Curaleaf Executive Vice Chairman Adopts Automated Share Sales Plan

STAMFORD – Joseph F. Lusardi, executive vice chairman of Curaleaf Holdings Inc., has put in a place an automatic securities disposition plan (ASDP) to sell company shares, a move designed to handle tax obligations tied to upcoming stock options.

The company disclosed the arrangement on Tuesday, stating that Lusardi established the plan on September 30. It covers the exercise of options due to expire in March 2026. Starting January 2, sales of subordinate voting shares will unfold over three months, executed by an independent broker at market prices. The setup follows pre-set trading rules, including volume and price caps, to ensure orderly transactions.

Under the plan, Lusardi will have no say in the timing or volume of sales once they begin. Any changes to the plan require approval from Curaleaf’s compensation committee, and the broker operates without input from the executive. This structure aligns with U.S. and Canadian securities rules, including guidelines from the Canadian Securities Administrators on ASDPs.

Such plans serve as a safeguard against accusations of insider trading, allowing executives to liquidate holdings on a fixed schedule. For Lusardi, who joined Curaleaf’s leadership in 2019, the sales will offset taxes on the option exercises. Details of each transaction will appear in public filings on platforms like SEDI and SEDAR.

Curaleaf, a top MSO in the U.S. Cannabis market, operates 157 retail locations and 21 cultivation sites.
The company has navigated federal restrictions and state-level shifts while expanding its footprint.

From an investor’s standpoint, the plan underscores routine financial planning at the executive level, free of immediate market signals. It reinforces Curaleaf’s commitment to transparent governance in an industry still grappling with regulatory gray areas. As the Cannabis market matures, these mechanisms will remain essential tools for aligning personal liquidity with public accountability.