[Form 4] Millrose Properties, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Millrose Properties, Inc. director Carlos A. Migoya received a grant of 5,639 restricted stock units on May 13, 2026 under the company’s 2024 Omnibus Incentive Plan. These RSUs convert into Class A Common Stock on a 1-for-1 basis when they vest.

The award will vest at the earlier of the first anniversary of the grant date or the next annual stockholder meeting, as long as Migoya continues serving as a director through that time. After this grant, he directly holds 29,075 shares of Class A Common Stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider MIGOYA CARLOS A.

Role null

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

Holdings After Transaction: Class A Common Stock — 29,075 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

RSUs granted: 5,639 units Post-grant holdings: 29,075 shares Grant price per share: $0.00 per share +2 more

5 metrics

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

Post-grant holdings 29,075 shares Class A Common Stock directly held after transaction

Grant price per share $0.00 per share Form 4 reports transaction price of 0.0000

Vesting trigger 1 year or next meeting Earlier of first anniversary or next annual stockholder meeting

Conversion ratio 1-for-1 Each RSU vests into one Class A Common share

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

"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

"Such 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.

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^*

MIGOYA CARLOS A.

(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	29,075	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)

FAQ

What did Millrose Properties (MRP) disclose in this Form 4 for Carlos A. Migoya?

Millrose Properties reported that director Carlos A. Migoya received 5,639 restricted stock units on May 13, 2026. The grant was made under the 2024 Omnibus Incentive Plan and will settle into Class A Common Stock when vesting conditions are satisfied.

How many RSUs did Millrose Properties (MRP) grant to director Carlos A. Migoya?

Millrose Properties granted 5,639 restricted stock units to director Carlos A. Migoya. Each unit represents the right to receive one share of Class A Common Stock, subject to the vesting schedule and his continued service on the company’s board of directors.

What are the vesting terms of the RSUs granted by Millrose Properties (MRP) to Carlos A. Migoya?

The 5,639 RSUs granted to Carlos A. Migoya vest at the earlier of the first anniversary of the May 13, 2026 grant date or the next annual stockholder meeting. Vesting requires his continuous service as a director through the applicable vesting date.

Under which plan were the RSUs to Carlos A. Migoya at Millrose Properties (MRP) granted?

The restricted stock units granted to Carlos A. Migoya were issued under Millrose Properties’ 2024 Omnibus Incentive Plan. This plan authorizes equity-based awards such as RSUs to directors and other eligible participants as part of the company’s compensation framework.

How many Millrose Properties (MRP) shares does Carlos A. Migoya hold after this RSU grant?

Following the RSU grant, Carlos A. Migoya directly holds 29,075 shares of Millrose Properties Class A Common Stock. This figure reflects his position after recording the 5,639 restricted stock units that will ultimately settle into shares upon vesting.