Trulieve president Jason Pernell resigns

Trulieve Cannabis Corp. announced that President Jason Pernell has terminated his employment and his role as President effective June 11, 2026.

Rhea-AI Filing Summary

Trulieve Cannabis Corp. announced that President Jason Pernell has terminated his employment and his role as President effective June 11, 2026. The parties entered into a Separation Agreement and General Release that includes mutual releases of certain claims.

Mr. Pernell agreed not to sell, transfer, or otherwise monetize his Trulieve subordinate voting shares or other equity securities held in his name for one year from the Separation Agreement date. In return, and contingent on his compliance with the agreement, he remains eligible for his second quarter 2026 performance bonus and a prorated portion of his 2026 target performance bonus after 2026 earnings, receives a $15,000 severance payment, continued COBRA medical, dental, and vision premiums for up to 18 months or until he obtains similar coverage, and vesting of any issued and unvested annual equity awards as of the termination date.

Insights

Corporate governance analyst

Trulieve’s president exits with a modest, structured separation package.

The departure of President Jason Pernell is formalized through a Separation Agreement and General Release. The package combines cash, benefits, and equity vesting while imposing a one-year restriction on transferring his Trulieve equity, which helps limit immediate insider selling pressure.

The economic terms are relatively modest, with a $15,000 severance payment, COBRA premiums for up to 18 months, and vesting of existing annual equity awards. Bonus eligibility is tied to customary practices and 2026 earnings, and all benefits remain contingent on his ongoing compliance with the agreement’s terms.

8-K Event Classification

2 items: 5.02, 9.01

2 items

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Severance payment: $15,000 COBRA coverage period: Up to 18 months Lock-up period: 1 year +3 more

6 metrics

Severance payment $15,000 Cash severance under Separation Agreement

COBRA coverage period Up to 18 months Company-paid COBRA premiums after termination

Lock-up period 1 year Restriction on selling or monetizing Trulieve equity

Termination date June 11, 2026 Effective date of employment termination and separation agreement

Q2 2026 performance bonus eligibility Quarterly bonus Payable under customary practices if agreement conditions met

2026 target performance bonus Prorated portion Payable after 2026 earnings if conditions are met

Key Terms

Separation Agreement and General Release, COBRA, subordinate voting shares, performance bonus, +1 more

5 terms

Separation Agreement and General Release regulatory

"entered into a Separation Agreement and General Release, dated as of June l1, 2026"

COBRA financial

"continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”)"

COBRA is a U.S. federal law that lets employees and their dependents temporarily keep employer-sponsored health insurance after job loss, reduction in hours, or other qualifying events by paying the premiums themselves. Investors should care because offering COBRA can affect a company’s cash flow, administrative costs and legal disclosures when workforce changes occur—similar to a former club member paying to keep their membership active after leaving the club.

subordinate voting shares financial

"the Company’s subordinate voting shares or other equity securities held in his name"

Subordinate voting shares are a type of company stock that typically carry fewer voting rights than regular shares, meaning holders have less influence over company decisions. They are often used to raise capital while allowing founders or main shareholders to retain control. For investors, understanding the difference helps assess their level of influence in company decisions and the potential risks or benefits of holding different types of shares.

performance bonus financial

"the quarterly performance bonus for the second quarter of fiscal year 2026"

annual equity awards financial

"the vesting of any issued and unvested annual equity awards upon the Termination Date"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What leadership change did Trulieve Cannabis Corp. (TCNNF) disclose?

Trulieve Cannabis Corp. disclosed that President Jason Pernell terminated his employment and position as President effective June 11, 2026. His exit is governed by a Separation Agreement and General Release outlining mutual claims releases and specific compensation, benefits, and equity-related provisions tied to his departure.

What severance payment does Jason Pernell receive from Trulieve (TCNNF)?

Jason Pernell is entitled to a severance payment of $15,000 under his Separation Agreement. This cash payment is part of a broader package that also includes COBRA premium coverage, bonus eligibility, and equity vesting, all contingent on his continued compliance with the agreement’s terms.

How long is Jason Pernell restricted from selling Trulieve Cannabis (TCNNF) shares?

