Regan Kenneth P 4

What Happened
Kenneth P. Regan, Chief Executive Officer of Sterling Real Estate Trust, completed a purchase on 2026-07-21 of 57,436.539 limited partnership units (reported as derivative securities) at $25.50 per unit, for a total purchase price of $1,464,632. The transaction is reported as a purchase (code P) and was filed with the SEC on 2026-07-22.

Key Details

• Transaction date: 2026-07-21; filing date: 2026-07-22 (filed promptly).
• Security: 57,436.539 limited partnership units (derivative securities) at $25.50 per unit.
• Total value: $1,464,632.
• Nature: Reported as a private purchase (derivative units) and subject to terms of the LLLP Agreement (units may be exchanged or redeemed).
• Footnotes: reporting person has ownership interests in Trustmark Enterprises, JKD, Inc., and GF Corporation and disclaims beneficial ownership of certain securities except to the extent of his pecuniary interest; the derivative securities have no expiration date.
• Shares owned after transaction: not specified in the filing.

Context
These are limited partnership/derivative units, not necessarily common stock — they may be exchangeable or redeemable under the LLLP agreement and the filing disclaims full beneficial ownership except for Mr. Regan’s pecuniary interest. Purchases by executives can signal increased economic exposure, but derivative unit holdings can carry different rights and liquidity than common shares; this filing is factual and does not indicate the insider's motives.