<SEC-DOCUMENT>0000912282-25-000732.txt : 20250702
<SEC-HEADER>0000912282-25-000732.hdr.sgml : 20250702
<ACCEPTANCE-DATETIME>20250702105509
ACCESSION NUMBER:		0000912282-25-000732
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250630
FILED AS OF DATE:		20250702
DATE AS OF CHANGE:		20250702

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Starke Clifford
		CENTRAL INDEX KEY:			0001955468
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40397
		FILM NUMBER:		251098895

	MAIL ADDRESS:	
		STREET 1:		C/O FLORA GROWTH CORP.
		STREET 2:		3405 SW 26TH TERRACE, SUITE C-1
		CITY:			FORT LAUDERDALE
		STATE:			FL
		ZIP:			33312

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Flora Growth Corp.
		CENTRAL INDEX KEY:			0001790169
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				000000000
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		3230 W. COMMERCIAL BOULEVARD
		STREET 2:		SUITE 180
		CITY:			FORT LAUDERDALE
		STATE:			FL
		ZIP:			33309
		BUSINESS PHONE:		416-861-2267

	MAIL ADDRESS:	
		STREET 1:		3230 W. COMMERCIAL BOULEVARD
		STREET 2:		SUITE 180
		CITY:			FORT LAUDERDALE
		STATE:			FL
		ZIP:			33309
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-06-30</periodOfReport>

    <issuer>
        <issuerCik>0001790169</issuerCik>
        <issuerName>Flora Growth Corp.</issuerName>
        <issuerTradingSymbol>FLGC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001955468</rptOwnerCik>
            <rptOwnerName>Starke Clifford</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O FLORA GROWTH CORP.</rptOwnerStreet1>
            <rptOwnerStreet2>3230 W. COMMERCIAL BLVD., SUITE 180</rptOwnerStreet2>
            <rptOwnerCity>FORT LAUDERDALE</rptOwnerCity>
            <rptOwnerState>FL</rptOwnerState>
            <rptOwnerZipCode>33309</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
            <isOfficer>true</isOfficer>
            <officerTitle>CEO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Appreciation Rights (&quot;SARs&quot;)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>1.21</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2025-06-30</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>D</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1028665</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2034-12-15</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1028665</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Appreciation Rights (&quot;SARs&quot;)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.58</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2025-06-30</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1028665</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2034-12-15</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1028665</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1028665</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Appreciation Rights (&quot;SARs&quot;)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.915</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2025-06-30</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>D</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>575319</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2034-08-14</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>575319</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Appreciation Rights (&quot;SARs&quot;)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.58</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2025-06-30</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>575319</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2034-08-14</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>575319</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>575319</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The SARs vest in 9 equal installments, subject to stock price criteria to be met prior to each trance vesting.  The SARs have a post-termination exercise period of one year.</footnote>
        <footnote id="F2">The SARs granted to the reporting person on December 15, 2023, and August 14, 2024, were amended, with shareholder approval, to have a lower exercise price.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Dany Vaiman as attorney-in-fact for Clifford Starke</signatureName>
        <signatureDate>2025-07-01</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
