Form 4: Alpine Income Property Trust Director Receives Stock in Lieu of Cash Compensation

Director Brenna Andrea Wadleigh received 516 shares of Alpine Income Property Trust stock in lieu of her 4th quarter 2024 director retainer fee.

Summary

• Brenna Andrea Wadleigh, a director at Alpine Income Property Trust, received 516 shares of common stock.
• These shares were issued in lieu of her 4th quarter 2024 director retainer fee of $8,804.35.
• The share price used to calculate the number of shares was $17.032, which is the 20-day trailing average closing price as of the last day of the quarter.
• The transaction occurred on January 2, 2025.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally to slightly positive as it aligns interests. There are no indications of any negative issues.

Positives

• The director's compensation structure aligns her interests with those of shareholders by providing equity.
• The use of a 20-day trailing average price provides a fair valuation for the stock issued.

Industry Context

This type of equity-based compensation for directors is common in the real estate investment trust (REIT) industry, aligning director interests with shareholder value.

Comparison to Industry Standards

• Many REITs use a combination of cash and equity for director compensation.
• The use of a trailing average price is a standard practice to avoid price manipulation.
• Companies like Realty Income (O) and Simon Property Group (SPG) also use similar compensation structures for their directors.

Stakeholder Impact

• Shareholders are not significantly impacted by this transaction as it is a standard part of director compensation.
• The director's interests are aligned with shareholders through equity ownership.

Key Dates

Keywords

director compensation, stock issuance, equity compensation, Alpine Income Property Trust, PINE, director retainer fee