Trulieve President Jason Pernell Resigns, Company Announces Separation Agreement
- Trulieve Cannabis Corp. President Jason Pernell resigned effective June 11 through a mutual agreement with the company.
- The separation agreement includes a mutual release of claims and a one-year restriction on Pernell selling or transferring his Trulieve shares.
- Pernell will receive his fiscal year 2026 second-quarter performance bonus, a prorated target bonus, a $15,000 severance, and up to 18 months of paid COBRA healthcare coverage if elected.
- The resignation was announced shortly after Trulieve's uplisting to the New York Stock Exchange under the ticker TRLV.
Trulieve Cannabis Corp. President Jason Pernell has resigned from the company, according to a new filing with the U.S. Securities and Exchange Commission.
In an 8-K filed today, Trulieve said Pernell and the company mutually agreed on June 11 to terminate his employment and his position as president, effective immediately. The company said the departure was made in connection with a Separation Agreement and General Release signed the same day.
Under the agreement, both Trulieve and Pernell agreed to a mutual release of certain claims. Pernell also agreed not to sell, grant, secure, pledge, transfer, dispose of or monetize any Trulieve subordinate voting shares or other equity securities held in his name for one year.
The filing says Pernell will receive his second-quarter performance bonus for fiscal year 2026, in accordance with the company’s customary executive bonus payment practices, provided he complies with the terms of the separation agreement. He is also entitled to a prorated portion of the balance of his target performance bonus for fiscal year 2026, to be paid after 2026 earnings.
The agreement also includes a $15,000 severance payment. If Pernell elects COBRA continuation coverage, Trulieve will pay the full premium for medical, dental and vision coverage for Pernell and any covered dependents for up to 18 months, unless he becomes eligible for substantially similar coverage from another employer before then.
In addition, the agreement provides for the vesting of any issued and unvested annual equity awards as of the termination date.
The filing was signed by Eric Powers, Trulieve’s chief legal officer.
The announcement comes shortly after Trulieve began trading on the New York Stock Exchange under the ticker symbol TRLV, following approval of its uplisting from the OTCQX.