[Form 4] Seaport Entertainment Group Inc. Insider Trading Activity

Rhea-AI Filing Summary

Seaport Entertainment Group Inc. (SEG) reported a Form 4 showing that director Michael Anthony Crawford was granted 998 shares of common stock on 09/16/2025 at no cash price as part of the company’s 2024 Equity Incentive Plan under its Independent Director Compensation Program. Following the grant, Mr. Crawford beneficially owns 4,897 shares directly. The filing was submitted by an attorney-in-fact and contains no exercise prices or derivative transactions; it reflects a routine equity grant to a director as compensation.

Positive

• Director alignment: Grant increases the reporting person’s equity stake, aligning interests with shareholders.
• Transparency: Transaction was reported on Form 4 and includes the plan citation, supporting clear disclosure.

Negative

• Potential dilution: Issuing shares under the equity plan causes incremental dilution, though the amount appears small.
• No material size disclosed: The filing does not state the total shares authorized under the plan or pro rata impact, limiting assessment of materiality.

Insights

Corporate Governance Expert

TL;DR: Routine director equity grant increases director alignment with shareholders but appears immaterial to company valuation.

The Form 4 documents a standard independent director compensation award of 998 common shares granted under the 2024 Equity Incentive Plan. This type of issuance is commonly used to align non-employee directors with shareholder interests. The filing shows direct beneficial ownership of 4,897 shares after the grant and no derivative securities reported. There is no indication of atypical timing, cash consideration, or related-party sales, and the transaction does not by itself signal governance changes.

Securities Analyst

TL;DR: Small, non-cash equity award to a director; unlikely to be material to SEG’s capital structure or earnings.

The disclosure indicates an acquisition code 'A' of 998 shares at $0 on 09/16/2025, consistent with compensation rather than a market purchase. Total direct holdings post-transaction are 4,897 shares. There are no reported derivative holdings, prices, or additional transactions. From a securities perspective, this is a routine insider filing with limited market impact based on the disclosed amounts.

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

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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^*

Crawford Michael Anthony

(Last) (First) (Middle)

199 WATER STREET

28TH FLOOR

(Street)

NEW YORK NY 10038

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Seaport Entertainment Group Inc. [ SEG ]

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)
09/16/2025

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	09/16/2025		A		998(1)	A	$0	4,897	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. The common stock was granted under the Seaport Entertainment Group Inc. 2024 Equity Incentive Plan, pursuant to the Seaport Entertainment Group Inc. Independent Director Compensation Program.

	/s/ Lucy Fato, Attorney-in-Fact	09/17/2025
	** 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.
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FAQ

What did Seaport Entertainment (SEG) disclose in the Form 4 for Michael Anthony Crawford?

The Form 4 shows a grant of 998 common shares on 09/16/2025 at $0 under the 2024 Equity Incentive Plan; post-grant direct ownership is 4,897 shares.

Was the 998-share transaction a purchase or compensation?

The transaction is coded as an acquisition under the Independent Director Compensation Program, indicating it was compensation-based (grant), not a market purchase.

Does the filing report any derivative securities or option exercises for SEG insider?

No. Table II for derivative securities contains no reported transactions; only the non-derivative grant of common stock is reported.

Who filed the Form 4 on behalf of the reporting person?

The form was signed and filed by Lucy Fato, Attorney-in-Fact on 09/17/2025 on behalf of the reporting person.

How many shares does Michael Anthony Crawford own after the grant?

Following the reported transaction, Mr. Crawford beneficially owns 4,897 shares directly.