Christensen Gregg 4

What Happened
Christensen Gregg, Chief Legal Officer and Secretary of Cottonwood Communities, received a grant of 10,493.591 common units of Cottonwood Residential O.P., LP ("CROP Units") on May 20, 2026. The units were reported at $11.36 each for a total value of $119,223 and are recorded as a derivative acquisition (transaction code A). The issuance was consideration related to the Operating Partnership’s acquisition of APT Cowork, LLC.

Key Details

• Transaction date: May 20, 2026; Filing date: May 22, 2026 (filed timely).
• Quantity and price: 10,493.591 CROP Units at $11.36 each; total reported value $119,223.
• Security type: CROP Units — derivative common units of the Operating Partnership (redeemable for cash equal to NAV or exchangeable one-for-one for Issuer Class I common stock; no expiration). (See footnote F1.)
• Reason for issuance: Received as consideration for Gregg’s ownership interest in APT Cowork, LLC in connection with a Membership Interest Purchase Agreement; purchase price and unit issuance based on third‑party valuation and approved by the conflicts committee. (See footnote F2.)
• Beneficial ownership: Gregg disclaims beneficial ownership except to the extent of his pecuniary interest. (See footnote F3.)
• Shares owned after transaction: Not disclosed in this filing.

Context
This was an award/consideration tied to the sale of a privately held business, not an open‑market purchase or sale. CROP Units provide economic exposure and can be redeemed for cash or converted into the Issuer’s Class I common stock on a one‑for‑one basis, so the grant represents compensation/consideration rather than a straightforward stock buy. The transaction was approved in the manner described under Rule 16b‑3.