Canopy's Employee Stock Option Plan (ESOP)One of the things I've been following is their ESOP and the amount of options they issue each quarter. It seems they are giving them away like smarties to a fat kid. If you go to their Q3 Financials which starts on Note 19 (b) on page 35 and 36, you will find the info (see link below).
At the end of Sept, they had 22.2 million options issued at an average price of $28.16. At the end of Dec, they had 31.55 million options issued at avergae cost of $31.30. So in one quarter they issued almost 10 million options. Now, each person would have to pay to Canopy, on average, $31.30 to convert the option into a share (each option has a specific exercise price to convert to a share).
Normally, an option holder would exercise their options and then sell them (usually quickly because you don't want to get caught if the stock price goes down because there are huge personal income tax ramifications.....remember Nortel and how many people got stuck with huge tax bills when the stock tanked).
My opinion is that they are issuing too many options which causes all of these insider selling as they have to disclose they are "insiders" when they sell. It doesn't help the stock because investors get nervous when you see the "insiders" selling because they may know something the rest of us don't know.
https://www.canopygrowth.com/wp-content/uploads/2019/02/Canopy-Growth-Corporation_Q3_2019-Financial-Statements_FINAL.pdf