Wieland James 4

What Happened
James Wieland, reported as a 10% owner, acquired 122,830 derivative units in Sterling Real Estate Trust on 2026-02-09. The Form 4 reports this as a "P" (purchase) transaction but lists a $0.00 per-unit price and $0 total consideration — the units were received in connection with an UPREIT transaction rather than a cash market purchase.

Key Details

• Transaction date: 2026-02-09; Form 4 filed: 2026-02-10 (timely filing).
• Reported transaction code: P (purchase/acquired); reported price per unit: $0.00; total reported consideration: $0.
• Quantity acquired: 122,830 derivative units.
• Shares/units owned after transaction: not specified in the provided filing excerpt.
• Notable footnotes:
  • F7: Units were received by GF Corporation as a result of an UPREIT on 2/9/2026; James Wieland is a beneficial owner of GF Corporation.
  • F3: Units are subject to exchange or redemption under the LLLP Agreement and applicable redemption plan.
  • F4: These derivative securities have no expiration date.
  • F1/F6: Wieland has ownership interests in entities (Trustmark Enterprises, JKD, Inc.) and disclaims direct beneficial ownership except for pecuniary interests; F2/F5 note he has voting control over certain shares/units.

Context
This was not a cash open-market purchase but units received in an UPREIT exchange, a common REIT transaction where property owners receive operating partnership units or similar non‑cash consideration. Such derivative units can often be exchanged or redeemed under the partnership agreement; they do not necessarily indicate a cash investment or a sale. As a 10% owner transacting through affiliated entities, this filing reflects institutional-level interests and entity relationships rather than a straightforward personal market trade.