Form 4: CTO Realty Growth Executive Acquires Shares Through Performance Award and Restricted Stock Grant

Daniel Earl Smith, SVP, GEN COUNSEL & CORP SECRET of CTO Realty Growth, Inc., reports acquisition of shares through performance awards and restricted stock, along with a transaction to cover tax liabilities.

Summary

• On February 11, 2025, Daniel Earl Smith, SVP, GEN COUNSEL & CORP SECRET of CTO Realty Growth, Inc., acquired 12,078 shares of common stock pursuant to a Performance Shares Award Agreement.
• The shares were issued as part of an agreement dated February 17, 2022.
• On the same day, 2,940 shares were withheld to cover payroll tax liabilities at a price of $20.26 per share.
• On February 12, 2025, Smith acquired 10,366 restricted shares of common stock that vest over three years.
• Following these transactions, Smith directly owns 191,496 shares and indirectly owns 6,000 shares through Kathyleen R. Smith TOD and Kathyleen R. Smith WFCS Custodian Trad IRA accounts.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard executive compensation practices and insider alignment with company performance. There are no red flags or negative implications.

Positives

• The acquisition of shares through performance awards and restricted stock grants aligns the executive's interests with the company's performance and long-term growth.
• The vesting schedule of the restricted shares encourages continued employment and contribution to the company.

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders, which is important for investor confidence and regulatory compliance.

Comparison to Industry Standards

• Executive compensation packages often include a mix of salary, stock options, restricted stock, and performance-based awards.
• The vesting schedules for restricted stock are typical, designed to retain key employees and align their interests with long-term shareholder value.
• Companies like Simon Property Group (SPG) and Prologis (PLD), also in the REIT sector, use similar equity-based compensation strategies to incentivize their executives.

Stakeholder Impact

• The transactions signal confidence from the executive in the company's future prospects, which can positively influence shareholder sentiment.
• The equity-based compensation structure aligns the executive's interests with those of the shareholders.

Key Dates

Keywords

CTO Realty Growth, Daniel Earl Smith, Form 4, Beneficial Ownership, Performance Shares, Restricted Stock, Insider Trading, SEC Filing