Eric Jackson joins TerrAscend (TSNDF) as CFO with equity-heavy pay package
Rhea-AI Filing Summary
TerrAscend Corp. appointed Eric Jackson as Chief Financial Officer, effective April 27, 2026. Jackson has more than two decades of finance and operational leadership experience, including senior roles at American Signature and L Brands supporting large, multi-location retail businesses.
Under his employment agreement, Jackson will receive a $450,000 annual base salary, a target annual bonus equal to 60% of salary (with the 2026 bonus guaranteed on a pro rata basis), and annual restricted stock units valued at up to 75% of salary. He will also receive options to purchase 300,000 common shares, vesting in four equal annual installments and carrying a ten-year term.
If his employment is terminated without cause or he resigns for good reason, Jackson is entitled to 12 months of salary as severance, a cash amount equal to 12 months of the company’s share of his medical coverage, specified bonus payments, and pro rata vesting of unvested options and RSUs. In a qualifying termination within 24 months after a change of control, cash severance and medical stipends increase to two times these amounts and all unvested equity vests. Post-employment, he is subject to non-solicitation and non-competition covenants for 12 months.
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8-K Event Classification
Key Figures
Key Terms
restricted stock units financial
change of control financial
COBRA Cash Stipend financial
non-competition financial
forward-looking information regulatory
Schedule I drug regulatory
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
* The registrant’s common shares, no par value, trade over-the-counter on OTCQX Best Market under the trading symbol “TSNDF”.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 10, 2026, the Board of Directors (the “Board”) of TerrAscend Corp. (the “Company”) appointed Eric Jackson as the Company’s Chief Financial Officer (“CFO”), effective April 27, 2026.
Mr. Jackson, 50, brings more than two decades of finance and operational leadership experience across retail, consumer, and manufacturing sectors. Most recently, since November 2017, he served for over eight years as Executive Vice President and Chief Financial Officer of American Signature, Inc., a multi-location, omnichannel retailer where Mr. Jackson oversaw finance, accounting, treasury, analytics, IT, real estate, and supply chain functions.
Prior to American Signature, Mr. Jackson spent more than 14 years at L Brands, a publicly traded specialty retailer whose portfolio included Victoria’s Secret, PINK, Bath & Body Works, La Senza, and Henri Bendel. He held senior leadership roles across finance and operations, supporting its large-scale retail and merchandising businesses including as Vice President of Finance at L Brands from April to November of 2017, and Vice President at Victoria’s Secret from September 2009 to March 2017. Over the course of his career, Mr. Jackson has driven operational transformation, optimized cost structures, strengthened liquidity management, improved capital efficiency, and streamlined financial and operational processes to support long-term value creation.
Mr. Jackson holds a Bachelor of Science in Business, from Miami University and a Master of Business Administration from The Ohio State University.
In connection with Mr. Jackson’s appointment as Chief Financial Officer, Mr. Jackson entered into an employment agreement (the “Employment Agreement”), effective April 27, 2026. Pursuant to the Employment Agreement, Mr. Jackson is entitled to receive an annual base salary of $450,000 and is eligible, among other things: (i) to receive an annual performance bonus targeted at 60% of his base salary, for which the Company will guarantee payment for the 2026 calendar year, pro rata calculated based on time worked, and which will be discretionary based on the terms and conditions of the Company’s bonus program as in effect from time to time thereafter, (ii) to participate in the Company’s employee benefit programs and plans and (iii) to receive, on an annual basis, restricted stock units (“RSUs”) with a value of up to 75% of his base salary pursuant to the Company’s Share Unit Plan and as determined by the Board from time to time.
Additionally, in connection with his appointment, Mr. Jackson will be granted stock options to purchase 300,000 common shares of TerrAscend Corp. (the “Option Award”) pursuant to the Company’s Stock Option Plan, subject to requisite approvals. The Option Award will vest in four equal annual installments starting on the first anniversary of the grant date, subject to Mr. Jackson’s continued employment with the Company on each applicable vesting date. The Option Award will have a ten-year term.
