Clipper Realty Inc: co-chairman and ceo David Bistricer sold 4,945,253 shares

What happened David Bistricer, co-chairman and ceo and a director, reported multiple trust distributions and related transfers on Sep 30, 2026. The Form 4 shows acquisitions (gifts/transfers) totaling 1,762,640 shares (693,125 and 1,069,515) and dispositions totaling 4,945,253 shares (4,278,058, 348,933 and 318,262). All transactions were reported at $0 per share.

Key details

• Transaction date: Sep 30, 2026. Filing date: Oct 02, 2026.
• Prices and values: all transactions reported at $0.
• Transaction codes on the filing: G = gift (acquisitions of 693,125 and 1,069,515 shares); J = other acquisition or disposition (dispositions of 4,278,058, 348,933 and 318,262 shares).
• Share types: some transfers involved Special Voting Stock (see footnotes F2, F3, F4); others involved Common Stock (F5, F6).
• Trust and voting details from footnotes:
  • F3: 693,125 shares of Special Voting Stock distributed from The Moric Bistricer 2014 Trust to The Moric Bistricer 2014 Trust FBO David Bistricer (no consideration); reporting person is co-trustee of the FBO trust and shares voting and investment power.
  • F4: pro-rata distribution of 4,278,058 shares of Special Voting Stock from the Moric Bistricer 2016 Family Trust; 1,069,515 shares transferred to the Moric Bistricer 2016 Family Trust FBO David Bistricer (change in form of indirect beneficial ownership) and 3,208,543 shares distributed to other beneficiaries (reported as disposition).
  • F5: pro-rata distribution of 348,933 shares of Common Stock from the Moric Bistricer 2016 Family Trust; reporting person ceases to be a beneficial owner of those shares.
  • F6: pro-rata distribution of 318,262 shares of Common Stock from the Moric Bistricer 2012 Family Trust; reporting person ceases to be a beneficial owner of those shares.
• Shares owned after the transaction: not stated in the filing.
• Filing timeliness: filing dated Oct 02, 2026; the Form 4 does not indicate a late filing flag.

Why it may matter

• Gifts and trust distributions are not open-market purchases or sales; several entries reflect transfers among trusts or distributions to beneficiaries rather than market trades.
• Some transfers involved Special Voting Stock, which, per F2, carries voting rights but does not share in distributions to common stockholders and is paired with exchangeable Class B LLC Units.
• One entry (F4) represents a change in the form of indirect beneficial ownership for 1,069,515 shares.
• A filing does not show why the insider traded or why the company acted.