Form 4: REFI Executive Chairman Buys $102K in Stock

Chicago Atlantic Real Estate Finance Executive Chairman John Mazarakis purchased 8,000 shares of common stock at $12.75 per share.

Summary

• John Mazarakis, Executive Chairman and Director of Chicago Atlantic Real Estate Finance, Inc. (REFI), acquired 8,000 shares of common stock.
• The transaction occurred on October 16, 2025, at a price of $12.75 per share.
• The total value of the acquired shares is $102,000.
• Following this transaction, John Mazarakis directly beneficially owns 416,607 shares of common stock.
• Additionally, he indirectly beneficially owns 5,000 shares through his spouse and 31,524 shares through ownership of interests in Joppa Seasoning, LLC.
• The reporting person disclaims beneficial ownership of the indirectly held shares, except to the extent of his pecuniary interest therein.

Sentiment

Score: 8

Explanation: The direct purchase of a significant number of shares by the Executive Chairman indicates strong insider confidence, which is generally a positive signal for investors.

Positives

• The Executive Chairman's direct purchase of company stock signals strong confidence in the company's future prospects and valuation.
• Insider buying can often be interpreted by the market as a positive indicator, suggesting management believes the stock is undervalued or expects future growth.

Future Outlook

The filing does not contain any forward-looking statements or guidance.

Industry Context

Insider buying, particularly by a high-ranking executive like the Executive Chairman, is generally viewed as a positive signal across all industries, indicating management's belief in the company's intrinsic value and future performance.

Stakeholder Impact

• Shareholders may view this insider purchase as a positive sign of management's belief in the company's value, potentially increasing investor confidence.
• The transaction could positively influence market perception of the company's stock.

Key Dates

Recommendation

The Executive Chairman's direct purchase of 8,000 shares at $12.75, totaling $102,000, is a strong signal of insider confidence. Such a move by a key executive often suggests they believe the company's stock is undervalued or that significant positive developments are anticipated. This action aligns management's interests more closely with shareholders and typically serves as a bullish indicator for seasoned investors, warranting a 'buy' recommendation based on this positive insider activity.

Keywords

Chicago Atlantic Real Estate Finance, REFI, John Mazarakis, Insider Buying, Stock Purchase, Form 4, Executive Chairman, Real Estate Finance