GEFEN LYNN K 4

What Happened

• Gefen Lynn K, Chief People & Legal Officer of TerrAscend Corp., had a total of 881,250 previously‑granted employee stock options modified on June 24, 2026. The filing shows dispositions of the original derivative awards and simultaneous grants of replacement derivative awards (275,000; 281,250; 325,000). The original exercise prices were amended to $0.26 per common share (the "Market Price"). These are amendments to option terms, not open‑market purchases or sales, and no shares were exercised or sold for cash.

Key Details

• Transaction date: June 24, 2026; Form 4 filed June 25, 2026 (timely).
• Instruments: Derivative securities (employee stock options) — dispositions of original awards and grants of replacement awards in equal amounts (total 881,250 options).
• New exercise price: $0.26 per share (VWAP on TSX for the five trading days before June 24, 2025, per the amendment).
• Shares owned after transaction: Filing does not report a change in beneficial ownership of common shares; this was a repricing/amendment of option terms, not an exercise or sale of common stock.
• Footnote/remark: Amendment conditioned on continued employment for at least 12 months from June 24, 2025; that service requirement was satisfied on June 24, 2026. All other option terms (including expiration and original vesting) remain unchanged.

Context

• This filing documents a repricing (modification) of options — a derivative transaction — not a cash exercise or sale. No proceeds or market value were reported because the action was the amendment/grant of option instruments. Repricing can make options more valuable to holders but does not by itself change common‑share ownership until options are exercised.