Shekell Jeffrey L. 4

What Happened
Jeffrey L. Shekell, a director of Highlands REIT, Inc., was granted 224,138 shares on May 22, 2026. The shares were issued at $0.00 as an award (transaction code A) under the company's director compensation program; total cash paid = $0. This is an equity award rather than an open‑market purchase or sale.

Key Details

• Transaction date: 2026-05-22 (reported on Form 4 filed 2026-05-26). Filing appears within the standard two-business-day window for Form 4s.
• Transaction type/code: Award/Grant (A). Price per share: $0.00. Total reported cash value: $0.
• Shares granted: 224,138. Shares owned after transaction: not specified in the provided filing summary.
• Footnote: Shares issued pursuant to the Highlands REIT, Inc. 2016 Incentive Award Plan under the Highlands REIT Director Compensation Program (see footnote F1).
• No 10b5-1 plan, tax‑withholding sale, or cashless exercise noted in the filing summary.

Context
Director awards are typically part of routine compensation and do not by themselves indicate a buy or sell signal from management. This transaction reflects compensation in stock rather than a cash purchase; retail investors should view it as remuneration to a board member rather than a direct insider purchase of shares on the open market.