Turner R. David 4

What Happened
Turner R. David, a director of Highlands REIT, Inc., was issued a grant of 224,138 shares on May 22, 2026 under the company's director compensation program. The shares were reported at a per-share price of $0.00 (total cash value $0.00); this transaction is coded as an award/grant (A) rather than a purchase or sale.

Key Details

• Transaction date: 2026-05-22 (reported on Form 4 filed 2026-05-26). Filing was within the typical reporting window.
• Transaction type: Award/Grant (code A).
• Shares issued: 224,138 shares at $0.00 per share (total reported cash value $0).
• Shares owned after transaction: Not reported in the provided summary.
• Footnote: Shares were issued under the Highlands REIT, Inc. 2016 Incentive Award Plan pursuant to the Highlands REIT, Inc. Director Compensation Program.
• No indication of a sale, purchase for cash, option exercise, or 10b5-1 plan in this filing.

Context
Grants to directors are typically compensation-related (e.g., to align directors with shareholders) and are different from open-market purchases or sales; they do not necessarily signal the insider’s short-term view of the stock. Because this was an award issued at $0.00, it reflects an issuance of shares as compensation rather than a market transaction involving cash.