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

Laura M. Franklin, a director at CTO Realty Growth, acquired 712 shares of common stock in lieu of her 2nd quarter board retainer fee.

Summary

• Laura M. Franklin, a director of CTO Realty Growth, Inc., acquired 712 shares of common stock on July 1, 2024.
• The shares were issued in lieu of her 2nd quarter 2024 board retainer fee of $12,500.
• The share price used for the calculation was $17.5555, based on the 20-day trailing average closing price as of the last day of the quarter.
• Following the transaction, Franklin beneficially owns 49,616 shares, which includes 148.514 shares acquired through the dividend reinvestment plan since April 3, 2024.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The director accepting shares indicates confidence, but it's a routine transaction.

Positives

• The director's acceptance of shares in lieu of cash compensation demonstrates confidence in the company's future prospects.
• Participation in the dividend reinvestment plan further indicates a long-term investment perspective.

Industry Context

Directors receiving equity as part of their compensation is a common practice in publicly traded companies, aligning their interests with those of shareholders.

Comparison to Industry Standards

• Comparing CTO Realty Growth's director compensation policy with similar REITs would provide a benchmark for assessing its competitiveness.
• Companies like Simon Property Group (SPG) and Public Storage (PSA) also utilize equity-based compensation for their board members.
• Analyzing the proportion of equity versus cash compensation across these companies can offer insights into CTO's approach.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders.
• It reinforces the alignment of director interests with shareholder value.

Key Dates