If Mr. Jackson’s employment is terminated, without cause or he resigns for good reason (each as defined in the Employment Agreement), he will be entitled to receive (i) his annual base salary accrued and unpaid through the date of termination, together with all accrued and unpaid paid time off and expenses reimbursable pursuant to the Employment Agreement (“Earned Pay”), (ii) severance pay equal to his salary over 12 months, payable in regular installments in accordance with the Company’s standard payroll practices (“Severance Pay”); (iii) a lump-sum payment equal to the Company’s share of Mr. Jackson’s medical coverage under the Company’s group health plan for 12 months (the “COBRA Cash Stipend”), (iv) the accelerated vesting of unvested Options and RSUs (granted subject to the provisions of the Stock Option Plan and RSU Plan, respectively) on a pro-rata basis; (v) the full amount of his target bonus (cash or equivalent) for the prior calendar year if it has not yet been paid, and (vi) the full amount of his target bonus (cash or equivalent) for the then current calendar year.
If Mr. Jackson is determined to have a disability (as defined in the Employment Agreement), he will be entitled to continue to receive his salary and continue to participate in the Company’s employee benefit programs and plans for six months. If, following such six-month period, the Company terminates Mr. Jackson’s employment due to a disability, he will be entitled to receive (i) his Earned Pay, (ii) the COBRA Cash Stipend, (iii) his pro rata bonus, and (iv) his vested RSUs and options which shall be paid in accordance with the Share Unit and Stock Option Plan. In the event of Mr. Jackson’s death while employed by the Company, the personal representative of his estate shall be entitled to receive (i) the Earned Pay, (ii) a pro-rated bonus, and (iii) his vested RSUs and options, which shall be paid in accordance with the Share Unit and Stock Option Plan.
If Mr. Jackson’s employment is terminated for cause (as defined in the Employment Agreement), he will be entitled to receive his Earned Pay.
If Mr. Jackson’s employment is terminated without cause or he resigns for good reason within 24 months following a change of control of the Company, Mr. Jackson will be entitled to a cash payment of two times his Severance Pay, two times his COBRA Cash Stipend, the full amount of his target bonus for the prior calendar year if not yet paid, the full amount of his target bonus for the current calendar year, and his Earned Pay. In addition, in the event of a change of control, 100% of Mr. Jackson’s unvested options and RSUs will accelerate and vest immediately.
Payment of the foregoing severance benefits is generally subject to Mr. Jackson’s execution and non-revocation of a waiver and general release of claims.
Under the Employment Agreement, Mr. Jackson is subject to certain restrictive covenant obligations, including non-solicitation and non-competition obligations for 12 months following termination of employment.
The foregoing description of the Employment Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Employment Agreement, a copy of which is filed with the Securities and Exchange Commission as Exhibit 10.1 to this filing.
Item 7.01 Regulation FD Disclosure.
The Company issued a press release on April 16, 2026 announcing the appointment of Eric Jackson as the Company’s CFO. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that Section, or incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. |
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Description |
10.1 |
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Employment Agreement, effective April 27, 2026, by and between TerrAscend USA, Inc. and Eric Jackson. |
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99.1 |
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Press Release, dated April 16, 2026. |
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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TerrAscend Corp. |
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Date: |
April 16, 2026 |
By: |
/s/ Ziad Ghanem |
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Ziad Ghanem |
TerrAscend Appoints Eric Jackson as Chief Financial Officer
TORONTO, April 16, 2026 - TerrAscend Corp. ("TerrAscend" or the "Company") (TSX: TSND) (OTCQX: TSNDF), a leading North American cannabis operator, today announced the appointment of Eric Jackson as Chief Financial Officer (“CFO”), effective April 27, 2026.
“On behalf of the entire TerrAscend team, we are pleased to welcome Eric as our Chief Financial Officer,” said Ziad Ghanem, President and Chief Executive Officer of TerrAscend. “Eric brings a proven track record of financial and operational leadership across complex, competitive retail and consumer businesses. His expertise in driving efficiency, expanding margins, and navigating dynamic operating environments will be invaluable as we continue to scale and execute on our strategy.”
