Form 4: CTO Realty Growth CEO John P. Albright Receives and Disposes of Shares to Cover Tax Obligations

John P. Albright, CEO of CTO Realty Growth, received shares from a performance award and new restricted shares, while also disposing of shares to cover payroll tax liabilities.

Summary

• On February 11, 2025, CTO Realty Growth issued 49,802 shares to CEO John P. Albright as part of a Performance Shares Award Agreement.
• Albright then directed the company to withhold 19,597 of these shares to cover his payroll tax liability at a price of $20.26 per share.
• On February 12, 2025, Albright received 34,147 restricted shares that vest over three years.
• Following these transactions, Albright directly owns 590,400 shares of common stock and indirectly owns 355 shares through a Shanna E. Albright Rollover IRA.
• The direct holdings include 28,263 shares of restricted common stock which vest over time, which were previously reported.

Sentiment

Score: 6

Explanation: The document reflects routine executive compensation activities. While the tax withholding might slightly reduce the CEO's holdings, the overall sentiment is neutral as it's a standard practice.

Positives

• The issuance of performance shares to the CEO suggests the company is meeting performance targets.

Negatives

• The disposal of shares to cover tax obligations could be perceived negatively, although it's a common practice.

Risks

• Future vesting of restricted shares is contingent on the reporting person's continued employment with the Issuer.

Future Outlook

The document outlines future vesting dates for the restricted shares, contingent on continued employment.

Industry Context

Executive compensation in the form of stock and restricted stock is a common practice in publicly traded companies to align management's interests with those of shareholders.

Comparison to Industry Standards

• Stock-based compensation is a standard practice across the REIT industry, with companies like Simon Property Group and Prologis also utilizing similar compensation structures.
• The vesting schedules and performance metrics associated with these awards are typically benchmarked against industry peers to ensure competitiveness and alignment with company goals.

Stakeholder Impact

• Shareholders may view the performance-based compensation positively, as it aligns management's interests with company performance.
• Employees may see the CEO's stock ownership as a sign of confidence in the company's future.

Key Dates

Keywords

CTO Realty Growth, John P. Albright, CEO, Form 4, Share Issuance, Restricted Stock, Performance Shares, Tax Withholding, Beneficial Ownership