SEC Form 4 · accession 0001193125-26-284315
ExchangeRight Income Fund
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Joshua Ungerecht
Director
Period of report
Jun 25, 2026
Accepted (ET)
Jun 26, 2026 · 11:00 am EDT
Rule 10b5-1 plan
box not checked
Issuer CIK
0001771514
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NLP 49 Common UnitsF1,F2 | — | Jun 25, 2026 | A | 3,804 | A | — | — | Class I Common Shares | — | 3,804 | D |
| NLP 49 Common UnitsF1,F2,F3 | — | Jun 25, 2026 | A | 6,638 | A | — | — | Class I Common Shares | — | 6,638 | I |
Explanation of responses
- F1The reported NLP Common Units (the "Units") were issued pursuant to the Amendment to Classify Common Units dated March 18, 2026 to the Amended and Restated Limited Partnership Agreement (as amended, the "Partnership Agreement") of ExchangeRight Income Fund Operating Partnership, LP (the "Operating Partnership"). Under the Partnership Agreement, the holders of Units do not have any rights to convert their Units into units of any other class or series of units of, or any other securities or partnership interests in, the Operating Partnership. In addition, the holders of Units will not have any redemption rights under the Partnership Agreement, nor is any specific number of Common Shares of Beneficial Interest (the "Common Shares") of ExchangeRight Income Fund ("Registrant") deemed to underlie each Unit. However, the Units may be deemed to derive their value from the Class I Common Shares of the Registrant, and therefore are reported on this Form 4. The Units have no expiration date.
- F2Pursuant to that certain Agreement and Plan of Merger dated June 25, 2026 by and among ExchangeRight Net Leased Portfolio 49 DST, a Delaware statutory trust ("DST") and the Operating Partnership, on June 25, 2026, the Operating Partnership issued these Units to the Reporting Person as the merger consideration in exchange for 0.50 Class 1 Beneficial Interests in the DST held by the Reporting Person.
- F3The reported shares are held in a revocable trust for the benefit of Mr. Ungerecht and his wife and children. Mr. Ungerecht is the co-trustee of the revocable trust, along with his wife, which holds the shares, and in this capacity he shared voting and dispositive power with his wife with respect to the shares. Mr. Ungerecht disclaims beneficial ownership with respect to the shares directly held by this revocable trust.
Remarks
Exhibit 24 - Power of Attorney