Boykin Jennifer R. 4

What Happened
Jennifer R. Boykin, a director of AH Realty Trust, Inc. (AHRT), was granted 11,695 Time‑Based LTIP Units in the company's operating partnership on June 17, 2026. The award is reported at $0.00 per unit (an uncompensated grant on the face of the Form 4) and is a derivative grant rather than an open‑market purchase or sale.

Key Details

• Transaction date and price: 2026-06-17; grant recorded at $0.00 per unit.
• Units granted: 11,695 Time‑Based LTIP Units (derivative units).
• Shares/units owned after transaction: Not disclosed in this Form 4.
• Vesting/conversion rules (footnotes):
  • F1: Time‑Based LTIP Units are convertible, at the holder's option, into Common Units of the Operating Partnership; conversion to Common Units generally cannot occur until two years after the grant (unless a Change of Control occurs).
  • F2: Each Common Unit is redeemable for cash equal to the then‑current market value of one share of the Company’s common stock or, at the Company’s election, one share of common stock.
  • F3: These Time‑Based LTIP Units are unvested and will vest in full on the date of the Company’s 2027 Annual Meeting of Stockholders.
• Filing timing: Form filed on 2026-06-30 for a 2026-06-17 grant — the filing appears later than the typical two-business-day Form 4 deadline.

Context
This was a grant of partnership units as compensation (derivative LTIP units), not a purchase or sale of publicly traded stock. Such awards are commonly used for retention and long-term alignment; their economic value depends on the underlying Common Unit/stock value when converted or redeemed. The units have no expiration, and conversion/redeemability provisions determine how they translate into cash or shares in the future.