PATRICK J. BARTELS JR - 10 Dec 2025 Form 4 Insider Report for Millrose Properties, Inc. (MRP)

Role: Director
Signature: /s/ Rachel Presa attorney-in-fact
Issuer symbol: MRP
Transactions as of: 10 Dec 2025
Net transactions value: $0
Form type: 4
Filing time: 12 Dec 2025, 16:29:02 UTC
Previous filing: 21 Nov 2025
Next filing: 06 Feb 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
BARTELS PATRICK J JR	Director	C/O MILLROSE PROPERTIES, INC., 600 BRICKELL AVENUE, SUITE 1400, MIAMI	/s/ Rachel Presa attorney-in-fact	12 Dec 2025	0001581475

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MRP	Class A Common Stock	Award	$0	+6,451	+21%	$0.000000	37,111	10 Dec 2025	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On December 10, 2025, Millrose Properties, Inc. (the "Issuer") granted 6,451 restricted stock units ("RSUs") to the reporting person under the Issuer's 2024 Omnibus Incentive Plan. Such RSUs vest into shares of Class A Common Stock of the Issuer on a 1-for-1 basis. 50% of the RSUs will vest upon the earlier to occur of (i) April 3, 2026 and (ii) the first annual stockholder meeting to follow the date of grant and the remaining 50% of the RSUs will vest upon the earlier of (i) April 3, 2027 and (ii) the date of the Issuer's second annual stockholder meeting to follow the date of grant, subject to the reporting person's continuous service as a director of the Issuer from the date of the grant through the vesting dates.

Content

On December 10, 2025, Millrose Properties, Inc. (the "Issuer") granted 6,451 restricted stock units ("RSUs") to the reporting person under the Issuer's 2024 Omnibus Incentive Plan. Such RSUs vest into shares of Class A Common Stock of the Issuer on a 1-for-1 basis. 50% of the RSUs will vest upon the earlier to occur of (i) April 3, 2026 and (ii) the first annual stockholder meeting to follow the date of grant and the remaining 50% of the RSUs will vest upon the earlier of (i) April 3, 2027 and (ii) the date of the Issuer's second annual stockholder meeting to follow the date of grant, subject to the reporting person's continuous service as a director of the Issuer from the date of the grant through the vesting dates.