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SCHEDULE 13D/A 0000928385-99-002766 0001094581 XXXXXXXX LIVE 7 Common Stock 03/13/2025 false 0000063330 577345101 Maui Land & Pineapple Company, Inc. 500 Office Road Lahaina, Maui HI 96761 John M. Sabin, CFO 202-776-1400 Case Family Office 1717 Rhode Island Avenue, N.W., 10th Fl. Washington DC 20036 0001094581 N Stephen M. Case AF N X1 11977166.00 0.00 11977166.00 0.00 11977166.00 N 61.0 IN Common Stock Maui Land & Pineapple Company, Inc. 500 Office Road Lahaina, Maui HI 96761 This Amendment No. 7 (this "Amendment No. 7" or this "Schedule 13D/A") amends and supplements the statement on Schedule 13D originally filed with the Securities and Exchange Commission (the "SEC") on September 8, 1999, and amended on September 4, 2003, November 22, 2005, March 6, 2007, February 3, 2009, July, 30, 2010 and August 4, 2010 (as amended, the "Statement") by the Reporting Person. Unless otherwise defined herein, capitalized terms used in this Amendment No. 7 shall have the meanings ascribed to them in the Statement. Unless amended or supplemented below, the information in the Statement remains unchanged. Rows 11 and 13 of the Reporting Person's cover page to this Schedule 13D set forth the aggregate number of shares of Common Stock and percentage of the shares of Common Stock beneficially owned by the Reporting Person and are incorporated by reference. The percentage set forth in row 13 is based upon 19,631,630 shares of Common Stock outstanding as of November 8, 2024, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on November 14, 2024. Rows 7 through 10 of the Reporting Person's cover page to this Schedule 13D sets forth the number of shares of Common Stock as to which the Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition and are incorporated by reference. Except as set forth herein, the Reporting Person has not effected any transactions with respect to the securities of the Issuer during the past sixty days. Mr. Case is the sole Trustee of the Trust and has the right to receive or the power to direct the receipt of dividends from the sale of Common Stock held by the Trust. Not applicable. Item 6 of the Statement is hereby amended as follows: On March 13, 2025, Mr. Case, in his individual capacity and as sole Trustee of the Trust, entered into a Revolving Credit Agreement (the "Credit Agreement") with First Hawaiian Bank, a Hawaii corporation (the "Lender"). The Credit Agreement provides for the potential borrowing of up to a total of $15 million during the three year term of the agreement. The Credit Agreement charges interest at a variable rate, and provides for repayment of borrowed amounts at the end of the three year term. The Credit Agreement permits prepayments of principal without penalty. The obligations under the Credit Agreement are secured by the pledge of an aggregate of 3,000,000 shares of Common Stock of the Issuer owned by the Trust. In prior years, Mr. Case had pledged 11,814,012 shares to a different lender. The shares that remain pledged to this different lender are now 5,993,750 shares. The 3,000,000 shares pledged to the Lender represent a portion of such previously pledged shares. Pursuant to the terms of the Credit Agreement, a margin call may only be triggered in the event that the loan-to-value ratio set forth in the Credit Agreement is not maintained. As is customary with collateralized loan agreements, upon the occurrence of certain events of default, the Lender may exercise its rights with respect to the collateral. A copy of the Security Agreement, dated as of March 13, 2025, by and among the parties to the Credit Agreement is attached hereto as Exhibit 99.1 and incorporated herein by reference. A copy of the security agreement, dated as of June 30, 2022, with the Bank of Hawaii is attached hereto as Exhibit 99.2 and incorporated herein by reference. Exhibit 99.1 Security Agreement Exhibit 99.2 Security Agreement Stephen M. Case /s/ STEPHEN M. CASE Stephen M. Case 03/17/2025