Brines Ned 4

What Happened

• Ned Brines, a director of Independence Realty Trust, Inc. (IRT), received a grant/award of 6,197 shares on 2026-05-13 (reported on 2026-05-15) at $0.00 per share.
• In addition, Brines acquired a series of smaller lots via dividend reinvestment (DRIP) on 2025-07-18, 2025-10-24, 2026-01-23 and 2026-04-17 totaling 2,368 shares for approximately $39,305 in cash.
• Overall, the filing shows 8,565 shares acquired across these entries (6,197 award shares + 2,368 DRIP shares). These are acquisitions (not sales).

Key Details

• Transaction dates and prices:
  • 2025-07-18: 560 shares @ $17.30 (total ~$9,689) — DRIP (marked late)
  • 2025-10-24: 599 shares @ $16.32 (total ~$9,776) — DRIP (marked late)
  • 2026-01-23: 589 shares @ $16.76 (total ~$9,871) — DRIP (marked late)
  • 2026-04-17: 620 shares @ $16.08 (total ~$9,969) — DRIP (marked late)
  • 2026-05-13: 6,197 shares @ $0.00 (award/grant) — reported 2026-05-15
• Total DRIP cash spent ≈ $39,305; award shares reported with $0 purchase price.
• Footnote F1: the small purchases represent dividend reinvestment shares acquired through a DRIP maintained with a broker.
• Filing/Timeliness: The DRIP purchases are marked with transaction timeliness "L" (late filings). The award dated 2026-05-13 was included in the Form 4 filed 2026-05-15 (period of report 2026-05-13).
• Shares owned after these transactions were not provided in the summary data.

Context

• DRIP purchases simply reinvest dividends to buy more stock and are common; they do not necessarily indicate new active buying decisions. The filing footnote confirms these were dividend reinvestments.
• The award (6,197 shares at $0) likely reflects a grant/vesting event (e.g., RSUs or restricted stock), but the Form 4 excerpt provided does not specify the award type or any subsequent sale.
• Late reporting of earlier DRIP purchases reduces immediacy/transparency for investors; however, the transactions themselves are acquisitions rather than dispositions.