Form 4: Trulieve President Reports RSU Tax Withholding

Trulieve Cannabis Corp. President Jason Pernell reported a disposition of 7,009 Subordinate Voting Shares for tax liability following restricted stock unit vesting.

Summary

• Jason Pernell, President of Trulieve Cannabis Corp. (TRUL), reported a transaction on December 1, 2025.
• The transaction involved the disposition of 7,009 Subordinate Voting Shares, which were withheld for payment of tax liability.
• This withholding was in connection with the vesting of previously granted restricted stock units (RSUs).
• The shares were valued at $5.39 per share for the purpose of this tax-related transaction.
• Following this transaction, Jason Pernell directly beneficially owns 523,201 Subordinate Voting Shares.
• Pernell also holds indirect beneficial ownership of 22,635 Multiple Voting Shares through the JASON B PERNELL TR KFP IRREVOCABLE TRUST DTD 03/02/2020.
• An additional 22,636 Multiple Voting Shares are indirectly held through the KATHRYN FIELD PERNELL & TY ROOFNER TR JBP 2020 IRREVOCABLE TRUST DTD 01/06/2020.
• Multiple Voting Shares are convertible into Subordinate Voting Shares on a one-for-100 basis, meaning the indirect holdings represent an aggregate of 4,527,100 potential Subordinate Voting Shares.

Sentiment

Score: 5

Explanation: The filing is a routine compliance report for an insider transaction related to tax withholding on RSU vesting, which is a neutral event with no inherent positive or negative implications for the company's operational or financial performance.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This is a routine insider transaction filing (Form 4) and does not provide specific information to analyze broader industry trends or competitive landscape within the cannabis sector. It reflects an individual executive's compensation-related stock activity.

Related Party Transactions

• Jason Pernell has indirect beneficial ownership of Multiple Voting Shares through two irrevocable trusts: JASON B PERNELL TR KFP IRREVOCABLE TRUST DTD 03/02/2020 (22,635 shares) and KATHRYN FIELD PERNELL & TY ROOFNER TR JBP 2020 IRREVOCABLE TRUST DTD 01/06/2020 (22,636 shares). These trusts are considered related parties for beneficial ownership reporting purposes.

Stakeholder Impact

• Shareholders: Minimal impact as this is a routine, non-discretionary transaction for tax purposes related to executive compensation.
• Employees: No direct impact on general employees.
• Customers/Suppliers/Creditors: No direct impact.

Key Dates

Keywords

Trulieve Cannabis Corp., TRUL, Jason Pernell, Insider Transaction, Form 4, Restricted Stock Units, RSU Vesting, Tax Withholding, Beneficial Ownership, Subordinate Voting Shares, Multiple Voting Shares, Cannabis Industry