TerrAscend Corp. has called a fully virtual annual meeting for June 9, 2026 at 1:00 p.m. Eastern Time to let shareholders vote on key governance and compensation matters. Holders of common shares as of April 13, 2026 can vote one share per vote.
Shareholders will elect five directors, ratify MNP LLP as auditor for 2026, and vote on renewing all unallocated awards under TerrAscend’s rolling Stock Option Plan and Share Unit Plan, which together may cover up to 15% of outstanding shares. The circular also highlights U.S. federal legal risks to its cannabis operations and outlines detailed proxy, broker, and virtual participation procedures.
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.
TerrAscend Corp. Chief People and Legal Officer Lynn K. Gefen reported routine share withholdings to cover taxes on equity compensation. On two dates, a total of 13,003 Common Shares were withheld by the company to satisfy tax obligations tied to restricted share unit settlement under its equity plan. After these tax-withholding dispositions, Gefen directly holds 1,081,715 Common Shares.
TerrAscend Corp. reported an insider transaction by President and CEO Ziad Ghanem involving share withholdings for tax purposes rather than market sales. On two dates, the company withheld common shares to cover tax obligations tied to restricted share unit settlements under its equity plan.
The issuer withheld 22,017 common shares at $0.66 per share and 9,998 common shares at $0.62 per share, totaling 32,015 shares. After these tax-withholding dispositions, Ghanem directly owned 2,864,884 common shares of TerrAscend.
TerrAscend Corp. reported that Chief People and Legal Officer Lynn K. Gefen received an award of 540,254 restricted share units (RSUs) on common shares, which will vest in equal annual installments over four years starting on April 3, 2026, subject to continued service. In a related move, 50,879 common shares were withheld by the company at $0.68 per share to cover tax obligations tied to RSU settlement. After these transactions, Gefen directly holds 1,094,718 common shares.
TerrAscend Corp. reported that President and CEO Ziad Ghanem received an award of 1,388,040 common-share RSUs, granted at $0.00 per share. These restricted share units vest in equal annual installments over four years starting on April 3, 2026, contingent on his continuous service.
In a related transaction on April 4, 105,051 common shares were withheld at $0.68 per share to cover tax obligations arising from RSU settlement under the company’s equity plan, rather than sold in the open market. After these transactions, Ghanem directly holds 2,896,899 common shares of TerrAscend.
TerrAscend Corp. President and CEO Ziad Ghanem reported a small tax-related share disposition. On the reported date, 3,027 Common Shares were withheld by the company at a price of $0.70 per share to cover his tax withholding obligations tied to restricted share unit settlement. After this withholding, he directly holds 1,613,910 Common Shares, indicating this was a routine compensation-related event rather than an open-market sale.
TerrAscend Corp. reported Q4 2025 net revenue of $66.1 million and full-year 2025 revenue of $260.6 million, slightly below 2024’s $268.1 million. Gross profit margin from continuing operations improved to 52.3% for 2025, up from 50.7%.
GAAP net loss from continuing operations was $24.5 million in 2025 versus $20.9 million in 2024, while Adjusted EBITDA from continuing operations was $67.8 million, compared with $70.2 million a year earlier. Adjusted EBITDA margin held broadly steady at 26.0%.
The company generated $33.9 million of net cash from continuing operations and $25.3 million of Free Cash Flow in 2025, marking its fourteenth consecutive quarter of positive operating cash flow. Cash and cash equivalents were $37.4 million at year-end.
TerrAscend refinanced $79 million of debt on a non-dilutive basis and added an uncommitted term loan facility of up to $35 million for strategic M&A. It advanced its strategic exit from Michigan, expanded in Ohio via the Ratio Cannabis acquisition, and renewed a share repurchase program of up to $10 million.
TerrAscend Corp. files its annual report describing a vertically integrated North American cannabis business and extensive regulatory risks. The company operates cultivation and processing facilities in Pennsylvania, New Jersey, Maryland and California, plus retail dispensaries in Ohio and Ontario under brands such as The Apothecarium, Kind Tree, Legend and Valhalla.
It highlights exposure to U.S. federal illegality of cannabis, potential IRS scrutiny under Section 280E, and uncertainty around possible rescheduling from Schedule I to Schedule III. As of June 30, 2025, non‑affiliate equity had an aggregate market value of $54,896,668, with 308,532,518 common shares outstanding as of March 11, 2026 and a workforce of 1,038 employees as of December 31, 2025.