MAUI LAND & PINEAPPLE CO INC 8-K

What Happened
Maui Land & Pineapple Co., Inc. (MLP) announced on an 8‑K (filed May 19, 2026) that it entered into a non‑binding Memorandum of Understanding (MOU) with the County of Maui to negotiate the sale or lease of certain real property and water infrastructure assets in West Maui and Upcountry Maui. The County issued a press release dated May 18, 2026 outlining the MOU. The company says the MOU follows more than a year of discussions with prospective buyers and a board sub‑committee formed Sept. 10, 2025, led by board member Ken Ota, to explore strategic sale of water‑related assets.

Key Details

• MOU is non‑binding and requires specified conditions to be met before any definitive agreement; no assurance a transaction will occur.
• Assets identified in the MOU are expected to be valued based on professional appraisals.
• The County of Maui has initiated budget allocations toward a potential purchase.
• Consideration to MLP may include monetary payment plus non‑monetary items such as water credits and land‑use support intended to help develop housing on MLP’s West Maui and Upcountry landholdings.

Why It Matters
This MOU signals a formal step in MLP’s effort to sell or lease certain water and land assets and to unlock value from its property portfolio. For investors, the agreement could lead to future cash proceeds or non‑cash benefits (e.g., water credits or land‑use facilitation) and may affect the company’s ability to activate land for housing. However, because the MOU is non‑binding and subject to conditions, there is no certainty a definitive transaction will be completed. The disclosure was furnished under Regulation FD (Item 7.01) and the County’s press release was included as an exhibit.