NewLake Capital (NLCP) CEO nets 23,924 shares after PSU vesting

Rhea-AI Filing Summary

NewLake Capital Partners, Inc.’s President and CEO Anthony Coniglio reported the vesting of performance stock units tied to results from January 2023 through December 2025. The award converted into 23,924 shares of common stock on a one-for-one basis under the 2021 Equity Incentive Plan. To cover taxes on this vesting, 10,771 shares were withheld at a price of $15 per share, leaving Coniglio with 606,439 common shares held directly after the transactions. Related dividend equivalent rights totaling 7,958.7 units accrued on the PSUs and were settled in cash based on the $15 closing price on January 22, 2026.

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

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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^*

Coniglio Anthony

(Last) (First) (Middle)

C/O NEWLAKE CAPITAL PARTNERS, INC.

50 LOCUST AVENUE, FIRST FLOOR

(Street)

NEW CANAAN CT 06840

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NewLake Capital Partners, Inc. [ NLCP ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
01/22/2026

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, par value $0.01 per share	01/22/2026		A		23,924(1)	A	(2)	617,210	D
Common Stock, par value $0.01 per share	01/23/2026		F		10,771(3)	D	$15	606,439	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
Dividend Equivalent Rights	$0(4)	01/22/2026		A		7,958.7		(4)	(4)	Common Stock	7,958.7	$0	7,958.7	D
Dividend Equivalent Rights	$0(4)	01/22/2026		D			7,958.7	(4)	(4)	Common Stock	7,958.7	$15	0	D

Explanation of Responses:

1. On January 22, 2026, the Compensation Committee of the Board of Directors of NewLake Capital Partners, Inc. (the "Issuer") certified the Reporting Person's achievement relative to the applicable performance hurdles during the measurement period that began on January 1, 2023, and ended on December 31, 2025, and approved the vesting of the performance stock units ("PSUs").

2. In accordance with the award agreement and the Issuer's 2021 Equity Incentive Plan, the PSUs convert into common stock on a one-for-one basis.

3. Shares reported were withheld from the Reporting Person for the payment of taxes associated with the vesting of the PSUs.

4. Dividend equivalent rights accrued with respect to these PSUs when and as dividends were paid on the Issuer's common stock. The dividend equivalent rights were settled in cash in accordance with the 2021 Equity Incentive Plan when the underlying PSUs vested on January 22, 2026. The number of shares of common stock underlying the dividend equivalent rights was determined by dividing the dollar amount of the accrued dividend equivalent rights by $15.00, which was the closing price of the Issuer's common stock on January 22, 2026.

Remarks:

	/s/ Lisa Meyer, attorney in fact	01/23/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did NLCP CEO Anthony Coniglio report on this Form 4?

Anthony Coniglio, President and CEO of NewLake Capital Partners, Inc. (NLCP), reported the vesting of performance stock units that converted into 23,924 shares of common stock, plus related dividend equivalent rights that were settled in cash.

How many NewLake Capital Partners (NLCP) shares did the CEO receive from PSU vesting?

The vested performance stock units converted into 23,924 shares of NewLake Capital Partners common stock on a one-for-one basis under the company’s 2021 Equity Incentive Plan.

How many NLCP shares were withheld for taxes in this insider transaction?

10,771 shares of NewLake Capital Partners common stock were withheld from Anthony Coniglio to pay taxes associated with the vesting of the performance stock units, at a price of $15 per share.

What is Anthony Coniglio’s NLCP share ownership after these Form 4 transactions?

Following the reported transactions, Anthony Coniglio directly beneficially owns 606,439 shares of NewLake Capital Partners common stock.

What are the dividend equivalent rights reported in the NLCP Form 4?

The Form 4 shows 7,958.7 dividend equivalent rights accruing on the performance stock units as dividends were paid. These rights were settled in cash when the PSUs vested, based on the $15 closing share price on January 22, 2026, and the derivative balance in these rights is now 0.

What performance period did the vested NLCP performance stock units cover?

The Compensation Committee certified Anthony Coniglio’s achievement against performance hurdles for a measurement period running from January 1, 2023, through December 31, 2025, which led to the vesting of the performance stock units.