Chicago Atlantic chair buys 25K shares at $10.25

Chicago Atlantic Real Estate Finance, Inc. (REFI) director and Executive Chairman John Mazarakis reported purchasing 25,000 shares of common stock on August 17, 2026 at a weighted-average price of $10.25 per share, in multiple trades between $10.17 and $10.29.

Rhea-AI Filing Summary

Chicago Atlantic Real Estate Finance, Inc. (REFI) director and Executive Chairman John Mazarakis reported purchasing 25,000 shares of common stock on August 17, 2026 at a weighted-average price of $10.25 per share, in multiple trades between $10.17 and $10.29. Following this open-market purchase, he directly holds 478,706 shares. He also reports indirect holdings of 5,000 shares held by his spouse and 31,524 shares held through interests in Joppa Seasoning, LLC, for which he disclaims beneficial ownership except to the extent of his pecuniary interest.

Insider Trade Summary

Net Buyer: 25,000 shares

Net Buy 3 txns

Insider Mazarakis John

Role Executive Chairman

Bought 25,000 shs ($256K)

Type	Security	Shares	Price	Value
Purchase	Common Stock F1	25,000	$10.253	$256K
holding	Common Stock F2	--	--	--
holding	Common Stock F2	--	--	--

Holdings After Transaction: Common Stock — 478,706 shares (Direct); Common Stock — 5,000 shares (Indirect, By Spouse); Common Stock — 31,524 shares (Indirect, Held through ownership of interests in Joppa Seasoning, LLC)

Footnotes (2)

1. F1. The price reported reflects the weighted-average purchase price from several discrete transactions executed throughout the Transaction Date at prices that ranged from $10.17 to $10.29 per share. Upon request, the Reporting Person has agreed to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission full information regarding the number of shares purchased at each price within the range set forth in this footnote.
2. F2. The reporting person disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest therein.

Key Figures

Shares purchased: 25,000 shares Weighted-average purchase price: $10.253 per share Direct holdings after transaction: 478,706 shares +3 more

6 metrics

Shares purchased 25,000 shares Common Stock purchased on August 17, 2026 in open-market transactions

Weighted-average purchase price $10.253 per share Weighted-average price for the 25,000-share purchase on August 17, 2026

Direct holdings after transaction 478,706 shares Direct ownership of REFI common stock following the reported purchase

Indirect holdings by spouse 5,000 shares Indirect ownership reported as held by spouse

Indirect holdings via Joppa Seasoning, LLC 31,524 shares Indirect ownership held through interests in Joppa Seasoning, LLC

Price range of trades $10.17–$10.29 per share Range of per-share prices for the trades comprising the 25,000-share purchase

Key Terms

weighted-average purchase price, beneficial ownership, pecuniary interest

3 terms

weighted-average purchase price financial

"The price reported reflects the weighted-average purchase price from several discrete transactions"

beneficial ownership financial

"The reporting person disclaims beneficial ownership of these shares"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

pecuniary interest financial

"disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest"

FAQ

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

What insider transaction did REFI’s Executive Chairman John Mazarakis report?

John Mazarakis reported buying 25,000 REFI common shares on August 17, 2026 in open-market transactions at a weighted-average price of $10.25 per share, with individual trade prices ranging from $10.17 to $10.29.

At what price did John Mazarakis purchase REFI stock on August 17, 2026?

He purchased the shares at a weighted-average price of $10.25 per share, based on several trades executed that day at prices between $10.17 and $10.29 per share, as disclosed in the transaction footnote.

How many REFI shares does John Mazarakis hold directly after this transaction?

After the reported purchase, John Mazarakis directly holds 478,706 shares of Chicago Atlantic Real Estate Finance, Inc. common stock, according to the post-transaction ownership figure in the Form 4 filing.

What indirect REFI holdings related to John Mazarakis are disclosed in the Form 4?

The filing reports 5,000 shares held indirectly by his spouse and 31,524 shares held indirectly through interests in Joppa Seasoning, LLC. Mazarakis disclaims beneficial ownership of these indirect holdings except to the extent of his pecuniary interest.

Was the August 17, 2026 REFI stock purchase under a Rule 10b5-1 trading plan?

The filing’s Rule 10b5-1 checkbox is not marked as an affirmative 10b5-1 plan. The transaction is characterized as an open-market or private purchase, with no footnote indicating execution under a pre-arranged trading plan.

What does the Form 4 say about John Mazarakis’s beneficial ownership of indirect REFI shares?

The Form 4 states that Mazarakis disclaims beneficial ownership of the indirectly held shares (spouse and Joppa Seasoning, LLC), except to the extent of his pecuniary interest, limiting his reported economic claim on those positions.

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

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Available on EDGAR 08/19/2026 - 05:23 PM Accepted by SEC EDGAR 08/19/2026 - 05:23 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^*

Mazarakis John

(Last) (First) (Middle)

C/O CHICAGO ATLANTIC REAL ESTATE FINANCE

1680 MICHIGAN AVENUE, SUITE 700

(Street)

MIAMI BEACH FLORIDA 33139

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Chicago Atlantic Real Estate Finance, Inc. [ REFI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Executive Chairman

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/17/2026

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	08/17/2026		P		25,000	A	$10.253(1)	478,706	D
Common Stock								5,000	I	By Spouse(2)
Common Stock								31,524	I	Held through ownership of interests in Joppa Seasoning, LLC(2)

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 price reported reflects the weighted-average purchase price from several discrete transactions executed throughout the Transaction Date at prices that ranged from $10.17 to $10.29 per share. Upon request, the Reporting Person has agreed to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission full information regarding the number of shares purchased at each price within the range set forth in this footnote.

2. The reporting person disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest therein.

	/s/ John Mazarakis	08/19/2026
	** 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)