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Trulieve Cannabis Corp.·4

Jun 22, 6:04 PM ET

Rivers Kim A. 4

Research Summary

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Updated

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.