Maui Land & Pineapple (MLP) director Stephen Case adds to share holdings

Rhea-AI Filing Summary

Maui Land & Pineapple Company, Inc. director and 10% owner Stephen M. Case reported open-market purchases of the company’s common stock through his revocable trust. On 11/26/2025, the trust bought 2,109 shares of common stock at a weighted average price of $15.48 per share, within a range of $15.33 to $15.50 per share. On 11/28/2025, the trust bought an additional 400 shares at $15.47 per share.

After these transactions, Mr. Case beneficially owned 11,966,054 shares indirectly through the Stephen M. Case Revocable Trust and 67,427 shares directly. He serves as sole trustee of the trust and has sole power to direct the voting and disposition of the shares held by the trust.

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).

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^*

CASE STEPHEN M

(Last) (First) (Middle)

1717 RHODE ISLAND AVENUE, N.W.

9TH FLOOR

(Street)

WASHINGTON DC 20036

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MAUI LAND & PINEAPPLE CO INC [ MLP ]

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

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
11/26/2025

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	11/26/2025		P		2,109(1)	A	$15.48(1)	11,966,054	I	By Trust(2)
Common Stock	11/28/2025		P		400	A	$15.47	11,966,454	I	By Trust(2)
Common Stock								67,427	D

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 price per share paid for the 2,109 shares ranged from $15.33 to $15.50 per share. The weighted average purchase price was $15.48 per share. Upon request, Mr. Case will provide the SEC staff, issuer, or any security holder of the issuer a list of the shares purchased and the prices paid per share.

2. Shares held directly by the Stephen M. Case Revocable Trust under agreement, dated December 17, 1998, as amended (the "Trust"). Mr. Case serves as the sole trustee of the Trust and has the solepower to direct the vote and disposition of the shares held by the Trust.

	/s/ STEPHEN M CASE	12/01/2025
	** 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 Stephen M. Case report for MLP?

Stephen M. Case, a director and 10% owner of Maui Land & Pineapple Co. Inc. (MLP), reported open-market purchases of the company’s common stock on 11/26/2025 and 11/28/2025 through his revocable trust.

How many Maui Land & Pineapple (MLP) shares did Stephen M. Case buy and at what prices?

On 11/26/2025, the trust bought 2,109 shares at a weighted average price of $15.48 per share, within a range of $15.33 to $15.50. On 11/28/2025, it bought 400 shares at $15.47 per share.

What is Stephen M. Case’s total beneficial ownership in Maui Land & Pineapple after these trades?

Following the reported transactions, Stephen M. Case beneficially owned 11,966,054 shares of MLP indirectly through his revocable trust and 67,427 shares directly.

How does Stephen M. Case hold his Maui Land & Pineapple (MLP) shares?

Most shares are held indirectly by the Stephen M. Case Revocable Trust under an agreement dated December 17, 1998, as amended. Mr. Case is the sole trustee and has sole power to direct the vote and disposition of the shares held by the trust.

What is Stephen M. Case’s relationship to Maui Land & Pineapple Co. Inc.?

Stephen M. Case is reported as both a director and a 10% owner of Maui Land & Pineapple Co. Inc. (MLP).

Were the MLP shares acquired through derivative securities or directly as common stock?

The reported transactions involved purchases of common stock. The section for derivative securities shows no derivative transactions reported.