X0306 4 2016-12-28 0 0000023795 CONSOLIDATED TOMOKA LAND CO CTO 0001392476 Albright John P 1530 CORNERSTONE BLVD. SUITE 100 DAYTONA BEACH FL 32117 1 1 0 0 President & CEO Common Stock 2016-12-28 4 S 0 1250 53.3324 D 154475 D Common Stock 2016-12-29 4 S 0 1250 53.2124 D 153225 D The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on July 25, 2016. This transaction was executed in multiple trades at prices ranging from $53.01 to $53.75. The price set forth above reflects the weighted-average price per share. 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 transactions were effected. This amount includes 13,334 shares of restricted common stock which vest over time and 58,000 shares of restricted common stock which vest based on share price appreciation, both of which were previously reported. This transaction was executed in multiple trades at prices ranging from $53.07 to $53.59. The price set forth above reflects the weighted-average price per share. 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 transactions were effected. /s/ Daniel E. Smith, Attorney-in-Fact for John P. Albright 2016-12-30