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

Christopher W. Haga, a director at CTO Realty Growth, acquired 1,192 shares of common stock in lieu of his 2nd quarter board and committee retainer fees.

Summary

• Christopher W. Haga, a director at CTO Realty Growth, acquired 1,192 shares of common stock on July 1, 2024.
• The shares were issued in lieu of his 2nd 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 issued was $17.5555, based on the 20-day trailing average closing price as of the last day of the quarter.
• Following the transaction, Haga directly owns 44,988 shares.
• Haga also indirectly owns 3,000 shares as UGTMA custodian for his daughter and 3,000 shares as UGTMA custodian for his son.
• Previously reported 4,629 shares indirectly owned as UGTMA custodian for his daughter are no longer beneficially owned by Haga as the account has been transferred to the now adult beneficiary.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. A director taking shares in lieu of cash compensation is generally a good sign, indicating confidence in the company's future performance. The transaction itself is routine and expected.

Positives

• Director's acquisition of shares demonstrates confidence in the company.
• The use of shares in lieu of cash preserves company cash flow.

Industry Context

Directors often receive compensation in the form of stock to align their interests with those of shareholders. This is a common practice in publicly traded companies.

Stakeholder Impact

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

Key Dates