Form 4: NewLake Capital Partners Director Sells Shares to Cover Tax Obligations

David L. Weinstein, a director at NewLake Capital Partners, sold shares of common stock to cover tax obligations incurred from vesting equity grants.

Summary

• On March 12 and 13, 2024, David L. Weinstein, a director of NewLake Capital Partners, sold shares of the company's common stock.
• The sales were executed to recoup certain tax obligations incurred upon the vesting and delivery of previously issued grants under the company's 2021 Equity Incentive Plan.
• On March 12, 2024, 7,401 shares were sold at a weighted average price of $16.44 per share.
• On March 13, 2024, 6,000 shares were sold at a weighted average price of $16.44 per share.
• Following these transactions, Weinstein directly owns 121,796 shares of NewLake Capital Partners common stock.
• The price range for the shares sold was between $16.43 and $16.44.
• A Form 144 covering the sale of the Issuer's common stock reported in Table I was filed with the Securities and Exchange Commission on March 12, 2024.

Sentiment

Score: 5

Explanation: The document describes a routine transaction (sale of shares to cover tax obligations) by a company director. It doesn't contain any information that would significantly impact investor sentiment positively or negatively.

Industry Context

Sales of shares by company directors to cover tax obligations are a common occurrence, especially after equity grants vest. This transaction is a routine financial activity and doesn't necessarily indicate a change in the director's confidence in the company.

Stakeholder Impact

• The sale of shares by a director could have a minor, temporary impact on the stock price due to increased selling pressure.

Key Dates