Kim A. Rivers, the Chairman and Chief Executive Officer of Trulieve Cannabis Corp. (NASDAQ: TRLV), has executed a significant divestment of company equity, liquidating a total of 1,080,000 subordinate voting shares. The transaction series, conducted between June 23 and June 25, 2026, generated gross proceeds of approximately $8,936,520. The sales were executed at weighted average prices ranging from $8.169 to $8.469 per share, aligning closely with the company's current trading price of $8.52.
The execution of these sales followed a structured timeline. On June 23, Rivers sold 380,000 shares at a weighted average price of $8.469, with individual transaction prices varying between $8.30 and $8.75. The subsequent day, June 24, saw the disposal of 400,000 shares at a weighted average price of $8.169, with prices ranging from $8.00 to $8.45. The final tranche on June 25 involved 300,000 shares, also at a weighted average price of $8.169, with individual prices spanning from $8.15 to $8.53.
These transactions are governed by a Rule 10b5-1 trading plan adopted by Rivers on March 16, 2026. This pre-arranged framework was established to facilitate the sale of approximately 2.5 million shares in total. A Form 144 filing submitted on June 17, 2026, initially covered a larger tranche of 1,699,007 subordinate voting shares. Under the current plan, the remaining shares are eligible for liquidation only after September 15, 2026.
Post-transaction, Rivers directly holds 1,613,724 subordinate voting shares. Her equity exposure extends further through Multiple Voting Shares, which are convertible into subordinate voting shares on a one-for-100 basis and carry no expiration date. Directly, these convertible shares equate to 15,166,700 subordinate voting shares. Additionally, Rivers holds Multiple Voting Shares indirectly through Traunch IV LLC, convertible into 986,700 subordinate voting shares. She disclaims beneficial ownership of these indirectly held shares except to the extent of her pecuniary interest.
The sale activity occurs as TRLV stock has declined 15.64% over the past week, according to InvestingPro data, despite shares maintaining a substantial 134% gain over the past year. Market analysis indicates that Trulieve currently trades below its InvestingPro Fair Value, positioning it among undervalued equities. Analysts project substantial upside, with price targets ranging from $17.25 to $21.
For investors evaluating TRLV, comprehensive valuation and growth insights are available through the Pro Research Report, accessible for this and over 1,400 other US equities via InvestingPro. The platform also offers chart analysis tools designed to assist traders in identifying entry windows, stop-loss levels, and profit targets through Vision AI integration.