TSNDF Form 4: TerrAscend director reports November 2025 share sales

Rhea-AI Filing Summary

TerrAscend Corp. (TSNDF) director reports share sales and updated holdings. The reporting person sold 250,000 common shares on 11/21/2025 at a weighted-average price of $0.4146 per share and 296,174 common shares on 11/24/2025 at a weighted-average price of $0.4396 per share. After these transactions, the director beneficially owned 2,749,511 common shares following the first sale and 2,453,337 common shares following the second sale, held directly.

The filing explains that the shares sold were originally purchased in open market transactions between November 18, 2021 and March 21, 2022 at prices ranging from $5.53 to $6.30 per share and are being sold for tax reasons. It also notes that an aggregate of 1,041,021 shares were purchased on May 13, 2025 in multiple transactions at prices ranging from $0.37 to $0.43 per share, so the reporting person expects to hold approximately the same number of shares at a lower tax basis at the end of the current fiscal year compared to the prior year.

Insider Trade Summary

Net Seller: 546,174 shares ($233,848)

Net Sell 2 txns

Insider SCHUTTER EDWARD J

Role Director

Sold 546,174 shs ($234K)

Type	Security	Shares	Price	Value
Sale	Common Shares	296,174	$0.4396	$130K
Sale	Common Shares	250,000	$0.4146	$104K

Holdings After Transaction: Common Shares — 2,453,337 shares (Direct)

Footnotes (1)

1. The shares reported as dispositions were originally purchased in open market transactions between November 18, 2021 and March 21, 2022 at prices ranging from $5.53 to $6.30 per share, inclusive, and are being sold for tax reasons. An aggregate of 1,041,021 shares were purchased in multiple transactions at prices ranging from $0.37 to $0.43, inclusive, on May 13, 2025, and as such, the Reporting Person expects to hold approximately the same number of shares at a lower tax basis at the end of the current fiscal year compared to the prior year. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $0.4047 to $0.4202, inclusive. The Reporting Person undertakes to provide to TerrAscend, any security holder of TerrAscend, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (2) to this Form 4. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $0.4322 to $0.4528, inclusive. The Reporting Person undertakes to provide to TerrAscend, any security holder of TerrAscend, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (3) to this Form 4.

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
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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^*

SCHUTTER EDWARD J

(Last) (First) (Middle)

C/O TERRASCEND CORP.

77 CITY CENTRE DRIVE, SUITE 501

(Street)

MISSISSAUGA A6 L5B 1M5

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
11/21/2025

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
Common Shares	11/21/2025		S		250,000(1)	D	$0.4146(2)	2,749,511	D
Common Shares	11/24/2025		S		296,174(1)	D	$0.4396(3)	2,453,337	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. The shares reported as dispositions were originally purchased in open market transactions between November 18, 2021 and March 21, 2022 at prices ranging from $5.53 to $6.30 per share, inclusive, and are being sold for tax reasons. An aggregate of 1,041,021 shares were purchased in multiple transactions at prices ranging from $0.37 to $0.43, inclusive, on May 13, 2025, and as such, the Reporting Person expects to hold approximately the same number of shares at a lower tax basis at the end of the current fiscal year compared to the prior year.

2. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $0.4047 to $0.4202, inclusive. The Reporting Person undertakes to provide to TerrAscend, any security holder of TerrAscend, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (2) to this Form 4.

3. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $0.4322 to $0.4528, inclusive. The Reporting Person undertakes to provide to TerrAscend, any security holder of TerrAscend, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (3) to this Form 4.

	/s/ Lynn Gefen, Attorney-in-Fact	11/24/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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