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

George R. Brokaw, a director at CTO Realty Growth, acquired 1,139 shares of common stock in lieu of his 2nd quarter 2024 board and committee retainer fees.

Summary

• George R. Brokaw, a director of CTO Realty Growth, acquired 1,139 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 $7,500.
• The share price used to calculate the number of shares was $17.5555, based on the 20-day trailing average closing price as of the last day of the quarter.
• Following the transaction, Brokaw directly owns 83,421 shares of CTO Realty Growth.
• Brokaw also indirectly owns 3,858 shares through the Babette Brokaw Revocable Trust, of which he is a beneficiary and trustee.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. A director taking shares in lieu of cash shows confidence and helps conserve company cash.

Positives

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

Industry Context

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

Comparison to Industry Standards

• Many REITs (Real Estate Investment Trusts) use similar compensation policies for their board members, often including a mix of cash and equity.
• Comparing CTO Realty Growth's director compensation policy to peers like Agree Realty Corporation (ADC) or Realty Income Corporation (O) could provide further context.
• These companies also often grant stock options or restricted stock units to directors as part of their compensation packages.

Stakeholder Impact

• Shareholders may view the director's stock acquisition positively, as it aligns his interests with theirs.
• The company benefits from preserving cash by issuing stock instead of paying cash retainer fees.

Key Dates