| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Nicholas Vita Departure
On January 15, 2024, Nicholas Vita retired from his position as Chief Executive Officer of The Cannabist Company Holdings Inc., a British Columbia corporation (the “Company”). Mr. Vita will continue to serve as a director of the Company. Separation arrangements with Mr. Vita will be disclosed when finalized.
David Hart Appointment
On January 15, 2024, David Hart was appointed Chief Executive Officer of the Company.
Mr. Hart, age 47, was appointed President and Chief Operating Officer of the Company on July 31, 2023. Mr. Hart joined the Company in 2016 as Chief Risk Officer and became Chief Operating Officer in 2018. Prior to joining the Company, Mr. Hart served as Chief Operating Officer of Abyrx, a venture capital backed medical device company. Prior to his time at Abyrx, Mr. Hart was Chief Financial Officer and Chief Investment Officer at Alpine Capital, a family investment office for the Ranawat Orthopedic Group at the Hospital for Special Surgery. Mr. Hart started his career in financial services at Thomas Weisel Partners and Duff & Phelps. Mr. Hart has an MBA from Columbia University and is a graduate of Duke University.
On January 15, 2024, the Company entered into a second amendment (the “Amendment”) to the employment agreement between the Company and Mr. Hart, dated April 26, 2019, as amended on January 1, 2022. Pursuant to the Amendment, Mr. Hart will receive a base salary of $500,000 and has a target bonus percentage of 100%, with his current target annual equity grant to be determined by the compensation committee of the board of the Company.
The foregoing description of the Amendment is subject to and qualified in its entirety by reference to the full text of the Amendment, a copy of which is filed herewith as Exhibit 10.1 and is incorporated herein by reference.
There is no family relationship between Mr. Hart and any director or executive officer of the Company. There are no related party transactions with regard to Mr. Hart reportable under Item 404(a) of Regulation S-K.
Jesse Channon Appointment
On January 15, 2024, Jesse Channon was appointed President of the Company.
Mr. Channon, age 39, joined the Company in December 2019 as Chief Growth Officer. Prior to joining the Company, Mr. Channon was a member of the founding team at PageLever, a Y Combinator-backed company, where he oversaw all revenue and partnerships, working with companies such as YouTube, Microsoft, Intel and Toyota to build one of the first real-time applications on Facebook’s API and earning certification in the first wave of Preferred Marketing Developers. In 2013, PageLever sold to Unified, a New York City-based Ad Tech company, where Mr. Channon spent six years on the senior management team. After Unified, Mr. Channon served as Chief Revenue Officer for Social Native, a custom content marketplace, until October 2019. Mr. Channon also serves on the Entrepreneurship Advisory Board for the Harbert School of Business at his alma mater Auburn University.
There is no family relationship between Mr. Channon and any director or executive officer of the Company. There are no related party transactions with regard to Mr. Channon reportable under Item 404(a) of Regulation S-K.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
