[Form 4] NewLake Capital Partners, Inc. Insider Trading Activity

Rhea-AI Filing Summary

David L. Weinstein, a director of NewLake Capital Partners, Inc. (NLCP), reported the sale of company common stock. On 09/25/2025 the filing shows 12,633 shares sold at a weighted-average price of $14.02 per share (range $14.00–$14.10). After the transaction the reporting person is shown as beneficially owning 27,681 shares. The filing notes a Form 144 was filed on 09/24/2025 and the Form 4 was signed on 09/26/2025 by an attorney-in-fact.

Positive

• None.

Negative

• Director sold 12,633 shares of NLCP common stock on 09/25/2025, reducing insider holdings to 27,681 shares.
• Filing indicates a broker-assisted disposition tracked by a Form 144 filed on 09/24/2025, signaling a planned public sale rather than a private transfer.

Insights

Securities Analyst

TL;DR: Director sold 12,633 NLCP shares at a weighted average $14.02; ownership now 27,681 shares.

The Form 4 documents a routine Section 16 sale by Director David L. Weinstein executed 09/25/2025 totaling 12,633 shares at a reported weighted-average price of $14.02, with the disclosed intraday price range $14.00–$14.10. A Form 144 filing on 09/24/2025 indicates the sale was pre-noted as a broker-assisted disposition. For investors, this is a disclosure of insider liquidity rather than new operational information; absent other context it does not, by itself, imply a material change to company fundamentals.

Corporate Governance Expert

TL;DR: Insider sale reported and properly disclosed via Form 144 and Form 4; no additional corporate actions disclosed.

The filing shows compliance with Section 16 reporting: a Form 144 was filed prior to the sale and the Form 4 was timely submitted and signed by an attorney-in-fact. The report lists the seller as a director and shows remaining beneficial ownership of 27,681 shares. From a governance perspective, this is a standard disclosure of a director liquidity event; the filing contains the necessary documentation but does not provide rationale for the sale.

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
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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).

1. Name and Address of Reporting Person^*

Weinstein David L.

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/25/2025

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
Common Stock, par value $0.01 per share	09/25/2025		S		12,633	D	$14.02(1)	27,681	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. The Reporting Person undertakes to provide to NewLake Capital Partners, Inc. (the "Issuer"), any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote in this Form 4. The reported price above reflects the weighted average, rounded to the nearest hundredth. On September 25, 2025, the highest price at which shares were sold was $14.10, and the lowest price at which shares were sold was $14.00. On September 24, 2025, the Reporting Person filed with the Securities and Exchange Commission a Form 144 covering the sale of the Issuer's common stock reported in Table I.

Remarks:

	/s/ Lisa Meyer, attorney in fact	09/26/2025
	** 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.
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.

FAQ

What did NLCP director David L. Weinstein report on Form 4?

The Form 4 reports sale of 12,633 shares of NLCP common stock on 09/25/2025 at a weighted-average price of $14.02; beneficial ownership afterward is 27,681 shares.

What price range was disclosed for the NLCP shares sold?

The filing discloses a sale price range of $14.00 to $14.10, with the reported weighted-average price of $14.02.

Was a Form 144 associated with the sale of NLCP shares?

Yes, the reporting person filed a Form 144 on 09/24/2025 relating to the sale reported in this Form 4.

Who executed the Form 4 filing for NLCP insider activity?

The Form 4 was signed on behalf of the reporting person by Lisa Meyer, attorney-in-fact on 09/26/2025.

Does the Form 4 disclose any derivative transactions for NLCP?

No. Table II for derivative securities contains no reported transactions in this filing.