Trulieve Announces Executive Automatic Securities Disposition Plan

Rhea-AI Summary

Trulieve (OTCQX: TCNNF) announced that CEO Kim Rivers established an automatic securities disposition plan effective March 17, 2026. Sales may begin June 17, 2026 and continue until 2.5 million subordinate voting shares are sold, subject to daily volume limits, independent broker execution, and applicable U.S. and Canadian rules.

The ASDP is authorized by the compensation committee, restricts executive discretion, and will be reported under securities laws with filings accessible on SEDI and SEC systems.

Positive

• ASDP authorized by compensation committee
• Sales executed by an independent securities broker
• Plan includes daily volume limits to mitigate price impact

Negative

• Up to 2.5 million shares may be sold, creating potential selling pressure
• Sales begin June 17, 2026, introducing near-term market supply risk

TALLAHASSEE, Fla., March 17, 2026 /PRNewswire/ -- Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the U.S., today announced that effective as of March 17, 2026, Ms. Kim Rivers, the Company's Chairman and Chief Executive Officer, has established an automatic securities disposition plan ("ASDP") in accordance with applicable United States and Canadian securities legislation and the Company's trading policies. The ASDP will allow for the sale of Subordinate Voting Shares at prevailing market prices with specific daily volume limits designed to mitigate potential impacts on the share price. Sales are authorized to begin on June 17, 2026 and will continue until the aggregate number of shares sold reaches 2.5 million shares.

Under United States and Canadian securities laws and the Company's trading policies, insiders of Trulieve are subject to limits on their ability to sell shares in the Company. ASDPs address this issue by permitting trades to be made in accordance with pre-arranged instructions given when executives are not in possession of any material undisclosed information. Canadian securities laws permit insiders to adopt ASDPs to sell, donate or otherwise transfer shares in the future in accordance with the pre-arranged terms of their ASDP, on an automatic basis, regardless of any subsequent material non-public information they receive. Once an ASDP is established, the insider is not permitted to exercise any further discretion or influence over how dispositions will occur under the ASDP.

Sales of Subordinate Voting Shares under the ASDP will be executed by an independent securities broker in accordance with the trading parameters, price and volume limits and other instructions set out in the ASDP. The ASDP prohibits the broker administering such ASDP from consulting with Ms. Rivers regarding any sales under the ASDP and prohibits Ms. Rivers from disclosing to the broker any information concerning the Company that might influence the execution of the ASDP. The ASDP has been authorized and established in the form approved by the compensation committee of the Company and contains meaningful restrictions on the ability of Ms. Rivers to amend, suspend or terminate the applicable ASDP.

Dispositions by Ms. Rivers under the ASDP will be reported in accordance with applicable securities laws. Each such filing will bear a notation to advise readers that the disposition is related to an ASDP. Information regarding each ASDP and transactions thereunder, as the case may be, may be accessed on SEDI at www.sedi.ca and www.sec.gov.

This announcement is made pursuant to the recommended practices set forth in Staff Notice 55-317 –Automatic Securities Disposition Plans of the Canadian Securities Administrators and will be available under the Company's SEDAR profile at www.SEDAR.ca.

Forward-Looking Statements
This news release includes forward-looking information and statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to the Company's expectations or forecasts other plans, intentions, expectations, estimates, and beliefs. Words such as "expects", "continue", "will", "anticipates" and "intends" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on the Company's current projections and expectations about future events and trends that management believes might affect its financial condition, results of operations, business strategy and financial needs, and on certain assumptions and analysis made by the Company in light of the experience and perception of historical trends, current conditions and expected future developments and other factors management believes are appropriate. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein, including, without limitation, the risks discussed under the heading "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2025 and in our periodic reports subsequently filed with the United States Securities and Exchange Commission and in the Company's filings on SEDAR+ at www.sedarplus.ca. There can be no assurance that any forward-looking information and statements herein will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof and, except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward looking information and statements herein, whether as a result of new information, future events or results, or otherwise.

About Trulieve
Trulieve is an industry leading, vertically integrated cannabis company and multi-state operator in the U.S., with leading market positions in Arizona, Florida, and Pennsylvania. Trulieve is poised for accelerated growth and expansion, building scale in retail and distribution in new and existing markets through its hub strategy. By providing innovative, high-quality products across its brand portfolio, Trulieve delivers optimal customer experiences and increases access to cannabis, helping patients and customers to live without limits. Trulieve is listed on the CSE under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF. For more information, please visit Trulieve.com.

Facebook: @Trulieve   
Instagram: @Trulieve
X: @Trulieve

Investor and Media Contact
Christine Hersey, Chief Corporate Affairs & Strategy Officer
+1 (424) 202-0210
Christine.Hersey@Trulieve.com

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SOURCE Trulieve Cannabis Corp.

FAQ

What does Trulieve's March 17, 2026 ASDP for CEO Kim Rivers (TCNNF) authorize?

It authorizes sales of up to 2.5 million subordinate voting shares beginning June 17, 2026. According to the company, sales will follow pre-set price and daily volume limits and be executed by an independent broker without CEO involvement.

When will sales under Kim Rivers' ASDP for Trulieve (TCNNF) start and end?

Sales are authorized to start on June 17, 2026 and continue until 2.5 million shares are sold. According to the company, trades will run automatically under the plan until the aggregate cap is reached.

How will Trulieve (TCNNF) ensure Kim Rivers' ASDP doesn't affect trading unfairly?

The ASDP uses pre-arranged instructions, daily volume limits, and independent execution to limit market impact. According to the company, the broker is prohibited from consulting the CEO or taking her guidance on executions.

Where will Trulieve (TCNNF) disclose transactions made under Kim Rivers' ASDP?

Dispositions will be reported under applicable securities laws with filings on SEDI and the SEC. According to the company, each filing will note the disposition relates to an automatic securities disposition plan.

Does Kim Rivers retain discretion over sales under Trulieve's (TCNNF) ASDP?

No; the ASDP restricts the CEO from exercising further discretion over dispositions once established. According to the company, the plan contains meaningful limits on her ability to amend, suspend or terminate the ASDP.