ExchangeRight Director Joshua Ungerecht Receives 5,743 Units

What Happened

• Joshua Ungerecht, a director of ExchangeRight Income Fund, received 5,742.8679 Operating Partnership Units on July 30, 2026. The issuance is reported as an award/grant/other acquisition (derivative) and no purchase price or dollar value is provided. The Units were issued as merger consideration in exchange for Ungerecht’s 0.33 Class 1 Beneficial Interests in ExchangeRight Net Leased Portfolio 25 DST.

Key Details

• Transaction date: July 30, 2026; Form 4 filed August 3, 2026 (period of report July 30, 2026).
• Amount: 5,742.8679 Units (reported in the Form 4 as 5,742.868); price/value: N/A.
• Post-transaction holdings reported: the 5,742.8679 Units (held in a revocable trust).
• Footnotes: Units were issued under the Amended & Restated Partnership Agreement (Amendment to Classify Common Units, Mar 18, 2026). Units are not convertible into other classes, have no redemption rights, and have no expiration; they may derive value from Class I Common Shares but are not explicitly backed by a set number of Common Shares.
• Ownership/controls: The reported Units are held in a revocable trust for Ungerecht and his family; he is co-trustee and shares voting and dispositive power with his wife, but disclaims beneficial ownership of the trust-held shares.
• Filing exhibits: Exhibit 24 — Power of Attorney included.
• Timeliness: Filing date (Aug 3) follows the July 30 transaction and appears to meet the Form 4 reporting deadline.

Context

• This was an award/issuance tied to a merger (consideration for DST interests), not an open-market purchase or sale; such derivative/unit issuances are corporate transaction-driven and do not by themselves signal the insider’s buy/sell market sentiment.