Form 4: CTO Realty Growth SVP Steven Greathouse Reports Stock Award and Tax Withholding
SEC Form 4 Filing
Steven Greathouse, SVP & Chief Investment Officer of CTO Realty Growth, reports the acquisition of common stock through a performance shares award and restricted shares, as well as shares withheld for tax obligations.
Summary
- On February 11, 2025, CTO Realty Growth issued 17,078 shares of common stock to Steven Greathouse as part of a Performance Shares Award Agreement.
- Greathouse also had 4,158 shares withheld to cover payroll tax liabilities at a price of $20.26 per share.
- On February 12, 2025, Greathouse acquired 16,090 restricted shares.
- Following these transactions, Greathouse beneficially owns 184,289 shares, including 34,911 previously reported restricted shares that vest over time.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive. The stock awards indicate confidence in the company's future, while the tax withholding is a routine transaction.
Positives
- The granting of performance shares and restricted stock aligns Greathouse's interests with the long-term success of CTO Realty Growth.
Future Outlook
The restricted shares vest over time, contingent on continued employment, suggesting a commitment from the executive.
Industry Context
Form 4 filings are routine disclosures required by the SEC to ensure transparency in insider trading activities. They provide insights into the actions of company executives and their confidence in the company's prospects.
Comparison to Industry Standards
- Stock awards and restricted stock grants are common compensation practices in the real estate industry, used to incentivize and retain key executives.
- Vesting schedules, like the three-year vesting period for the restricted shares, are standard in executive compensation packages to align executive interests with long-term shareholder value.
Stakeholder Impact
- The stock awards align executive interests with shareholder value.
- The vesting schedule encourages long-term commitment from the executive.
Key Dates
| Date | Description |
|---|---|
| 2022-02-17 | Date of the Performance Shares Award Agreement between the Issuer and the Reporting Person. |
| 2025-01-28 | Date from which the restricted shares vest annually over three years. |
| 2025-02-11 | Date of issuance of 17,078 common stock shares and tax withholding of 4,158 shares. |
| 2025-02-12 | Date of acquisition of 16,090 restricted shares. |
| 2025-02-13 | Date of signature of the report. |
Keywords
CTO Realty Growth, Steven Greathouse, Form 4, Beneficial Ownership, Performance Shares, Restricted Stock, Tax Withholding, Insider Transaction
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.