McLernon John R. 4

What Happened John R. McLernon, a director of Village Farms International, exercised options on March 19, 2026 covering 50,000 underlying common shares. The Form 4 shows 25,000 shares were acquired at an exercise price of $1.09 (total cost $27,250) and a second 25,000-share derivative transaction was reported as a disposition (no price listed in the filing).

Key Details

• Transaction date: March 19, 2026; Form 4 filed March 23, 2026 (timely filing).
• Exercise details: two M-coded derivative transactions — 25,000 shares acquired @ $1.09 (cost $27,250); 25,000 shares reported as disposed (price N/A in filing).
• Shares owned after transaction: not specified in the excerpt provided.
• Relevant footnotes:
  • F6: Options were granted March 29, 2016, fully vested after 3 years and expire March 29, 2026 (near expiration).
  • F1–F5/F4: Some holdings are held through TFSA, Retirement Income Fund, spouse, and McLernon Holdings Ltd. (Mr. McLernon and spouse are shareholders of McLernon Holdings Ltd., which may be deemed beneficial owner of shares it holds).
• No 10b5-1 plan or tax-withholding method is specified in the provided data.

Context This was an options exercise (M code). The filing reports both an acquisition and a disposition related to the exercise; the document does not specify whether the disposed shares were sold on market, surrendered to pay exercise costs/taxes, or otherwise transferred. The options exercised were issued in 2016 and were about to expire on March 29, 2026, which commonly prompts late-term exercises. As always, exercises and related dispositions are routine insider actions and do not by themselves indicate management sentiment about the company.