Pittman Paul A 4

What Happened Paul A. Pittman, Executive Chairman and Director of Farmland Partners, was granted 26,519 restricted shares of common stock on 2026-02-17 (Form 4 reported 2026-02-19). The grant price was $0.00 (compensation award). In addition, Pittman received two performance stock unit (PSU) awards, each for 3,806 target PSUs (derivative awards) on 2026-02-17. On 2026-02-18, 1,694 shares were forfeited (disposed) to satisfy tax withholding in connection with the vesting of restricted shares.

Key Details

• Transaction types: A = Award/Grant (26,519 restricted shares and two PSU grants of 3,806 target PSUs each); F = Tax withholding (1,694 shares forfeited).
• Dates and prices: Grants dated 2026-02-17 @ $0.00; forfeiture dated 2026-02-18 @ $0.00. Filing date: 2026-02-19 (timely).
• Shares owned after transaction: Not specified in the filing.
• Notable footnotes: Restricted shares vest ratably over the first three anniversaries of the grant (F1). Forfeiture satisfied tax obligations on vesting (F2). Some shares are held by PJAC Farmland Partners, LLC, an entity controlled by Pittman (F3). PSUs are contingent awards tied to absolute TSR (F4) and relative TSR vs. the MSCI US REIT Index (F5); PSU payout can range from 0% to 150% of target based on performance over a three-year period beginning December 31, 2025.
• Filing timeliness: Reported within standard Form 4 timing (filed two days after the primary grant date).

Context These transactions are compensation awards (restricted shares and PSUs), not open-market buys or sales. The restricted shares will vest over three years, and the PSUs only convert to stock if performance goals are met (they are contingent, not immediate shares). The small forfeiture was a routine tax-withholding action and does not necessarily indicate a change in sentiment.