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Filing Details

Accession Number:: 0000925421-21-000103
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2021-03-02 18:18:45
Reporting Period:: 2020-12-24

Accepted Time:: 2021-03-02 18:18:45
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1743745	Greenlane Holdings Inc.	GNLN	Wholesale-Durable Goods, Nec (5099)	830806637

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1773270	Adam Schoenfeld	C/O Greenlane Holdings, Inc. 1095 Broken Sound Parkway, Suite 300 Boca Raton FL 33487	Chief Strategy Officer	Yes	Yes	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Class C Common Stock	Disposition	2020-12-24	450,000	$0.00	12,368,205	No	4	C	Direct
Class A Common Stock	Acquisiton	2020-12-24	150,000	$0.00	158,900	No	4	C	Direct
Class A Common Stock	Disposition	2021-02-26	35,000	$5.48	132,667	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	C	Direct
No	4	C	Direct
No	4	S	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Class A Common Stock	Common Units	Disposition	2020-12-24	150,000	$0.00	150,000	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
4,122,735			No	4	C	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Class C Common Stock	61,721,013	Indirect	See footnote.
Class A Common Stock	22,533	Indirect	By spouse.

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Class A Common Stock	Common Units	$0.00			20,573,671	20,573,671	Indirect

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
	20,573,671	20,573,671	Indirect

Footnotes

Pursuant to the Third Amended and Restated Operating Agreement of Greenlane Holdings, LLC (the "Operating Company"), the common membership interests in the Operting Company (the "Common Units") are redeemable on a one-for-one basis for shares of Class A Common Stock of the Issuer, or, at the election of the Issuer, cash equal to a volume weighted average market price of a share of Class A Common Stock. Upon any redemption of Common Units, three shares of Class C Common Stock are automatically forfeited and cancelled for each Common Unit so redeemed.
Following a conversion of 150,000 Common Units on 12/24/20, 450,000 shares of Class C Common stock were forfeited and the reporting person directly owned 12,368,205 shares of Class C Common Stock. Giving effect to a gift of 6,300,000 shares of Class C Common Stock previously reported on a Form 4 timely filed with the Commission on 1/8/21, the reporting person directly owns 6,068,205 shares of Class C Common Stock following the reported transaction.
The reporting person is a stockholder of Jacoby & Co. Inc. ("Jacoby"), which is a member of the Operating Company and is the direct record owner of the reported securities. The reporting person shares voting control and may be deemed to beneficially own such securities owned by Jacoby but disclaims beneficial ownership except to the extent of his pecuniary interest therein.
The reported amount corrects the amount beneficially held by the reporting person. The Form 4 timely filed with the Commission on 11/12/20 inadvertently over-reported the reporting person's direct share holdings by 40,000 shares of Class A Common Stock.
The reporting person sold the shares pursuant to a plan of disposition adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $5.29 to $5.76, inclusive. The reporting person undertakes to provide to Greenlane Holdings, Inc., any security holder of Greenlane Holdings, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnote (5) to this Form 4.
The Common Units have no expiration date.
Following a conversion of 150,000 Common Units on 12/24/20, the reporting person directly owned 4,122,735 Common Units. Giving effect to a gift of 2,100,000 Common Units previously reported on a Form 4 filed with the Commission on 1/8/21, the reporting person directly owns 2,022,735 Common Units as of the date of this report.