Stilwell Joseph bought WHLR
June 11, 2025 · Form 4 insider transaction
Stilwell Joseph bought 405,580 shares of Wheeler Real Estate Investment Trust, Inc. at $2.82 per share, a transaction worth $1.14M. The trade was recorded as conversion of a derivative and disclosed on an SEC Form 4, filed 2 days after the transaction.
Footnotes
On June 11, 2025, the Reporting Person submitted to the Issuer a notice to convert the Issuer's 7.00% Subordinated Convertible Notes due 2031 (the "Notes") into shares of the Issuer's common stock at a conversion price of $2.819312 per share (8.867413 common shares for each $25.00 of principal amount of the Notes being converted) in accordance with the terms of the Indenture among the Issuer and Wilmington Savings Fund Society, FSB, as Trustee, governing the terms of the Notes (the "Indenture").; These securities are owned directly by Stilwell Activist Investments, L.P. ("SAI") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC ("Value"), which is the general partner of SAI. Joseph Stilwell disclaims beneficial ownership of all shares reported as owned indirectly except to the extent of his pecuniary interest therein.