Alpine Income (PINE) director granted 1,192 shares at $14.67

Rhea-AI Filing Summary

Rachel Elias Wein, a director of Alpine Income Property Trust, Inc. (PINE), reported the grant of 1,192 shares of common stock on 10/01/2025. The shares were issued as the equity component of her Q3 2025 quarterly retainer under the issuer's Non-Employee Director Compensation Policy and were valued at approximately $17,500. The share count was calculated using the 20-day trailing average closing price as of the last business day of the quarter, which the filer states was $14.67250 per share. After the issuance, the reporting person beneficially owned 12,909 shares. The Form 4 was signed by an attorney-in-fact on behalf of Ms. Wein on 10/03/2025.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Elias Wein Rachel

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, par value $0.01 per share	1,192	$14.6725	$17K

Holdings After Transaction: Common Stock, par value $0.01 per share — 12,909 shares (Direct)

Footnotes (1)

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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).

1. Name and Address of Reporting Person^*

Elias Wein Rachel

(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)
10/01/2025

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	10/01/2025		A		1,192	A	$14.6725(1)	12,909	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 her Q3 2025 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 $14.67250.

	/s/ Daniel E. Smith, attorney-in-fact for Rachel Elias Wein	10/03/2025
	** 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 transaction did PINE director Rachel Elias Wein report on Form 4?

She reported the acquisition of 1,192 shares of PINE common stock issued as director compensation on 10/01/2025.

How much were the shares for Rachel Elias Wein worth?

The equity component was valued at approximately $17,500, using a per-share price of $14.67250.

How many PINE shares does Rachel Elias Wein beneficially own after the transaction?

Following the reported issuance, she beneficially owned 12,909 shares.

Under what policy were the shares issued?

The shares were issued pursuant to the Issuer's Non-Employee Director Compensation Policy, adopted February 3, 2020 and last amended January 30, 2025.

Who signed the Form 4 filing for Rachel Elias Wein?

The Form 4 was signed by Daniel E. Smith, attorney-in-fact, on behalf of Rachel Elias Wein on 10/03/2025.