Millrose Properties grants RSUs to director under 2024 incentive plan

Millrose Properties, Inc. reported an equity award to one of its directors.

Rhea-AI Filing Summary

Millrose Properties, Inc. reported an equity award to one of its directors. On December 10, 2025, the company granted 6,451 restricted stock units (RSUs) of its Class A Common Stock under the 2024 Omnibus Incentive Plan. Each RSU converts into one share of Class A Common Stock.

According to the vesting schedule, 50% of the RSUs will vest on the earlier of April 3, 2026 or the first annual stockholder meeting after the grant date. The remaining 50% will vest on the earlier of April 3, 2027 or the second annual stockholder meeting after the grant date, subject to the director’s continuous service. After this grant, the director beneficially owns 15,961 shares of Class A Common Stock directly.

Insider Trade Summary

Grant/Award: 6,451 shares

Grant/Award 1 txn

Insider Lynch Kathleen B.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Stock	6,451	$0.00	$0.00

Holdings After Transaction: Class A Common Stock — 15,961 shares (Direct)

Footnotes (1)

1. F1. On December 10, 2025, Millrose Properties, Inc. (the "Issuer") granted 6,451 restricted stock units ("RSUs") to the reporting person under the Issuer's 2024 Omnibus Incentive Plan. Such RSUs vest into shares of Class A Common Stock of the Issuer on a 1-for-1 basis. 50% of the RSUs will vest upon the earlier to occur of (i) April 3, 2026 and (ii) the first annual stockholder meeting to follow the date of grant and the remaining 50% of the RSUs will vest upon the earlier of (i) April 3, 2027 and (ii) the date of the Issuer's second annual stockholder meeting to follow the date of grant, subject to the reporting person's continuous service as a director of the Issuer from the date of the grant through the vesting dates.

FAQ

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What did Millrose Properties (MRP) report in this Form 4 filing?

Millrose Properties, Inc. reported that one of its directors received a grant of 6,451 restricted stock units (RSUs) of Class A Common Stock under the company’s 2024 Omnibus Incentive Plan on December 10, 2025.

How many RSUs did the Millrose Properties director receive?

The director received 6,451 RSUs, each of which will vest into one share of Millrose Properties Class A Common Stock.

What is the vesting schedule for the 6,451 RSUs at Millrose Properties (MRP)?

50% of the RSUs will vest on the earlier of April 3, 2026 or the first annual stockholder meeting after the grant date, and the remaining 50% will vest on the earlier of April 3, 2027 or the second annual stockholder meeting after the grant date, if the director continues to serve.

What type of security was granted in this Millrose Properties Form 4?

The award consists of restricted stock units (RSUs) that settle into shares of Class A Common Stock of Millrose Properties, Inc. on a 1-for-1 basis upon vesting.

How many Millrose Properties shares does the reporting person own after this RSU grant?

After the reported transaction, the reporting person beneficially owns 15,961 shares of Millrose Properties Class A Common Stock, held with direct ownership.

What is the relationship of the reporting person to Millrose Properties (MRP)?

The reporting person is identified as a Director of Millrose Properties, Inc. in the filing.

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Accepted by SEC EDGAR 12/12/2025 - 04:28 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^*

Lynch Kathleen B.

(Last) (First) (Middle)

C/O MILLROSE PROPERTIES, INC.

600 BRICKELL AVENUE, SUITE 1400

(Street)

MIAMI FL 33131

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
12/10/2025

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
Class A Common Stock	12/10/2025		A		6,451(1)	A	$0	15,961	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 December 10, 2025, Millrose Properties, Inc. (the "Issuer") granted 6,451 restricted stock units ("RSUs") to the reporting person under the Issuer's 2024 Omnibus Incentive Plan. Such RSUs vest into shares of Class A Common Stock of the Issuer on a 1-for-1 basis. 50% of the RSUs will vest upon the earlier to occur of (i) April 3, 2026 and (ii) the first annual stockholder meeting to follow the date of grant and the remaining 50% of the RSUs will vest upon the earlier of (i) April 3, 2027 and (ii) the date of the Issuer's second annual stockholder meeting to follow the date of grant, subject to the reporting person's continuous service as a director of the Issuer from the date of the grant through the vesting dates.

	/s/ Rachel Presa attorney-in-fact	12/12/2025
	** 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.
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