Hanks Stan 4
4 · Cottonwood Communities, Inc. · Filed May 22, 2026
Research Summary
AI-generated summary of this filing
Cottonwood Communities CDO Stan Hanks Receives 1,251 CROP Units
What Happened
- Stan Hanks, Chief Development Officer of Cottonwood Communities, was issued 1,251.428 common units ("CROP Units") of the Operating Partnership on 2026-05-20. The units were recorded at $11.36 each, with an aggregate value of approximately $14,218. This was an acquisition (transaction code A) — units were received as non‑market consideration, not an open‑market purchase.
Key Details
- Transaction date: 2026-05-20; Form 4 filed 2026-05-22 (timely).
- Amount: 1,251.428 CROP Units at $11.36 per unit; total ~$14,218.
- Post-transaction holdings: not stated in the provided filing.
- Footnote summary:
- F1: CROP Units are common units of Cottonwood Residential O.P., LP; they may be redeemed for cash equal to NAV per share or converted (one-for-one at the Issuer’s election) into Class I common stock; units have no expiration.
- F2: Units were issued as consideration for Hanks’s ownership interest in APT Cowork, LLC under a Membership Interest Purchase Agreement dated May 20, 2026 (effective April 1, 2026). The Operating Partnership acquired APT for $1.1M (inclusive of net working capital); the issuance used the most recently determined NAV per unit ($11.3615 as of Feb 28, 2026). The transaction was approved by the issuer’s conflicts committee per Rule 16b-3.
Context
- This is a derivative/unit issuance in exchange for business ownership (consideration for selling APT), not an open‑market buy or sale; such transactions reflect deal consideration or compensation rather than straightforward insider buying/selling. Derivative units can typically be converted or redeemed into common stock per the terms noted above.
Insider Transaction Report
Form 4
Hanks Stan
Chief Development Officer
Transactions
- Award
CROP Units
[F1][F2]2026-05-20$11.36/sh+1,251.428$14,218→ 91,488.97 total→ Class I Common Stock, par value $0.01 per share (1,251.428 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