). Any awards granted under the Plan may be settled in Subordinate Voting Shares in lieu of Proportionate Voting Shares based on a ratio of 100 Subordinate Voting Shares for each Proportionate Voting Share, which is the intention of the board of directors of the Issuer, and as such, the information with respect to such stock options and the Plan is denominated solely in Subordinate Voting Shares applying such exchange ratio. Assuming the conversion to Subordinate Voting Shares, the exercise price of the stock options is $24.10 ($34.30 Canadian dollars) as of August 27, 2025. The percentage is calculated based on an aggregate of  361,788,756 Subordinate Voting Shares outstanding (consisting of (i) 361,779,913 Subordinate Voting Shares outstanding as of August 27, 2025, plus (ii) 8,843 Subordinate Voting Shares underlying exercisable stock options granted to Mr. Archos under the Plan).

| **CUSIP No.** | **92338D101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Archos Capital Group, LLC** | Name of reporting person<br>**Archos Capital Group, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**ILLINOIS** | Citizenship or place of organization<br>**ILLINOIS** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**4420790.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**4420790.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**4420790.00** | Aggregate amount beneficially owned by each reporting person<br>**4420790.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**1.2%** | Percent of class represented by amount in Row (11)<br>**1.2%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** The percentage is calculated based on 361,779,913 Subordinate Voting Shares outstanding as of August 27, 2025.

| **CUSIP No.** | **92338D101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Copperstone Trust** | Name of reporting person<br>**Copperstone Trust** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**ILLINOIS** | Citizenship or place of organization<br>**ILLINOIS** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**1817688.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**1817688.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**1817688.00** | Aggregate amount beneficially owned by each reporting person<br>**1817688.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.5%** | Percent of class represented by amount in Row (11)<br>**0.5%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**HC** | Type of Reporting Person (See Instructions)<br>**HC** | |

---

**Comment for Reporting Person:** The percentage is calculated based on 361,779,913 Subordinate Voting Shares outstanding as of August 27, 2025.

| **CUSIP No.** | **92338D101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**GP Management Group, LLC** | Name of reporting person<br>**GP Management Group, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**ILLINOIS** | Citizenship or place of organization<br>**ILLINOIS** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**5733816.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**5733816.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**5733816.00** | Aggregate amount beneficially owned by each reporting person<br>**5733816.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**1.6%** | Percent of class represented by amount in Row (11)<br>**1.6%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** The percentage is calculated based on 361,779,913 Subordinate Voting Shares outstanding as of August 27, 2025.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Class A subordinate voting shares

**(b) Name of Issuer:**
Verano Holdings Corp.

**(c) Address of Issuer's Principal Executive Offices:**
224 West Hill Street, Suite 400, Chicago, IL, 60610

This Amendment No. 5 on Schedule 13D (this "Schedule 13D/A") amends the original Schedule 13D filed with the Securities and Exchange Commission (the "SEC") on July 6, 2022 by George Archos, Archos Capital Group, LLC, an Illinois limited liability company ("Archos Capital"), Copperstone Trust, an Illinois trust ("Copperstone"), GP Management Group, LLC, an Illinois limited liability company ("GP Management"), 3PLGK, LLC, an Illinois trust ("3PLGK"), and The George P. Archos Irrevocable Trust, an Illinois trust (the "Trust"), as previously amended and supplemented by (i) Amendment No. 1 to Schedule 13D filed with the SEC on May 1, 2023 by Mr. Archos, Archos Capital, Copperstone, GP Management, 3PLGK and the Trust, (ii) Amendment No. 2 to Schedule 13D filed with the SEC on September 18, 2023 by Mr. Archos, Archos Capital, Copperstone and GP Management, (iii) Amendment No. 3 to Schedule 13D filed with the SEC on December 29, 2023 by Mr. Archos, Archos Capital, Copperstone and GP Management and (iv) Amendment No. 4 to Schedule 13D ("Amendment No. 4") filed with the SEC on December 17, 2024 by Mr. Archos, Archos Capital, Copperstone and GP Management (collectively, the "Prior Schedule"). Unless otherwise defined herein, capitalized terms used in this Schedule 13D/A have the meanings ascribed to them in the Prior Schedule. Unless amended or supplemented below, the information in the Prior Schedule remains unchanged. This Schedule 13D/A is being filed to disclose a disposition of shares by certain Reporting Persons and the entry into the Limited Release (defined below) in connection with the Loan Agreement.

