Patel Bhairav 4

4 · CENTERSPACE · Filed Feb 4, 2026

AI-generated summary of this filing

Updated Feb 4, 2026

CENTERSPACE (CSR) CFO Bhairav Patel Receives Award; 202 Shares Withheld

What Happened

Bhairav Patel, EVP and CFO of CENTERSPACE (CSR), was issued 620 performance shares on Feb 2, 2026 (award code A). The fair market value on that date was $63.83 per share, making the 620-share award worth about $39,575.
Simultaneously, 202 shares were withheld/disposed to cover tax withholding (code F) at $63.83 per share for a total withholding value of $12,894.

Key Details

Transaction dates: issuance and withholding both reported for 2026-02-02; Form 4 filed 2026-02-04 (appears timely).
Prices and values: award recorded at $0 acquisition price (non-cash award); FMV used for tax withholding $63.83/share. Withheld shares: 202 shares = $12,894. Award value: 620 shares ≈ $39,575.
Shares owned after transaction: not specified in the provided excerpt of the filing.
Notable footnotes:
- F1: The award was a performance share granted 1/1/2023 tied to TSR vs. the FTSE Nareit Equity Index for 2023–2025. The company’s estimated TSR placed it at the 70.8th percentile, producing a 183.20% payout (5,444 shares total). 90% (4,824 shares) were accelerated and issued on 12/26/2025; the remaining 10% (620 shares) issued 2/2/2026.
- F2: Shares were withheld to satisfy tax withholding obligations.
- F3: $63.83 reflects the company’s FMV per share on 2/2/2026.
Transaction codes: A = Award/Grant; F = Tax withholding (share-for-tax).

Context

This was an issuance of performance-based compensation, not an open-market purchase or a discretionary sale. The 202-share withholding is a routine cashless tax-withholding step and does not necessarily indicate insider sentiment about the stock.
The larger performance grant (5,444 shares total) reflects the payout above target based on relative TSR for the 2023–2025 measurement period; most of that award had already been accelerated and issued in December 2025.

Form 4

Period: 2026-02-02

EVP and CFO

Transactions

Award
Common Shares of Beneficial Interest
[F1]
2026-02-02+620→ 8,070 total
Tax Payment
Common Shares of Beneficial Interest
[F2][F3]
2026-02-02$63.83/sh−202$12,894→ 7,868 total

Footnotes (3)

[F1]On January 1, 2023, the reporting person was granted a performance share award based on the Company's total shareholder return ("TSR") compared to the FTSE Nareit Equity Index (the "REIT Index") for the measurement period of January 1, 2023 through December 31, 2025. For the measurement period, the Company's estimated TSR was at 70.8 percentile of the benchmark index resulting in a payout of 183.20% of target, or 5,444 shares, being issued under the performance share award. 90% of the performance or 4,824 shares were accelerated and issued on December 26, 2025 and remaining 10% of the performance or 620 shares were issued on February 2, 2026.
[F2]Shares withheld for payment of taxes in connection with the vesting of performance share award.
[F3]The stock price reflects the fair market value of the Company's common shares of beneficial interest as of February 2, 2026.

Signature

Bhairav Patel|2026-02-03

1 file