Trulieve (TCNNF) executive Hersey details 85,173 shares and options

Rhea-AI Filing Summary

Trulieve Cannabis Corp. executive Christine Ann Hersey, Chief Corporate Affairs & Strategy, has filed an initial statement of beneficial ownership. She directly holds 85,173 subordinate voting shares, which include several grants of restricted stock units that vest over multiple years.

Hersey also holds multiple stock options giving her the right to buy Trulieve subordinate voting shares at exercise prices ranging from $3.99 to $47.23, with expiration dates between 2029 and 2032. These options generally vest in annual installments, with portions already exercisable and the remainder scheduled to vest through December 2027.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Hersey Christine Ann

(Last) (First) (Middle)

C/O TRULIEVE CANNABIS CORP.

6749 BEN BOSTIC ROAD

(Street)

QUINCY FL 32351

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
01/14/2026

3. Issuer Name and Ticker or Trading Symbol
Trulieve Cannabis Corp. [ TRUL ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Corp Affairs & Strategy

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Subordinate Voting Shares	85,173(1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	(2)(3)	09/10/2029	Subordinate Voting Shares	2,925	$47.23	D
Stock Option (Right to Buy)	(2)(4)	02/03/2030	Subordinate Voting Shares	1,097	$27.17	D
Stock Option (Right to Buy)	(2)(5)	12/31/2030	Subordinate Voting Shares	4,387	$18.45	D
Stock Option (Right to Buy)	(6)	02/24/2029	Subordinate Voting Shares	7,955	$21.48	D
Stock Option (Right to Buy)	(7)	02/24/2030	Subordinate Voting Shares	53,754	$3.99	D
Stock Option (Right to Buy)	(8)	03/08/2031	Subordinate Voting Shares	28,519	$10	D
Stock Option (Right to Buy)	(9)	03/25/2032	Subordinate Voting Shares	72,340	$4.03	D

Explanation of Responses:

1. The amount of securities beneficially owned in column 2 includes several grants of restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one Trulieve Cannabis Corp. ("Trulieve") subordinate voting share. The reporting person: (i) was granted 8,380 RSUs on February 24, 2022, subject to 2-year vesting; the RSUs vested 50% on each of December 1, 2023 and December 1, 2024; (ii) was granted 24,156 RSUs on July 25, 2023, subject to 2-year vesting; the RSUs vested 50% on each of December 1, 2024 and December 1, 2025; (iii) was granted 15,750 RSUs on March 8, 2024, subject to 2-year vesting; the RSUs vested 50% on December 1, 2025 and will vest 50% on December 1, 2026; and (iv) was granted 43,424 RSUs on March 25, 2025, subject to 2-year vesting; the RSUs will vest 50% on December 1, 2026 and 50% on December 1, 2027.

2. These options were originally granted under the Harvest Health & Recreation Inc. 2018 Stock and Incentive Plan and, in connection with Trulieve's acquisition of Harvest Health & Recreation Inc. on October 1, 2021, were converted into options to purchase Trulieve subordinate voting shares at an adjusted exercise price.

3. The options were granted on September 10, 2019, and vest 25% per year in equal installments, starting on the grant date. One fourth of the options vested and became exercisable on each of September 10, 2019, September 10, 2020, September 10, 2021 and September 10, 2022.

4. The options were granted February 3, 2020, and vest 25% per year in equal installments, starting on September 10, 2019. One fourth of the options vested and became exercisable on each of September 10, 2019, September 10, 2020, September 10, 2021 and September 10, 2022.

5. The options were granted on December 31, 2020, and vest 50% per year in equal installments, starting on the grant date. One half of the options vested and became exercisable on each of December 31, 2020 and December 31, 2021.

6. The options were granted on February 24, 2022, and vest 33% per year in equal installments, starting on December 1 of the grant year. One third of the options vested and became exercisable on each of December 1, 2022, December 1, 2023 and December 1, 2024.

7. The options were granted on July 25, 2023, and vest 33% per year in equal installments, starting on December 1 of the grant year. One third of the options vested and became exercisable on each of December 1, 2023, December 1, 2024 and December 1, 2025.

8. The options were granted on March 8, 2024, and vest 33% per year in equal installments, starting on December 1 of the grant year. One third of the options vested and became exercisable on each of December 1, 2024 and December 1, 2025, and one third of the options will vest and become exercisable on December 1, 2026.

9. The options were granted on March 25, 2025, and vest 33% per year in equal installments, starting on December 1 of the grant year. One third of the options vested and became exercisable on December 1, 2025, one third of the options will vest and become exercisable on December 1, 2026, and one third of the options will vest and become exercisable on December 1, 2027.

Remarks:

Exhibit 24 Power of Attorney filed herewith.

	/s/ Eric Powers, as Attorney-in-Fact	01/27/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What does Trulieve Cannabis Corp. (TCNNF) Form 3 for Christine Ann Hersey show?

The Form 3 shows that executive Christine Ann Hersey beneficially owns 85,173 subordinate voting shares of Trulieve Cannabis Corp. It also details several stock option grants and restricted stock units that vest over time, providing potential additional share ownership if fully exercised and vested.

How many Trulieve (TCNNF) shares does Christine Ann Hersey beneficially own on Form 3?

Christine Ann Hersey is reported as beneficially owning 85,173 subordinate voting shares of Trulieve Cannabis Corp. This amount includes multiple grants of restricted stock units, each representing a contingent right to receive one subordinate voting share upon vesting under specified schedules.

What stock options are reported for Christine Ann Hersey in the Trulieve (TCNNF) Form 3?

Hersey holds several stock options to buy Trulieve subordinate voting shares, with individual grants covering 2,925, 1,097, 4,387, 7,955, 53,754, 28,519, and 72,340 shares. Exercise prices range from $3.99 to $47.23, expiring between 2029 and 2032.

How do Christine Ann Hersey’s RSUs vest according to the Trulieve (TCNNF) Form 3?

The filing explains that Hersey received several RSU grants that generally vest over two years. Specific grants from 2022, 2023, 2024, and 2025 vest in 50% or one-third installments on December 1 dates from 2023 through 2027, creating a staggered vesting schedule.

Are Christine Ann Hersey’s Trulieve (TCNNF) stock options fully vested?

No, the stock options follow various vesting schedules. Many earlier grants have fully vested, while later grants vest in annual installments. Some portions vest on December 1 dates through 2026 and 2027, meaning a portion remains unvested and becomes exercisable over time.

What is the significance of Trulieve’s acquisition of Harvest Health & Recreation in this Form 3?

The filing notes that certain options were originally granted under the Harvest Health & Recreation Inc. 2018 Stock and Incentive Plan. After Trulieve’s acquisition of Harvest on October 1, 2021, these options were converted into options to purchase Trulieve subordinate voting shares at adjusted exercise prices.