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

Director George R. Brokaw acquired 1,000 shares of CTO Realty Growth, Inc. common stock in lieu of cash retainer fees.

Summary

• George R. Brokaw, a director at CTO Realty Growth, Inc., acquired 1,000 shares of common stock on January 2, 2025.
• The shares were issued in lieu of his 4th quarter 2024 board retainer fee of $12,500 and committee retainer fees of $7,500.
• The share price used to calculate the number of shares was $19.98050, based on the 20-day trailing average closing price as of the last day of the quarter.
• Following the transaction, Mr. Brokaw directly owns 85,461 shares and indirectly owns 3,858 shares through the Babette Brokaw Revocable Trust.

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 acquisition of shares by a director demonstrates alignment of interests with shareholders.
• The use of shares in lieu of cash preserves company cash flow.

Industry Context

This is a standard practice for many companies to compensate directors with shares, aligning their interests with shareholders and conserving cash.

Comparison to Industry Standards

• Many REITs and other publicly traded companies use stock-based compensation for directors.
• The practice of using a trailing average price to determine the number of shares issued is also common.
• Companies like Simon Property Group (SPG) and American Tower (AMT) also use similar compensation methods for their board members.

Stakeholder Impact

• Shareholders may view this positively as it aligns director interests with company performance.
• The company conserves cash by issuing shares instead of paying cash fees.

Key Dates

Keywords

insider trading, director, share acquisition, common stock, retainer fees, CTO Realty Growth, beneficial ownership