NLOP

SEC source: 0001952976-25-000051 · wk-form4_1758831322.xml · nonDerivative · entry 1

PINOLA RICHARD J · CIK 0001099662 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 13,220.74

F1 · price: This transaction was executed in multiple trades at prices ranging from $29.435 to $29.600. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

F2 · balance_after: Includes 44.74 shares previously acquired under a dividend reinvestment program.

SEC source: 0001952976-24-000047 · wk-form4_1730841334.xml · derivative · entry 2

PINOLA RICHARD J · CIK 0001099662 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 136 shares

Expires not disclosed

F1 · derivative.exercise_price: The dividend equivalents were converted into, and paid in the form of, shares of the issuer's common stock on a one-for-one basis in connection with the vesting of restricted stock units to which the dividend equivalents relate.

F1 · shares: The dividend equivalents were converted into, and paid in the form of, shares of the issuer's common stock on a one-for-one basis in connection with the vesting of restricted stock units to which the dividend equivalents relate.

F1 · derivative.exercise_date: The dividend equivalents were converted into, and paid in the form of, shares of the issuer's common stock on a one-for-one basis in connection with the vesting of restricted stock units to which the dividend equivalents relate.

F1 · derivative.expiration_date: The dividend equivalents were converted into, and paid in the form of, shares of the issuer's common stock on a one-for-one basis in connection with the vesting of restricted stock units to which the dividend equivalents relate.

F1 · derivative.underlying_shares: The dividend equivalents were converted into, and paid in the form of, shares of the issuer's common stock on a one-for-one basis in connection with the vesting of restricted stock units to which the dividend equivalents relate.

SEC source: 0001952976-24-000047 · wk-form4_1730841334.xml · nonDerivative · entry 1

PINOLA RICHARD J · CIK 0001099662 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 12,164

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · shares: The dividend equivalents were converted into, and paid in the form of, shares of the issuer's common stock on a one-for-one basis in connection with the vesting of restricted stock units to which the dividend equivalents relate.

SEC source: 0001952976-24-000048 · wk-form4_1730841361.xml · derivative · entry 2

Hansing Axel K.A. · CIK 0001523545 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 136 shares

Expires not disclosed

F1 · derivative.exercise_price: The dividend equivalents were converted into, and paid in the form of, shares of the issuer's common stock on a one-for-one basis in connection with the vesting of restricted stock units to which the dividend equivalents relate.

F1 · shares: The dividend equivalents were converted into, and paid in the form of, shares of the issuer's common stock on a one-for-one basis in connection with the vesting of restricted stock units to which the dividend equivalents relate.

F1 · derivative.exercise_date: The dividend equivalents were converted into, and paid in the form of, shares of the issuer's common stock on a one-for-one basis in connection with the vesting of restricted stock units to which the dividend equivalents relate.

F1 · derivative.expiration_date: The dividend equivalents were converted into, and paid in the form of, shares of the issuer's common stock on a one-for-one basis in connection with the vesting of restricted stock units to which the dividend equivalents relate.

F1 · derivative.underlying_shares: The dividend equivalents were converted into, and paid in the form of, shares of the issuer's common stock on a one-for-one basis in connection with the vesting of restricted stock units to which the dividend equivalents relate.

SEC source: 0001952976-24-000048 · wk-form4_1730841361.xml · nonDerivative · entry 1

Hansing Axel K.A. · CIK 0001523545 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 10,817

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · shares: The dividend equivalents were converted into, and paid in the form of, shares of the issuer's common stock on a one-for-one basis in connection with the vesting of restricted stock units to which the dividend equivalents relate.

SEC source: 0001952976-24-000049 · wk-form4_1730841389.xml · derivative · entry 2

Hoysradt Jean · CIK 0001603871 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 136 shares

Expires not disclosed

F1 · derivative.exercise_price: The dividend equivalents were converted into, and paid in the form of, shares of the issuer's common stock on a one-for-one basis in connection with the vesting of restricted stock units to which the dividend equivalents relate.

F1 · shares: The dividend equivalents were converted into, and paid in the form of, shares of the issuer's common stock on a one-for-one basis in connection with the vesting of restricted stock units to which the dividend equivalents relate.

