Welcome to our dedicated page for Maui Ld & Pineap SEC filings (Ticker: MLP), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Maui Land & Pineapple Company filings document the formal disclosures of a Maui landholding and real estate operating company. The record includes material-event reports on operating results, property agreements, water infrastructure disclosures, credit facility amendments and other business updates tied to the company’s land, leasing and resort-related asset base.
Proxy filings cover governance matters such as director elections, executive compensation, equity awards, pay-versus-performance information and shareholder voting items. Other disclosures address annual-report timing, capital structure, secured borrowing arrangements, commercial property collateral, and the agreements and risks associated with developing, leasing, selling and managing land and infrastructure assets on Maui.
Maui Land & Pineapple Company, Inc. reported strong fiscal 2025 results with total operating revenues of $19,457 thousand, up 68% from 2024. Growth was driven by land development and sales revenue of $5,811 thousand and leasing revenue of $12,799 thousand, aided by 15 new leases and broader asset management efforts.
Adjusted EBITDA rose to $1,766 thousand, a 146% increase from 2024, marking a second year of improvement. The company still posted a net loss of $10,579 thousand, or $0.54 per share, largely due to $6,600 thousand of pension and post-retirement expense related to funding and annuitizing its qualified pension plan.
Cash and investments convertible to cash totaled $5,295 thousand at year-end, down from $9,522 thousand a year earlier. The company highlighted targeted non-strategic land sales totaling $2,435 thousand and launched a 38-acre blue weber agave agricultural venture, while planning to resolve remaining pension obligations in late 2026 at an estimated $1,600 thousand.
Maui Land & Pineapple Company, Inc. reports full-year 2025 results showing continued land development progress and higher leasing activity while posting a larger net loss driven mainly by a pension plan settlement.
Operating revenues rose to $19.5 million from $11.6 million, led by leasing revenue of $12.8 million (about 66% of total) and land development and sales revenue of $5.8 million, including non-strategic parcel sales and Honokeana Homes project work. The company recorded a net loss of $10.6 million, or $0.54 per share, largely due to a one-time $6.6 million defined benefit pension settlement.
The company controls approximately 22,286 acres of land and 247,328 square feet of commercial space on Maui, with commercial real estate 92% leased at year-end 2025. It expanded its revolving credit facility to $25 million, with $4 million drawn and cash of $5.3 million, and is advancing multiple long-term Kapalua and Upcountry development projects while increasing leasing to support recurring cash flow.
Maui Land & Pineapple Co. Inc. CFO Wade K. Kodama reported a routine tax-related share disposition. On July 8, 2025, 618 shares of common stock were withheld to cover a tax liability, rather than sold on the open market. After this adjustment and a correction noted in the footnote, Kodama’s directly held common stock position stands at 26,895 shares. This Form 4/A is an amendment that updates the cumulative share balance, rather than indicating a new investment decision or discretionary trading activity.
MAUI LAND & PINEAPPLE CO INC director and 10% owner Stephen M. Case reported additional open-market purchases of company stock through his revocable trust. On August 21 and 22, 2025, the Stephen M. Case Revocable Trust bought 2,500 shares each day of common stock at weighted average prices of $16.15 and $16.52 per share, respectively. Case serves as sole trustee and has sole voting and disposition power over the shares held by the trust. Following these transactions, indirect holdings reported for the trust total 11,931,445 shares of common stock, while direct holdings reported in Case’s own name are 67,427 shares.
Aeppel Glyn reported acquisition or exercise transactions in this Form 4 filing.
Maui Land & Pineapple Company director Glyn Aeppel received a stock grant of 5,804 common shares as director compensation for 2026. The award was granted at no cash cost under the company’s 2017 Equity and Incentive Award Plan and is structured as restricted stock.
The shares vest in four equal installments of 1,451 shares on March 31, June 30, September 30, and December 31, 2026, as long as Aeppel remains a director on each vesting date. Following this grant, Aeppel directly holds 22,963 common shares.
MAUI LAND & PINEAPPLE CO INC CFO Wade K. Kodama reported equity compensation and related tax withholding in company stock. On March 3, 2026, he received two grant or award acquisitions of 7,344 shares each of common stock and had 3,499 shares disposed in a tax-withholding transaction.
According to the equity plan terms, these long-term incentive shares for fiscal 2025 vest net of tax shares, with 612 shares scheduled to vest on the last business day of each calendar quarter from March 31, 2026 through December 31, 2028, contingent on his continued service as CFO on each vesting date.
Takitani Anthony P. reported acquisition or exercise transactions in this Form 4 filing.
MAUI LAND & PINEAPPLE CO INC director Anthony P. Takitani reported receiving a grant of 5,188 shares of common stock as director compensation under the Company’s 2017 Equity and Incentive Award Plan. The award covers the period from January 1, 2026 to December 31, 2026 and was granted at a stated price of $0 per share.
According to the filing, 1,297 shares are scheduled to vest on each of March 31, 2026, June 30, 2026, September 30, 2026, and December 31, 2026, provided he remains a director on each vesting date. Following this award, his directly held common stock position increased to 62,896 shares.
Maui Land & Pineapple CEO Randle Race reported equity compensation and related tax-share transactions in common stock. He acquired 24,610 and 24,612 shares as stock grants under the Company’s 2017 Equity and Incentive Award Plan as long-term incentives earned for fiscal year 2025. He also disposed of 18,008 shares through a tax-withholding transaction to cover exercise price or tax liabilities by delivering shares.
The granted shares vest net of deducted tax shares, with forfeiture restrictions lapsing on the last business day of each calendar quarter for 12 consecutive quarters after the grant date, so long as he remains CEO on each vesting date. According to the schedule, 2,051 shares are set to vest on March 31, June 30, September 30, and December 31 of each year from 2026 through 2028.
SELLERS R SCOT reported acquisition or exercise transactions in this Form 4 filing.
Maui Land & Pineapple Co., Inc. reported that director R. Scot Sellers received a grant of 12,056 shares of common stock on March 3, 2026. The grant was made under the company’s 2017 Equity and Incentive Award Plan as director compensation for the period from January 1, 2026 to December 31, 2026.
The shares vest quarterly, with 3,014 shares scheduled to vest on each of March 31, 2026, June 30, 2026, September 30, 2026, and December 31, 2026, subject to Sellers continuing to serve as a director on each vesting date. Following this grant, he holds 46,800 shares of common stock directly.
Ota Ken reported acquisition or exercise transactions in this Form 4 filing.
Maui Land & Pineapple Co. Inc. granted director Ken Ota 5,804 shares of common stock as director compensation for the period from January 1, 2026 to December 31, 2026 under its 2017 Equity and Incentive Award Plan.
The award vests in four equal installments of 1,451 shares on March 31, June 30, September 30, and December 31, 2026, in each case only if he remains a director on the applicable vesting date. After this grant, Ota directly holds 13,336 common shares.