**Item 4. Purpose of Transaction**

Item 4 of the Prior Schedule is hereby amended by replacing the disclosure added to Item 4 of the Prior Schedule pursuant to Amendment No. 4 with the paragraph below in order to clarify that Archos Capital did not transfer ownership of 4,420,790 Subordinate Voting Shares to the CLUT (defined below) in December 2024 as was previously erroneously reported. The Reporting Persons effectuated a similar transfer, but with GP Management as the transferor, and have promptly filed this report. For charitable and estate planning purposes of Mr. Archos, on August 27, 2025, GP Management, which is controlled by Mr. Archos, transferred beneficial ownership of 4,420,790 Subordinate Voting Shares to an irrevocable grantor charitable lead unitrust (the "CLUT") which pays out payments to designated charitable and noncharitable recipients. None of the Reporting Persons received consideration for this transfer. The CLUT is not controlled by any of the Reporting Persons, and the Reporting Persons do not otherwise have voting or dispositive power over the shares that have been transferred to the CLUT. Such shares are no longer beneficially owned by any of the Reporting Persons.

**Item 5. Interest in Securities of the Issuer**

**(a)**
As of August 27, 2025, (i) Mr. Archos may be deemed to beneficially own 26,555,192 Subordinate Voting Shares, which represents approximately 7.3% of the outstanding Subordinate Voting Shares (including 8,843 Subordinate Voting Shares underlying stock options granted to Mr. Archos under the Plan, which are currently exercisable), (ii) Archos Capital may be deemed to beneficially own 4,420,790 Subordinate Voting Shares, which represents approximately 1.2% of the outstanding Subordinate Voting Shares, (iii) Copperstone may be deemed to beneficially own 1,817,688 Subordinate Voting Shares, which represents approximately 0.5% of the outstanding Subordinate Voting Shares, and (iv) GP Management may be deemed to beneficially own 5,733,816 Subordinate Voting Shares following the disposition reported herein, which represents approximately 1.6% of the outstanding Subordinate Voting Shares. Such percentages are calculated based on (a) with respect to Mr. Archos, 361,788,756 Subordinate Voting Shares outstanding (consisting of (i) 361,779,913 Subordinate Voting Shares outstanding as of August 27, 2025, plus (ii) 8,843 Subordinate Voting Shares underlying exercisable stock options granted to Mr. Archos under the Plan) and (b) with respect to the other Reporting Persons, an aggregate of 361,779,913 Subordinate Voting Shares outstanding as of August 27, 2025.

**(b)**
The following sets forth the Reporting Persons' sole and shared voting and dispositive power of Subordinate Voting Shares as of August 27, 2025: George Archos has sole voting and dispositive power over 26,555,192 Subordinate Voting Shares. Mr. Archos controls the other Reporting Persons, and as such, the Subordinate Voting Shares owned by Reporting Persons other than Mr. Archos are included in Mr. Archos' 26,555,192 Subordinate Voting Shares. Archos Capital has sole voting and dispositive power over 4,420,790  Subordinate Voting Shares. Copperstone has sole voting and dispositive power over 1,817,688 Subordinate Voting Shares. GP Management has sole voting and dispositive power over 5,733,816 Subordinate Voting Shares. No Reporting Person has additional shared voting or dispositive power over any Subordinate Voting Shares.

**(c)**
Other than as reported herein, none of the Reporting Persons have effected any transactions in the Subordinate Voting Shares in the 60 days preceding the date hereof.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

The Reporting Persons previously reported that, pursuant to the Loan Agreement, as collateral for the loan, the lenders under the Loan Agreement perfected a lien on the Subordinate Voting Shares held by Mr. Archos, Copperstone Trust, Archos Capital and GP Management (together and for purposes of this section, the "Co-Borrowers").

On August 27, 2025, the Reporting Persons entered into a Limited Consent and Release with certain lenders party to the Loan Agreement (the "Limited Release"). Pursuant to the Limited Release, the lien on the Subordinate Voting Shares of the Co-Borrowers was released, apart from 2,500,000 Subordinate Voting Shares held by Archos Capital.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Archos George Peter

**Signature:** /s/ George Archos

**Name/Title:** George Archos

**Date:** 08/29/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Archos Capital Group, LLC

**Signature:** /s/ George Archos

**Name/Title:** George Archos/Member

**Date:** 08/29/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Copperstone Trust

**Signature:** /s/ George Archos

**Name/Title:** George Archos/Trustee

**Date:** 08/29/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** GP Management Group, LLC

**Signature:** /s/ George Archos

**Name/Title:** George Archos/Manager

**Date:** 08/29/2025