Cassinis Enzio A. 4
4 · Cottonwood Communities, Inc. · Filed May 22, 2026
Research Summary
AI-generated summary of this filing
Cottonwood President Enzio Cassinis Receives 6,198 CROP Units
What Happened
- Enzio A. Cassinis, President of Cottonwood Communities, received 6,198.146 common units ("CROP Units") of Cottonwood Residential O.P., LP on May 20, 2026. The Form 4 lists the unit price at $11.36, valuing the issuance at approximately $70,420. This transaction is coded as an award/grant (A) and represents acquisition of a derivative interest rather than an open‑market purchase.
Key Details
- Transaction date and filing: Acquired May 20, 2026; Form 4 filed May 22, 2026 (timely filing).
- Units and value: 6,198.146 CROP Units @ $11.36 each ≈ $70,420. The issuance was based on the most recently determined NAV per unit ($11.3615 as of Feb 28, 2026).
- Consideration: CROP Units were issued to Cassinis as consideration for his ownership interest in APT Cowork, LLC; the Operating Partnership acquired APT for $1.1 million (inclusive of net working capital).
- Shares owned after transaction: Not reported on the provided filing excerpt.
- Transaction type: Derivative award (CROP Units). Approved in advance by the company’s conflicts committee in the manner contemplated by Rule 16b‑3.
Context
- What the units mean: CROP Units are common units of the Operating Partnership that may be redeemed for cash equal to NAV per share or exchanged (at the issuer’s election) one‑for‑one for the Issuer’s Class I common stock. They have no expiration date.
- Investor takeaway: This was a non‑market acquisition tied to the sale of a business interest (receipt of partnership units as consideration), not a stock buy/sell reflecting immediate market sentiment.
Insider Transaction Report
Form 4
Cassinis Enzio A.
President
Transactions
- Award
CROP Units
[F1][F2]2026-05-20$11.36/sh+6,198.146$70,420→ 31,615.593 total(indirect: By LLC)→ Class I Common Stock, par value $0.01 per share (6,198.146 underlying)
Holdings
- 72,721.842
CROP Units
[F1]→ Class I Common Stock, par value $0.01 per share (72,721.842 underlying)
Footnotes (2)
- [F1]Represents common units ("CROP Units") of Cottonwood Residential O.P., LP ("the Operating Partnership"), a Delaware limited partnership of which Cottonwood Communities, Inc., a Maryland corporation (the "Issuer"), is the sole member of the sole general partner. CROP Units may be redeemed for cash equal to the net asset value ("NAV") per share, determined pursuant to valuation procedures adopted by the Issuer's board of directors, of one share of the Issuer's Class I common stock or, at the Issuer's election, for shares of the Issuer's Class I common stock on a one-for-one basis. The CROP Units have no expiration date.
- [F2]The Reporting Person received CROP Units from the Operating Partnership as consideration for his ownership interest in APT Cowork, LLC ("APT"). The transaction was completed pursuant to a Membership Interest Purchase Agreement dated as of May 20, 2026 and effective as of April 1, 2026, pursuant to which the Operating Partnership acquired all of the issued and outstanding membership interests in APT for $1.1 million, inclusive of net working capital. The purchase price was based on a third-party opinion of value and the transaction was approved in advance by the Issuer's conflicts committee in the manner contemplated by Rule 16b-3 under the Securities Exchange Act of 1934, as amended. The issuance of the CROP Units was at the most recently determined NAV per unit of the Operating Partnership at the time the transaction was approved ($11.3615 as of February 28, 2026) and the consideration was allocated to the members consistent with their capital contributions.
Signature
/s/ Adam Larson, attorney-in-fact|2026-05-22