NewLake Capital (NLCP) director granted 4,035-share RSU award for board service

Rhea-AI Filing Summary

NewLake Capital Partners director Alan Jeffrey Carr reported routine equity compensation and related adjustments. He received a grant of 4,035 shares of common stock, valued using a $14.87 closing price, under the company’s 2021 Equity Incentive Plan for board service.

The grant is in the form of restricted stock units that vest 100% on June 4, 2027 or on the date of the 2027 annual stockholders’ meeting, if earlier, subject to continued service. Following these transactions, Carr directly holds 23,740 shares of common stock and indirectly holds 23,641 shares through his spouse.

Insights

Equity compensation analyst

Routine director equity grant with small related adjustments.

Director Alan Jeffrey Carr received 4,035 shares of common stock as restricted stock units for board service, using a $14.87 closing price on June 4, 2026. This aligns with typical equity compensation practices under a board incentive plan.

The RSUs vest fully on June 4, 2027, or on the 2027 annual meeting date if earlier, contingent on continued service. Footnotes show associated dividend equivalent rights being settled in cash and re-granted, a mechanical adjustment rather than an open-market trade.

After these changes, Carr holds 23,740 shares directly and 23,641 indirectly through his spouse, indicating a continuing equity stake. There are no remaining option-like derivatives disclosed in this filing, underscoring the administrative nature of the reported transactions.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Carr Alan Jeffrey

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Dividend Equivalent Rights	482	$0.00	--
Disposition	Dividend Equivalent Rights	482	$14.87	$7K
Grant/Award	Common Stock, par value $0.01 per share	4,035	$14.87	$60K
holding	Common Stock, par value $0.01 per share	--	--	--

Holdings After Transaction: Dividend Equivalent Rights — 482 shares (Direct); Common Stock, par value $0.01 per share — 23,740 shares (Direct); Common Stock, par value $0.01 per share — 23,641 shares (Indirect, By spouse)

Footnotes (1)

1. Represents common stock of NewLake Capital Partners, Inc. (the "Issuer") subject to restricted stock units ("RSUs") granted to the Reporting Person pursuant to the Issuer's 2021 Equity Incentive Plan for service on the Issuer's board of directors. Per the terms of the agreement, the number of RSUs granted was determined using the closing price of the Issuer's common stock on June 4, 2026. The RSUs will vest, subject to continued service, 100% on the earlier of (i) June 4, 2027 or (ii) the date of the Issuer's 2027 annual meeting of stockholders. Dividend equivalent rights accrued with respect to these RSUs when and as dividends were paid on the Issuer's common stock. The dividend equivalent rights were settled in cash on June 4, 2026, in accordance with the terms of the 2021 Equity Incentive Plan, subsequent to the vesting of the underlying RSUs on June 4, 2026. The number of shares of common stock underlying the dividend equivalent rights were determined by dividing the dollar amount of the accrued dividend equivalent rights by $14.87, which was the closing price of the Issuer's common stock on June 4, 2026.

Key Figures

Equity grant size: 4,035 shares Grant valuation price: $14.87 per share Dividend equivalent rights: 482 rights +2 more

5 metrics

Equity grant size 4,035 shares Restricted stock unit grant for board service on June 4, 2026

Grant valuation price $14.87 per share Closing price used to determine RSU grant size on June 4, 2026

Dividend equivalent rights 482 rights Dividend equivalent rights tied to RSUs, adjusted on June 4, 2026

Direct holdings after 23,740 shares Common stock directly held by Carr following the reported transactions

Indirect holdings after 23,641 shares Common stock indirectly held through spouse following the reported transactions

Key Terms

restricted stock units, Dividend equivalent rights, 2021 Equity Incentive Plan

3 terms

restricted stock units financial

"Represents common stock ... subject to restricted stock units ("RSUs") granted 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.

Dividend equivalent rights financial

"Dividend equivalent rights accrued with respect to these RSUs when and as dividends were paid"

Dividend equivalent rights are promises that mirror the cash payments shareholders get from a company’s profits, but they are paid to holders of certain awards (like stock options or restricted stock units) rather than to actual shares. Think of them as a paycheck top‑up that matches dividends while the award is not yet a real stock, and they matter to investors because they add to employee compensation costs and potential share dilution, affecting company profitability and per‑share value.

