Ungerecht Joshua 4

What Happened
Joshua Ungerecht, a director of ExchangeRight Income Fund, was issued two grants of NLP Common Units (derivative units) on June 25, 2026: 3,804.329 units and 6,638.02 units, totaling 10,442.349 units. The units were issued as merger consideration (not an open-market purchase or cash payment) and no per-unit price or cash value is reported on the Form 4. The filing (Form 4 accession 0001193125-26-284315) was submitted on June 26, 2026.

Key Details

• Transaction type: Award/Grant (code A) on 2026-06-25; Form 4 filed 2026-06-26 (timely).
• Units issued: 3,804.329 and 6,638.02 (total 10,442.349). No dollar price/value reported (N/A).
• These are NLP Common Units of the Operating Partnership reported as derivative positions; the Units have no expiration.
• Footnote highlights: units issued pursuant to an amendment to the partnership agreement and were issued as merger consideration in exchange for 0.50 Class 1 Beneficial Interests in a DST. Units are not convertible into other unit classes, have no redemption rights, and may derive value from Class I Common Shares.
• Reported units are held in a revocable trust for the benefit of Mr. Ungerecht and his family; Mr. Ungerecht is co-trustee and disclaims beneficial ownership of the trust-held shares.
• Exhibit 24 (Power of Attorney) attached to filing.

Context
This was a non-cash issuance as merger consideration, not an open-market buy or sale. For retail investors, such awards reflect a structural change in holdings tied to a transaction (merger consideration) rather than a direct insider market trade; no price info limits inference about monetary value.