Ghanem Ziad 4

What Happened

• Ziad Ghanem, President and CEO of TerrAscend Corp., had previously‑granted employee stock options modified and re‑recorded on June 24, 2026. The Form 4 shows dispositions of 325,000 and 350,000 derivative securities (old options) and simultaneous acquisitions/grants of 325,000 and 350,000 derivative securities (new/modified options) — a total of 675,000 options.
• Per the filing footnote, shareholders approved on June 24, 2025 an amendment that would reset the original exercise price to $0.26 per common share (the Market Price) if the reporting person remained employed for at least 12 months from that date. That Amendment Service Requirement was satisfied on June 24, 2026, and the exercise price was automatically modified to $0.26. These are derivative (option) transactions, not open‑market buys or sales of the underlying common shares.

Key Details

• Transaction date: June 24, 2026; Form 4 filed: June 25, 2026 (timely filing).
• Securities affected: 325,000 + 350,000 = 675,000 derivative securities (options). New exercise price (Market Price): $0.26 per common share.
• Reported as dispositions to the issuer (old options) and acquisitions/grants (new/modified options); prices for the derivative lines are marked N/A on the Form 4 but the footnote sets the modified exercise price at $0.26.
• Shares owned after the transaction: not specified in the provided excerpt of the filing.
• Footnote F1 / Remarks: explains the shareholder‑approved amendment (June 24, 2025) and the 12‑month service condition that was satisfied on June 24, 2026.

Context

• These entries reflect a modification/regrant of options (derivative securities) rather than a purchase or sale of underlying shares. The filing does not indicate an immediate cashless exercise or sale of the underlying stock — it documents the change in exercise price and the replacement of the prior options.
• For retail investors, modified option grants can improve the economic terms for the holder but do not by themselves represent a purchase of shares or a signal that shares were sold.