JOHNSON JOYCE 4

What Happened
Joyce Johnson, a director of NewLake Capital Partners, Inc. (NLCP), was granted 4,035 restricted stock units (RSUs) on June 4, 2026. The grant was valued using the June 4 closing price of $14.87, giving an aggregate value of approximately $60,000. Separately, 482 dividend-equivalent units tied to these RSUs were recorded and then settled for cash to the issuer at $14.87 per share, yielding $7,167.

Key Details

• Transaction date: June 4, 2026. Grant price for valuation: $14.87. RSU grant value: ~$60,000 (4,035 RSUs × $14.87). Dividend-equivalent settlement: 482 units → $7,167.
• Type of transactions reported: A = Award/Grant (4,035 RSUs and 482 derivative units); D = Disposition to issuer (482 derivative units settled for cash).
• Vesting: The 4,035 RSUs vest 100% on the earlier of June 4, 2027 or the Issuer’s 2027 annual meeting, subject to continued service (Footnote F1).
• Dividend equivalents: Dividend-equivalent rights accrued on the RSUs were settled in cash on June 4, 2026; the 482-unit figure was derived by dividing the accrued cash amount by the $14.87 closing price (Footnote F2).
• Shares owned after transaction: Not specified in the filing.
• Filing timeliness: Report filed June 8, 2026 for a June 4 transaction — appears timely (Form 4 due within two business days).

Context
This was an equity compensation grant and a routine cash settlement of accrued dividend equivalents, not an open-market purchase or sale by the director. RSU awards are standard board compensation and do not necessarily signal a change in insider sentiment. The derivative line reflects the cash settlement of dividend equivalents rather than an options exercise or market sale.