Director at Trulieve (TCNNF) granted 23,438 RSUs in equity award

Rhea-AI Filing Summary

Trulieve Cannabis Corp. director Richard S. May reported an equity compensation grant of 23,438 restricted stock units (RSUs) tied to the company’s subordinate voting shares. The award was recorded at no cash purchase price, reflecting a compensation-related, not open-market, acquisition.

Each RSU represents the right to receive one subordinate voting share. The RSUs will vest on the earliest of the end of May’s board service, a change of control of Trulieve, or December 1, 2032. Following this grant, May directly holds 593,534 subordinate voting shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider May Richard S.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Subordinate Voting Shares	23,438	$0.00	--

Holdings After Transaction: Subordinate Voting Shares — 593,534 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

May Richard S.

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

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		23,438(1)	A	$0	593,534	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

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. The RSUs will vest on the earliest of (i) the end of the reporting person's service on the board of directors of Trulieve, (ii) a change of control of Trulieve, or (iii) December 1, 2032.

	/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.
* If the form is filed by more than one reporting person, see Instruction 4 (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 insider transaction did Trulieve (TCNNF) report for Richard S. May?

Trulieve reported that director Richard S. May received 23,438 restricted stock units as an equity award. Each RSU represents a right to one subordinate voting share, increasing his direct holdings to 593,534 shares after the grant, with no cash purchase involved.

How do the new RSUs granted to Richard S. May at Trulieve (TCNNF) vest?

The 23,438 RSUs granted to Richard S. May vest on the earliest of three events: the end of his service on Trulieve’s board, a change of control of the company, or December 1, 2032, creating a long-term, service-based incentive structure.

Did Richard S. May buy or sell Trulieve (TCNNF) shares in this Form 4?

This Form 4 shows an acquisition through a grant, not a market trade. Richard S. May received 23,438 RSUs as compensation, recorded at a price of $0.0000 per unit, with no reported open-market buying or selling of Trulieve subordinate voting shares.

What is Richard S. May’s Trulieve (TCNNF) share ownership after this RSU grant?

After the reported RSU grant, Richard S. May directly holds 593,534 subordinate voting shares of Trulieve. This total reflects his ownership position following the 23,438-unit restricted stock award described in the Form 4 insider transaction report.

What type of security was granted to Richard S. May by Trulieve (TCNNF)?

Trulieve granted Richard S. May restricted stock units linked to subordinate voting shares. Each RSU represents a contingent right to receive one Trulieve subordinate voting share, subject to vesting conditions tied to board service, change of control, or the December 1, 2032 date.