Form 4: CTO Realty Director Laura Franklin Increases Stake Through Stock Compensation

CTO Realty Growth, Inc. Director Laura M. Franklin acquired 689 shares of common stock on July 1, 2025, as part of her Q2 2025 board retainer fee, increasing her total beneficial ownership to 56,142 shares.

Summary

• Laura M. Franklin, a Director of CTO Realty Growth, Inc., acquired 689 shares of common stock on July 1, 2025.
• These shares were issued in lieu of her second-quarter 2025 board retainer fee, valued at $12,500.
• The share price used for the transaction was $18.1265, calculated based on the 20-day trailing average closing price as of the last business day of the calendar quarter, as per the company's Non-Employee Director Compensation Policy.
• Following this transaction, Ms. Franklin beneficially owns 56,142 shares of CTO Realty Growth, Inc. common stock.
• This total includes 297.493 shares acquired through the Issuer's dividend reinvestment plan since April 1, 2025.

Sentiment

Score: 6

Explanation: Neutral to slightly positive. A routine insider acquisition through compensation is generally seen as a positive sign of alignment, but it's not a discretionary purchase indicating strong conviction.

Positives

• Increased alignment of director's interests with shareholders through stock-based compensation.
• Demonstrates the company's adherence to its established Non-Employee Director Compensation Policy.

Future Outlook

NA

Industry Context

It is common practice for publicly traded companies, particularly REITs like CTO Realty Growth, to compensate non-employee directors with a portion of their fees in company stock. This practice aligns the interests of the directors with those of the shareholders, encouraging long-term value creation.

Comparison to Industry Standards

• Stock-based compensation for non-employee directors is a widely adopted practice across various industries, including the real estate sector, aligning director incentives with shareholder returns.
• The use of a 20-day trailing average closing price for calculating share issuance is a standard and transparent method, similar to practices seen in companies like Simon Property Group (SPG) or Prologis (PLD) for their equity compensation plans, ensuring fairness and reducing volatility impact.
• The specific retainer fee of $12,500 for a quarter is within the typical range for non-executive director compensation at companies of similar market capitalization and complexity to CTO Realty Growth, Inc.

Corporate Governance

Related Party Transactions

• The issuance of common stock to Director Laura M. Franklin in lieu of her board retainer fee constitutes a related party transaction, executed under the terms of the company's Non-Employee Director Compensation Policy.

Stakeholder Impact

• Shareholders: Increased alignment of director's interests with shareholder value due to stock-based compensation.

Key Dates

Keywords

CTO Realty Growth, Laura M. Franklin, SEC Form 4, Insider Trading, Director Compensation, Stock Acquisition, Common Stock, Real Estate Investment Trust, REIT, Corporate Governance