F1 · derivative.exercise_date: The dividend equivalents were converted into, and paid in the form of, shares of the issuer's common stock on a one-for-one basis in connection with the vesting of restricted stock units to which the dividend equivalents relate.

F1 · derivative.expiration_date: The dividend equivalents were converted into, and paid in the form of, shares of the issuer's common stock on a one-for-one basis in connection with the vesting of restricted stock units to which the dividend equivalents relate.

F1 · derivative.underlying_shares: The dividend equivalents were converted into, and paid in the form of, shares of the issuer's common stock on a one-for-one basis in connection with the vesting of restricted stock units to which the dividend equivalents relate.

SEC source: 0001952976-24-000049 · wk-form4_1730841389.xml · nonDerivative · entry 1

Hoysradt Jean · CIK 0001603871 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 11,032

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · shares: The dividend equivalents were converted into, and paid in the form of, shares of the issuer's common stock on a one-for-one basis in connection with the vesting of restricted stock units to which the dividend equivalents relate.

SEC source: 0001952976-24-000023 · wk-form4_1709937756.xml · nonDerivative · entry 1

PINOLA RICHARD J · CIK 0001099662 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 12,028

SEC source: 0001952976-24-000010 · wk-form4_1706045022.xml · derivative · entry 2

PINOLA RICHARD J · CIK 0001099662 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 136

Underlying: Common Stock · 136 shares

Expires 2024-11-01

F2 · derivative.exercise_price: Represents dividend equivalent rights accrued in connection with the Share Dividend on restricted stock units issued on November 2, 2023. Each dividend equivalent is the economic equivalent of one share of NLOP.

F2 · shares: Represents dividend equivalent rights accrued in connection with the Share Dividend on restricted stock units issued on November 2, 2023. Each dividend equivalent is the economic equivalent of one share of NLOP.

F2 · derivative.underlying_shares: Represents dividend equivalent rights accrued in connection with the Share Dividend on restricted stock units issued on November 2, 2023. Each dividend equivalent is the economic equivalent of one share of NLOP.

SEC source: 0001952976-24-000010 · wk-form4_1706045022.xml · nonDerivative · entry 1

PINOLA RICHARD J · CIK 0001099662 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 9,962

F1 · kind: On December 8, 2023, the Issuer declared a dividend of $0.34 per share to all shareholders of record as of the close of business on December 18, 2023 (the "Share Dividend"). Shareholders could elect to receive their dividend in the form of cash or shares. The aggregate amount of cash to be distributed by the Issuer was limited to a maximum of 20% of the total dividend. This Reporting Person received 100% of their dividend in shares based on their election. The value of the shares to be distributed is based upon the volume weighted average trading prices of the Issuer's common shares on the New York Stock Exchange between January 18, 2024 and January 19, 2024 which was $23.82. The dividend is payable on January 29, 2024.

SEC source: 0001952976-24-000013 · wk-form4_1706045119.xml · nonDerivative · entry 1

PARK JOHN J · CIK 0001054812 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 32,439

F1 · kind: On December 8, 2023, the Issuer declared a dividend of $0.34 per share to all shareholders of record as of the close of business on December 18, 2023 (the "Share Dividend"). Shareholders could elect to receive their dividend in the form of cash or shares. The aggregate amount of cash to be distributed by the Issuer was limited to a maximum of 20% of the total dividend. This Reporting Person received 100% of their dividend in shares based on their election. The value of the shares to be distributed is based upon the volume weighted average trading prices of the Issuer's common shares on the New York Stock Exchange between January 18, 2024 and January 19, 2024 which was $23.82. The dividend is payable on January 29, 2024.

SEC source: 0001952976-24-000015 · wk-form4_1706045204.xml · derivative · entry 2

Hansing Axel K.A. · CIK 0001523545 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 136

Underlying: Common Stock · 136 shares

Expires 2024-11-01

F2 · derivative.exercise_price: Represents dividend equivalent rights accrued in connection with the Share Dividend on restricted stock units issued on November 2, 2023. Each dividend equivalent is the economic equivalent of one share of NLOP.

F2 · shares: Represents dividend equivalent rights accrued in connection with the Share Dividend on restricted stock units issued on November 2, 2023. Each dividend equivalent is the economic equivalent of one share of NLOP.