2021 Equity Incentive Plan financial

"RSUs granted to the Reporting Person pursuant to the Issuer's 2021 Equity Incentive Plan"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/08/2026 - 04:10 PM Accepted by SEC EDGAR 06/08/2026 - 04:09 PM Learn about SEC filing dates

FAQ

What equity award did NewLake Capital Partners (NLCP) director Alan Jeffrey Carr receive?

Alan Jeffrey Carr received an equity grant covering 4,035 shares of NewLake Capital Partners common stock. The award was issued as restricted stock units for his board service under the 2021 Equity Incentive Plan, using the stock’s $14.87 closing price on June 4, 2026.

How and when will Alan Jeffrey Carr’s NewLake (NLCP) RSUs vest?

Carr’s restricted stock units are scheduled to vest 100% on June 4, 2027. Alternatively, they vest earlier if NewLake Capital Partners holds its 2027 annual meeting of stockholders before that date, with vesting conditioned on his continued service on the board.

What are the dividend equivalent rights reported in Alan Jeffrey Carr’s NLCP Form 4?

The dividend equivalent rights accrued on the RSUs when NewLake paid dividends on its common stock. These rights were settled in cash on June 4, 2026, based on a $14.87 share price, and then re-granted as 482 new dividend equivalent rights linked to common stock.

How many NewLake Capital Partners (NLCP) shares does Alan Jeffrey Carr hold after these transactions?

Following the reported transactions, Carr directly holds 23,740 shares of NewLake Capital Partners common stock. He also indirectly holds 23,641 shares through his spouse, reflecting both personal and family-related ownership interests reported in the Form 4 filing.

Were Alan Jeffrey Carr’s NLCP transactions open-market buys or sells?

The reported transactions do not involve open-market buying or selling. They consist of a 4,035-share restricted stock unit grant for board service and mechanical adjustments to 482 dividend equivalent rights, including a cash settlement and corresponding re-grant under the equity plan.

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^*

Carr Alan Jeffrey

(Last) (First) (Middle)

C/O NEWLAKE CAPITAL PARTNERS, INC.

50 LOCUST AVENUE, FIRST FLOOR

(Street)

NEW CANAAN CONNECTICUT 06840

(City) (State) (Zip)

UNITED STATES

(Country)

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
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/04/2026

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
Common Stock, par value $0.01 per share	06/04/2026		A		4,035(1)	A	$14.87	23,740	D
Common Stock, par value $0.01 per share								23,641	I	By spouse

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	(2)	06/04/2026		A		482		(2)	(2)	Common Stock	482	$0	482	D
Dividend Equivalent Rights	(2)	06/04/2026		D			482	(2)	(2)	Common Stock	482	$14.87	0	D

Explanation of Responses:

1. Represents common stock of NewLake Capital Partners, Inc. (the "Issuer") subject to restricted stock units ("RSUs") granted to the Reporting Person pursuant to the Issuer's 2021 Equity Incentive Plan for service on the Issuer's board of directors. Per the terms of the agreement, the number of RSUs granted was determined using the closing price of the Issuer's common stock on June 4, 2026. The RSUs will vest, subject to continued service, 100% on the earlier of (i) June 4, 2027 or (ii) the date of the Issuer's 2027 annual meeting of stockholders.

2. Dividend equivalent rights accrued with respect to these RSUs when and as dividends were paid on the Issuer's common stock. The dividend equivalent rights were settled in cash on June 4, 2026, in accordance with the terms of the 2021 Equity Incentive Plan, subsequent to the vesting of the underlying RSUs on June 4, 2026. The number of shares of common stock underlying the dividend equivalent rights were determined by dividing the dollar amount of the accrued dividend equivalent rights by $14.87, which was the closing price of the Issuer's common stock on June 4, 2026.

Remarks:

	/s/ Lisa Meyer, attorney in fact	06/08/2026
	** 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)