Seven Hills (SEVN) 10% Owner Adam Portnoy Sells 4,966 Shares

What Happened
Adam D. Portnoy, a reported 10% owner of Seven Hills Realty Trust (SEVN), disposed of 4,966 common shares on September 17, 2026. The shares were withheld to satisfy taxes related to vesting (transaction code F), at $7.40 per share, for a total value of $36,748. The Form 4 was filed on September 18, 2026.

Key Details

• Transaction date: 2026-09-17; filing date: 2026-09-18 (timely).
• Disposition: 4,966 shares withheld/disposed at $7.40 each = $36,748 (transaction code F = tax withholding on vesting).
• Footnote F1: sale/withholding was to pay tax liability associated with vesting (Rule 16b-3).
• Footnote F2: ABP Trust holds 178,488 common shares; Portnoy is sole trustee and disclaims beneficial ownership except to his pecuniary interest.
• Footnote F3: Tremont Realty Capital LLC holds 4,577,835 shares; related holding structure through RMR entities noted; Portnoy may be deemed a beneficial owner but disclaims except to pecuniary interest.
• Filing appears timely (no late-filing indicator).

Context
This was a routine tax-withholding disposition tied to vesting, not an open-market sale for investment purposes. Such “sell-to-cover” actions are common and don't necessarily reflect a change in the insider’s view of the company. For 10% owners like Portnoy, much of the reported share totals reflect holdings through trusts and affiliated entities rather than direct open-market trades.