Wieland James 4
4 · Sterling Real Estate Trust · Filed Mar 9, 2026
Research Summary
AI-generated summary of this filing
Sterling Real Estate Trust 10% Owner Wieland James Buys 45,875 Units
What Happened Wieland James (reported as a 10% owner) reported a purchase (code P) of 45,875 derivative units on 2026-03-06. The filing shows a $0.00 per-unit price and $0 total cash paid — the units were acquired in connection with an UPREIT exchange (footnote F8), so this was a non‑cash transaction rather than an open‑market cash purchase. The derivative units are reported as having no expiration (F4) and James has voting control over them (F2, F5).
Key Details
- Transaction date: 2026-03-06; Filing date: 2026-03-09 (report covers period 3/6/2026).
- Reported price: $0.00 per unit; Reported cash value: $0.
- Quantity: 45,875 derivative units acquired (code P).
- Shares/units owned after transaction: not disclosed in the provided excerpt.
- Notable footnotes: F8 (acquired in UPREIT transaction); F3 (units subject to exchange/redemption under the LLLP Agreement/relevant redemption plan); F4 (no expiration); F1/F6/F7 note ownership/interests in affiliated entities and applicable beneficial‑ownership disclaimers; F2/F5 note voting control.
- Timeliness: filed three days after the transaction date; check the full filing for any official timeliness flag.
Context An UPREIT exchange typically means limited‑partnership interests were exchanged for REIT units or OP units and often shows as $0 cash consideration on Form 4. These are derivative/partnership‑type interests (not a cash market buy) and may be subject to exchange or redemption rules described in the LLLP agreement. As a 10% owner, this filing reflects a material ownership change by a principal holder rather than routine executive cash trades.
Insider Transaction Report
- Purchase
Limited Partnership Units
[F8][F3][F4]2026-03-06+45,875→ 1,143,194.813 totalExercise: $25.50→ Common Shares (1,097,319.813 underlying)
- 13,000(indirect: By Trust)
Common Shares
[F1] - 205,886.852
Common Shares
- 1(indirect: By Trust)
Common Shares
[F2] - 11,665.016(indirect: By LLC)
Limited Partnership Units
[F3][F4][F5]Exercise: $25.50→ Common Shares (11,665.016 underlying) - 35,408.425(indirect: JKD, Inc.)
Limited Partnership units
[F3][F4][F6]Exercise: $25.50→ Common Shares (35,408.425 underlying) - 756,756(indirect: By Trust)
Limited Partnership Units
[F3][F4][F2]Exercise: $25.50→ Common Shares (756,756 underlying) - 122,830(indirect: GF Corporation)
Limited Partnership Units
[F3][F4][F7]Exercise: $25.50→ Common Shares (122,830 underlying)
Footnotes (8)
- [F1]The reporting person has an ownership interest in Trustmark Enterprises, Inc. (Trustmark) and has shared voting control of the shares held by Trustmark. The Reporting Person disclaims beneficial ownership except to the extent of his pecuniary interest in such securities.
- [F2]The reporting person has voting control over these shares.
- [F3]The units are subject to exchange or redemption pursuant to the terms of the LLLP Agreement and the applicable redemption plan.
- [F4]These derivative securities do not have an expiration date.
- [F5]The reporting person has voting control over these units.
- [F6]The reporting person has an ownership interest in JKD, Inc.
- [F7]The reporting person is a beneficial owner of GF Corporation.
- [F8]The reporting person acquired the Limited Partnership Units in connection with an UPREIT on 3/6/2026.