TerrAscend (TSNDF) insiders swap 1.2M options for new $0.26 grants

Rhea-AI Filing Summary

TerrAscend Corp. insiders associated with JW Asset Management and Jason G. Wild reported administrative changes to their employee stock options. On June 24, 2026, a prior shareholder-approved plan took effect, reducing the exercise price of previously granted options to $0.26 per common share.

The filing shows new options for 1,000,000 and 200,000 shares at this $0.26 strike being recorded, while options for the same amounts at higher exercise prices of $3.16 and $10.79 were simultaneously returned to the company. The number of optioned shares is unchanged and no open-market buying or selling occurred.

Insights

Equity compensation analyst

TerrAscend reprices existing insider options without changing share count.

The reporting group linked to JW Asset Management and Jason G. Wild effectively exchanged older, out-of-the-money options for new options on the same 1.2 million shares at a lower exercise price of $0.26.

The change follows prior shareholder approval and a one-year service requirement, indicating this is a structured compensation adjustment rather than a discretionary market trade. Because total optioned shares stay constant and no cash trades occurred, the information is administratively important but not thesis-changing on its own.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider JW Asset Management, LLC, JW Partners, LP, JW GP, LLC, Wild Jason G.

Role Executive Chairman | null | null | null

Type	Security	Shares	Price	Value
Disposition	Employee Share Option (Right to Buy)	200,000	$0.00	--
Grant/Award	Employee Share Option (Right to Buy)	200,000	$0.00	--
Disposition	Employee Share Option (Right to Buy)	1,000,000	$0.00	--
Grant/Award	Employee Share Option (Right to Buy)	1,000,000	$0.00	--

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

Footnotes (1)

1. This Form 4 is being filed by JW Asset Management, LLC (the "Advisor") on behalf of itself and JW Partners, LP ("JWP"), JW GP, LLC (the "General Partner"), and Jason G. Wild ("Wild" and, together with the Advisor, JWP, and the General Partner, the "Reporting Persons"). The Advisor serves as the investment advisor of JWP. The General Partner serves as general partner to JWP. Wild is the managing member of the Advisor and the General Partner. Wild is the Trustee for the Wild Family Foundation and the Howard Wild 2012 Grandchildren's Trust. 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.

Key Figures

New option grant: 1,000,000 options at $0.26 Cancelled option: 1,000,000 options at $3.16 New option grant: 200,000 options at $0.26 +3 more

6 metrics

New option grant 1,000,000 options at $0.26 Employee Share Option, expiration date 2028-06-19

Cancelled option 1,000,000 options at $3.16 Disposition to issuer, expiration date 2028-06-19

New option grant 200,000 options at $0.26 Employee Share Option, expiration date 2031-03-25

Cancelled option 200,000 options at $10.79 Disposition to issuer, expiration date 2031-03-25

Total derivative transactions 4 transactions All are derivative-type option entries

Net market trades 0 shares No buy or sell transactions reported

Key Terms

Employee Share Option (Right to Buy), Disposition to issuer, Amendment Service Requirement, Market Price, +1 more

5 terms

Employee Share Option (Right to Buy) financial

"security_title: "Employee Share Option (Right to Buy)""

Disposition to issuer financial

"transaction_code_description: "Disposition to issuer""

Amendment Service Requirement financial

"conditional on the Reporting Person's continued employment... (the "Amendment Service Requirement")"

Market Price financial

"exercise price of such options would be modified to $0.26 per common share (the "Market Price")"

Market price is the current amount buyers are willing to pay and sellers are willing to accept for a share or other security at a given moment, like the tag on an item in a busy shop that changes with demand. It matters to investors because it determines what you would receive when selling or what you must pay to buy now, reflecting supply, demand and recent news that affect perceived value.

volume weighted average trading price financial

"calculated as the volume weighted average trading price of the Common Shares on the TSX"

Volume weighted average trading price (VWAP) is the average price of a security over a set period, calculated by giving more weight to prices where more shares were traded — in other words, prices with higher volume count more. Investors use VWAP as a benchmark to judge trade execution and market activity: it helps tell whether a buy or sell occurred at a better or worse price than the market’s typical traded level, like comparing your purchase to the crowd’s average.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/25/2026 - 07:00 PM Accepted by SEC EDGAR 06/25/2026 - 07:00 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^*

