TerrAscend (TSNDF) director gets 150,000 low-price options, returns 150,000 high-price options

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

TerrAscend Corp. director Craig A. Collard reported compensation-related option changes. He received an award of 150,000 employee share options, each allowing purchase of one common share at an exercise price of $0.26 per share, expiring on April 24, 2029.

In a separate transaction on the same date, he disposed of 150,000 existing employee share options back to the issuer at an exercise price of $6.44 per share, also expiring on April 24, 2029. These are non-market transactions reflecting option grant and return to the company, not open-market buying or selling of common shares.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Collard Craig A

Role null

Type	Security	Shares	Price	Value
Disposition	Employee Share Option (Right to Buy)	150,000	$0.00	--
Grant/Award	Employee Share Option (Right to Buy)	150,000	$0.00	--

Holdings After Transaction: Employee Share Option (Right to Buy) — 0 shares (Direct, null)

Footnotes (1)

[object Object]

Key Figures

New options granted: 150,000 options New option exercise price: $0.26 per share Options disposed to issuer: 150,000 options +3 more

6 metrics

New options granted 150,000 options Employee share option grant for common shares

New option exercise price $0.26 per share Exercise price for 150,000 newly granted options

Options disposed to issuer 150,000 options Employee share options returned to TerrAscend

Disposed option exercise price $6.44 per share Exercise price for 150,000 options disposed to issuer

Option expiration date April 24, 2029 Expiration for both option grant and disposition

Derivative transactions count 2 transactions One acquisition and one disposition of derivatives

Key Terms

Employee Share Option (Right to Buy), Grant, award, or other acquisition, Disposition to issuer, underlying security

4 terms

Grant, award, or other acquisition financial

"transaction_code_description: "Grant, award, or other acquisition""

Disposition to issuer financial

"transaction_code_description: "Disposition to issuer""

underlying security financial

"underlying_security_title: "Common Shares" as underlying security"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/25/2026 - 07:10 PM Accepted by SEC EDGAR 06/25/2026 - 07:09 PM

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^*

Collard Craig A

(Last)

(First)

(Middle)

C/O TERRASCEND CORP.

77 CITY CENTRE DRIVE, SUITE 501

(Street)

MISSISSAUGA

ONTARIO

L5B 1M5

(City)

(State)

(Zip)

CANADA (FEDERAL LEVEL)

(Country)

2. Issuer Name and Ticker or Trading Symbol
TerrAscend Corp. [ TSNDF ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/24/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Employee Share Option (Right to Buy)	$6.44	06/24/2026		D			150,000	⁽¹⁾	04/24/2029	Common Shares	150,000	⁽¹⁾	0	D
Employee Share Option (Right to Buy)	$0.26	06/24/2026		A		150,000		⁽¹⁾	04/24/2029	Common Shares	150,000	⁽¹⁾	150,000	D

Explanation of Responses:

1. See remarks.

Remarks:

At the annual general meeting of shareholders (AGM) on June 24, 2025, the shareholders approved the modification of previously-granted options held by employees including the Reporting Person such that, conditional on the Reporting Person's continued employment with the Company for a period of at least 12 months (the "Amendment Service Requirement") from June 24, 2025 (the "Amendment Date"), the original exercise price of such options would be modified to $0.26 per common share (the "Market Price"), calculated as the volume weighted average trading price of the Common Shares on the TSX for the five trading days immediately preceding the Amendment Date. On June 24, 2026, the Amendment Service Requirement was satisfied and the original exercise price of the options was automatically modified to the Market Price. All other terms and conditions of the option, including the expiration date, remain unmodified, including the vesting terms as set forth in the Issuer's definitive proxy statement filed on April 28, 2025.

	/s/ Ari Unterman, Attorney-in-Fact	06/25/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did TerrAscend (TSNDF) director Craig Collard report on this Form 4?

Craig Collard reported one option grant and one option disposition involving 150,000 employee share options each. The filing shows a new low-priced option award and a separate return of higher-priced options to TerrAscend, both tied to common shares.

How many options were granted to Craig Collard in the TerrAscend (TSNDF) filing?

The filing shows a grant of 150,000 employee share options to Craig Collard. Each option relates to one TerrAscend common share at a fixed exercise price, forming part of his equity-based compensation rather than an open-market stock purchase.

What is the exercise price and expiration of the new TerrAscend options?

The newly granted 150,000 employee share options have an exercise price of $0.26 per share and expire on April 24, 2029. This means Collard can buy TerrAscend common shares at $0.26 if he exercises before that expiration date.

What options did Craig Collard dispose of in this TerrAscend (TSNDF) Form 4?

Collard disposed of 150,000 employee share options to the issuer in a non-market transaction. These options had a higher exercise price of $6.44 per share and the same April 24, 2029 expiration date as the newly granted option award.

Does this TerrAscend insider filing show open-market buying or selling of shares?

No, the transactions involve employee share options only, not open-market trading of common shares. The Form 4 records a grant of options at $0.26 per share and a disposition of options back to TerrAscend at $6.44 per share.

Is Craig Collard’s TerrAscend Form 4 part of his compensation?

The Form 4 describes a grant categorized as a “Grant, award, or other acquisition” of employee share options. This language indicates the 150,000 options at $0.26 per share are compensation-related rather than a voluntary market purchase of TerrAscend shares.