Cappell Anthony 4

What Happened

• Anthony Cappell, Chief Executive Officer of Chicago Atlantic Real Estate Finance, Inc. (REFI), was granted 37,099 restricted shares of common stock on April 20, 2026. The reported acquisition price is $0.00 (award/grant), so no cash was paid.
• This was a compensation award under the company's 2021 Omnibus Incentive Plan, not an open-market purchase or sale.

Key Details

• Transaction date: 2026-04-20; Form 4 filed: 2026-04-22 (filed within the SEC’s 2-business-day window).
• Transaction type/code: Award/Grant (A); shares granted: 37,099; reported price: $0.00.
• Vesting: The 37,099 restricted shares vest over three years — one-third after 12 months, one-third after 24 months, and one-third after 36 months (per award agreement).
• Shares owned after transaction: Not specified in the excerpt of the filing.
• Plan: Award made under the Chicago Atlantic Real Estate Finance, Inc. 2021 Omnibus Incentive Plan.

Context

• This is a compensation grant of restricted stock that vests over time; it is not an immediate purchase or sale and does not indicate an immediate change in market holdings available for sale.
• Such awards are common for executives as long-term incentive compensation; they typically align executive pay with shareholder interests as vesting completes.