Mastandrea Christine J 4

What Happened
Christine J. Mastandrea, President and Chief Operating Officer of Whitestone REIT (WSR), surrendered 718,873 common shares to the issuer on July 14, 2026 for $19.00 per share, receiving $13,658,587. On the same date 246,410 restricted performance share unit awards (TSR Unit Awards) were treated as fully vested, cancelled, and converted into the right to receive cash equal to $19.00 per share (approximately $4,681,790). Net effect: cash-out of her equity positions as part of the company merger.

Key Details

• Transaction date: 2026-07-14; sale price / per-share merger consideration: $19.00.
• Disposition: 718,873 shares → $13,658,587 total.
• Award conversion: 246,410 TSR Unit Awards → ~$4,681,790 (246,410 × $19.00). The Form 4 lists the award acquisition at $0.00 but footnotes explain cash conversion.
• Shares owned after transaction: Reporting person no longer beneficially owns any Whitestone REIT common shares.
• Reason: Transactions resulted from the Agreement and Plan of Merger (company merger) that converted each common share into $19.00 cash.
• Filing timeliness: Report filed 2026-07-15 for transactions on 2026-07-14 (filed promptly).

Context
These were not open-market trades but merger-related conversions/surrender of stock and equity awards into cash under the merger agreement. The TSR units were automatically vested, cancelled, and paid out as cash based on the merger consideration; this is a contractual cash-out rather than a discretionary sale or purchase by the insider.