Alpine Income Property Trust Inc 2025年度报告

Yes☐No☒Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the Securities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports),and (2)has been subject to such filing requirements for the past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that theregistrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule12b-2 of the Exchange Act. Large accelerated filer☐Accelerated filer☐Non-accelerated filer☒Smaller reporting company☒Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section13(a)of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registeredpublic accounting firm that prepared or issued its audit report.☐If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to § 240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Act).YES☐NO☒On June 30, 2025, the last business day of the Registrant’s most recently completed second fiscal quarter, the aggregate market valueof the Registrant’s common stock held by non-affiliates of the Registrant was $190,306,859 based on the closing sales price of theRegistrant’s common stock on such date as reported on the New York Stock Exchange. For purposes of this computation, all officers,directors and 10% beneficial owners of the Registrant’s common stock of which the Registrant is aware are deemed to be affiliates.Such determination should not be deemed to be an admission that such officers, directors or 10% beneficial owners are, in fact,affiliates of the Registrant. The number of shares of the registrant’s common stock outstanding on January29, 2026 was 15,088,574.DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s Proxy Statement for the 2026 Annual Meeting of Stockholders, which will be filed with theSecurities and Exchange Commission within 120days after the end of the registrant’s fiscal year ended December 31, 2025, areincorporated by reference in PartIII of this report. TABLE OF CONTENTS PARTI Item1.BUSINESSItem1A.RISK FACTORSItem1B.UNRESOLVED STAFF COMMENTSItem 1C.CYBERSECURITYItem2.PROPERTIESItem3.LEGAL PROCEEDINGSItem4.MINE SAFETY DISCLOSURES 3165252545454 PARTIIItem5.MARKET FOR REGISTRANT’S COMMON EQUITY, RELATEDSTOCKHOLDERMATTERS, AND ISSUER PURCHASES OF EQUITYSECURITIES54Item6.RESERVED55Item7.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIALCONDITION ANDRESULTS OF OPERATIONS55Item7A.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKETRISK66Item8.FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA66Item9.CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ONACCOUNTING AND FINANCIAL DISCLOSURE66Item9A.CONTROLS AND PROCEDURES67Item9B.OTHER INFORMATION68Item9C.DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENTINSPECTIONS68 PARTIIIDIRECTORS, EXECUTIVE OFFICERS, AND CORPORATE GOVERNANCE Item10.68Item11.EXECUTIVE COMPENSATION69Item12.SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS ANDMANAGEMENT AND RELATED STOCKHOLDER MATTERS69Item13.CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, ANDDIRECTOR INDEPENDENCE69Item14.PRINCIPAL ACCOUNTANT FEES AND SERVICES69 PARTIVEXHIBITS AND FINANCIAL STATEMENT SCHEDULES Item15.69SIGNATURES73 PARTI When we refer to “we,” “us,” “our,” “PINE,” or “the Company,” we mean Alpine Income PropertyTrust,Inc. and its consolidated subsidiaries. References to “Notesto the Financial Statements” refer to theNotesto the Consolidated Financial Statements of Alpine Income Property Trust,Inc. included in Item8 ofthis Annual Report on Form10-K. Special Note Regarding Forward-Look