Form 4: PINE SVP Buys Shares in Pre-Planned Transaction

Alpine Income Property Trust's SVP of Investments, Steven Greathouse, acquired 3,500 shares of common stock in a pre-scheduled transaction.

Summary

• Steven Robert Greathouse, the Senior Vice President of Investments for Alpine Income Property Trust, Inc. (PINE), acquired 3,500 shares of the company's common stock.
• The transaction occurred on August 6, 2025, with shares purchased at a price of $14.3092 per share.
• This acquisition was executed pursuant to a Rule 10b5-1(c) plan, indicating a pre-scheduled purchase.
• Following this transaction, Mr. Greathouse directly beneficially owns a total of 10,756 shares of Alpine Income Property Trust common stock.

Sentiment

Score: 8

Explanation: The insider purchase by a key investment executive, especially under a 10b5-1 plan, indicates strong confidence in the company's future and valuation, which is a significant positive signal for investors.

Positives

• The purchase of shares by a Senior Vice President of Investments signals strong insider confidence in the company's future prospects and valuation.
• The transaction was conducted under a Rule 10b5-1 plan, suggesting a deliberate, long-term investment decision rather than a reactive market trade.

Future Outlook

The filing does not provide explicit forward-looking statements or guidance beyond the scheduled nature of the transaction.

Management Comments

• The filing includes a disclaimer from Mr. Greathouse regarding beneficial ownership of equity securities held by CTO Realty Growth, Inc. or its affiliates, stating that the filing shall not be deemed an admission of beneficial ownership for Section 16 purposes.

Industry Context

Insider purchases, particularly by investment-focused executives, are generally viewed as a positive signal within the real estate investment trust (REIT) sector, indicating management's belief in the company's valuation and future performance amidst broader market conditions.

Comparison to Industry Standards

• While specific comparable companies or projects are not detailed in this Form 4, an insider purchase of this magnitude (3,500 shares) by a Senior Vice President of Investments is a strong vote of confidence.
• In the REIT sector, insider buying can often precede periods of strong performance, especially if the insider believes the stock is undervalued relative to its net asset value (NAV) or future earnings potential.
• This action aligns with a general pattern where informed insiders capitalize on perceived market inefficiencies.

Related Party Transactions

• Steven Greathouse also serves as the Senior Vice President & Chief Investment Officer of CTO Realty Growth, Inc. ('CTO').
• Mr. Greathouse disclaims beneficial ownership of all equity securities of Alpine Income Property Trust, Inc. that are or may be beneficially owned by CTO or any of its affiliates.

Stakeholder Impact

• Shareholders: The insider purchase may instill greater confidence among existing and potential shareholders, signaling management's belief in the company's value.
• Employees: No direct impact on employees is indicated, but a confident management team can indirectly boost morale.

Key Dates

Recommendation

The purchase of shares by a Senior Vice President of Investments, Steven Greathouse, indicates strong insider confidence in Alpine Income Property Trust's future performance and valuation. This type of insider buying, especially when pre-planned under a 10b5-1 plan, often signals that management believes the stock is undervalued or poised for growth. For a seasoned investor, this is a positive indicator suggesting a 'buy' opportunity, as insiders typically have the most comprehensive understanding of the company's intrinsic value and prospects.

Keywords

Alpine Income Property Trust, PINE, Insider Trading, Form 4, Stock Purchase, Steven Greathouse, Real Estate Investment Trust, REIT, Officer Transaction, 10b5-1 Plan