Form 4: CTO Realty Growth Director Christopher Haga Corrects Ownership Reporting After Gift to Trust

Christopher Haga, a director at CTO Realty Growth, files an amended Form 4 to correct the reporting of a gift of shares to a trust benefiting his spouse.

Summary

• Christopher Haga, a director of CTO Realty Growth, Inc., filed an amended Form 4 with the SEC.
• The filing corrects previous reports regarding a gift of 28,520 shares of CTO common stock to The Elizabeth Bennett Haga Irrevocable Trust on December 27, 2024.
• The shares were initially incorrectly reported as directly owned by Haga in filings on January 3, 2025, February 14, 2025, and April 1, 2025.
• The amended filing clarifies that the shares are indirectly owned through the trust, for which Haga's spouse is a beneficiary and trustee.
• Haga disclaims beneficial ownership of the shares held by the trust.

Sentiment

Score: 6

Explanation: The document is a routine correction of a previous filing error. While the error itself isn't positive, the correction is a necessary part of maintaining transparency.

Negatives

• The reporting person failed to timely file a Form 4 reporting the transaction described herein.
• The 28,520 shares that were transferred on December 27, 2024, were incorrectly reported as directly owned instead of indirectly owned in the Forms 4 filed by the reporting person on January 3, 2025, February 14, 2025, and April 1, 2025.

Management Comments

• The Reporting Person disclaims beneficial ownership of the shares of the Issuer's common stock held by said trust, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of the shares of the Issuer's common stock held by said trust for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This specific filing is related to correcting a previous error in reporting.

Related Party Transactions

• The transaction involved a gift to a trust where the reporting person's spouse is a beneficiary and trustee.

Stakeholder Impact

• The correction ensures accurate information is available to shareholders regarding insider ownership.

Key Dates

Keywords

Form 4, Beneficial Ownership, CTO Realty Growth, Christopher Haga, Stock Gift, Trust, SEC Filing