4/A: CTO Realty Growth Amends Filing on Alpine Income Property Trust Stock Transactions
SEC Form 4/A Amendment
CTO Realty Growth files an amended Form 4 to correct the date of the earliest transaction regarding Alpine Income Property Trust (PINE) stock purchases.
Summary
- CTO Realty Growth, Inc. has filed an amended Form 4 with the SEC regarding transactions in Alpine Income Property Trust, Inc. (PINE) stock.
- The amendment corrects the 'Date of Earliest Transaction' to May 28, 2024, from the previously reported March 16, 2023.
- On May 28, 2024, CTO acquired 191 shares of PINE at $15 per share, and on May 29, 2024, acquired 103 shares at $14.97 per share.
- Following these transactions, CTO directly owns 935,703 shares and indirectly owns 173,405 shares through its wholly-owned subsidiary, CTO TRS Crisp39 LLC.
- The purchases were made pursuant to a Rule 10b5-1 trading plan adopted on February 28, 2023.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the filing is a routine correction of a previous form. It indicates continued investment but doesn't provide significant positive or negative signals.
Positives
- The filing indicates continued investment by CTO Realty Growth in Alpine Income Property Trust.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to the market regarding their investment activities.
Comparison to Industry Standards
- Form 4 filings are a standard regulatory requirement for company insiders, similar to filings made by executives and major shareholders of companies like Simon Property Group (SPG), Realty Income Corporation (O), and Public Storage (PSA) when they trade their company's stock.
- The Rule 10b5-1 trading plan is a common tool used by insiders to schedule stock transactions in advance, which is also used by executives at comparable REITs to avoid accusations of insider trading.
Stakeholder Impact
- The filing provides transparency to shareholders regarding CTO Realty Growth's investment in Alpine Income Property Trust.
Key Dates
| Date | Description |
|---|---|
| February 28, 2023 | Date the Rule 10b5-1 trading plan was adopted by CTO Realty Growth. |
| May 28, 2024 | Date of the earliest transaction (purchase of 191 shares of PINE). |
| May 29, 2024 | Date of purchase of 103 shares of PINE. |
| May 30, 2024 | Date of original Form 4 filing (amended by this filing). |
| July 09, 2024 | Date of the amended Form 4 filing. |
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