JW Asset Management, LLC

(Last) (First) (Middle)

1051 N. VENETIAN DRIVE

(Street)

MIAMI BEACH FLORIDA 33139

(City) (State) (Zip)

UNITED STATES

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

2a. Foreign Trading Symbol

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

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

	Form filed by One Reporting Person
X	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)
			Code	V	Amount	(A) or (D)	Price

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
Employee Share Option (Right to Buy)	$10.79	06/24/2026		D			200,000	(2)(3)	03/25/2031	Common Shares	200,000	(2)(3)	0	D(1)
Employee Share Option (Right to Buy)	$0.26	06/24/2026		A		200,000		(2)(3)	03/25/2031	Common Shares	200,000	(2)(3)	200,000	D(1)
Employee Share Option (Right to Buy)	$3.16	06/24/2026		D			1,000,000	(2)(3)	06/19/2028	Common Shares	1,000,000	(2)(3)	0	D(1)
Employee Share Option (Right to Buy)	$0.26	06/24/2026		A		1,000,000		(2)(3)	06/19/2028	Common Shares	1,000,000	(2)(3)	1,000,000	D(1)

1. Name and Address of Reporting Person^*

JW Asset Management, LLC

(Last) (First) (Middle)

1051 N. VENETIAN DRIVE

(Street)

MIAMI BEACH FLORIDA 33139

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

JW Partners, LP

(Last) (First) (Middle)

1051 N. VENETIAN DRIVE

(Street)

MIAMI BEACH FLORIDA 33139

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

JW GP, LLC

(Last) (First) (Middle)

1051 N. VENETIAN DRIVE

(Street)

MIAMI BEACH FLORIDA 33139

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Wild Jason G.

(Last) (First) (Middle)

1051 N. VENETIAN DRIVE

(Street)

MIAMI BEACH FLORIDA 33139

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. This Form 4 is being filed by JW Asset Management, LLC (the "Advisor") on behalf of itself and JW Partners, LP ("JWP"), JW GP, LLC (the "General Partner"), and Jason G. Wild ("Wild" and, together with the Advisor, JWP, and the General Partner, the "Reporting Persons"). The Advisor serves as the investment advisor of JWP. The General Partner serves as general partner to JWP. Wild is the managing member of the Advisor and the General Partner. Wild is the Trustee for the Wild Family Foundation and the Howard Wild 2012 Grandchildren's Trust.

2. 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.

3. 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.

Remarks:

Exhibit 99 - Information Regarding Joint Filers

	JW Asset Management, LLC /s/ Jason Klarreich Jason Klarreich, 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)

FAQ

What insider transactions did TerrAscend (TSNDF) report in this Form 4?

TerrAscend reported administrative changes to employee share options for reporting persons tied to JW Asset Management. New options on 1,000,000 and 200,000 common shares at a $0.26 exercise price were recorded, while options for the same amounts at higher strike prices were surrendered.

Did TerrAscend insiders buy or sell TSNDF shares in the market?

No open-market trades occurred. The Form 4 shows option grants and dispositions to the issuer, not market purchases or sales. Existing options with higher exercise prices were returned, and replacement options at $0.26 were recorded under a previously approved modification.

How many TerrAscend options were affected for the JW Asset Management group?

The filing covers options on a total of 1.2 million TerrAscend common shares. This includes 1,000,000 and 200,000 options where higher strike options were cancelled and matching new options at a $0.26 exercise price were recorded, keeping the share count unchanged.

What exercise prices changed in the TerrAscend (TSNDF) insider options?

Previously granted options with exercise prices of $3.16 and $10.79 per share were replaced by options at $0.26. The new price reflects the market price calculated around the June 24, 2025 amendment date, as approved at TerrAscend’s annual meeting.

Why were TerrAscend insider option prices reset to $0.26?

Shareholders approved modifying certain employee options so their exercise price would equal $0.26, defined as the market price on the amendment date. This change became effective after a one-year employment condition was met on June 24, 2026, without altering vesting or expiration terms.

Who are the reporting persons in this TerrAscend Form 4 filing?

The Form 4 is filed by JW Asset Management, LLC, JW Partners, LP, JW GP, LLC, and Jason G. Wild as a group. The advisor, general partner, and Wild’s managerial roles link these entities for reporting the option modification transactions.