Form 4: Alpine Income Property Trust Director Acquires Shares as Part of Compensation Policy

Rachel Elias Wein, a director at Alpine Income Property Trust, Inc., acquired 1,156 shares of common stock on July 1, 2025, as part of her Q2 2025 quarterly retainer fee.

Summary

• Rachel Elias Wein, a Director of Alpine Income Property Trust, Inc. (PINE), acquired 1,156 shares of the company's common stock.
• The transaction occurred on July 1, 2025, at a price of $15.133 per share.
• The shares were issued as the equity component of her Q2 2025 quarterly retainer fee, valued at approximately $17,500.
• This acquisition was made pursuant to the Issuer's Non-Employee Director Compensation Policy, which was adopted on February 3, 2020, and last amended on January 30, 2025.
• The share price used for calculation was the 20-day trailing average closing price as of the last business day of the calendar quarter.
• Following this transaction, Rachel Elias Wein beneficially owns 11,717 shares of common stock directly.

Sentiment

Score: 7

Explanation: The transaction reflects a routine compensation event for a director, indicating continued alignment of interests between management and shareholders through equity ownership. It is a positive, albeit expected, sign of governance alignment.

Positives

• The acquisition of shares by a director increases their equity stake, aligning their financial interests more closely with those of the company's shareholders.
• The transaction is part of a pre-established Non-Employee Director Compensation Policy, indicating a structured approach to director remuneration that includes equity.

Risks

• No specific risks are detailed in this Form 4 filing, which primarily reports an insider transaction.

Future Outlook

This Form 4 filing does not contain forward-looking statements or guidance regarding the company's future performance or strategic outlook.

Management Comments

• The shares were issued to the Reporting Person as the equity component of her Q2 2025 quarterly retainer fee, pursuant to the Issuer's Non-Employee Director Compensation Policy.
• The share price utilized to calculate the number of shares issued was the 20-day trailing average closing price as of the last business day of the calendar quarter, or $15.13300.

Industry Context

The practice of compensating non-employee directors with equity is a common and widely accepted corporate governance practice across various industries, including Real Estate Investment Trusts (REITs). This method aims to align the interests of directors with those of the company's shareholders, encouraging long-term value creation.

Comparison to Industry Standards

• The compensation of non-employee directors with equity, such as common stock, is a standard practice in corporate governance, consistent with global benchmarks for public companies.
• This approach is widely adopted by REITs and other publicly traded entities to ensure directors have a vested interest in the company's performance, similar to practices seen in companies like Prologis (PLD) or Simon Property Group (SPG) which also utilize equity-based compensation for their board members.

Corporate Governance

Related Party Transactions

• The acquisition of shares by Rachel Elias Wein, a director, constitutes a related party transaction as it involves compensation from the Issuer to a member of its board.

Stakeholder Impact

• Shareholders: The transaction increases the director's equity stake, fostering greater alignment of interests with shareholders and potentially enhancing long-term value creation.
• Employees: No direct impact on employees is mentioned in this filing.
• Customers/Suppliers/Creditors: No direct impact on customers, suppliers, or creditors is mentioned in this filing.

Key Dates

Keywords

Alpine Income Property Trust, PINE, SEC Form 4, Insider Transaction, Director Compensation, Stock Acquisition, Equity Compensation, Corporate Governance, Real Estate Investment Trust