FISCHER TAMARA D 4

What Happened
Tamara D. Fischer, a director of JLL Income Property Trust, acquired 343.118 shares through the company's Distribution Reinvestment Plan and was credited with 6,571.936 Deferred Stock Units (DSUs) under the Independent Directors Compensation Plan on March 31, 2026. The DRIP shares were valued at $11.24 each (≈$3,857) and the DSUs at $11.26 each (≈$74,000), for a combined economic value of about $77,857. These are acquisitions (not sales), i.e., an increase in her economic exposure to the company.

Key Details

• Transaction date: 2026-03-31; Form 4 filed 2026-04-02 (filing appears timely).
• DRIP: 343.118 shares @ $11.24 = $3,857 (Footnote F1).
• DSUs (derivative): 6,571.936 Deferred Stock Units @ $11.26 = $74,000 (Footnote F2).
• Total equivalent shares received: 6,915.054; total reported value ≈ $77,857.
• Shares owned after transaction: not specified in the provided filing summary.
• Transaction code: reported as "Other acquisition or disposition (J)" for both entries.
• Notable footnotes: F1 = shares purchased via the Amended & Restated Distribution Reinvestment Plan; F2 = DSUs are economically equivalent to one share each; F3 = DSUs are payable on separation, a specified date, or a change in control.

Context
DSUs are a deferred, derivative-based form of compensation for directors: they increase economic exposure now but are typically paid out later in stock or cash per the plan terms, so they do not represent an immediate open‑market purchase of tradable shares. DRIP purchases reflect reinvestment of distributions rather than a discretionary open‑market buy. These filings are informational and do not by themselves indicate insider intent.