Rivers Kim A. 4
4 · Trulieve Cannabis Corp. · Filed Jun 22, 2026
Research Summary
AI-generated summary of this filing
Trulieve (TRLV) 10% Owner Rivers Kim Sells 482,196 Shares
What Happened
Rivers Kim, a reported 10% owner of Trulieve Cannabis Corp. (TRLV), sold a total of 482,196 subordinate voting shares in open‑market transactions in mid‑June 2026. The three tranches were: 137,535 shares at a weighted average $9.36 ($1,287,190), 139,846 shares at a weighted average $9.46 ($1,322,943), and 204,815 shares at a weighted average $9.35 ($1,915,840) — total proceeds about $4.53 million. These were sales (not purchases).
Key Details
- Transaction dates and weighted average prices:
- 2026-06-17: 137,535 shares @ $9.36 (total $1,287,190). Prices ranged $9.11–$9.65. (Footnote F2)
- 2026-06-18: 139,846 shares @ $9.46 (total $1,322,943). Prices ranged $9.27–$9.72. (Footnote F3)
- 2026-06-22: 204,815 shares @ $9.35 (total $1,915,840). Prices ranged $9.22–$9.52. (Footnote F4)
- These sales were effected pursuant to a Rule 10b5‑1 plan adopted March 16, 2026 to sell up to 2.5 million shares; a Form 144 covering the first tranche of 1,699,007 subordinate voting shares was filed June 17, 2026. Remaining tranche eligibility after Sept 15, 2026. (Footnote F1)
- The filer also holds Multiple Voting Shares (convertible one‑for‑100 to subordinate shares) held by Traunch IV LLC; Rivers Kim disclaims beneficial ownership of those shares except for any pecuniary interest. (Footnotes F5–F7)
- Shares owned after the transactions are not shown in the excerpt — see the Form 4 (Table II) for current beneficial ownership details.
- Filing: Form 4 was filed on 2026-06-22 for transactions beginning 2026-06-17. No late‑filing flag was included in the provided excerpt; consult the official SEC filing for timeliness status.
Context
- These were planned sales under a 10b5‑1 trading plan, which is a prearranged program that allows insiders to sell shares at scheduled times; such sales are typically considered routine and do not by themselves indicate insider sentiment.
- As a reported 10% owner (not necessarily an executive trade), these transactions are material in size but consistent with disposition from a planned program rather than ad hoc trading.
Insider Transaction Report
Form 4
Rivers Kim A.
DirectorChairman and CEO10% Owner
Transactions
- Sale
Subordinate Voting Shares
[F1][F2]2026-06-17$9.36/sh−137,535$1,287,190→ 3,038,385 total - Sale
Subordinate Voting Shares
[F1][F3]2026-06-18$9.46/sh−139,846$1,322,943→ 2,898,539 total - Sale
Subordinate Voting Shares
[F1][F4][F5]2026-06-22$9.35/sh−204,815$1,915,840→ 2,693,724 total
Holdings
- 151,667
Multiple Voting Shares
[F6]Exercise: $0.00→ Subordinate Voting Shares (15,166,700 underlying) - 9,867(indirect: By LLC)
Multiple Voting Shares
[F6][F7]Exercise: $0.00→ Subordinate Voting Shares (986,700 underlying)
Footnotes (7)
- [F1]This transaction was effected pursuant to a Rule 10b5-1 plan to sell 2.5 million shares adopted by the reporting person on March 16, 2026. A Form 144 covering the first tranche of 1,699,007 subordinate voting shares was filed on June 17, 2026. The second tranche of remaining shares will be eligible for sale after September 15, 2026.
- [F2]Represents a weighted average sales price per share. These shares were sold in multiple transactions at prices ranging from $9.11 to $9.65. The reporting person has provided to the issuer, and undertakes to provide to the staff of the Commission or any security holder of the issuer, upon request, full information regarding the number of shares sold at each separate price within the range.
- [F3]Represents a weighted average sales price per share. These shares were sold in multiple transactions at prices ranging from $9.27 to $9.72. The reporting person has provided to the issuer, and undertakes to provide to the staff of the Commission or any security holder of the issuer, upon request, full information regarding the number of shares sold at each separate price within the range.
- [F4]Represents a weighted average sales price per share. These shares were sold in multiple transactions at prices ranging from $9.22 to $9.52. The reporting person has provided to the issuer, and undertakes to provide to the staff of the Commission or any security holder of the issuer, upon request, full information regarding the number of shares sold at each separate price within the range.
- [F5]The reporting person also holds Multiple Voting Shares convertible into Subordinate Voting Shares as reported on Table II of this Form 4.
- [F6]The Multiple Voting Shares are convertible into Subordinate Voting Shares on a one-for-100 basis. The Multiple Voting Shares are convertible at any time and have no expiration date.
- [F7]The Multiple Voting Shares are held by Traunch IV LLC ("Traunch IV"), over which the reporting person may be deemed to exercise voting and investment control. 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.
Signature
/s/ Eric Powers, as Attorney-in-Fact|2026-06-22