SEC Form 4 · accession 0001179110-18-012410
Sterling Real Estate Trust
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James Wieland
10% Owner · Other
Period of report
Oct 29, 2018
Accepted (ET)
Oct 31, 2018 · 3:23 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001412502
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Limited Partnership UnitsF1,F2,F3,F4 | — | Oct 29, 2018 | G | 75,676 | D | — | — | Common Shares | 75,676 | 1,389,423 | D |
Explanation of responses
- F1Pursuant to the LLLP Agreement of the operating partnership, holders of limited partnership units may, after a two year holding period, elect to have theirlimited partnership units redeemed. Upon a redemption request, Sterling Real Estate Trust has the option to purchase the limited partnership units directly,either in cash or in common shares of beneficial interest at an exchange rate of one-to-one.
- F2Gift of 75,676 units to the Wieland Legacy Trust on October 29, 2018. The reporting person's 3 adult children are beneficiaries of such trust. South Dakota Trust Company, LLC, as Trustee of the Wieland Legacy Trust is independent of the reporting person. The reporting person does not have or share investment control with respect to the securities held by such trust and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose. Mr. James Wieland is not the trustee or a beneficiary under this trust and disclaims beneficial ownership.
- F3These Limited Partnership Units may be redeemed as described under footnote 1 anytime after a two year holding period.
- F4These derivative securities do not have an expiration date.