Patel Bhairav 4

What Happened

• Bhairav Patel, EVP and CFO of CENTERSPACE (ticker: CSR), had 1,831 restricted stock units (RSUs) convert to common shares on March 31, 2026. Of those, 637 shares were withheld to cover tax liabilities at $57.45 per share (total value $36,596). The conversion resulted in a net delivery of 1,194 shares to Patel.
• This was not a market purchase or open-market sale by the insider; it was a vesting/conversion event with shares withheld for taxes (cashless withholding), a routine occurrence when RSUs vest.

Key Details

• Transaction date: 2026-03-31.
• Transactions reported:
  • M (exercise/conversion): 1,831 shares acquired at $0.00 (conversion of RSUs).
  • F (tax withholding): 637 shares withheld/disposed at $57.45, value $36,596.
  • M (derivative conversion): 1,831 shares disposed (reporting the derivative conversion).
• Net shares received by insider after withholding: 1,194 shares.
• Shares owned after the transaction: Not disclosed in the filing.
• Footnote: F1 — Shares were withheld to pay taxes in connection with the vesting of restricted stock units.
• Filing timeliness: Report filed 2026-04-02 for a 2026-03-31 transaction — appears to be timely (within the Form 4 reporting window).

Context: This was a routine RSU vesting and tax-withholding event (cashless withholding), not an intentional open-market sale or purchase signal. For retail investors, purchases are generally more indicative of bullish insider sentiment; conversions/withholdings like this are standard compensation mechanics.