Cherry James C. 4

What Happened

• James C. Cherry, a director of AH Realty Trust, Inc. (AHRT), received a grant of 11,695 Time‑Based LTIP Units in the company's operating partnership on 2026-06-17. The units were awarded at $0.00 (no cash paid). This is an award/grant (derivative) rather than a purchase or sale.

Key Details

• Transaction date: 2026-06-17; filing date: 2026-06-22 (filed after the typical two-business-day Form 4 deadline).
• Transaction type: A = Award/Grant of derivative securities (Time‑Based LTIP Units).
• Amount: 11,695 Time‑Based LTIP Units; grant price reported $0.00.
• Shares/units owned after transaction: not specified in the filing.
• Vesting/conversion notes (from filing footnotes):
  • The units are Time‑Based LTIP Units that will vest in full on the date of the Company’s 2027 Annual Meeting of Stockholders.
  • After vesting, the units are convertible, at the holder’s option, into Common Units of the operating partnership, but — except in a change of control — the LTIP Units may not be converted into Common Units until two years after the grant date.
  • Each Common Unit is redeemable for cash equal to the then‑current market value of one share of AHRT common stock or, at the company’s election, one share of common stock.
• Filing timeliness: The Form 4 was filed 5 days after the reported transaction date, later than the usual two-business-day deadline.

Context

• This is a standard long‑term incentive award (unvested LTIP units) for a director. Because these are derivative LTIP units with vesting and conversion restrictions, they are not the same as an immediate stock purchase and may not be converted to common units for up to two years (unless there's a change of control). The award has no immediate cash impact for the director and does not itself indicate a buy/sell signal.