[Form 4] Tejon Ranch Co. Insider Trading Activity

Rhea-AI Filing Summary

Tejon Ranch Co. (TRC) – Insider Form 4 Filing

Executive Vice President and Chief Financial Officer Brett A. Brown reported the sale of 5,356 common shares of Tejon Ranch Co. on 11 July 2025. The transaction was coded “S” (open-market sale) at a reported price of $18.55 per share. Following the transaction, the filing indicates 0 shares remain directly owned by the executive. No derivative security activity was reported.

The Form 4 was filed individually by the reporting person and confirms Mr. Brown’s status as an officer (Executive VP / CFO) of the issuer. No additional acquisitions, dispositions, or indirect holdings were disclosed.

Positive

• None.

Negative

• Executive VP & CFO sold 5,356 TRC shares at $18.55 on 07/11/2025, leaving zero direct ownership.

Insights

Securities Analyst

TL;DR: CFO sold entire 5,356-share stake at $18.55, leaving zero holdings – a negative insider signal.

The filing shows the company’s CFO completely exited his direct equity position, disposing of 5,356 shares in a single open-market sale on 11 July 2025. While the dollar value (~$99k) is modest relative to Tejon Ranch’s market capitalisation, the absence of any remaining shares by a top financial officer can be interpreted by investors as a lack of ongoing alignment with shareholder interests. No mitigating purchases or derivative awards were listed. Given the executive’s senior role and the clean-out nature of the sale, I classify the impact as modestly negative for sentiment, though not fundamentally material to cash flow or operations.

Corporate Governance Specialist

TL;DR: Full divestiture by a key officer raises governance and signalling questions; impact limited by transaction size.

From a governance viewpoint, insiders are free to manage personal portfolios, but complete liquidation by the CFO warrants attention. The filing does not reference a Rule 10b5-1 trading plan, which could have reduced signalling concerns. Still, the number of shares sold represents a small fraction of outstanding stock, so structural governance risk remains low. Investors may monitor future filings to see if ownership is rebuilt through equity grants or purchases.

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).

X

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^*

Brown Brett A

(Last) (First) (Middle)

P.O. BOX 1000

4436 LEBEC RD.

(Street)

LEBEC CA 93243

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
TEJON RANCH CO [ TRC ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Executive Vice President / CFO

3. Date of Earliest Transaction (Month/Day/Year)
07/11/2025

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
Tejon Ranch Co. Common Stock	07/11/2025		S		5,356	D	$18.55	0	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/Brett A. Brown	07/11/2025
	** 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 insider transaction did Tejon Ranch Co. (TRC) report on Form 4?

Executive VP/CFO Brett A. Brown sold 5,356 common shares on 11 July 2025.

At what price were the TRC shares sold?

The reported sale price was $18.55 per share.

How many TRC shares does the CFO own after the transaction?

The Form 4 shows 0 shares directly owned following the sale.

What is the executive’s position at Tejon Ranch Co.?

Brett A. Brown is the company’s Executive Vice President and Chief Financial Officer.

Was any derivative security activity disclosed in this Form 4?

No derivative securities were acquired or disposed of in this filing.