F2 · derivative.underlying_shares: Represents dividend equivalent rights accrued in connection with the Share Dividend on restricted stock units issued on November 2, 2023. Each dividend equivalent is the economic equivalent of one share of NLOP.

SEC source: 0001952976-24-000015 · wk-form4_1706045204.xml · nonDerivative · entry 1

Hansing Axel K.A. · CIK 0001523545 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 10,681

F1 · kind: On December 8, 2023, the Issuer declared a dividend of $0.34 per share to all shareholders of record as of the close of business on December 18, 2023 (the "Share Dividend"). Shareholders could elect to receive their dividend in the form of cash or shares. The aggregate amount of cash to be distributed by the Issuer was limited to a maximum of 20% of the total dividend. This Reporting Person received 100% of their dividend in shares based on their election. The value of the shares to be distributed is based upon the volume weighted average trading prices of the Issuer's common shares on the New York Stock Exchange between January 18, 2024 and January 19, 2024 which was $23.82. The dividend is payable on January 29, 2024.

SEC source: 0001952976-24-000011 · wk-form4_1706045060.xml · nonDerivative · entry 2

Fox Jason E. · CIK 0001523546 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Indirect · Son's Trust

Disclosed balance after: 76

F1 · kind: On December 8, 2023, the Issuer declared a dividend of $0.34 per share to all shareholders of record as of the close of business on December 18, 2023 (the "Share Dividend"). Shareholders could elect to receive their dividend in the form of cash or shares. The aggregate amount of cash to be distributed by the Issuer was limited to a maximum of 20% of the total dividend. This Reporting Person received 100% of their dividend in shares based on their election. The value of the shares to be distributed is based upon the volume weighted average trading prices of the Issuer's common shares on the New York Stock Exchange between January 18, 2024 and January 19, 2024 which was $23.82. The dividend is payable on January 29, 2024.

F2 · balance_after: Includes 2 shares previously acquired under a dividend reinvestment program.

SEC source: 0001952976-24-000011 · wk-form4_1706045060.xml · nonDerivative · entry 1

Fox Jason E. · CIK 0001523546 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 36,147

F1 · kind: On December 8, 2023, the Issuer declared a dividend of $0.34 per share to all shareholders of record as of the close of business on December 18, 2023 (the "Share Dividend"). Shareholders could elect to receive their dividend in the form of cash or shares. The aggregate amount of cash to be distributed by the Issuer was limited to a maximum of 20% of the total dividend. This Reporting Person received 100% of their dividend in shares based on their election. The value of the shares to be distributed is based upon the volume weighted average trading prices of the Issuer's common shares on the New York Stock Exchange between January 18, 2024 and January 19, 2024 which was $23.82. The dividend is payable on January 29, 2024.

SEC source: 0001952976-24-000008 · wk-form4_1706044942.xml · derivative · entry 2

Hoysradt Jean · CIK 0001603871 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 136

Underlying: Common Stock · 136 shares

Expires 2024-11-01

F2 · derivative.exercise_price: Represents dividend equivalent rights accrued in connection with the Share Dividend on restricted stock units issued on November 2, 2023. Each dividend equivalent is the economic equivalent of one share of NLOP.

F2 · shares: Represents dividend equivalent rights accrued in connection with the Share Dividend on restricted stock units issued on November 2, 2023. Each dividend equivalent is the economic equivalent of one share of NLOP.

F2 · derivative.underlying_shares: Represents dividend equivalent rights accrued in connection with the Share Dividend on restricted stock units issued on November 2, 2023. Each dividend equivalent is the economic equivalent of one share of NLOP.

SEC source: 0001952976-24-000008 · wk-form4_1706044942.xml · nonDerivative · entry 1

Hoysradt Jean · CIK 0001603871 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 10,896

F1 · kind: On December 8, 2023, the Issuer declared a dividend of $0.34 per share to all shareholders of record as of the close of business on December 18, 2023 (the "Share Dividend"). Shareholders could elect to receive their dividend in the form of cash or shares. The aggregate amount of cash to be distributed by the Issuer was limited to a maximum of 20% of the total dividend. This Reporting Person received 100% of their dividend in shares based on their election. The value of the shares to be distributed is based upon the volume weighted average trading prices of the Issuer's common shares on the New York Stock Exchange between January 18, 2024 and January 19, 2024 which was $23.82. The dividend is payable on January 29, 2024.

