Meyer Lisa 4

What Happened

• Lisa Meyer, CFO (also Treasurer & Secretary) of NewLake Capital Partners (NLCP), had performance stock units (PSUs) vest on January 22, 2026. The vesting converted into 5,092 common shares plus 1,693.9 derivative-related shares.
• Of those, 2,465 shares were withheld to satisfy tax withholding obligations (valued at $15.00/share, ~$36,975). Separately, 1,693.9 derivative shares were surrendered to the issuer for $15.00/share, generating $25,409 in cash. After these transactions, Meyer’s net increase in common shares from the vesting was 2,627 shares (5,092 acquired minus 2,465 withheld).

Key Details

• Transaction date: January 22, 2026. Filing date: February 18, 2026 (filed late).
• Prices/values: closing price used $15.00/share; tax-withheld shares 2,465 × $15 = $36,975; derivative disposition 1,693.9 × $15 = $25,409.
• Shares owned after transaction: not provided in the filing.
• Footnotes: (F1) Compensation Committee certified performance and approved PSU vesting for 2023–2025; (F2) PSUs convert 1-for-1 to common stock; (F3) shares withheld to pay taxes; (F4) dividend equivalent rights were settled in cash (amount converted using $15 closing price), reflected in the derivative entries.
• Timeliness: The Form 4 was filed 27 days after the transaction (appears late relative to the two-business-day rule).

Context

• This was a vesting/award event (not an open-market purchase). Withholding shares to cover taxes and cash settlement of dividend equivalents are routine administrative outcomes of PSU vesting and do not necessarily signal the insider’s view on the stock.
• The filing includes derivative-related entries tied to dividend equivalent settlement; effectively those derivative shares were settled/surrendered rather than retained as common stock.