Green Thumb Industries Former CEO Continues To Unload Position
It appears that insider sales are becoming somewhat of a trend as of late. Following the filings made Friday by certain insiders of Aphria Inc (TSX: APHA) (NASDAQ: APHA), Green Thumb Industries (CSE: GTII) saw several filings of its own made. Pete Kadens, formerly the chief executive officer of the firm, made several filings on Friday indicating sales that occurred in multiple accounts in which he holds equity of the company.
While not currently an executive or director of the company, Kadens remains over a 10% equity holder in the firm and as a result is required to file early warning reports in connection with his changes in beneficial ownership of Green Thumb. The latest filings were related to transactions made through both The Kadens Family Foundation as well as Kadens Family Holdings, LLC.
The latter saw transactions occur this past week, with a total of 61,200 subordinate voting shares of the company sold for gross proceeds of $1,178,692. Two other transactions filed Friday, conducted through his family foundation, actually occurred back on July 30 – well past the filings deadline for such reporting. In the July transactions, a total of 100,000 subordinate voting shares were sold, for gross proceeds of $1,802,000.
The stock sales from Kadens appears to be rather routine, with numerous transactions occurring on a monthly basis by the former executive. Prior sales in the amounts of $1.6 million occurred in the month of July alone, with the largest one day sale this year being over $4.5 million through the sale of 453,500 shares on May 1, 2020. Notably, this transaction also saw Kadens dispose of the last of his directly owned subordinate shares of the firm.
Green Thumb Industries last traded at $19.97 on the CSE.
Information for this briefing was found via Sedar and Green Thumb Industries. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.