Wolf Lance 4

What Happened
Wolf Lance, Chairman and Trustee of Sterling Real Estate Trust, reported selling 5,800 shares on February 10, 2026 in an open-market or private sale at $25.50 per share, for total proceeds of $147,900. The Form 4 was filed on February 11, 2026.

Key Details

• Transaction date and price: 2026-02-10 at $25.50 per share (sale, code S).
• Shares sold: 5,800; total value: $147,900.
• Method: Open market or private sale (as reported).
• Shares owned after transaction: Not disclosed in the filing excerpt.
• Filing date: 2026-02-11 (filed the day after the transaction).
• Footnotes included in the filing:
  • F1: Units are subject to exchange or redemption under the LLLP Agreement and applicable redemption plan.
  • F2: The referenced derivative securities do not have an expiration date.

Context
This was a sale (liquidity event) rather than a purchase. Sales by insiders can be routine (personal liquidity, diversification, tax planning) and do not by themselves indicate management’s view of the company’s prospects. No additional details (e.g., 10b5‑1 plan, tax withholding, or post-transaction holdings) were provided in the reported excerpt.