Jason Pernell agreed not to sell, grant, pledge, dispose of, or monetize Trulieve’s subordinate voting shares or other equity securities held in his name for one year. This one-year restriction starts on the date of the Separation Agreement signed on June 11, 2026.

What health benefits does Trulieve provide Jason Pernell after his resignation?

If Jason Pernell elects COBRA continuation coverage, Trulieve will pay the full COBRA premiums for medical, dental, and vision coverage for him and covered dependents until the earlier of 18 months after termination or when he obtains substantially similar coverage from another employer.

What happens to Jason Pernell’s equity awards at Trulieve Cannabis Corp.?

Under the Separation Agreement, any issued and unvested annual equity awards held by Jason Pernell vest as of the June 11, 2026 termination date. This accelerates vesting on those annual awards while other agreement benefits remain conditioned on his ongoing compliance with the agreement’s provisions.

Is Jason Pernell still eligible for bonuses from Trulieve after leaving?

Yes. Subject to compliance with the Separation Agreement, he remains eligible for the second quarter 2026 performance bonus and a prorated portion of his 2026 target performance bonus. These bonuses are payable under Trulieve’s customary executive bonus payment practices after 2026 earnings are determined.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/12/2026 - 08:12 AM Learn about SEC filing dates

false000175419500017541952026-06-082026-06-0800017541952026-06-112026-06-11

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

____________________

FORM 8-K

___________________

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): June 11, 2026

___________________

TRULIEVE CANNABIS CORP.

(Exact Name of Registrant as specified in its charter)

___________________

British Columbia			000-56248			84-2231905
(State or Other Jurisdiction of Incorporation)			(Commission File Number)			(IRS Employer Identification No.)

3494 Martin Hurst Road
Tallahassee, FL 32312
(Address of principal executive offices and zip code)

(850) 298-8866

(Registrant’s telephone number, including area code)

Not Applicable

(Registrant’s name or former address, if change since last report)

___________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Subordinate Voting Shares, no par value

TRLV

The New York Stock Exchange LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging Growth Company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards pursuant to Section 13(a) of the Exchange Act. o

Item 5.02    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Resignation of Jason Pernell as President

On June 11, 2026 (the “Termination Date”), the Company and Jason Pernell mutually agreed that Mr. Pernell shall terminate his employment his position of President of Trulieve Cannabis Corp. (the “Company”) effective immediately. In connection with this termination, Mr. Pernell and the Company entered into a Separation Agreement and General Release, dated as of June l1, 2026 (the “Separation Agreement”).

Pursuant to the Separation Agreement, each of the Company and Mr. Pernell agreed to a mutual release of certain claims, and Mr. Pernell agreed not to, among other things, sell, grant, secure, pledge, or otherwise transfer, dispose of or monetize the Company’s subordinate voting shares or other equity securities held in his name for a period of one year from the date of the Separation Agreement.

Contingent upon Mr. Pernell’s compliance with all the provisions of the Separation Agreement, he is entitled to (i) the quarterly performance bonus for the second quarter of fiscal year 2026 pursuant to the Company’s customary executive bonus payment practices and (ii) be paid a prorated portion of the balance of the target performance bonus for fiscal year 2026 pursuant to the Company’s customary executive bonus payment practices after 2026 earnings.

The Separation Agreement also provides Mr. Pernell with, among other things:

•a severance payment of $15,000;

•if Mr. Pernell elects continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), the Company shall pay on the Employee’s behalf the full amount of the COBRA premium due for medical, dental, and vision coverage for the Employee and any of the Employee’s covered dependents which is equivalent to the coverage the Employee maintained prior to termination of the Employee’s employment with the Company until the earliest of (i) the eighteenth month anniversary of the Employee’s termination date, or (ii) the date on which the Employee either receives or becomes eligible to receive substantially similar coverage from another employer; and

•the vesting of any issued and unvested annual equity awards upon the Termination Date.

Item 9.01.    Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.						Description
104						Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Trulieve Cannabis Corp.
By:						/s/ Eric Powers
Name:						Eric Powers
Title:						Chief Legal Officer

Date: June 12, 2026

Filing Exhibits & Attachments

3 documents

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 1.7 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 21.1 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 12.2 KB