Andrew C. Richardson - Jan 3, 2023 Form 4 Insider Report for Alpine Income Property Trust, Inc. (PINE)

Role: Director
Signature: /s/ Daniel E. Smith, attorney-in-fact for Andrew C. Richardson
Stock symbol: PINE
Transactions as of: Jan 3, 2023
Transactions value $: $16,237
Form type: 4
Date filed: 1/4/2023, 03:05 PM
Previous filing: Oct 4, 2022
Next filing: Apr 4, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PINE	Common Stock	Award	$16.2K	+860	+6.61%	$18.88	13.9K	Jan 3, 2023	Direct	F1

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

Explanation of Responses:

Id	Content
F1	These shares were issued to the Reporting Person in lieu of his 4th quarter 2022 director retainer fee of $12,500 and his board chairman fee of $3,750 pursuant to the Issuer's non-employee director compensation policy (the "Policy"). Pursuant to the Policy, the share price utilized to calculate the number of shares issued was the 20-day trailing average closing price as of the last day of the quarter, or $18.8800.

Content

These shares were issued to the Reporting Person in lieu of his 4th quarter 2022 director retainer fee of $12,500 and his board chairman fee of $3,750 pursuant to the Issuer's non-employee director compensation policy (the "Policy"). Pursuant to the Policy, the share price utilized to calculate the number of shares issued was the 20-day trailing average closing price as of the last day of the quarter, or $18.8800.