Trulieve Cannabis (OTC: TCNNF) grants RSUs and options to its president

Rhea-AI Filing Summary

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.

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^*

Pernell Jason

(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)
	President

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	581,795(2)	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		(3)	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 reporting person also holds the following securities of Trulieve: (i) 22,635 Multiple Voting Shares held by the JASON B PERNELL TR KFP IRREVOCABLE TRUST DTD 03/02/2020, over which the reporting person may be deemed to exercise voting and investment control, and (ii) 22,636 Multiple Voting Shares held by the KATHRYN FIELD PERNELL & TY ROOFNER TR JBP 2020 IRREVOCABLE TRUST DTD 01/06/2020, over which the reporting person may be deemed to exercise voting and investment control. Multiple Voting Shares are convertible into Subordinate Voting Shares on a one-for-100 basis (or into an aggregate of 4,527,100 Subordinate Voting Shares).

3. 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.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
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FAQ

What insider transactions did Trulieve (TCNNF) report for President Jason Pernell?

Trulieve reported that President Jason Pernell received grants of stock options and restricted stock units. The awards include 41,668 options and 58,594 RSU-based subordinate voting shares, increasing his direct holdings as part of equity compensation rather than open-market buying.

How many Trulieve (TCNNF) shares and options did Jason Pernell acquire?

Jason Pernell was granted 41,668 stock options with a $6.40 exercise price and 58,594 subordinate voting shares via RSUs. After the RSU grant, his direct subordinate voting share holdings totaled 581,795, according to the filing’s post-transaction ownership disclosure.

What are the vesting terms of Jason Pernell’s new Trulieve (TCNNF) RSUs?

The RSU grant of 58,594 subordinate voting shares vests in two tranches. According to the filing, 50% will vest on December 1, 2027, and the remaining 50% will vest on December 1, 2028, subject to the usual award conditions.

When do Jason Pernell’s new Trulieve (TCNNF) stock options vest and expire?

The 41,668 Trulieve stock options vest in three equal annual installments. One-third vests on December 1, 2026, another third on December 1, 2027, and the final third on December 1, 2028. The options expire on March 13, 2033, if not exercised.

Are Jason Pernell’s recent Trulieve (TCNNF) transactions open-market purchases?

No. The transactions are equity compensation grants, not open-market trades. The Form 4 shows transaction code “A” for awards, with a transaction price of $0.00 per share, indicating RSUs and stock options granted as part of his compensation package.

What additional Trulieve (TCNNF) voting power is noted for Jason Pernell in the filing?

Footnotes state that trusts associated with Jason Pernell hold 22,635 and 22,636 Multiple Voting Shares. These are convertible into an aggregate of 4,527,100 subordinate voting shares, and he may be deemed to exercise voting and investment control over those trust-held shares.