Cherry James C. 4

4 · AH Realty Trust, Inc. · Filed Jul 6, 2026

AI-generated summary of this filing

Updated Jul 6, 2026

AH Realty Trust Director James C. Cherry Exercises LTIP Units

What Happened

James C. Cherry, a director of AH Realty Trust, reported the exercise/conversion of 4,981 in‑the‑money Time‑Based LTIP derivative units on July 1, 2026. The filing shows both an acquisition and a matching disposition of 4,981 units at an exercise price of $0.00, reflecting a conversion rather than a market purchase or sale. No cash changed hands in the reported transactions.

Key Details

Transaction date: July 1, 2026. Report filed July 6, 2026 (five days after the transaction).
Reported entries: 4,981 units Acquired @ $0.00 (derivative) and 4,981 units Disposed @ $0.00 (derivative) — indicates conversion of LTIP Units into Common Units (see footnote F3).
Shares/units owned after transaction: Not specified in the provided filing excerpt.
Notable footnotes:
- F1/F3: These were Time‑Based LTIP Units granted July 1, 2024 that the holder elected to convert into Common Units on the earliest permitted date (two years after grant).
- F2/F4: Each Common Unit is redeemable for cash equal to the market value of one share (or, at the company’s election, one share of common stock); Common Units may be tendered for redemption.
Filing timeliness: The Form 4 was filed five days after the transaction. Form 4s are normally due within two business days; the filing does not explicitly state a late filing reason.

Context

This was a conversion/exercise of LTIP (long‑term incentive) units, not an open‑market buy or sale. Such conversions often reflect grant vesting/holder election rather than a direct bullish or bearish trade.
The exercise price reported is $0.00, meaning the conversion did not require cash payment by the director. The resulting Common Units carry redemption/convertibility features described in the footnotes.

Form 4

Period: 2026-07-01

Director

Transactions

Exercise of In-Money
Time-Based LTIP Units
[F1][F2][F3]
2026-07-01−4,981→ 19,633 total
→ Common Stock (4,981 underlying)
Exercise of In-Money
Common Units
[F2][F4][F3]
2026-07-01+4,981→ 9,626 total
→ Common Stock (4,981 underlying)

Holdings

Footnotes (4)

[F1]Represents Time-Based LTIP Units ("Time-Based LTIP Units") in AH Realty Trust, LP (the "Operating Partnership"), the operating partnership of AH Realty Trust, Inc. (the "Company"), and of which the Company is the general partner. Under the agreement of limited partnership of the Operating Partnership (the "OP Agreement") and subject to conditions set forth in the OP Agreement, following the date on which the Time-Based LTIP Units vest, Time-Based LTIP Units are convertible into common units of limited partnership interest in the Operating Partnership ("Common Units"), at the holder's option. Under the award agreement pursuant to which the Time-Based LTIP Units were granted to the reporting person, except in connection with a Change of Control (as defined in the OP Agreement), the Time-Based LTIP Units may not be converted to Common Units until two years following the date of grant. Time-Based LTIP Units have no expiration date.
[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 election of the Company, one share of the Company's common stock. Common Units have no expiration date.
[F3]Represents the conversion of Time-Based LTIP Units granted on July 1, 2024 into Common Units at the election of the reporting person.
[F4]Represents Common Units. All Common Units reflected in this report may be tendered for redemption by the holder.

Signature

/s/ Matthew T. Barnes-Smith, as Attorney-in-Fact for James C. Cherry|2026-07-06

1 file