Carroll James A 4

What Happened

• James A. Carroll, a director of AH Realty Trust, Inc. (AHRT), reported exercising/converting 4,981 in‑the‑money derivative units on July 1, 2026. The filing shows both an acquisition and a disposition of 4,981 units at $0.00 under transaction code X (exercise/conversion of a derivative). No cash proceeds or exercise price were reported.

Key Details

• Transaction date: 2026-07-01; Form 4 filed: 2026-07-06 (appears later than the typical 2‑business‑day Form 4 deadline).
• Amounts: 4,981 units acquired and 4,981 units disposed; price reported $0.00 for both entries.
• Transaction code: X (exercise/conversion of a derivative instrument).
• Shares owned after transaction: not specified in the supplied filing details.
• Footnotes of note:
  • F1/F3: These were Time‑Based LTIP Units granted July 1, 2024 and converted into Common Units at the holder’s election.
  • F2/F4: Common Units can be redeemed for cash equal to the market value of one share or, at the company’s election, converted into shares; Common Units have no expiration and may be tendered for redemption.

Context

• This was a conversion of awarded LTIP units into Common Units (a derivative exercise), not an open‑market sale. The report does not show any cash sale of the resulting units or proceeds; it documents the conversion/exercise itself.
• For retail investors: conversions of LTIP units often reflect vesting and standard executive compensation processes rather than a directional trade (buying stock) or a sale to realize cash. The filing date is several days after the transaction date, which may indicate a late Form 4 filing.