Crowley Paula 4

What Happened
Paula Crowley, a director of Chiron Real Estate Inc. (XRN), was granted 2,497 limited partnership units (LTIP Units) on 2026-05-20. The units were issued at $0.00 (an awarded/derivative grant) and are not an open-market purchase or sale. The LTIP Units vest on May 20, 2027, subject to her continued service as a director, and have no expiration.

Key Details

• Transaction date and price: 2026-05-20; grant price $0.00 per LTIP Unit (transaction code A = Award).
• Amount granted: 2,497 LTIP Units (post-1-for-5 reverse-split adjusted).
• Vesting: All units vest on 5/20/2027 conditioned on continued service (see footnote).
• Conversion: Vested LTIP Units that have achieved capital account parity may be exchanged for cash or, at the issuer’s election, for common shares on a one-for-one basis.
• Filing: Report filed 2026-05-21 for a 2026-05-20 grant (filed the day after the transaction).
• Ownership after transaction: Not disclosed in this filing.

Context
LTIP Units are a form of equity-based compensation tied to the issuer’s operating partnership; they’re derivatives that can convert into common stock after vesting (subject to partnership terms). Awards like this are compensation for service rather than an immediate buy signal — they don’t indicate Crowley purchased shares on the open market. Note the number shown reflects a prior 1-for-5 reverse stock split effective 9/19/2025.