Carroll James A 4

What Happened
James A. Carroll, a director of AH Realty Trust, Inc. (AHRT), was granted 757 Time‑Based LTIP Units (recorded as an acquisition) on 2026-06-16 at an implied value of $6.81 each, for a total value of $5,154. The units were issued in lieu of a portion of his cash director retainer.

Key Details

• Transaction date and value: 2026-06-16; 757 units × $6.81 = $5,154 (code A — grant/acquisition).
• Filing: Report filed 2026-06-18 (filed within the typical 2-business-day window for Form 4s).
• Shares/units owned after transaction: Not reported in this filing.
• Footnotes of note:
  • Issued in lieu of a portion of director cash retainer.
  • These are Time‑Based LTIP Units in the Operating Partnership that, once vested, are convertible into Common Units; conversion generally not permitted until two years after grant (except on a Change of Control).
  • Common Units are redeemable for cash equal to the market value of one share of AHRT common stock, or, at the company’s election, one share of common stock. Common Units have no expiration and may be tendered for redemption.

Context
This transaction is an equity award (compensation) rather than a market purchase or sale. Such awards are routine for director compensation and do not, by themselves, indicate the director’s trading intent or sentiment. The LTIP Units carry conversion and vesting restrictions and are not immediately exchangeable for common stock except under the terms noted above.