Alpine Income Property Trust awards director 969 shares

The share count was calculated from the 20-day trailing average closing price as of the last business day of the calendar quarter.

Rhea-AI Filing Summary

Alpine Income Property Trust, Inc. director Andrew C. Richardson acquired 969 shares of common stock on October 1, 2026, as the equity component of his Q3 2026 quarterly retainer fee. The award used a share price of $18.0580 and had an approximate value of $17,500. Richardson held 9,394 shares directly after the award.

Insider Trade Summary

Grant/Award: 969 shares

Grant/Award 1 txn

Insider Richardson Andrew C

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, par value $0.01 per share F1	969	$18.058	$17K

Holdings After Transaction: Common Stock, par value $0.01 per share — 9,394 shares (Direct)

Footnotes (1)

1. F1. These shares were issued to the Reporting Person as the equity component of his Q3 2026 quarterly retainer fee (the value of such component being approximately $17,500), pursuant to the Issuer's Non-Employee Director Compensation Policy (the "Policy") adopted by the Issuer's board of directors on February 3, 2020 (last amended January 30, 2025). Pursuant to the Policy, the share price utilized to calculate the number of shares issued was the 20-day trailing average closing price as of the last business day of the calendar quarter, or $18.0580.

Key Figures

Shares acquired: 969 shares Share price used: $18.0580 per share Equity component value: Approximately $17,500 +1 more

4 metrics

Shares acquired 969 shares October 1, 2026; equity component of the Q3 2026 quarterly retainer fee

Share price used $18.0580 per share Used to calculate the shares issued

Equity component value Approximately $17,500 Q3 2026 quarterly retainer fee

Direct shares after transaction 9,394 shares After the October 1, 2026 award

Key Terms

20-day trailing average closing price, Non-Employee Director Compensation Policy, equity component

3 terms

20-day trailing average closing price financial

"the 20-day trailing average closing price as of the last business day"

Non-Employee Director Compensation Policy financial

"pursuant to the Issuer's Non-Employee Director Compensation Policy"

equity component financial

"as the equity component of his Q3 2026 quarterly retainer fee"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares did PINE director Andrew C. Richardson acquire?

Andrew C. Richardson acquired 969 shares of Alpine Income Property Trust, Inc. common stock on October 1, 2026, as the equity component of his Q3 2026 quarterly retainer fee.

How was the PINE director's share award price calculated?

The $18.0580 share price used to calculate the award was the 20-day trailing average closing price as of the last business day of the calendar quarter.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/02/2026 - 04:30 PM Accepted by SEC EDGAR 10/02/2026 - 04:30 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^*

Richardson Andrew C

(Last) (First) (Middle)

1140 N. WILLIAMSON BLVD., SUITE 140

(Street)

DAYTONA BEACH FLORIDA 32114

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Alpine Income Property Trust, Inc. [ PINE ]

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)
10/01/2026

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	10/01/2026		A		969	A	$18.058(1)	9,394	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. These shares were issued to the Reporting Person as the equity component of his Q3 2026 quarterly retainer fee (the value of such component being approximately $17,500), pursuant to the Issuer's Non-Employee Director Compensation Policy (the "Policy") adopted by the Issuer's board of directors on February 3, 2020 (last amended January 30, 2025). Pursuant to the Policy, the share price utilized to calculate the number of shares issued was the 20-day trailing average closing price as of the last business day of the calendar quarter, or $18.0580.

	/s/ Daniel E. Smith, attorney-in-fact for Andrew C. Richardson	10/02/2026
	** 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)