David Sirolly
About David Sirolly
David Sirolly serves as Chief Legal Officer & General Counsel of The Cannabist Company Holdings Inc. (CBSTF), signing numerous SEC filings and transaction documents; he has been in this role since at least FY 2022 based on company filings . Beneficial ownership increased materially over his tenure, reaching 1,131,741 common shares as of August 8, 2025 . Company proxy materials note an insider trading policy that prohibits hedging, and disclose one late Section 16 transaction for Sirolly in 2024 due to an administrative error .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| The Cannabist Company Holdings Inc. | Chief Legal Officer & General Counsel | ≥2022–2025 | Executed and signed multiple SEC filings (8-Ks, 10-Q) and transaction/indenture documents as the authorized officer |
External Roles
No external public company directorships are disclosed for Sirolly in the company’s DEF 14A documents (director rosters list only board nominees and directors; Sirolly is not included) .
Fixed Compensation
Sirolly was not a Named Executive Officer (NEO) in the last two fiscal years; therefore, base salary, target/actual bonus and other cash compensation were not disclosed in the Summary Compensation Tables .
Performance Compensation
Company-wide executive compensation design emphasizes at-risk, long-term equity (RSUs/PSUs) with multiple performance measures and capped payouts; this structure is described for NEOs and the broader program but individual metrics/weights for Sirolly are not disclosed .
Equity Ownership & Alignment
| Metric | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Common Shares Beneficially Owned (#) | 11,419 | 64,597 | 964,198 | 1,131,741 |
| Ownership % of Common Shares | 0.00% | <1% (per proxy table notation) | 0.21% | <1% (per proxy table notation) |
Additional alignment signals:
- Insider Trading Policy prohibits hedging transactions (short sales, puts, calls) by directors and executives .
- No disclosures of any shares pledged as collateral for Sirolly; proxies do not report pledging for executives .
- Directors have stock ownership guidelines (5× annual cash retainer), but executive ownership guidelines are not disclosed; all directors were in compliance as of year-end .
Insider reporting:
- One late Section 16 transaction for Sirolly was reported on Form 5 for FY 2024 due to administrative error .
Employment Terms
No employment agreement, severance, change-in-control, or clawback terms were disclosed specifically for Sirolly in the DEF 14A or Item 5.02 8-K filings reviewed; Item 5.02 disclosures in 2025/2023 addressed other officers (e.g., CFO transition), with Sirolly signing as CLO/GC . Company documents do not disclose executive-specific clawback provisions beyond standard policies referenced in governance materials; hedging restrictions are explicitly disclosed .
Investment Implications
- Ownership alignment: Sirolly’s beneficial holdings increased from 11,419 (FY 2022) to 1,131,741 (FY 2025), supporting skin-in-the-game alignment and potential sensitivity to equity outcomes .
- Selling/pledging risk: No pledging disclosures and hedging is prohibited, reducing misalignment risk; one late Section 16 filing suggests administrative oversight, not necessarily heightened selling pressure .
- Compensation transparency: As a non-NEO, pay-for-performance specifics (cash/equity mix, metric weights, severance economics) are not available, limiting analysis of incentives and retention risk; company-wide design emphasizes at-risk RSUs/PSUs and multiple performance measures for executives .
- Execution signals: Frequent execution/signature of material agreements and SEC filings as CLO/GC underscores operational involvement in strategic transactions and governance processes .