THOMSEN JOEL S. 4

What Happened Joel S. Thomsen, a trustee of Sterling Real Estate Trust, made a mix of open-market purchases and award/acquisition transactions on 2026-07-15. He purchased 3,921.569 shares at $25.50 ($100,000) and 1,960.784 shares at $25.50 ($50,000) — totaling 5,882.353 shares and $150,000 in market purchases. He also received awards/dividend-reinvestment shares: 417.81 shares (valued at $24.22, $10,119), 39.474 shares (valued at $24.22, $956), and 300 shares issued under the Trustee Compensation Plan (reported at $0.00). In total he acquired ≈6,639.64 shares across all transactions with an aggregate reported value of about $161,075 (cash purchases $150,000 + award value $11,075). Purchases are a straightforward buy signal (cash outlay); the awards and dividend reinvestment are routine compensation/reinvestment events.

Key Details

• Transaction date: 2026-07-15; Form filed: 2026-07-16 (appears timely).
• Open-market purchases: 3,921.569 sh @ $25.50 = $100,000; 1,960.784 sh @ $25.50 = $50,000.
• Awards/acquisitions: 417.81 sh @ $24.22 = $10,119; 39.474 sh @ $24.22 = $956; 300 sh @ $0.00 = $0.
• Total acquired: ~6,639.64 shares; total cash paid for market buys = $150,000; reported award value = $11,075.
• Footnotes: F1 = shares from the dividend investment plan; F2 = shares issued under the Trustee Compensation Plan.
• Shares owned after the transactions: not disclosed in the provided filing.

Context

• The filing shows both cash purchases (open-market buys) and non-cash awards (compensation and dividend reinvestment). Cash purchases are often more informative to investors because they represent direct buying activity; awards and dividend reinvestments are routine.
• No indication of option exercises, gifts, or 10b5‑1 plans in this filing. The trades were reported the next day, so there is no late-filing flag in the provided data.