Form 4: CTO Realty Growth Director Laura Franklin Acquires Shares in Lieu of Retainer Fee
SEC Form 4
Director Laura Franklin acquired 659 shares of CTO Realty Growth in lieu of her 1st quarter 2025 board retainer fee.
Summary
- On April 1, 2025, Laura M. Franklin, a director of CTO Realty Growth, Inc., acquired 659 shares of common stock.
- The shares were issued in lieu of her 1st quarter 2025 board retainer fee of $12,500.
- The price per share was calculated using the 20-day trailing average closing price as of the last business day of the calendar quarter, which was $18.949.
- Following the transaction, Franklin beneficially owns 55,155 shares, which includes 143.519 shares acquired through the Issuer's dividend reinvestment plan since February 14, 2025.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive as it reflects a director increasing their stake in the company, aligning interests with shareholders. 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 for retainer fees can conserve company cash.
Industry Context
Directors receiving shares as compensation is a fairly common practice, aligning their interests with shareholders.
Comparison to Industry Standards
- Comparing CTO Realty Growth's director compensation policy to similar REITs would provide a benchmark.
- Companies like Simon Property Group (SPG) and Public Storage (PSA) also have director compensation policies that include equity grants.
- Analyzing the percentage of compensation paid in equity versus cash across these companies would offer valuable insights.
Stakeholder Impact
- The transaction has a minor positive impact on shareholders as it aligns the director's interests with theirs.
- The company conserves cash by issuing shares instead of paying the retainer fee in cash.
Key Dates
| Date | Description |
|---|---|
| February 27, 2019 | Date the Issuer's Non-Employee Director Compensation Policy was adopted by the Issuer's board of directors. |
| February 14, 2024 | Date the Issuer's Non-Employee Director Compensation Policy was last amended. |
| February 14, 2025 | Date of the Reporting Person's prior Form 4 filing. |
| April 01, 2025 | Date of the transaction: Laura Franklin acquired shares in lieu of retainer fee. |
Keywords
CTO Realty Growth, Director, Laura Franklin, Share Acquisition, Form 4, Retainer Fee, Dividend Reinvestment Plan
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