Planet 13 Holdings Inc. formalized the departure of Chief Administrative Officer Lee Fraser, who left the company on March 6, 2026. The separation agreement includes a total cash severance payment of $275,000, payable in 11 monthly installments of $25,000. The company will cover COBRA health insurance premiums and a monthly vehicle allowance of $1,264.17 through February 28, 2027. Equity compensation adjustments include the immediate vesting of approximately 333,000 restricted stock units (RSUs) granted in December 2025. The agreement includes a general release of claims, non-disparagement covenants, and a waiver of any post-employment non-competition restrictions.