Rivers Kim A. 4
4 · Trulieve Cannabis Corp. · Filed Jun 25, 2026
Research Summary
AI-generated summary of this filing
Trulieve (TRLV) 10% Owner Rivers Kim Sells 1.08M Shares
What Happened
- Rivers Kim, a reported 10% owner of Trulieve Cannabis Corp. (TRLV), sold a total of 1,080,000 subordinate voting shares in open-market/private transactions on June 23–25, 2026. The sales: 380,000 shares on 6/23 at a weighted avg $8.47 ($3,218,220), 400,000 shares on 6/24 at a weighted avg $8.17 ($3,267,600), and 300,000 shares on 6/25 at a weighted avg $8.17 ($2,450,700). Total proceeds ≈ $8,936,520. These were sales (not purchases), executed pursuant to a Rule 10b5-1 plan (often pre-arranged, routine disposition).
Key Details
- Transaction dates and reported prices:
- 2026-06-23: 380,000 shares @ $8.47 (weighted avg); prices ranged $8.30–$8.75.
- 2026-06-24: 400,000 shares @ $8.17 (weighted avg); prices ranged $8.00–$8.45.
- 2026-06-25: 300,000 shares @ $8.17 (weighted avg); prices ranged $8.15–$8.53.
- Total shares sold: 1,080,000; total proceeds ≈ $8.94M.
- Shares owned after the transactions: not specified in the excerpt provided here (see Table II of the Form 4 for reported holdings).
- Notable footnotes:
- F1: Sales were effected under a Rule 10b5-1 plan adopted March 16, 2026; a Form 144 covering the first tranche (1,699,007 subordinate voting shares) was filed June 17, 2026. Remaining tranche eligible for sale after Sept 15, 2026.
- F2–F4: Weighted-average prices shown; shares were sold at multiple prices within the listed ranges. Reporting person will provide breakdown on request.
- F5–F7: Reporting person also associated with Multiple Voting Shares held by Traunch IV LLC (convertible 1-for-100); Rivers Kim disclaims beneficial ownership of those shares except for pecuniary interest.
- Timeliness: Filing dated June 25, 2026 for transactions through June 25, 2026 — appears timely (Form 4 must generally be filed within two business days).
Context
- These were sales by a 10% owner under a pre-arranged Rule 10b5-1 plan; such plans are commonly used to schedule routine dispositions and do not necessarily indicate a change in the insider’s view of the company. The filing notes a prior Form 144 covering a first tranche and that further shares are subject to tranche timing and conversion mechanics via Traunch IV.
Insider Transaction Report
Form 4
Rivers Kim A.
DirectorChairman and CEO10% Owner
Transactions
- Sale
Subordinate Voting Shares
[F1][F2]2026-06-23$8.47/sh−380,000$3,218,220→ 2,313,724 total - Sale
Subordinate Voting Shares
[F1][F3]2026-06-24$8.17/sh−400,000$3,267,600→ 1,913,724 total - Sale
Subordinate Voting Shares
[F1][F4][F5]2026-06-25$8.17/sh−300,000$2,450,700→ 1,613,724 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 approximately 2.5 million shares adopted by the reporting person on March 16, 2026 (the "Plan"). 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 $8.30 to $8.75. 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 $8.00 to $8.45. 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 $8.15 to $8.53. 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|2026-06-25