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Tilray Brands, Inc. (TLRY) 鈥� Form 4 filing dated 07/31/2025

Director Steven M. Cohen reported a single insider transaction on 07/29/2025. The company granted him 431,034 Restricted Stock Units (RSUs) at no cost (Transaction Code A). These RSUs represent the right to receive an equivalent number of TLRY common shares once vested. Vesting occurs one year after the grant date, contingent on continued board service, with accelerated vesting only upon death or disability; any voluntary resignation before that date results in forfeiture.

Following the grant, Cohen鈥檚 beneficial ownership is 431,034 derivative securities; no open-market purchases or sales of common stock were reported, and there were no changes in non-derivative holdings. The filing reflects standard director equity compensation and does not involve cash consideration or immediate dilution, as shares will be issued in the future upon vesting.

Tilray Brands (TLRY) director Johann Michael Herhalt filed a Form 4 covering routine equity-compensation activity.

• On 30-Jul-2025, 124,378 restricted stock units (RSUs) vested and converted to common shares (code M) at an imputed $0.61 per share.
• To cover withholding taxes, 65,921 shares were surrendered to the company (code F), resulting in a net issuance of 58,457 shares.
• 贬别谤丑补濒迟鈥檚 direct ownership rises to 174,009 common shares after the transactions.
• On 29-Jul-2025 he received a new grant of 431,034 RSUs that cliff-vest in one year, subject to continued service or earlier acceleration upon death/disability.
• All vested derivative holdings are now exhausted; the director holds 431,034 unvested RSUs.

The activity represents <1 % of Tilray鈥檚 outstanding share count and involves no cash outlay, implying negligible balance-sheet impact and de-minimis dilution.

Tilray Brands (TLRY) director David G. Hopkinson reported two equity-compensation transactions. On 29 Jul 2025 he received 431,034 new restricted stock units (RSUs); these cliff-vest one year from grant, with accelerated vesting only on death or disability and full forfeiture upon voluntary resignation before that date. On 30 Jul 2025 a prior RSU award vested, converting 124,378 units into common shares via an 鈥淢鈥� code (derivative conversion) at an indicated price of $0.61 per share.

After the transactions Hopkinson directly holds 335,563 common shares and 431,034 unvested RSUs; no derivative balance remains from the vested grant. The Form 4 shows no open-market purchases or sales, suggesting these are routine director compensation events rather than directional trades.

Tilray Brands, Inc. (TLRY) 鈥� Form 4 filing dated 07/31/2025. Director David F. Clanachan reported two equity events. On 07/30/2025, 124,378 restricted-stock units (RSUs) vested; at the $0.61 reference price the shares converted to common stock (transaction code 鈥淢鈥�). To cover withholding taxes, the company retained 65,921 shares (code 鈥淔鈥�), leaving the insider with net 58,457 new shares. His direct common-stock holding rises to 170,959 shares after the transactions.

Separately, on 07/29/2025 the director received a new grant of 431,034 RSUs (code 鈥淎鈥�). These units vest in one year, subject to continuous service, with accelerated vesting only upon death or disability; voluntary resignation triggers forfeiture. After the grant, Clanachan holds 431,034 unvested RSUs and zero vested units remaining from the prior award.

No open-market purchases or sales occurred, and there is no impact on Tilray鈥檚 cash flow or share count beyond ordinary share issuance for equity compensation. The filing primarily signals continued board-level equity alignment rather than a directional view on TLRY鈥檚 valuation.