Trulieve (TCNNF) grants RSUs and stock options to top executive

Rhea-AI Filing Summary

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.

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Hersey Christine Ann

(Last) (First) (Middle)

C/O TRULIEVE CANNABIS CORP.

3494 MARTIN HURST ROAD

(Street)

TALLAHASSEE FL 32312

(City) (State) (Zip)

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

5. 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

3. Date of Earliest Transaction (Month/Day/Year)
03/13/2026

4. 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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Subordinate Voting Shares	03/13/2026		A		58,594(1)	A	$0	143,767	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	$6.4	03/13/2026		A		41,668		(2)	03/13/2033	Subordinate Voting Shares	41,668	$0	41,668	D

Explanation of Responses:

1. Represents a grant of restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one Trulieve Cannabis Corp. ("Trulieve") subordinate voting share. 50% of the RSUs will vest on December 1, 2027, and the remaining 50% of the RSUs will vest on December 1, 2028.

2. The option becomes exercisable in three annual installments, with one-third vesting on December 1, 2026, one-third vesting on December 1, 2027, and one-third vesting on December 1, 2028.

	/s/ Eric Powers, as Attorney-in-Fact	03/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transactions were reported for Trulieve (TCNNF) in this Form 4?

The filing reports equity awards to executive Christine Ann Hersey, including 41,668 stock options and 58,594 restricted stock units. These are compensation-related grants, not open-market trades, and increase her potential ownership in Trulieve Cannabis subordinate voting shares over time.

How many stock options did Christine Hersey receive from Trulieve (TCNNF)?

Christine Hersey received 41,668 stock options for Trulieve subordinate voting shares at an exercise price of $6.40. The options vest in three equal annual installments starting December 1, 2026 and expire March 13, 2033, aligning her incentives with longer-term company performance.

What restricted stock unit (RSU) awards did Trulieve (TCNNF) grant in this filing?

Trulieve granted 58,594 restricted stock units to Christine Hersey, each representing one subordinate voting share. Half of the RSUs vest on December 1, 2027, and the remaining half on December 1, 2028, creating a multi-year retention and incentive structure tied to future service.

When do Christine Hersey’s Trulieve (TCNNF) stock options vest and expire?

The options vest in three annual tranches: one-third on December 1, 2026, one-third on December 1, 2027, and one-third on December 1, 2028. All 41,668 options carry a $6.40 exercise price and expire on March 13, 2033 if not exercised by then.

How many Trulieve (TCNNF) shares does Christine Hersey own after these grants?

Following the RSU award, Christine Hersey directly holds 143,767 subordinate voting shares of Trulieve Cannabis. In addition, she has 41,668 stock options outstanding, which provide the right to buy more shares at $6.40 if vested and exercised in the future.

Are the Trulieve (TCNNF) Form 4 transactions open-market buys or compensation grants?

The transactions are compensation grants, not open-market purchases. They consist of stock options and restricted stock units awarded at no cash cost per share, with vesting schedules extending from December 1, 2026 through December 1, 2028 to encourage long-term alignment with shareholders.