Stephen Case (MLP) trust adds 5,000 Maui Land & Pineapple shares in buys

Rhea-AI Filing Summary

Maui Land & Pineapple Co. director and 10% owner Stephen M. Case, through the Stephen M. Case Revocable Trust, reported open-market purchases of a total of 5,000 shares of common stock. The Trust bought 2,500 shares on September 8, 2025 at a weighted average price of $16.91 per share, and another 2,500 shares on September 9, 2025 at a weighted average price of $16.96 per share. After these transactions, the Trust held 11,940,478 shares indirectly, while Case also reported 67,427 shares held directly.

Insider Trade Summary

Net Buyer: 5,000 shares ($84,675)

Net Buy 3 txns

Insider CASE STEPHEN M

Role Director, 10% Owner

Bought 5,000 shs ($85K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	2,500	$16.96	$42K
Purchase	Common Stock	2,500	$16.91	$42K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 11,940,478 shares (Indirect, By Trust); Common Stock — 67,427 shares (Direct)

Footnotes (1)

1. The price per share paid for the 2,500 shares ranged from $16.78 to $17.00 per share. The weighted average purchase price was $16.91 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. 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 sole power to direct the vote and disposition of the shares held by the Trust. The price per share paid for the 2,500 shares ranged from $16.80 to $17.00 per share. The weighted average purchase price was $16.96 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.

Form 4 Insider Transactions: What Each Field Means →

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)
09/08/2025

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	09/08/2025		P		2,500(1)	A	$16.91(1)	11,937,978	I	By Trust(2)
Common Stock	09/09/2025		P		2,500(3)	A	$16.96(3)	11,940,478	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 2,500 shares ranged from $16.78 to $17.00 per share. The weighted average purchase price was $16.91 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 sole power to direct the vote and disposition of the shares held by the Trust.

3. The price per share paid for the 2,500 shares ranged from $16.80 to $17.00 per share. The weighted average purchase price was $16.96 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.

	/s/ STEPHEN M CASE	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 MLP director Stephen M. Case report?

Stephen M. Case reported buying 5,000 Maui Land & Pineapple (MLP) common shares in open-market transactions. These purchases, made through his revocable trust, were split into two 2,500-share trades on consecutive days at prices just under $17 per share.

On what dates did the MLP insider purchases in this Form 4 occur?

The reported MLP insider purchases occurred on September 8, 2025 and September 9, 2025. Each day, the Stephen M. Case Revocable Trust acquired 2,500 shares of common stock in open-market transactions, as disclosed in the Form 4 filing.

What prices were paid for the Maui Land & Pineapple (MLP) shares?

The trust paid weighted average prices of $16.91 and $16.96 per MLP share. For September 8, 2025, prices ranged from $16.78 to $17.00, and for September 9, 2025, from $16.80 to $17.00, according to the detailed Form 4 footnotes.

How many MLP shares does Stephen M. Case report owning after these trades?

Following these trades, Stephen M. Case reports indirect ownership of 11,940,478 MLP shares through his revocable trust. He also reports direct ownership of 67,427 common shares, as shown in the Form 4’s beneficial ownership columns.

How are the Maui Land & Pineapple shares held by Stephen M. Case structured?

Most MLP shares are held indirectly by the Stephen M. Case Revocable Trust, where Case is sole trustee. The Form 4 indicates 11,940,478 shares held by the trust and 67,427 shares held directly in his own name.

What do the Form 4 footnotes say about the MLP trade price ranges?

The footnotes state the 2,500 shares on September 8 traded between $16.78 and $17.00, with a $16.91 weighted average. On September 9, shares traded between $16.80 and $17.00, with a $16.96 weighted average purchase price.