SEC source: 0001952976-24-000009 · wk-form4_1706044978.xml · nonDerivative · entry 1

Sanzone ToniAnn · CIK 0001646363 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 4,212

F1 · kind: On December 8, 2023, the Issuer declared a dividend of $0.34 per share to all shareholders of record as of the close of business on December 18, 2023 (the "Share Dividend"). Shareholders could elect to receive their dividend in the form of cash or shares. The aggregate amount of cash to be distributed by the Issuer was limited to a maximum of 20% of the total dividend. This Reporting Person's dividend was subject to proration based on their election. The value of the shares to be distributed is based upon the volume weighted average trading prices of the Issuer's common shares on the New York Stock Exchange between January 18, 2024 and January 19, 2024 which was $23.82. The dividend is payable on January 29, 2024.

SEC source: 0001952976-24-000012 · wk-form4_1706045089.xml · nonDerivative · entry 1

Zander Brian H · CIK 0001952016 · Chief Accounting Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 154

F1 · kind: On December 8, 2023, the Issuer declared a dividend of $0.34 per share to all shareholders of record as of the close of business on December 18, 2023 (the "Share Dividend"). Shareholders could elect to receive their dividend in the form of cash or shares. The aggregate amount of cash to be distributed by the Issuer was limited to a maximum of 20% of the total dividend. This Reporting Person received 100% of their dividend in shares based on their election. The value of the shares to be distributed is based upon the volume weighted average trading prices of the Issuer's common shares on the New York Stock Exchange between January 18, 2024 and January 19, 2024 which was $23.82. The dividend is payable on January 29, 2024.

SEC source: 0001104659-23-114374 · tm2329524-9_4seq1.xml · nonDerivative · entry 1

PINOLA RICHARD J · CIK 0001099662 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 9,957

F1 · shares: Represents restricted stock units awarded to the Reporting Person pursuant to the Issuer's equity plan, which vest in full on the first anniversary of the grant date, subject to the Reporting Person's continued service with the Issuer through such date.

SEC source: 0001104659-23-114367 · tm2329524-4_4seq1.xml · nonDerivative · entry 1

Hansing Axel K.A. · CIK 0001523545 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 10,666

F1 · shares: Represents restricted stock units awarded to the Reporting Person pursuant to the Issuer's equity plan, which vest in full on the first anniversary of the grant date, subject to the Reporting Person's continued service with the Issuer through such date.

SEC source: 0001104659-23-114370 · tm2329524-7_4seq1.xml · nonDerivative · entry 1

Hoysradt Jean · CIK 0001603871 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 10,878

F1 · shares: Represents restricted stock units awarded to the Reporting Person pursuant to the Issuer's equity plan, which vest in full on the first anniversary of the grant date, subject to the Reporting Person's continued service with the Issuer through such date.

SEC source: 0001104659-23-114376 · tm2329524-11_4seq1.xml · nonDerivative · entry 2

W. P. Carey Inc. · CIK 0001025378 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

F2 · kind: In connection with the Spin-Off and following the Issuance, on November 1, 2023, W. P. Carey distributed 100% of the outstanding Common Shares of the Issuer to the holders of record of W. P. Carey common stock as of the close of business on October 19, 2023, the record date for the Spin-Off.

SEC source: 0001104659-23-114376 · tm2329524-11_4seq1.xml · nonDerivative · entry 1

W. P. Carey Inc. · CIK 0001025378 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 14,620,919

F1 · kind: In connection with the spin-off (the "Spin-Off") of the Issuer by W. P. Carey Inc. ("W. P. Carey"), on November 1, 2023, the Issuer issued (the "Issuance") to W. P. Carey, its sole shareholder, 14,620,919 common shares of beneficial interest, par value $0.001 per share, of the Issuer ("Common Shares").

SEC source: 0001104659-23-114371 · tm2329524-8_4seq1.xml · nonDerivative · entry 5

PARK JOHN J · CIK 0001054812 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · By Daughter

Disclosed balance after: 37

F1 · shares: Represents common shares of beneficial interest of the Issuer received in connection with the pro rata distribution by W. P. Carey Inc. of all of the Issuer's common shares on November 1, 2023.

