SEC Form 3
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES


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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1. Name and Address of Reporting Person*
Crandall Ryan

(Last) (First) (Middle)
10 OCEANA WAY, 2ND FLOOR

(Street)
NORWOOD MA 02062

(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
04/07/2025
3. Issuer Name and Ticker or Trading Symbol
MARIMED INC. [ MRMD ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Chief Commercial Officer
5. 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 Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock, par value $.001 per share 598,002 D
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Stock Units (RSU) (1) (1) Common Stock, par value $.001 per share 225,000 0(2) D
Restricted Stock Units (RSU) (3) (3) Common Stock, par value $.001 per share 24,189 0(2) D
Restricted Stock Units (RSU) (4) (4) Common Stock, par value $.001 per share 162,000 0(2) D
Restricted Stock Units (RSU) (5) (5) Common Stock, par value $.001 per share 25,000 0(2) D
Option to buy common stock (6) 12/23/2026 Common Stock, par value $.001 per share 1,000,000 0.76 D
Option to buy common stock (6) 11/11/2025 Common Stock, par value $.001 per share 1,000,000 0.25 D
Explanation of Responses:
1. The RSUs vest over a three-year period as follows: (i) one-third on November 29, 2025; and (ii) in equal one-sixth installments every six months following November 29, 2025 through November 29, 2027, in accordance with the terms of an award agreement between the Issuer and the Reporting Person.
2. RSUs convert to shares of common stock on a one-for-one basis.
3. The RSUs vest in equal one-fourth installments every six months beginning on September 28, 2025 through March 28, 2027, in accordance with the terms of an award agreement between the Issuer and the Reporting Person.
4. The RSUs vest in three equal installments of 54,000 shares of common stock on each of June 8, 2025, December 8, 2025 and June 8, 2026, respectively, in accordance with the terms of an award agreement between the Issuer and the Reporting Person.
5. The RSUs vest in two equal installments of 12,500 shares of common stock on each of September 7, 2025 and March 7, 2026, in accordance with the terms of an award agreement between the Issuer and the Reporting Person.
6. Immediately.
Remarks:
/s/ Ryan Crandall 04/11/2025
** 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 5 (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.

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