Lance K. Parker - 29 Dec 2025 Form 4 Insider Report for Alexander & Baldwin, Inc. (ALEX)

Role: Pres./Chief Executive Officer, Director
Signature: /s/ Lance K. Parker
Issuer symbol: ALEX
Transactions as of: 29 Dec 2025
Net transactions value: -$2,703,235
Form type: 4
Filing time: 30 Dec 2025, 18:27:41 UTC
Previous filing: 01 Aug 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Parker Lance K	Pres./Chief Executive Officer, Director	822 BISHOP STREET, HONOLULU	/s/ Lance K. Parker	30 Dec 2025	0001649613

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ALEX	Common Stock	Award	$0	+163,208	+73%	$0.000000	385,544	29 Dec 2025	Direct	F1
transaction	ALEX	Common Stock	Tax liability	$2,703,235	-130,465	-34%	$20.72	255,079	29 Dec 2025	Direct	F2

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

Explanation of Responses:

Id	Content
F1	Represents shares of the Issuer's common stock underlying performance share units ("PSUs") with performance periods ending in calendar years 2026 and 2027 (each at 90%) that were eligible to vest based on the Issuer's relative total shareholder return or financial metrics, as applicable, over the relevant performance period. On December 29, 2025, the Board of Directors of the Issuer accelerated the vesting of the PSUs based on a determination of current performance against the goals in order to mitigate the adverse impact to the Issuer and the reporting person of Section 280G of the Internal Revenue Code in connection with the transactions contemplated by that certain Agreement and Plan of Merger, dated December 8, 2025, by and among the Issuer, Tropic Purchaser LLC, a Delaware limited liability company ("Parent") and Tropic Merger Sub LLC, a Hawaii limited liability company and wholly owned subsidiary of Parent.
F2	Represents common stock withheld by the Issuer to cover tax withholding obligations arising from the vesting of previous grants of restricted stock units and performance share units.

Content

Represents shares of the Issuer's common stock underlying performance share units ("PSUs") with performance periods ending in calendar years 2026 and 2027 (each at 90%) that were eligible to vest based on the Issuer's relative total shareholder return or financial metrics, as applicable, over the relevant performance period. On December 29, 2025, the Board of Directors of the Issuer accelerated the vesting of the PSUs based on a determination of current performance against the goals in order to mitigate the adverse impact to the Issuer and the reporting person of Section 280G of the Internal Revenue Code in connection with the transactions contemplated by that certain Agreement and Plan of Merger, dated December 8, 2025, by and among the Issuer, Tropic Purchaser LLC, a Delaware limited liability company ("Parent") and Tropic Merger Sub LLC, a Hawaii limited liability company and wholly owned subsidiary of Parent.

Represents common stock withheld by the Issuer to cover tax withholding obligations arising from the vesting of previous grants of restricted stock units and performance share units.