Form 4: NewLake Capital Director Joyce Johnson Receives Equity Compensation Grant
Insider Transaction Report
NewLake Capital Partners, Inc. Director Joyce Johnson was granted 4,167 restricted stock units as compensation for her board service, increasing her direct beneficial ownership to 17,030 shares.
Summary
- Joyce Johnson, a Director of NewLake Capital Partners, Inc. (NLCP), was granted 4,167 shares of common stock in the form of Restricted Stock Units (RSUs) on June 11, 2025.
- The RSUs were granted at a price of $14.4 per share as compensation for her service on the Issuer's board of directors, determined using the closing price of the Issuer's common stock on June 5, 2025.
- These RSUs are set to vest 100% on the earlier of June 11, 2026, or the date of the Issuer's 2026 annual meeting of stockholders, contingent on her continued service.
- Following this transaction, Ms. Johnson's direct beneficial ownership of NewLake Capital Partners, Inc. common stock increased to 17,030 shares.
- Dividend equivalent rights associated with these RSUs, totaling 359.8 shares, were settled in cash on June 12, 2025, subsequent to the underlying RSUs vesting on June 5, 2025.
- The number of shares underlying the dividend equivalent rights was determined by dividing the accrued dollar amount by $14.90, which was the closing price of the Issuer's common stock on June 12, 2025.
- The transaction was made pursuant to a Rule 10b5-1(c) plan.
Sentiment
Score: 7
Explanation: The document reports a routine equity compensation grant to a director, which is a positive sign of aligning interests, but does not contain information that would significantly alter the company's financial outlook or strategic direction.
Positives
- Director Joyce Johnson received a grant of 4,167 Restricted Stock Units (RSUs), which aligns her interests with those of the company's shareholders.
- The transaction was executed under a Rule 10b5-1(c) plan, indicating a pre-arranged and compliant equity compensation event.
Future Outlook
The granted Restricted Stock Units are scheduled to vest on the earlier of June 11, 2026, or the date of the Issuer's 2026 annual meeting of stockholders, contingent on continued service.
Industry Context
This Form 4 filing reports a routine equity compensation grant to a director, which is a common practice across various industries to align management and board interests with shareholders. It does not provide information to assess broader industry trends or competitive positioning.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Equity Incentive Plan Utilization | The grant of Restricted Stock Units and settlement of dividend equivalent rights were conducted under the Issuer's 2021 Equity Incentive Plan, demonstrating ongoing use of the plan for director compensation. | 06/11/2025 | Reinforces alignment of director incentives with shareholder value through equity-based compensation. |
Stakeholder Impact
- Shareholders: The grant of RSUs to a director aligns the director's interests with shareholders, as the value of her compensation is tied to the company's stock performance.
Next Steps
- Continued service by Joyce Johnson for RSU vesting.
- Vesting of RSUs on the earlier of June 11, 2026, or the 2026 annual meeting of stockholders.
Key Dates
| Date | Description |
|---|---|
| 2021 | Year of the Issuer's Equity Incentive Plan under which RSUs and dividend equivalent rights were granted. |
| 06/05/2025 | Date used for determining the closing price for RSU grant calculation and the vesting date of underlying RSUs for dividend equivalent rights. |
| 06/11/2025 | Date of RSU grant to Joyce Johnson. |
| 06/12/2025 | Date dividend equivalent rights were settled in cash and the closing price of common stock was $14.90. |
| 06/13/2025 | Date the Form 4 was signed by Lisa Meyer, attorney in fact. |
| 06/11/2026 | Earliest vesting date for the granted RSUs, subject to continued service. |
| 2026 | Year of the Issuer's annual meeting of stockholders, which is an alternative vesting date for the granted RSUs. |
Keywords
NewLake Capital Partners, NLCP, SEC Form 4, Restricted Stock Units, RSUs, Insider Transaction, Director Compensation, Equity Incentive Plan, Stock Ownership, Corporate Governance
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