[Form 4] Maui Land & Pineapple Co. Insider Trading Activity

Rhea-AI Filing Summary

Stephen M. Case filed a Form 4 reporting transactions in Maui Land & Pineapple Co. (MLP) dated 08/27/2025. The filing shows a purchase of 320 shares of common stock at $17.00 per share and a separate disposition of 67,427 shares. After the reported transactions, the filing lists 11,934,465 shares beneficially owned indirectly through the Stephen M. Case Revocable Trust. The filing states Mr. Case is the sole trustee and has sole power to direct the vote and disposition of the trust-held shares.

Positive

• Purchase disclosed: 320 shares acquired at $17 per share on 08/27/2025
• Clear ownership disclosure: 11,934,465 shares held indirectly via the Stephen M. Case Revocable Trust with sole trustee authority

Negative

• Disposition disclosed: 67,427 shares were reported as disposed on the same filing
• No rationale provided for the purchase or the disposition in the filing itself

Insights

Corporate Governance Expert

TL;DR: Insider reports minor open-market purchase and a large indirect trust holding, with trustee control clearly stated.

The Form 4 discloses a small acquisition of 320 shares at $17 and a larger reported disposition of 67,427 shares on the same reporting line dated 08/27/2025. Crucially, the filing documents substantial indirect ownership of 11,934,465 shares held by the Stephen M. Case Revocable Trust and affirms Mr. Case's sole trustee authority to vote and dispose of those shares. From a governance perspective, the disclosure clarifies beneficial ownership and voting control but does not provide context for the rationale behind the disposal or purchase.

Securities Analyst

TL;DR: The transactions are reported clearly but contain no financial performance context; ownership remains concentrated via a trust.

The filing lists a purchase (320 shares at $17) and a reported disposition (67,427 shares) with post-transaction indirect beneficial ownership of 11,934,465 shares through a revocable trust. The document is a routine Section 16 disclosure that documents changes in insider holdings and control; it does not include market impact, timing rationale, or derivative positions. Investors receive confirmation of significant concentrated ownership and formal trustee control as disclosed in the Form 4.

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)
08/27/2025

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	08/27/2025		P		320	A	$17	11,934,465	I	By Trust(1)
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. Shares held 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.

	/s/ STEPHEN M CASE	08/29/2025
	** 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 transactions did Stephen M. Case report on Form 4 for MLP?

The Form 4 reports a purchase of 320 common shares at $17.00 and a reported disposition of 67,427 shares, with transactions dated 08/27/2025.

How many MLP shares does Stephen M. Case beneficially own after the reported transactions?

The filing reports 11,934,465 shares beneficially owned indirectly through the Stephen M. Case Revocable Trust following the reported transactions.

Does Stephen M. Case control the shares held in the trust?

Yes. The filing states Mr. Case serves as the sole trustee of the revocable trust and has the sole power to direct the vote and disposition of the shares held by the trust.

What is the transaction date shown on the Form 4?

The earliest transaction date listed on the Form 4 is 08/27/2025.

Is there any information on derivative securities in this filing?

No. Table II for derivative securities contains no reported derivative transactions in this filing.