Form 4: Alpine Income Property Trust Director Acquires Shares in Lieu of Retainer Fee

Director M. Carson Good acquired 975 shares of Alpine Income Property Trust, Inc. (PINE) common stock in lieu of his 2nd quarter 2024 director retainer fee.

Summary

• On July 1, 2024, M. Carson Good, a director of Alpine Income Property Trust, Inc. (PINE), acquired 975 shares of common stock.
• The shares were issued in lieu of his 2nd quarter 2024 director retainer fee of $15,000.
• The share price used to calculate the number of shares was $15.369, based on the 20-day trailing average closing price as of the last day of the quarter.
• Following the transaction, Mr. Good directly owns 16,680 shares of Alpine Income Property Trust, Inc.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. A director accepting shares in lieu of cash indicates confidence in the company's future prospects. The transaction itself is routine and expected.

Positives

• The director's acceptance of shares in lieu of cash compensation demonstrates confidence in the company's value.

Industry Context

Directors receiving equity as part of their compensation is a common practice in REITs and other publicly traded companies, aligning their interests with those of shareholders.

Comparison to Industry Standards

• Equity compensation for board members is a common practice among publicly traded REITs.
• Comparing Alpine Income Property Trust's director compensation policy with peers like Agree Realty Corporation (ADC) or National Retail Properties (NNN) would provide further context.
• The 20-day trailing average closing price is a standard method for determining the value of shares issued as compensation.

Related Party Transactions

• The issuance of shares to M. Carson Good in lieu of his director retainer fee is a related party transaction.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with theirs.

Key Dates