[Form 4] Alpine Income Property Trust, Inc Insider Trading Activity

Rhea-AI Filing Summary

Alpine Income Property Trust director Andrew C. Richardson reported a sale of 1,000 shares of the issuer's common stock on 08/27/2025 at a reported price of $15.00 per share. After the transaction he beneficially owned 17,968 shares, held directly. The Form 4 was signed by an attorney-in-fact on 08/29/2025. The filing discloses a routine insider disposition by a director and provides the current direct ownership shown on the form.

Insights

Securities Analyst

TL;DR: Director sold 1,000 shares at $15, reducing direct holdings to 17,968 shares; a routine, non-material insider sale.

The Form 4 documents a straightforward sale by a company director. The transaction type is coded as an S-sale and the price and post-transaction holdings are disclosed clearly. There is no related derivative activity reported and no indication this was part of a Rule 10b5-1 plan on the form. For investors, this is a routine insider sale disclosure rather than a company event affecting operations or financials.

Corporate Governance Expert

TL;DR: Disclosure meets Section 16 reporting requirements; sale appears routine with no additional governance concerns disclosed.

The filing identifies the reporting person as a director and confirms the sale reduced direct beneficial ownership to 17,968 shares. The Form 4 is signed by an attorney-in-fact, which is a common practice. Absent other contextual details (e.g., large percentage change, planned trading program disclosure), this is a standard compliance disclosure without material corporate governance implications.

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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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 FL 32114

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
08/27/2025

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	08/27/2025		S		1,000	D	$15	17,968	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:

	/s/ Daniel E. Smith, attorney-in-fact for Andrew C. Richardson	08/29/2025
	** 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 the Form 4 for PINE report?

The Form 4 reports that director Andrew C. Richardson sold 1,000 shares on 08/27/2025 at $15.00 per share.

How many shares does Andrew C. Richardson beneficially own after the sale?

After the reported sale he beneficially owned 17,968 shares, held directly.

What role does the reporting person hold at Alpine Income Property Trust (PINE)?

The form indicates the reporting person is a Director of the issuer.

Was this Form 4 signed and when?

Yes. The Form 4 was signed by an attorney-in-fact (Daniel E. Smith) on 08/29/2025.

Did the filing report any derivative transactions or a 10b5-1 plan?

No derivative transactions are reported on the form and there is no explicit indication on the form that the sale was made pursuant to a 10b5-1 plan.