X0306 4 2019-01-02 0 0000023795 CONSOLIDATED TOMOKA LAND CO CTO 0001165972 FRANKLIN LAURA M CONSOLIDATED-TOMOKA LAND CO. PO BOX 10809 DAYTONA BEACH X1 32120 UNITED STATES 1 0 0 0 Common Stock 2019-01-02 4 A 0 400 A 2411 D These shares were issued to the reporting person in lieu of her 4th quarter 2018 retainer fee of $10,000 and meeting fees of $11,000 pursuant to the Issuer's "Stock Ownership Guidelines for Directors and Executive Officers" adopted by the Issuer's board of directors on January 24, 2018. /s/ Daniel E. Smith, attorney-in-fact for Laura M. Franklin 2019-01-02