SNDL Inc
For the period ended Dec 31, 2023. Filed Mar 21, 2024.
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The yearly report of certain Canadian companies, filed under a joint US and Canadian system. It is the main yearly account these companies give US investors, largely as filed in Canada.
FY2023 · Filed Mar 21, 2024
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EX-99.2 · Deferred share units
Deferred share units
DSUs are granted to directors and generally vest in equal instalments overone year. DSUs are settled by making a cash payment to the holder equal to the fair value of the Company’s common shares calculated at the date of such payment. DSUs are accounted for as a liability instrument and measured at fair value based on the market value of the Company’s common shares at each period end.
As at December 31, 2023, the Company recognized a liability of $3.9 million relating to the fair value of cash-settled DSUs (December 31, 2022 – $2.3 million). The liability is included as a non-current liability within other liabilities (note 24).
The following table summarizes changes in DSUs during theyear ended December 31, 2023 and the year ended December 31, 2022:
| DSUsoutstanding | |
|---|---|
| Balance at December 31, 2021 | 551,250 |
| Granted | 1,216,076 |
| Exercised | (58,943) |
| Balance at December 31, 2022 | 1,708,383 |
| Granted | 689,950 |
| Balance at December 31, 2023 | 2,398,333 |
As at December 31, 2023,1.5 million DSUs were vested butnone were exercisable. As at December 31, 2022,0.8 million were vested butnone were exercisable. DSUs can only be exercised once a director ceases to be on the board.
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