Earnings Feed
Start Free
Trulieve Cannabis Corp.·4

Mar 17, 6:23 PM ET

Rivers Kim A. 4

4 · Trulieve Cannabis Corp. · Filed Mar 17, 2026

Research Summary

AI-generated summary of this filing

Updated

Trulieve (TRUL) 10% Owner Rivers Kim Receives RSUs & Converts Shares

What Happened

  • Rivers Kim, listed as a 10% owner of Trulieve Cannabis Corp. (TRUL), converted Multiple Voting Shares into Subordinate Voting Shares and received equity awards. On 2026-03-03 she converted 8,200 Multiple Voting Shares into 820,000 Subordinate Voting Shares (1-for-100 conversion). On 2026-03-13 she received awards/RSUs totaling 218,750 shares and an additional 155,561 RSU-type units, all at $0 (awards/grants). All reported transactions show $0 purchase price/value because these were conversions and equity awards, not cash purchases.

Key Details

  • Transaction dates and amounts:
    • 2026-03-03: Conversion — disposed 8,200 Multiple Voting Shares and acquired 820,000 Subordinate Voting Shares (conversion rate 1 MV → 100 SV). Price: $0; value: $0. (Footnote F1)
    • 2026-03-13: Grants/Awards — acquired 218,750 shares @ $0 (award) and 155,561 shares @ $0 (derivative/RSU). Price: $0; value: $0. (Footnote F2)
  • Shares owned after transactions (per footnotes):
    • Multiple Voting Shares held directly after conversion: 151,667 − 8,200 = 143,467 MV shares.
    • Additional MV shares held by Traunch IV LLC: 9,867 MV (reporting person disclaims beneficial ownership except to extent of pecuniary interest). (Footnote F3)
    • Newly acquired Subordinate Voting Shares from conversion: 820,000 SV shares.
    • Existing vested stock options to acquire 1,152,960 Subordinate Voting Shares (held directly). (Footnote F3)
  • Notable footnotes:
    • F1: MV → SV conversion is one-for-100 and MV shares are convertible at any time with no expiration.
    • F2: RSUs represent contingent rights to receive subordinate shares; 50% vest Dec 1, 2027 and 50% vest Dec 1, 2028.
    • F3–F5: Additional holdings and option vesting schedules are disclosed (see filing); options vest in installments through Dec 1, 2028.
  • Filing timeliness: The Form 4 was filed 2026-03-17 for transactions on 2026-03-03 and 2026-03-13 — this filing is late relative to the standard two-business-day Form 4 deadline.

Context

  • These were not open‑market purchases or sales — the conversion is a structural exchange (MV → SV) and the other items are grants/RSUs. No cash changed hands, so these actions do not indicate a market purchase signal. As a 10% owner (not identified as an officer/CEO in this filing), Rivers Kim’s transactions largely reflect equity class conversion and compensation awards rather than routine buy/sell trading.
  • RSUs vest over future dates (half in 2027, half in 2028); options referenced have multi-year vesting/exercise schedules — these are contingent and subject to vesting conditions, not immediate share sales.

Insider Transaction Report

Form 4
Period: 2026-03-03
Trulieve Cannabis Corp.TRUL
Rivers Kim A.
DirectorChairman and CEO10% Owner
Transactions
  • Conversion

    Subordinate Voting Shares

    [F1]
    2026-03-03+820,000→ 2,957,170 total
  • Award

    Subordinate Voting Shares

    [F2][F3]
    2026-03-13+218,750→ 3,175,920 total
  • Conversion

    Multiple Voting Shares

    [F4][F1]
    2026-03-03−8,200→ 151,667 total
    → Subordinate Voting Shares (820,000 underlying)
  • Award

    Stock Option (Right to Buy)

    [F5]
    2026-03-13+155,561→ 155,561 total
    Exercise: $6.40Exp: 2033-03-13→ Subordinate Voting Shares (155,561 underlying)
Footnotes (5)
  • [F1]Represents the conversion of 8,200 Multiple Voting Shares into 820,000 Subordinate Voting Shares. Each Multiple Voting Share is convertible into Subordinate Voting Shares on a one-for-100 basis.
  • [F2]Represents a grant of restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one Trulieve Cannabis Corp. ("Trulieve") subordinate voting share. 50% of the RSUs will vest on December 1, 2027, and the remaining 50% of the RSUs will vest on December 1, 2028.
  • [F3]The reporting person also holds the following securities of Trulieve: (i) 151,667 Multiple Voting Shares held directly, (ii) 9,867 Multiple Voting Shares held by Traunch IV LLC ("Traunch IV"), over which the reporting person may be deemed to exercise voting and investment control, and (iii) stock options to acquire 1,152,960 Subordinate Voting Shares vested as of December 1, 2025 held directly. Multiple Voting Shares are convertible into Subordinate Voting Shares on a one-for-100 basis (or into an aggregate of 16,153,400 Subordinate Voting Shares). The reporting person disclaims beneficial ownership of the Multiple Voting Shares (and the Subordinate Voting Shares into which they are convertible) held by Traunch IV, except to the extent of her pecuniary interest therein.
  • [F4]Multiple Voting Shares are convertible into Subordinate Voting Shares on a one-for-100 basis. Multiple Voting Shares are convertible at any time and have no expiration date.
  • [F5]The option becomes exercisable in three annual installments, with one-third vesting on December 1, 2026, one-third vesting on December 1, 2027, and one-third vesting on December 1, 2028.
Signature
/s/ Eric Powers, as Attorney-in-Fact|2026-03-17

Documents

1 file
  • 4
    primary_doc.xmlPrimary

    PRIMARY DOCUMENT