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TerrAscend Corp.·4

Jun 25, 7:00 PM ET

JW Partners, LP 4

4 · TerrAscend Corp. · Filed Jun 25, 2026

Research Summary

AI-generated summary of this filing

Updated

TerrAscend (TSNDF) 10% Owner Modifies 1.2M Options to $0.26

What Happened

  • JW Asset Management, LLC (a reported 10% owner acting with related entities and Jason G. Wild) recorded derivative transactions on June 24, 2026 that effectively replaced/modified options covering 1,200,000 common shares (200,000 + 1,000,000). The Form 4 shows dispositions to the issuer and corresponding grants/acquisitions of derivative securities with no per-share trade price listed (N/A) because these are option modifications, not open-market trades.
  • Per the filing footnotes, at the issuer’s June 24, 2025 AGM shareholders approved lowering the exercise price of certain employee options to the five-day VWAP ($0.26). The required 12-month service condition was satisfied on June 24, 2026, so the options’ exercise price was automatically changed to $0.26.

Key Details

  • Transaction date: June 24, 2026; Form 4 filed June 25, 2026 (timely).
  • Reported derivative adjustments: 200,000 and 1,000,000 optioned shares (total 1,200,000) shown as dispositions to issuer (D) and grants/acquisitions (A) with price listed as N/A (derivative modification).
  • New exercise price (Market Price): $0.26 per common share, set by 5-day VWAP preceding June 24, 2025.
  • Shares owned after transaction: not specified in the excerpt provided.
  • Notable footnotes: F1 — filing made on behalf of JW Asset Management, JW Partners LP, JW GP, LLC and Jason G. Wild; F2/F3 — amendment approved 6/24/2025 and service requirement satisfied 6/24/2026.
  • Filing timeliness: appears timely (filed the next day).

Context

  • These entries are derivative adjustments (option repricing/modification), not purchases or sales of underlying common stock. No immediate exercise, sale, or cash proceeds are shown in this Form 4 excerpt.
  • The filing is from a 10% owner/related-party group (institutional/insider group), not an ordinary open-market trade by an independent investor.

Insider Transaction Report

Form 4
Period: 2026-06-24
TerrAscend Corp.TSNDF
JW Asset Management, LLC
DirectorExecutive Chairman10% Owner
Transactions
  • Disposition to Issuer

    Employee Share Option (Right to Buy)

    [F2][F3][F1]
    2026-06-24−200,000→ 0 total
    Exercise: $10.79Exp: 2031-03-25→ Common Shares (200,000 underlying)
  • Award

    Employee Share Option (Right to Buy)

    [F2][F3][F1]
    2026-06-24+200,000→ 200,000 total
    Exercise: $0.26Exp: 2031-03-25→ Common Shares (200,000 underlying)
  • Disposition to Issuer

    Employee Share Option (Right to Buy)

    [F2][F3][F1]
    2026-06-24−1,000,000→ 0 total
    Exercise: $3.16Exp: 2028-06-19→ Common Shares (1,000,000 underlying)
  • Award

    Employee Share Option (Right to Buy)

    [F2][F3][F1]
    2026-06-24+1,000,000→ 1,000,000 total
    Exercise: $0.26Exp: 2028-06-19→ Common Shares (1,000,000 underlying)
Footnotes (3)
  • [F1]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.
  • [F2]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.
  • [F3]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.
Signature
JW Asset Management, LLC /s/ Jason Klarreich Jason Klarreich, Attorney-In-Fact|2026-06-25

Documents

2 files