Form 4: Director Rachel Elias Wein Boosts PINE Stake

Alpine Income Property Trust Director Rachel Elias Wein acquired 1,034 shares of common stock as part of her Q4 2025 quarterly retainer fee.

Summary

• Rachel Elias Wein, a Director of Alpine Income Property Trust, Inc. (PINE), acquired 1,034 shares of common stock.
• The transaction occurred on January 2, 2026.
• The shares were acquired at a price of $16.9175 per share.
• This acquisition was part of her Q4 2025 quarterly retainer fee, valued at approximately $17,500.
• 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 13,943 shares of common stock directly.
• The transaction was made pursuant to a Rule 10b5-1(c) plan.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive as a director's acquisition of shares, even as compensation, generally indicates continued alignment with the company's performance and future prospects. However, it's a routine transaction, not a discretionary purchase, limiting the strength of the positive signal.

Positives

• A director increasing their stake, even through compensation, can signal alignment with shareholder interests.
• The transaction is part of a pre-established compensation policy, indicating structured and transparent governance.

Future Outlook

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

Industry Context

Director compensation policies, often including equity components, are a standard practice across publicly traded companies, particularly in the REIT sector, to align the interests of non-employee directors with those of shareholders. The use of a 20-day trailing average closing price for share calculation is a common method to mitigate short-term market volatility in compensation awards.

Comparison to Industry Standards

• The practice of compensating non-employee directors with equity is a common industry standard, aligning director interests with long-term shareholder value.
• The use of a 20-day trailing average closing price for determining the number of shares issued is a standard methodology to smooth out daily price fluctuations, similar to practices seen in other REITs and publicly traded companies for equity compensation.

Corporate Governance

Related Party Transactions

• The acquisition of shares by a director as part of their compensation is a related party transaction, as it involves a transaction between the company and a member of its board of directors.

Stakeholder Impact

• Shareholders: The acquisition by a director, even as compensation, can be viewed positively as it increases the director's personal stake in the company, potentially aligning their interests more closely with long-term shareholder value.

Key Dates

Recommendation

This Form 4 filing details a routine equity compensation award to a director, not a discretionary open-market purchase. While it shows continued alignment of interests, it does not provide new material information that would significantly alter the investment thesis or warrant a change in recommendation. Investors should 'hold' and consider this a standard operational disclosure.

Keywords

Alpine Income Property Trust, PINE, Insider Transaction, Director Compensation, Stock Acquisition, Form 4, Equity Compensation