Trulieve (TCNNF) director receives grant of 23,438 RSUs

Rhea-AI Filing Summary

Beshears Thad reported acquisition or exercise transactions in this Form 4 filing.

Trulieve Cannabis Corp. director Beshears Thad received an award of 23,438 restricted stock units (RSUs) tied to Subordinate Voting Shares. The grant was reported at a price of zero, indicating a compensation-related award rather than an open‑market purchase.

Each RSU represents the right to receive one Trulieve subordinate voting share. The RSUs will vest on the earliest of the end of his board service, a change of control of Trulieve, or December 1, 2032. After this grant, he directly holds 2,487,043 Subordinate Voting Shares. He also directly holds 15,000 Multiple Voting Shares, which are convertible on a one‑for‑100 basis into an aggregate of 1,500,000 Subordinate Voting Shares.

Insider Trade Summary

Net Buyer: 23,438 shares

Net Buy 1 txn

Insider Beshears Thad

Role Director

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

Holdings After Transaction: Subordinate Voting Shares — 2,487,043 shares (Direct)

Footnotes (2)

1. F1. 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.
2. F2. The reporting person also holds the following securities of the issuer: 15,000 Multiple Voting Shares held directly. Multiple Voting Shares are convertible into Subordinate Voting Shares on a one-for-100 basis (or into an aggregate of 1,500,000 Subordinate Voting Shares).

FAQ

What insider transaction did Trulieve (TCNNF) report for director Beshears Thad?

Trulieve reported that director Beshears Thad received 23,438 restricted stock units linked to Subordinate Voting Shares. The RSUs were granted at a price of zero per unit as compensation, rather than through an open‑market purchase of existing shares.

How do the new RSUs for Trulieve (TCNNF) director Beshears Thad vest?

The 23,438 RSUs vest on the earliest of three events: the end of Beshears Thad’s service on Trulieve’s board, a change of control of Trulieve, or December 1, 2032, aligning the award with long‑term governance and corporate control outcomes.

How many Trulieve (TCNNF) Subordinate Voting Shares does Beshears Thad hold after this Form 4?

Following the RSU grant, Beshears Thad directly holds 2,487,043 Subordinate Voting Shares. These reflect his direct equity position in Trulieve, separate from any additional interests represented by Multiple Voting Shares described in the same filing.

What Multiple Voting Shares related to Trulieve (TCNNF) does Beshears Thad own?

Beshears Thad also directly holds 15,000 Multiple Voting Shares of Trulieve. These shares are convertible into Subordinate Voting Shares on a one‑for‑100 basis, representing a potential total of 1,500,000 Subordinate Voting Shares if fully converted in the future.

Was the Trulieve (TCNNF) RSU grant to Beshears Thad an open‑market stock purchase?

No, the RSU grant was not an open‑market purchase. The Form 4 shows a transaction code “A” at a price of 0.0000 per share, indicating a grant or award of equity compensation rather than a cash stock purchase in the public market.

What does the Form 4 code "A" mean in Trulieve (TCNNF) director Beshears Thad’s filing?

The transaction code “A” indicates a grant, award, or other acquisition of securities. In this case, it reflects Trulieve granting 23,438 RSUs to director Beshears Thad as equity compensation, not a discretionary buy or sell decision in the market.

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

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 03/17/2026 - 04:32 PM Learn about SEC filing dates

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^*

Beshears Thad

(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	2,487,043(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

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.

2. The reporting person also holds the following securities of the issuer: 15,000 Multiple Voting Shares held directly. Multiple Voting Shares are convertible into Subordinate Voting Shares on a one-for-100 basis (or into an aggregate of 1,500,000 Subordinate Voting Shares).

	/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.