Trulieve Cannabis Corp. announced Friday that Chairman and Chief Executive Officer Kim Rivers intends to terminate her automatic securities disposition plan (ASDP) during the company’s next open trading window on August 11, 2026.
The move means the second scheduled tranche of share sales under the plan will not proceed if the termination takes effect as planned.
The ASDP was established on March 16, 2026, during an open trading window in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. These plans allow corporate insiders to schedule future stock sales in advance, helping reduce concerns that trades are based on material non-public information.
The plan covered the orderly sale of up to 2.5 million Trulieve subordinate voting shares (SVS) in two separate tranches.
According to the company, the first began on June 17, 2026, and has now been completed. As of June 26, Rivers had sold 1,699,007 SVS under that portion of the plan.
The second was scheduled to begin on September 15, 2026. However, Rivers has informed the broker-dealer administering the plan that she intends to terminate the arrangement on August 11, before those sales can begin.
Trulieve did not provide a reason for the planned termination.
Second Tranche of Sales Will Not Proceed
The announcement does not affect Trulieve’s business operations, financial outlook, or growth strategy, as it relates solely to an insider trading plan established earlier this year.
Executives at publicly traded companies widely use Rule 10b5-1 trading plans to automate future stock transactions under predetermined conditions. Once adopted, the plans generally operate without the executive making day-to-day decisions about individual trades.
The planned termination means only the first portion of Rivers’ scheduled sales has been completed. The remaining shares originally allocated to the second tranche are no longer expected to be sold through the current plan if the termination takes effect.
The decision also removes a previously scheduled round of insider selling, which was expected to begin in mid-September.
As one of the largest vertically integrated multi-state cannabis operators in the United States, Trulieve said the termination will occur during the company’s next open trading window, consistent with its insider trading policies.
Company Performance Remains Strong
The announcement comes after a strong run for Trulieve shares, which have gained approximately 148% over the past year. The company also reported improved financial performance in the first quarter of 2026, generating $287 million in revenue, $2 million in net income, $100 million in adjusted EBITDA, and $42 million in free cash flow. Trulieve ended the quarter with $353 million in cash and expanded its customer rewards program to more than 1 million members.
The company has also benefited from recent regulatory developments. Earlier this month, Trulieve became the first U.S. cannabis company approved to list on the New York Stock Exchange following the rescheduling of medical marijuana to Schedule III. While the planned termination of Rivers’ automatic stock sale plan does not change Trulieve’s underlying business, it comes at a time when the company is reporting stronger financial results and pursuing additional growth opportunities.
Rita Ferreira
Rita is a seasoned writer with over five years of experience, having worked with globally renowned platforms, including Forbes and Miister CBD. Her deep knowledge of hemp-related businesses and passion for delivering accurate and concise information distinguish her in the industry. Rita's contributions empower individuals and companies to navigate the complexities of the cannabis world, and her work remains a valuable resource for those seeking a deeper understanding of its potential.
