DUGAN GORDON F 4

What Happened

• Gordon F. Dugan, a director of NewLake Capital Partners, Inc. (NLCP), received an award of 6,052 restricted stock units (RSUs) on June 4, 2026 valued at $14.87 per share, a total grant value of $89,993. In addition, 722.9 dividend‑equivalent units related to RSUs were recorded and cash‑settled that same day for $10,750 (722.9 × $14.87). The RSU award is reported as an acquisition (grant) and the dividend equivalent settlement is shown as a derivative disposition to the issuer.

Key Details

• Transaction date(s): June 4, 2026. Price used for valuation: $14.87 (closing price).
• Primary award: 6,052 RSUs acquired (total value $89,993).
• Dividend equivalents: 722.9 units acquired at $0.00 (derivative) and immediately disposed to the issuer for $10,750 (cash settlement).
• Shares owned after the transaction: not disclosed in the Form 4.
• Footnotes: F1 — RSUs granted under the 2021 Equity Incentive Plan; F2 — dividend equivalent rights accrued and were cash‑settled per plan terms.
• Filing timeliness: Report filed June 8, 2026 for a June 4 transaction (filed late under Form 4 timing rules).

Context

• This was an equity compensation award (not an open‑market purchase or sale) — awards are routine for director compensation and do not necessarily signal a personal buy/sell decision. The derivative entries reflect dividend equivalents being converted to cash and paid to the director, not a market sale.