Mr. Jackson brings more than two decades of finance and operational leadership experience across retail, consumer, and manufacturing sectors. Most recently, he served for over eight years as Executive Vice President and Chief Financial Officer of American Signature, Inc., a multi-location, omnichannel retailer where Mr. Jackson oversaw finance, accounting, treasury, analytics, IT, real estate, and supply chain functions.
Prior to American Signature, Mr. Jackson spent more than 14 years at L Brands, a publicly traded specialty retailer whose portfolio included Victoria’s Secret, PINK, Bath & Body Works, La Senza, and Henri Bendel. He held senior leadership roles across finance and operations, supporting its large-scale retail and merchandising businesses. Over the course of his career, Mr. Jackson has driven operational transformation, optimized cost structures, strengthened liquidity management, improved capital efficiency, and streamlined financial and operational processes to support long-term value creation.
“I am excited to join TerrAscend at an important stage in its growth,” said Eric Jackson. “The Company has built a strong foundation in attractive markets, and I look forward to partnering with the team to enhance financial performance, increase operating leverage, and drive sustainable long-term value for our shareholders.”
Mr. Jackson holds a Bachelor of Science in Business, from Miami University and a Master of Business Administration from The Ohio State University.
About TerrAscend
TerrAscend is a leading TSX-listed cannabis company with interests across the North American cannabis sector, including operations in Pennsylvania, New Jersey, Maryland, Ohio, and California through TerrAscend Growth Corp. and retail operations in Canada. TerrAscend operates The Apothecarium and other dispensary retail locations as well as scaled cultivation, processing, and manufacturing facilities in its core markets. TerrAscend’s cultivation and manufacturing practices yield consistent, high-quality cannabis, providing industry-leading product selection to both the medical and legal adult-use markets. The Company owns or licenses several synergistic businesses and brands including The Apothecarium, Cookies, Ilera Healthcare, Kind Tree, Legend, State Flower, Wana, and Valhalla Confections. For more information visit www.terrascend.com.
Caution Regarding Cannabis Operations in the United States
Investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. Cannabis remains a Schedule I drug under the U.S. Controlled Substances
Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis in the United States. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable US federal money laundering legislation.
While the approach to enforcement of such laws by the federal government in the United States has trended toward non-enforcement against individuals and businesses that comply with medical or adult-use cannabis programs in states where such programs are legal, strict compliance with state laws with respect to cannabis will neither absolve TerrAscend of liability under U.S. federal law, nor will it provide a defense to any federal proceeding which may be brought against TerrAscend. The enforcement of federal laws in the United States is a significant risk to the business of TerrAscend, and any proceedings brought against TerrAscend thereunder may adversely affect TerrAscend’s operations and financial performance.
Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and include, but are not limited to, statements with respect to the Company’s expectations with respect to future revenue and profits; its business outlook, financial profile, and operational efficiencies; its market opportunities, growth prospects in new and existing markets, and M&A strategy. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment, and the availability of licenses, approvals and permits.
Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to, the Company’s ability to generate cash flows from operations and obtain necessary financing on acceptable terms, the Company’s ability to grow and execute on its business strategy, current and future market conditions; risks related to federal, state, provincial, territorial, local and foreign government laws, rules and regulations, including federal and state laws in the United States relating to cannabis operations in the United States; and the risk factors set out in the Company’s most recently filed MD&A, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR+ at www.sedarplus.ca and in the section titled “Risk Factors” in the Company’s Annual Report for the year ended December 31, 2025, filed with the Securities and Exchange Commission on March 12, 2026.
The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether, as a result of new information, future events, or results or otherwise, other than as required by applicable securities laws.
For more information regarding TerrAscend:
Ziad Ghanem
Chief Executive Officer
IR@terrascend.com
689-345-4114
IR@terrascend.com
Investor Relations Contact:
KCSA Strategic Communications
Valter Pinto, Managing Director
Valter@KCSA.com
212-896-1254