Campbell Kerry G. 4

What Happened
Kerry G. Campbell, a director of Wheeler Real Estate Investment Trust, Inc. (WHLR), disposed of 168 shares at $37.50 each on March 10, 2026, for total proceeds of $6,300. The filing labels the transaction as “Derivative” and the sale is reported as an open market or private sale (code S). Sales are often routine and generally less informative about insider sentiment than purchases.

Key Details

• Transaction date: 2026-03-10; Price: $37.50 per share; Total value: $6,300.
• Filing date: 2026-03-11 (filed within the standard Form 4 reporting window).
• Shares owned after transaction: not specified in the provided filing data.
• Footnotes in the filing:
  • F1: Series D Preferred Stock converts into 0.00000005 common shares per preferred share (implying a very high implied conversion price).
  • F2: 7.00% Subordinated Convertible Notes due 2031 convert at $1.03667 per share (24.115672 common shares per $25 principal).
  • F3: Interest on the Notes may be paid in cash or in preferred shares; the reported common-share equivalents are based on the outstanding principal of the Notes held.
• No 10b5-1 plan, tax-withholding sale, or gift notation is disclosed in the provided summary.

Context
Because the transaction is labeled “Derivative,” the filing associates the reported share amount with convertible securities (preferred stock and convertible notes) that convert into common stock at the rates shown in the footnotes. The entry does not provide additional information on whether shares sold were recently converted, or whether the sale reflects routine portfolio management.