Canopy Growth (NASDAQ: CGC) director sells shares to cover RSU tax obligations

Rhea-AI Filing Summary

Canopy Growth Corp director David Angelo Lazzarato reported a disposition of 15,624 common shares at $0.93 per share. According to the footnote, these shares were sold to satisfy tax obligations arising from the vesting of restricted stock units granted on June 3, 2025. After this transaction, he directly holds 72,048 common shares.

Insider Trade Summary

Net Seller: 15,624 shares ($14,530)

Net Sell 1 txn

Insider Lazzarato David Angelo

Role Director

Sold 15,624 shs ($15K)

Type	Security	Shares	Price	Value
Sale	Common Shares	15,624	$0.93	$15K

Holdings After Transaction: Common Shares — 72,048 shares (Direct)

Footnotes (1)

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Key Figures

Shares sold: 15,624 shares Sale price: $0.93 per share Shares held after transaction: 72,048 shares +1 more

4 metrics

Shares sold 15,624 shares Disposition of common shares to cover tax obligations

Sale price $0.93 per share Price for common share sale on reported transaction date

Shares held after transaction 72,048 shares Direct ownership following reported sale

RSU grant date June 3, 2025 Date RSUs that vested and triggered tax sale were granted

Key Terms

restricted stock units, tax obligations, open-market sale, Form 4

4 terms

restricted stock units financial

"were granted on June 3, 2025, in the form of restricted stock units ("RSUs")."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

tax obligations financial

"The disposition of shares is associated with tax obligations of the reporting person"

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Form 4 regulatory

"INSIDER FILING DATA (Form 4):"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Lazzarato David Angelo

(Last) (First) (Middle)

C/O CANOPY GROWTH CORPORATION

1 HERSHEY DRIVE

(Street)

SMITHS FALLS K7A 0A8

(City) (State) (Zip)

ONTARIO, CANADA

(Country)

2. Issuer Name and Ticker or Trading Symbol
Canopy Growth Corp [ CGC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares	03/31/2026		S		15,624(1)	D	$0.93	72,048	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The shares reported as disposed herein were granted on June 3, 2025, in the form of restricted stock units ("RSUs"). The disposition of shares is associated with tax obligations of the reporting person associated with the vesting of the RSUs.

	/s/ Keith Pisani, Attorney-in-fact for David Angelo Lazzarato	04/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did CGC director David Angelo Lazzarato report?

David Angelo Lazzarato reported selling 15,624 Canopy Growth Corp common shares at $0.93 per share. The filing explains the sale was tied to tax obligations from vesting restricted stock units granted on June 3, 2025, rather than a discretionary trade.

Why did CGC director David Angelo Lazzarato sell 15,624 shares?

The sale of 15,624 shares was conducted to cover tax obligations associated with the vesting of restricted stock units. The footnote clarifies these shares came from RSUs granted on June 3, 2025, indicating a compensation-related, tax-driven disposition instead of a typical open-market liquidation.

How many Canopy Growth Corp shares does David Angelo Lazzarato hold after this Form 4?

After the reported transaction, David Angelo Lazzarato directly holds 72,048 Canopy Growth Corp common shares. This figure in the filing reflects his remaining direct ownership following the 15,624-share sale used to satisfy tax obligations on vesting restricted stock units.

Was the CGC insider sale a routine tax-related transaction?

Yes. The filing’s footnote states the disposed shares were granted as restricted stock units and the sale was associated with tax obligations upon vesting. Such transactions are typically compensation-related mechanics rather than discretionary decisions on the company’s stock outlook.

What type of security did CGC’s director dispose of in this Form 4?

The transaction involved Canopy Growth Corp common shares that originated from previously granted restricted stock units. When those RSUs vested, a portion of the resulting shares was sold at $0.93 per share to address the reporting person’s related tax obligations.