Mr. Daniel Yi reports
MEDMEN REVISES EXECUTIVE COMPENSATION PLANS
The grant of units for Medmen Enterprises Inc.'s co-founders under its
long-term incentive plan (LTIP) will now vest upon achievement of
certain share price goals.
Co-founder and chief executive officer Adam Bierman, and co-founder and president Andrew
Modlin will receive their LTIP units of MM Enterprises USA LLC according
to the following schedule. One-third of the total units will vest when
the price of Medmen's subordinated voting shares reaches $10 in the
open market, another one-third will vest when the share price reaches $15, and the final one-third will vest when the share price reaches $20. The price will
be determined as a five-day volume-weighted average price in any exchange where Medmen shares are
This modification to the grants under the LTIP was made to provide
greater economic alignment with Medmen's shareholders.
Medmen Enterprises is the pre-eminent cannabis company in the United
States with multiple assets and operations in California, Nevada and New
York, which combined account for nearly half of North America's
addressable legal market. Medmen owns and operates licensed cannabis
facilities in cultivation, manufacturing and retail, and is one of the
most well-recognized cannabis brands in the world today.
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