SEC source: 0001104659-23-114371 · tm2329524-8_4seq1.xml · nonDerivative · entry 4

PARK JOHN J · CIK 0001054812 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · By Son 2

Disclosed balance after: 37

F1 · shares: Represents common shares of beneficial interest of the Issuer received in connection with the pro rata distribution by W. P. Carey Inc. of all of the Issuer's common shares on November 1, 2023.

SEC source: 0001104659-23-114371 · tm2329524-8_4seq1.xml · nonDerivative · entry 3

PARK JOHN J · CIK 0001054812 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · By Son 1

Disclosed balance after: 37

F1 · shares: Represents common shares of beneficial interest of the Issuer received in connection with the pro rata distribution by W. P. Carey Inc. of all of the Issuer's common shares on November 1, 2023.

SEC source: 0001104659-23-114371 · tm2329524-8_4seq1.xml · nonDerivative · entry 2

PARK JOHN J · CIK 0001054812 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 31,983

F2 · shares: Represents common shares of beneficial interest of the Issuer withheld to cover the Reporting Person's tax withholding obligation.

SEC source: 0001104659-23-114371 · tm2329524-8_4seq1.xml · nonDerivative · entry 1

PARK JOHN J · CIK 0001054812 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 39,118

F1 · shares: Represents common shares of beneficial interest of the Issuer received in connection with the pro rata distribution by W. P. Carey Inc. of all of the Issuer's common shares on November 1, 2023.

SEC source: 0001104659-23-114369 · tm2329524-6_4seq1.xml · nonDerivative · entry 4

Fox Jason E. · CIK 0001523546 · Director · CHIEF EXECUTIVE OFFICER

10b5-1 filing: No plan indicated

Ownership: Indirect · By Daughter

Disclosed balance after: 5

F1 · shares: Represents common shares of beneficial interest of the Issuer received in connection with the pro rata distribution by W. P. Carey Inc. of all of the Issuer's common shares on November 1, 2023.

SEC source: 0001104659-23-114369 · tm2329524-6_4seq1.xml · nonDerivative · entry 3

Fox Jason E. · CIK 0001523546 · Director · CHIEF EXECUTIVE OFFICER

10b5-1 filing: No plan indicated

Ownership: Indirect · By Son

Disclosed balance after: 73

F1 · shares: Represents common shares of beneficial interest of the Issuer received in connection with the pro rata distribution by W. P. Carey Inc. of all of the Issuer's common shares on November 1, 2023.

SEC source: 0001104659-23-114369 · tm2329524-6_4seq1.xml · nonDerivative · entry 2

Fox Jason E. · CIK 0001523546 · Director · CHIEF EXECUTIVE OFFICER

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 35,639

F2 · shares: Represents common shares of beneficial interest of the Issuer withheld to cover the Reporting Person's tax withholding obligation.

SEC source: 0001104659-23-114369 · tm2329524-6_4seq1.xml · nonDerivative · entry 1

Fox Jason E. · CIK 0001523546 · Director · CHIEF EXECUTIVE OFFICER

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 48,873

F1 · shares: Represents common shares of beneficial interest of the Issuer received in connection with the pro rata distribution by W. P. Carey Inc. of all of the Issuer's common shares on November 1, 2023.

SEC source: 0001104659-23-114375 · tm2329524-10_4seq1.xml · nonDerivative · entry 1

Sanzone ToniAnn · CIK 0001646363 · CHIEF FINANCIAL OFFICER

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 4,170

F1 · shares: Represents common shares of beneficial interest of the Issuer received in connection with the pro rata distribution by W. P. Carey Inc. of all of the Issuer's common shares on November 1, 2023.

SEC source: 0001104659-23-114368 · tm2329524-5_4seq1.xml · nonDerivative · entry 1

Zander Brian H · CIK 0001952016 · CHIEF ACCOUNTING OFFICER

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 152

F1 · shares: Represents common shares of beneficial interest of the Issuer received in connection with the pro rata distribution by W. P. Carey Inc. of all of the Issuer's common shares on November 1, 2023.