Bluerock (BPRE) Trustee Tio Romano Receives Award Shares

What Happened
Tio Romano, a trustee of Bluerock Private Real Estate Fund (BPRE), was credited with 1,012.47 shares through non‑market acquisitions tied to the trustees' compensation plan. The filing reports three separate acquisitions: 333.33 shares on 2025-12-31 at $15.00 ($5,000), 301.02 shares on 2026-03-31 at $16.61 ($5,000), and 378.12 shares on 2026-06-30 at $13.22 ($4,999). These are acquisitions (not open‑market purchases) and represent compensation awards rather than discretionary insider buying.

Key Details

• Transaction dates and amounts:
  • 2025-12-31: 333.33 shares @ $15.00 — $5,000
  • 2026-03-31: 301.02 shares @ $16.61 — $5,000
  • 2026-06-30: 378.12 shares @ $13.22 — $4,999
• Total: 1,012.47 shares valued at $14,999.
• Shares owned after transaction: Not disclosed in the filing.
• Footnote: F1 — shares were granted in conjunction with the trustees' compensation plan (i.e., awards, not open‑market buys).
• Filing/filing agent: Report filed 2026-08-27; form submitted by an attorney‑in‑fact under a Limited Power of Attorney dated 7-22-22.
• Timeliness: The filing reports transactions from late 2025 and mid‑2026 but was filed in August 2026, indicating a late Section 16 filing.

Context
These entries are compensation grants to a trustee (code J — other acquisition/disposition) and should be read as routine awards under the trustees' compensation plan rather than a direct market signal of insider sentiment. For retail investors, purchases reported as compensation differ from voluntary open‑market buys because they reflect pay practices, not independent investment decisions.