Chicago Atlantic chair buys 145 shares at $10.67

Chicago Atlantic Real Estate Finance, Inc. (REFI) reported an insider purchase by Executive Chairman John Mazarakis.

Rhea-AI Filing Summary

Chicago Atlantic Real Estate Finance, Inc. (REFI) reported an insider purchase by Executive Chairman John Mazarakis. On 2026-08-21 he purchased 145 shares of common stock at $10.67 per share, bringing his direct holdings to 478,851 shares. He is also reported as having indirect holdings of 5,000 shares by his spouse and 31,524 shares through Joppa Seasoning, LLC, for which he disclaims beneficial ownership except to the extent of his pecuniary interest. The Rule 10b5-1 checkbox was not marked as being pursuant to a trading plan.

Insider Trade Summary

Net Buyer: 145 shares

Net Buy 3 txns

Insider Mazarakis John

Role Executive Chairman

Bought 145 shs ($2K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	145	$10.67	$2K
holding	Common Stock F1	--	--	--
holding	Common Stock F1	--	--	--

Holdings After Transaction: Common Stock — 478,851 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 (1)

1. F1. The reporting person disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest therein.

Key Figures

Shares purchased: 145 shares Purchase price per share: $10.67 per share Direct holdings after transaction: 478,851 shares +2 more

5 metrics

Shares purchased 145 shares Common Stock purchased on 2026-08-21

Purchase price per share $10.67 per share Common Stock purchase on 2026-08-21

Direct holdings after transaction 478,851 shares Common Stock directly owned by John Mazarakis following purchase

Indirect holdings by spouse 5,000 shares Common Stock held indirectly by spouse

Indirect holdings via Joppa Seasoning, LLC 31,524 shares Common Stock held indirectly through LLC interests

Key Terms

beneficial ownership, pecuniary interest, indirect

3 terms

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

"except to the extent of his pecuniary interest therein"

indirect financial

"Indirect ownership noted as By Spouse and through Joppa Seasoning, LLC"

FAQ

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

What did REFI Executive Chairman John Mazarakis report in this Form 4?

He reported a purchase of 145 REFI common shares on 2026-08-21 at $10.67 per share, increasing his direct holdings to 478,851 shares, plus reported indirect holdings through his spouse and an LLC.

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

After the 2026-08-21 purchase, John Mazarakis directly holds 478,851 shares of Chicago Atlantic Real Estate Finance, Inc. common stock, as reported in the Form 4.

What indirect REFI shareholdings are associated with John Mazarakis?

The filing lists 5,000 shares held indirectly by his spouse and 31,524 shares held indirectly through Joppa Seasoning, LLC. He disclaims beneficial ownership of these shares except to the extent of his pecuniary interest.

Was the REFI insider purchase made under a Rule 10b5-1 trading plan?

The document-level Rule 10b5-1 checkbox is unchecked, indicating the reported 145-share purchase of REFI common stock on 2026-08-21 was not affirmed as made pursuant to a Rule 10b5-1 trading plan.

What price did John Mazarakis pay per share for the REFI stock?

He purchased the REFI common stock at a price of $10.67 per share on 2026-08-21, as disclosed in the Form 4.

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

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Available on EDGAR 08/25/2026 - 05:17 PM EDT Accepted by SEC EDGAR 08/25/2026 - 05:16 PM EDT 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)
08/21/2026

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	08/21/2026		P		145	A	$10.67	478,851	D
Common Stock								5,000	I	By Spouse(1)
Common Stock								31,524	I	Held through ownership of interests in Joppa Seasoning, LLC(1)

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

	/s/ John Mazarakis	08/25/2026
	** 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)