Form 4: CTO Realty Growth Director Acquires Shares in Lieu of Fees

CTO Realty Growth director, Robert Blakeslee Gable, acquired 954 shares of common stock in lieu of cash compensation for board and committee retainer fees.

Summary

• Robert Blakeslee Gable, a director at CTO Realty Growth, acquired 954 shares of common stock on January 2, 2025.
• These shares were issued in lieu of his 4th quarter 2024 board retainer fee of $12,500 and committee retainer fees of $6,562.50.
• The share price used to calculate the number of shares was $19.98050, which is the 20-day trailing average closing price as of the last day of the quarter.
• Following this transaction, Mr. Gable's total holdings are 39,965 shares.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is a normal part of corporate governance. There are no indications of any negative or positive surprises.

Positives

• The transaction reflects the company's policy of compensating directors with shares, aligning their interests with shareholders.
• The use of a 20-day trailing average price provides a fair valuation for the shares issued.

Industry Context

This type of transaction is common in publicly traded companies, where directors are often compensated with a mix of cash and equity to align their interests with those of shareholders.

Comparison to Industry Standards

• Many publicly traded companies use a combination of cash and stock options or awards to compensate their board members.
• The practice of using a trailing average price to determine the value of shares issued as compensation is a common method to mitigate price volatility.
• Companies like Simon Property Group (SPG) and Vornado Realty Trust (VNO) also use similar compensation structures for their directors, often including stock awards and options.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns director interests with company performance.
• The transaction has a minor impact on the company's cash position as it reduces the cash outlay for director compensation.

Key Dates

Keywords

CTO Realty Growth, Director Share Acquisition, Form 4, Robert Blakeslee Gable, Director Compensation, Stock Award