NewLake Capital Partners (NLCP) director gets 4,035 RSUs, updates dividend rights

Rhea-AI Filing Summary

NewLake Capital Partners director Joyce Johnson reported routine equity compensation. Johnson received 4,035 shares of common stock subject to restricted stock units valued using the $14.87 closing price on June 4, 2026, bringing her direct holdings to 21,065 shares. These RSUs vest 100% on the earlier of June 4, 2027 or the company’s 2027 annual stockholders meeting, assuming continued board service. Related dividend equivalent rights tied to prior RSUs for 482 underlying shares were settled in cash and simultaneously re-granted as new dividend equivalent rights covering 482 underlying common shares.

Insights

Equity compensation analyst

Filing shows routine director RSU grant with modest scale.

Director Joyce Johnson received 4,035 restricted stock units of NewLake Capital Partners common stock, valued using the $14.87 closing price on June 4, 2026. This is classified as a grant or award under the company’s 2021 Equity Incentive Plan.

The RSUs vest in full on the earlier of June 4, 2027 or the 2027 annual meeting, contingent on continued board service, which is typical for outside director compensation. Johnson’s direct holdings increase to 21,065 shares, indicating a relatively small but growing equity stake.

The filing also records 482 dividend equivalent rights tied to RSUs. These rights were first disposed of to the issuer when settled in cash, then re-granted at a zero conversion price for 482 underlying common shares. Overall, this appears to be standard equity and dividend-related housekeeping rather than a signal-driven market transaction.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider JOHNSON JOYCE

Role null

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

Holdings After Transaction: Dividend Equivalent Rights — 482 shares (Direct, null); Common Stock, par value $0.01 per share — 21,065 shares (Direct, null)

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

RSU grant size: 4,035 shares Grant valuation price: $14.87 per share Post-transaction holdings: 21,065 shares +1 more

4 metrics

RSU grant size 4,035 shares Restricted stock units granted on June 4, 2026

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

Post-transaction holdings 21,065 shares Common stock directly owned after RSU grant

Dividend equivalent rights 482 rights Rights tied to 482 underlying common shares

Key Terms

restricted stock units ("RSUs"), Dividend equivalent rights, 2021 Equity Incentive Plan, vesting, +1 more

5 terms

restricted stock units ("RSUs") financial

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

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

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 ... pursuant to the Issuer's 2021 Equity Incentive Plan for service on the Issuer's board..."

vesting financial

"The RSUs will vest, subject to continued service, 100% on the earlier of (i) June 4, 2027..."

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.

disposition to issuer financial

"transaction_action": "issuer disposition", "transaction_code_description": "Disposition to issuer""

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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^*

JOHNSON JOYCE

(Last) (First) (Middle)

C/O NEWLAKE CAPITAL PARTNERS, INC.

50 LOCUST AVE, 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	21,065	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	(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)

FAQ

What did Joyce Johnson receive in NewLake Capital Partners (NLCP) stock on June 4, 2026?

Joyce Johnson received a grant of 4,035 restricted stock units of NewLake Capital Partners common stock, valued using the $14.87 closing price. These RSUs represent equity-based compensation for her service on the company’s board of directors under the 2021 Equity Incentive Plan.

When do Joyce Johnson’s newly granted NLCP RSUs vest?

The 4,035 RSUs granted to Joyce Johnson vest 100% on the earlier of June 4, 2027 or the date of NewLake Capital Partners’ 2027 annual stockholders meeting. Vesting is conditioned on her continued service on the company’s board of directors through that date.

How many NewLake Capital Partners shares does Joyce Johnson hold after this Form 4?

Following this Form 4’s transactions, Joyce Johnson directly holds 21,065 shares of NewLake Capital Partners common stock. This figure reflects the impact of the 4,035-share RSU-based grant reported and provides context for the overall scale of her equity position in the company.

What are the 482 dividend equivalent rights reported for NLCP in this filing?

The 482 dividend equivalent rights relate to prior RSUs, accruing when NewLake Capital Partners paid dividends on its common stock. These rights were settled in cash on June 4, 2026, then re-granted as new dividend equivalent rights covering 482 underlying common shares at a zero conversion price.

Does this NLCP Form 4 show Joyce Johnson buying or selling stock on the market?

The Form 4 does not show open-market purchases or sales. Instead, it records a grant of 4,035 restricted stock units and cash settlement plus re-granting of 482 dividend equivalent rights, all classified as compensation-related and issuer-directed transactions, not discretionary market trading by Joyce Johnson.