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

Christopher J. Drew, a director at CTO Realty Growth, acquired 845 shares of common stock on October 1, 2024, in lieu of his 3rd quarter board and committee retainer fees.

Summary

• On October 1, 2024, Christopher J. Drew, a director of CTO Realty Growth, Inc., acquired 845 shares of common stock.
• The shares were issued in lieu of his 3rd quarter 2024 board retainer fee of $12,500 and committee retainer fees of $3,750.
• The share price used to calculate the number of shares issued was $19.2235, based on the 20-day trailing average closing price as of the last day of the quarter.
• Following the transaction, Drew directly owns 15,448 shares of CTO Realty Growth, Inc.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. A director accepting shares in lieu of cash indicates confidence in the company. The transaction itself is routine and expected.

Positives

• The director's acceptance of shares in lieu of cash compensation demonstrates confidence in the company's future prospects.

Industry Context

Directors receiving equity in lieu of cash compensation is a common practice to align their interests with those of shareholders and conserve company cash.

Comparison to Industry Standards

• Many REITs and real estate companies use equity compensation for board members.
• Comparing CTO Realty Growth's director compensation policy to peers like Simon Property Group (SPG) or Prologis (PLD) would provide further context.
• The 20-day trailing average closing price is a standard method for determining the value of shares issued as compensation.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with theirs.

Key Dates