Trulieve Cannabis Corp. filings document the regulatory record of a British Columbia cannabis issuer operating as a vertically integrated multi-state operator in the U.S. Recent Form 8-K reports cover operating results, Regulation FD presentations, material definitive agreements, executive compensation matters, and board or officer transitions.
Proxy filings describe annual meeting matters, director elections, executive compensation, equity awards, and shareholder governance. Debt-related filings disclose senior secured notes due 2030, indenture terms, subsidiary guarantees, and related capital-structure obligations tied to Trulieve and its restricted subsidiaries.
Trulieve Cannabis Corp. reported mixed Q1 2026 results. Revenue was $286.8 million, down about 4% year over year as retail sales declined on price compression, partly offset by stronger wholesale revenue. Gross margin slipped to 59.3% from 61.5%.
The company generated net income of $2.3 million versus a $33.8 million loss a year earlier, helped by sharply lower campaign and political spending and a smaller tax provision. Adjusted EBITDA was $100.4 million, or 35.0% of revenue. Cash and cash equivalents rose to $352.9 million, supported by $55.7 million of operating cash flow and new private placement debt. Management highlighted the U.S. decision to reschedule medical cannabis to Schedule III and its applications for DEA licenses in key medical markets as a structural shift in its tax and regulatory profile.
Trulieve Cannabis Corp. reported a profitable first quarter of 2026, generating revenue of $286.8 million and net income attributable to common shareholders of $2.4 million, after a loss a year earlier. Gross profit was $170.1 million, for a gross margin of about 59%.
The company produced adjusted EBITDA of $100.4 million, equal to a 35% margin, and free cash flow of $42.2 million from operating cash flow of $55.7 million and capital expenditures of $13.5 million. Cash rose to $352.9 million at March 31, 2026, while debt, including private placement notes, totaled $290 million at a 9.6% interest rate.
Management expects 2026 cash flow from operations of at least $250 million and capital expenditures of up to $85 million, and anticipates second-quarter 2026 revenue will increase by a low single-digit percentage versus the first quarter. The company highlighted U.S. federal rescheduling of medical marijuana to Schedule III, has applied for Drug Enforcement Agency registration for 206 state-licensed medical locations, and now operates 240 retail dispensaries and over four million square feet of cultivation and processing capacity.
Trulieve Cannabis Corp. will hold a fully virtual annual shareholder meeting on June 9, 2026, at 11:00 a.m. Eastern via www.virtualshareholdermeeting.com/TCNNF2026. Shareholders of record as of April 13, 2026 can vote online, by phone or by mail.
Investors will be asked to set the board size at seven, elect seven directors, approve on a non-binding basis the compensation of named executive officers, and ratify WithumSmith+Brown, PC as auditors for 2026. The board recommends voting “FOR” all proposals. Trulieve uses a majority voting policy for directors and a notice-and-access system to deliver materials.
Trulieve Cannabis Corp. reported that director Thad Beshears has notified the company he will not stand for reelection to the board at the annual meeting of shareholders scheduled for June 9, 2026. Beshears has served as a director since 2015, and his decision is stated to be not due to any disagreement with the company regarding its operations, policies, or practices.
Trulieve Cannabis Corp. Chairman and CEO Kim A. Rivers reported several equity-related transactions. On March 13, 2026, she received a grant of 155,561 stock options with an exercise price of $6.40 per share, expiring on March 13, 2033. She was also granted 218,750 restricted stock units (RSUs), each representing one subordinate voting share; 50% vest on December 1, 2027 and 50% on December 1, 2028.
On March 3, 2026, 8,200 Multiple Voting Shares were converted into 820,000 Subordinate Voting Shares on a one-for-100 basis. Following these transactions, she holds 3,175,920 subordinate voting shares directly. Footnotes state she also holds 151,667 Multiple Voting Shares directly, 9,867 Multiple Voting Shares through Traunch IV LLC (with beneficial ownership disclaimed except for her pecuniary interest), and stock options vested as of December 1, 2025 to acquire 1,152,960 subordinate voting shares.
Trulieve Cannabis Corp. President Jason Pernell received equity awards in the form of restricted stock units (RSUs) and stock options. On March 13, 2026, he was granted 41,668 stock options, each allowing him to buy one subordinate voting share at an exercise price of $6.40 per share, expiring on March 13, 2033. The option vests in three equal annual installments on December 1, 2026, December 1, 2027, and December 1, 2028.
On the same date, he also acquired 58,594 subordinate voting shares as a grant of RSUs, with no cash purchase price. Each RSU represents one subordinate voting share. Half of these RSUs will vest on December 1, 2027, and the remaining half on December 1, 2028. Following the RSU grant, his direct holdings of subordinate voting shares increased to 581,795 shares. Footnotes state that separate trusts associated with him also hold 22,635 and 22,636 Multiple Voting Shares, which are convertible into an aggregate of 4,527,100 subordinate voting shares.
Trulieve Cannabis Corp. reported an equity compensation grant to executive Christine Ann Hersey, Chief Corporate Affairs & Strategy. She received 41,668 stock options with an exercise price of $6.40 per share, expiring on March 13, 2033. These options vest in three equal annual installments on December 1, 2026, December 1, 2027, and December 1, 2028.
Hersey also received 58,594 restricted stock units (RSUs), each representing one subordinate voting share. Half of these RSUs vest on December 1, 2027, and the remaining half on December 1, 2028. Following the RSU grant, she directly holds 143,767 subordinate voting shares. These are compensation-related awards rather than open‑market purchases.
Trulieve Cannabis Corp. Chief Production Officer Kyle Landrum received new equity awards as compensation. He was granted options to buy 41,668 subordinate voting shares at an exercise price of $6.40 per share, expiring on March 13, 2033. These options vest in three equal annual installments on December 1, 2026, December 1, 2027, and December 1, 2028.
Landrum also received 58,594 restricted stock units, each representing one subordinate voting share. Half of these RSUs vest on December 1, 2027 and the remaining half on December 1, 2028. Following the RSU grant, he directly owns 258,776 subordinate voting shares.
Trulieve Cannabis Corp. Chief Financial Officer Jan Reese reported receiving new equity compensation awards. Reese was granted options to buy 41,668 subordinate voting shares at an exercise price of $6.4000 per share, expiring on March 13, 2033. These options vest in three equal annual installments on December 1, 2026, December 1, 2027, and December 1, 2028, and 41,668 options are shown as held after the grant. Reese also received 58,594 restricted stock units, each representing one subordinate voting share. According to the award terms, 50% of these RSUs vest on December 1, 2027 and the remaining 50% vest on December 1, 2028, with 58,594 shares reported as held following this grant. These are compensation-related acquisitions, not open‑market purchases or sales.