Filing Summary
Business Context and Reporting Period
Alpine Income Property Trust, Inc. filed a Form 8-K under Item 5.02 on February 28, 2024, reporting an executive leadership change effective April 1, 2024. The report date and earliest event date were February 26, 2024. Alpine is externally managed by Alpine Income Property Manager, LLC, whose sole member is CTO Realty Growth, Inc.
Executive Change
- Matthew M. Partridge, Senior Vice President, Chief Financial Officer and Treasurer of Alpine, notified the company of his resignation effective April 1, 2024.
- Mr. Partridge also intends to resign from the corresponding positions at CTO Realty Growth, Inc., effective April 1, 2024.
- He is expected to remain Alpine’s principal financial officer until the effective resignation date.
- CTO has begun searching for a successor who is expected to serve as CFO of both CTO and Alpine.
Financial Metrics and Liquidity
The filing does not provide revenue, profit, cash flow, margin, debt, liquidity, operating, or other financial performance metrics.
Material Changes Versus the Prior Comparable Period
The filing does not present comparative-period financial information. The material reported change is the planned departure of the company’s CFO and Treasurer and the related search for a successor.
Guidance, Outlook, Risks, and Unusual Items
- Mr. Partridge stated that his resignation is not the result of any dispute or disagreement with Alpine’s principles, financial statements, or disclosures.
- The filing provides no financial guidance or forecast.
- The principal contingency is the identification and appointment of a new CFO for both CTO and Alpine before or upon the April 1, 2024 effective date.
- A press release dated February 28, 2024 was furnished under Regulation FD as Exhibit 99.1 and is not deemed filed for purposes of Section 18 of the Exchange Act.
Investor Verification Items
- Verify the appointment, qualifications, and effective date of the successor CFO.
- Confirm whether the transition affects financial reporting, disclosure controls, or the company’s external management arrangements.
- Review subsequent filings for any additional information regarding Mr. Partridge’s departure or the CFO search.
- Review Alpine’s periodic financial statements separately, as this 8-K contains no financial performance data.