FRANKLIN LAURA M 4

What Happened
Laura M. Franklin, a director of CTO Realty Growth, Inc. (CTO), received 599 shares as an award/compensation on July 1, 2026. The shares were issued in lieu of her Q2 2026 non-employee director retainer; the filing values the shares at $20.83450 each (20-day trailing average), for a total of approximately $12,480. This transaction is an award (code A) — a routine compensation issuance rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-07-01; transaction type: Award/Grant (A).
• Shares issued: 599 at $20.83450 per share (20-day trailing average); total value ≈ $12,480.
• Footnote: Shares were issued in lieu of a $12,500 Q2 2026 board retainer per the issuer’s Non‑Employee Director Compensation Policy.
• Footnote: The filing also notes 256.255 shares were acquired through the issuer’s dividend reinvestment plan since the reporting person’s prior Form 4 (Apr 2, 2026).
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Filing date / Period of report: 2026-07-01; no late filing flag indicated.

Context: Director awards issued in lieu of cash retainers are a common form of non-employee compensation and are typically routine. They reflect receipt of equity, not an open‑market purchase or sale; such awards do not by themselves indicate the insider’s market view.