Alexander & Baldwin (ALEX) Form 4: 700-share sale under 10b5-1 plan

Rhea-AI Filing Summary

Meredith J. Ching, Executive Vice President, External Affairs of Alexander & Baldwin, Inc. (ALEX) reported an insider sale on 09/10/2025 under a Rule 10b5-1 trading plan. The filing shows 700 shares sold as a direct disposition at a weighted average price of $18.7554. After the sale, the reporting person directly beneficially owned 147,549 shares. The filing also reports 213 shares indirectly held by the reporting person’s spouse and 781.571 shares indirectly held by the company’s TCESOP, all listed as indirect ownership. The filer notes the reported sale was executed in multiple transactions at prices ranging from $18.68 to $18.85 and that full breakdown by price is available on request.

Positive

• Sale executed under a Rule 10b5-1 trading plan, which documents pre-set intent and reduces concerns about opportunistic timing
• Reporting person retains substantial direct ownership of 147,549 shares after the sale, maintaining continued alignment with shareholders
• Filing discloses price range and weighted average price, offering transparency about execution prices

Negative

• Insider sold shares (700 shares), which may be viewed negatively by some investors despite being under a 10b5-1 plan

Insights

Financial Analyst

TL;DR: Routine insider sale under a 10b5-1 plan; small share amount relative to reported holdings, informs liquidity but not company fundamentals.

The Form 4 documents a planned disposition executed under a Rule 10b5-1 plan: 700 shares sold at a weighted average price of $18.7554, with transaction prices between $18.68 and $18.85. The reporting person retains substantial direct ownership of 147,549 shares and indirect holdings via spouse (213) and TCESOP (781.571). This is a standard disclosure of insider liquidity and does not by itself indicate changes to corporate performance or capital structure because it was executed pursuant to a pre-established trading plan.

Corporate Governance Expert

TL;DR: Disclosure complies with Section 16 reporting; sale flagged as 10b5-1, reducing regulatory ambiguity around intent.

The filing explicitly checks the box indicating the sale was made pursuant to a Rule 10b5-1 written plan and provides a weighted average price plus a stated execution price range. The signature and explanatory footnotes meet standard Form 4 disclosure requirements. The record of retained direct and indirect ownership is clearly stated, supporting transparency about potential insider influence and conflicts. No amendments or additional derivative transactions were reported.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

CHING MEREDITH J

(Last) (First) (Middle)

822 BISHOP STREET

(Street)

HONOLULU HI 96813

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Alexander & Baldwin, Inc. [ ALEX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Exec. VP, External Affairs

3. Date of Earliest Transaction (Month/Day/Year)
09/10/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/10/2025		S(1)		700	D	$18.7554(2)	147,549	D
Common Stock								213	I	By Spouse
Common Stock								781.571	I	By TCESOP

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. THE SALES REPORTED IN THIS FORM 4 WERE EFFECTED PURSUANT TO A RULE 10b5-1 TRADING PLAN.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $18.68 to $18.85, inclusive. The reporting person undertakes to provide to Alexander & Baldwin, Inc., any security holder or Alexander & Baldwin, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

	/s/ Meredith J. Ching	09/10/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did Meredith J. Ching report on Form 4 for ALEX?

The Form 4 reports a sale of 700 shares on 09/10/2025 executed under a Rule 10b5-1 trading plan at a weighted average price of $18.7554.

How many ALEX shares does Meredith J. Ching beneficially own after the reported transaction?

After the reported sale, Meredith J. Ching directly beneficially owns 147,549 shares, with 213 shares indirectly by spouse and 781.571 shares indirectly via TCESOP.

Was the sale made pursuant to a pre-established trading plan?

Yes. The Form 4 explicitly indicates the transactions were effected pursuant to a Rule 10b5-1 trading plan.

What price range and weighted average price were reported for the ALEX share sales?

The filing states sales occurred at prices ranging from $18.68 to $18.85, with a reported weighted average price of $18.7554.

Does this Form 4 report any derivative transactions for ALEX by the reporting person?

No derivative securities transactions are reported in Table II; only non-derivative common stock dispositions are disclosed.