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Trulieve Cannabis Corp.·4

Jun 25, 7:42 PM ET

Rivers Kim A. 4

Research Summary

AI-generated summary

Updated

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.