Collard Craig A 4

What Happened
Craig Collard, a director of TerrAscend Corp. (TSNDF), had 150,000 previously‑granted stock options reclassified on June 24, 2026 after satisfying a 12‑month service requirement. The filing shows a disposition and an acquisition of 150,000 derivative securities reflecting the modification — the original exercise price was automatically reset to $0.26 per common share. This was a repricing/adjustment of options, not a purchase or sale of underlying shares and no cash changed hands in this reporting event.

Key Details

• Transaction date: June 24, 2026 (Form 4 filed June 25, 2026).
• Reported entries: disposition (D) of 150,000 derivative securities and acquisition (A) of 150,000 derivative securities (reflecting the modified options).
• New exercise price: $0.26 per share (Market Price defined as the VWAP on the TSX for the five trading days before June 24, 2025).
• Shares/options affected: 150,000 options.
• Shares owned after transaction: not specified in the Form 4.
• Footnote/remarks: shareholder approval at the June 24, 2025 AGM authorized the modification conditional on 12 months’ continued service; that service requirement was met on June 24, 2026 and the modification became effective. All other option terms (vesting schedule, expiration) remain unchanged.
• Filing timeliness: reported the next day (timely under standard reporting rules).

Context
This filing documents a derivative modification (repricing) — not an exercise or sale. The options remain outstanding and subject to their original vesting and expiration terms; no shares were issued or sold as part of this report. The dual D/A entries reflect the cancellation or recharacterization of the original option terms and the contemporaneous acquisition of the modified options.