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

Director Christopher W. Haga acquired 1,047 shares of CTO Realty Growth, Inc. common stock in lieu of cash compensation for board and committee retainer fees.

Summary

• Christopher W. Haga, a director of CTO Realty Growth, Inc., acquired 1,047 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 $8,437.50.
• 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. Haga directly owns 47,124 shares of CTO Realty Growth, Inc.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally to slightly positive as it aligns director interests with shareholders.

Positives

• The transaction demonstrates the director's alignment with the company's interests by accepting shares instead of cash.
• The use of a 20-day trailing average closing price provides a fair valuation for the shares issued.

Industry Context

This type of transaction is common for directors of publicly traded companies, where they receive equity as part of their compensation, aligning their interests with shareholders.

Comparison to Industry Standards

• Many publicly traded companies use a combination of cash and equity for director compensation.
• The use of a trailing average share price is a common method to determine the value of shares issued as compensation.
• Companies like Simon Property Group (SPG) and Vornado Realty Trust (VNO) also use similar compensation structures for their board members, often including stock options and restricted stock units.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with the company's performance.
• The transaction has no direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

CTO Realty Growth, Director Share Acquisition, Form 4, Insider Trading, Board Retainer, Committee Fees, Equity Compensation