Millrose director granted 5,639 RSUs in MRP stock

BARTELS PATRICK J JR reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

BARTELS PATRICK J JR reported acquisition or exercise transactions in this Form 4 filing.

Millrose Properties, Inc. director Patrick J. Bartels Jr. received a grant of 5,639 restricted stock units (RSUs) of Class A Common Stock under the company’s 2024 Omnibus Incentive Plan. The award was recorded at a price of $0.00 per share as a compensation grant, not a market purchase.

The RSUs will vest into Class A Common Stock on a 1-for-1 basis upon the earlier of the first anniversary of the grant date or the next annual stockholder meeting, subject to his continuous service as a director. Following this grant, Bartels directly holds 42,750 shares of Millrose Properties, Inc. common stock.

Insider Trade Summary

Grant/Award: 5,639 shares

Grant/Award 1 txn

Insider BARTELS PATRICK J JR

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Stock	5,639	$0.00	$0.00

Holdings After Transaction: Class A Common Stock — 42,750 shares (Direct)

Footnotes (1)

1. F1. On May 13, 2026, Millrose Properties, Inc. (the "Issuer") granted 5,639 restricted stock units ("RSUs") to the reporting person under the Issuer's 2024 Omnibus Incentive Plan. Such RSUs will vest into shares of Class A Common Stock of the Issuer on a 1-for-1 basis upon the earlier of (i) the first anniversary of the date of the grant and (ii) the date of the Issuer's annual stockholder meeting that next follows the date of the grant, subject to the reporting person's continuous service as a director of the Issuer from the date of the grant through the vesting date.

Key Figures

RSUs granted: 5,639 units Grant price: $0.00 per share Shares after transaction: 42,750 shares +1 more

4 metrics

RSUs granted 5,639 units Restricted stock units granted on May 13, 2026

Grant price $0.00 per share Equity compensation grant, not open-market purchase

Shares after transaction 42,750 shares Total Class A Common Stock held directly after grant

Vesting conversion ratio 1-for-1 Each RSU converts into one share of Class A Common Stock

Key Terms

restricted stock units, 2024 Omnibus Incentive Plan, Class A Common Stock, vesting

4 terms

restricted stock units financial

"granted 5,639 restricted stock units ("RSUs") to the reporting person"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

2024 Omnibus Incentive Plan financial

"under the Issuer's 2024 Omnibus Incentive Plan"

Class A Common Stock financial

"will vest into shares of Class A Common Stock of the Issuer"

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

vesting financial

"RSUs will vest into shares of Class A Common Stock"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Millrose Properties (MRP) report for Patrick J. Bartels Jr.?

Millrose Properties reported that director Patrick J. Bartels Jr. received a grant of 5,639 restricted stock units of Class A Common Stock. The RSUs were awarded as equity compensation under the 2024 Omnibus Incentive Plan rather than acquired through an open-market stock purchase.

How many Millrose Properties (MRP) shares does Patrick J. Bartels Jr. hold after this Form 4?

After the reported transaction, Patrick J. Bartels Jr. directly holds 42,750 shares of Millrose Properties Class A Common Stock. This total includes the impact of the new 5,639-share RSU grant disclosed, as reflected in the post-transaction holdings figure in the filing.

What are the vesting terms of the 5,639 RSUs granted by Millrose Properties (MRP)?

The 5,639 RSUs vest into Class A Common Stock on a 1-for-1 basis upon the earlier of the first anniversary of the grant date or the next annual stockholder meeting, provided Patrick J. Bartels Jr. continues serving as a director through the applicable vesting date.

Was the Millrose Properties (MRP) RSU grant to Patrick J. Bartels Jr. a market purchase?

No, the RSU grant was not a market purchase. The Form 4 shows transaction code “A” with a price of $0.00 per share, indicating a grant or award of restricted stock units as compensation rather than an open-market buy order.

Under which plan were the 5,639 Millrose Properties (MRP) RSUs granted?

The 5,639 restricted stock units were granted under Millrose Properties’ 2024 Omnibus Incentive Plan. This plan provides for equity-based awards, and the RSUs will convert into shares of Class A Common Stock according to the vesting schedule described in the Form 4 footnote.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/13/2026 - 04:29 PM Learn about SEC filing dates

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^*

BARTELS PATRICK J JR

(Last) (First) (Middle)

C/O MILLROSE PROPERTIES, INC.

600 BRICKELL AVENUE, SUITE 1400

(Street)

MIAMI FLORIDA 33131

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Millrose Properties, Inc. [ MRP ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/13/2026

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

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

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

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
Class A Common Stock	05/13/2026		A		5,639(1)	A	$0	42,750	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. On May 13, 2026, Millrose Properties, Inc. (the "Issuer") granted 5,639 restricted stock units ("RSUs") to the reporting person under the Issuer's 2024 Omnibus Incentive Plan. Such RSUs will vest into shares of Class A Common Stock of the Issuer on a 1-for-1 basis upon the earlier of (i) the first anniversary of the date of the grant and (ii) the date of the Issuer's annual stockholder meeting that next follows the date of the grant, subject to the reporting person's continuous service as a director of the Issuer from the date of the grant through the vesting date.

	/s/ Rachel Presa, attorney-in-fact	05/13/2026
	** 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.
* Form 4: SEC 1474 (03-26)