Cassinis Enzio A. 4

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.