Boockvar Peter Form 4 GENERAL CANNABIS / Peter Boockvar ownership change

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

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

1. Name and Address of Reporting Person^*

Boockvar Peter

(Last)

(First)

(Middle)

C/O GENERAL CANNABIS CORP

6565 EAST EVANS AVENUE

(Street)

DENVER

80224

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
GENERAL CANNABIS CORP [ CANN ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/11/2020

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

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

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Option	$0.31	09/11/2020		A		37,500		09/11/2020	09/11/2027	Common Stock	37,500	$0⁽¹⁾	37,500	D
Option	$0.31	09/11/2020		A		37,500		09/11/2020	09/11/2027	Common Stock	37,500	$0⁽¹⁾	37,500	D
Option	$3.2	09/11/2020		D⁽²⁾			25,000	⁽²⁾	12/30/2021	Common Stock	25,000	$0⁽²⁾	0	D
Option	$3.2	09/11/2020		A⁽²⁾		25,000		⁽²⁾	12/30/2023	Common Stock	25,000	$0⁽²⁾	25,000	D
Option	$2.41	09/11/2020		D⁽³⁾			25,000	⁽³⁾	03/31/2022	Common Stock	25,000	$0⁽³⁾	0	D
Option	$2.41	09/11/2020		A⁽³⁾		25,000		⁽³⁾	03/31/2024	Common Stock	25,000	$0⁽³⁾	25,000	D
Option	$1.92	09/11/2020		D⁽⁴⁾			25,000	⁽⁴⁾	06/20/2022	Common Stock	25,000	$0⁽⁴⁾	0	D
Option	$1.92	09/11/2020		A⁽⁴⁾		25,000		⁽⁴⁾	06/20/2024	Common Stock	25,000	$0⁽⁴⁾	25,000	D
Option	$1.34	09/11/2020		D⁽⁵⁾			25,000	⁽⁵⁾	09/26/2022	Common Stock	25,000	$0⁽⁵⁾	0	D
Option	$1.34	09/11/2020		A⁽⁵⁾		25,000		⁽⁵⁾	09/26/2024	Common Stock	25,000	$0⁽⁵⁾	25,000	D
Option	$4.23	09/11/2020		D⁽⁶⁾			25,000	⁽⁶⁾	12/21/2022	Common Stock	25,000	$0⁽⁶⁾	0	D
Option	$4.23	09/11/2020		A⁽⁶⁾		25,000		⁽⁶⁾	12/21/2024	Common Stock	25,000	$0⁽⁶⁾	25,000	D
Option	$2.21	09/11/2020		D⁽⁷⁾			37,500	⁽⁷⁾	03/30/2023	Common Stock	37,500	$0⁽⁷⁾	0	D
Option	$2.21	09/11/2020		A⁽⁷⁾		37,500		⁽⁷⁾	03/30/2025	Common Stock	37,500	$0⁽⁷⁾	37,500	D
Option	$3.71	09/11/2020		D⁽⁸⁾			37,500	⁽⁸⁾	06/27/2023	Common Stock	37,500	$0⁽⁸⁾	0	D
Option	$3.71	09/11/2020		A⁽⁸⁾		37,500		⁽⁸⁾	06/27/2025	Common Stock	37,500	$0⁽⁸⁾	37,500	D
Option	$4.02	09/11/2020		D⁽⁹⁾			37,500	⁽⁹⁾	09/20/2023	Common Stock	37,500	$0⁽⁹⁾	0	D
Option	$4.02	09/11/2020		A⁽⁹⁾		37,500		⁽⁹⁾	09/20/2025	Common Stock	37,500	$0⁽⁹⁾	37,500	D
Option	$3.37	09/11/2020		D⁽¹⁰⁾			37,500	⁽¹⁰⁾	10/12/2023	Common Stock	37,500	$0⁽¹⁰⁾	0	D
Option	$3.37	09/11/2020		A⁽¹⁰⁾		37,500		⁽¹⁰⁾	10/12/2025	Common Stock	37,500	$0⁽¹⁰⁾	37,500	D
Option	$2.37	09/11/2020		D⁽¹¹⁾			37,500	⁽¹¹⁾	01/21/2024	Common Stock	37,500	$0⁽¹¹⁾	0	D
Option	$2.37	09/11/2020		A⁽¹¹⁾		37,500		⁽¹¹⁾	01/21/2026	Common Stock	37,500	$0⁽¹¹⁾	37,500	D
Option	$1.66	09/11/2020		D⁽¹²⁾			37,500	⁽¹²⁾	04/24/2024	Common Stock	37,500	$0⁽¹²⁾	0	D
Option	$1.66	09/11/2020		A⁽¹²⁾		37,500		⁽¹²⁾	04/24/2026	Common Stock	37,500	$0⁽¹²⁾	37,500	D
Option	$0.97	09/11/2020		D⁽¹³⁾			200,000	⁽¹³⁾	06/04/2024	Common Stock	200,000	$0⁽¹³⁾	0	D
Option	$0.97	09/11/2020		A⁽¹³⁾		200,000		⁽¹³⁾	06/04/2026	Common Stock	200,000	$0⁽¹³⁾	200,000	D
Option	$0.55	09/11/2020		D⁽¹⁴⁾			75,000	⁽¹⁴⁾	07/29/2024	Common Stock	75,000	$0⁽¹⁴⁾	0	D
Option	$0.55	09/11/2020		A⁽¹⁴⁾		75,000		⁽¹⁴⁾	07/29/2026	Common Stock	75,000	$0⁽¹⁴⁾	75,000	D
Option	$0.67	09/11/2020		D⁽¹⁵⁾			75,000	⁽¹⁵⁾	10/02/2024	Common Stock	75,000	$0⁽¹⁵⁾	0	D
Option	$0.67	09/11/2020		A⁽¹⁵⁾		75,000		⁽¹⁵⁾	10/02/2026	Common Stock	75,000	$0⁽¹⁵⁾	75,000	D

Explanation of Responses:

1. The reporting person obtained the listed securities pursuant to the Issuer's 2014 Equity Incentive Plan.

2. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on December 30, 2016 and provides for vesting over a one year period.

3. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on March 31, 2017 and provides for vesting over a one year period.

4. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on June 20, 2017 and provides for vesting over a one year period.

5. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on September 26, 2017 and provides for vesting over a one year period.

6. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on December 21, 2017 and provides for vesting over a one year period.

7. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on March 30, 2018 and provides for vesting over a one year period.

8. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on June 27, 2018 and provides for vesting over a one year period.

9. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on September 20, 2018 and provides for vesting over a one year period.

10. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on October 12, 2018 and provides for vesting over a one year period.

11. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on January 21, 2019 and provides for vesting over a one year period.

12. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on April 24, 2019 and provides for vesting over a one year period.

13. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on June 4, 2019 and provides for 50% of the options to vest immediately and 50% vesting over a one year period.

14. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on July 29, 2019 and provides vesting over a one year period.

15. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on October 2, 2019 and provides vesting over a one year period. The new option is immediately exercisable.

	By /s/ Peter Boockvar	10/20/2020
	** 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.

Boockvar Peter Form 4GENERAL CANNABIS / Peter Boockvar ownership change