February 13, 2024 · Form 4 insider transaction
KLEISNER FRED J bought 1,594.7 shares of NONE at $0.00 per share, a transaction worth N/A. The trade was recorded as grant or award and disclosed on an SEC Form 4, filed 2 days after the transaction.
Special long-term incentive partnership units ("LTIP Units") in Stirling REIT OP, LP, the Issuer's operating subsidiary ("Subsidiary"). LTIP Units vest on the first anniversary after issuance (February 13, 2025). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.; The LTIP Unit awards reported herein were issued as an annual grant under the Issuer's Independent Director Compensation Plan.; Neither the LTIP Units nor the Common Units have an expiration date.; Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in the Amended and Restated Agreement of the Subsidiary dated December 6, 2023.