Aurora Cannabis Inc. says founder and former chief executive Terry Booth has sold nearly 12.2 million shares in the company into the open market. Reports Lakeland Today.

The company says the sale is in connection with a restructuring of the company earlier this year that saw the elimination of 500 jobs and Booth’s retirement from the company.

Aurora announced Booth’s departure from the company in February.

As the succession plan, he became a senior strategic adviser to the board and remained a director.

According to a regulatory filing ahead of the company’s annual meeting last year, Booth held 15.2 million shares, nearly 2.2 million options and 305,000 restricted share units at June 30, 2019.