SEC Form 4 · accession 0001193125-26-329807
ExchangeRight Income Fund
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David Allan Fisher
Director
Period of report
Jul 30, 2026
Accepted (ET)
Aug 3, 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 25 Common UnitsF1,F2,F3 | — | Jul 30, 2026 | A | 5,743 | A | — | — | Class I Common Shares | — | 5,743 | 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 July 30, 2026 by and among ExchangeRight Net Leased Portfolio 25 DST, a Delaware statutory trust ("DST") and the Operating Partnership, on July 30, 2026, the Operating Partnership issued 5,742.8675 Units to the Reporting Person as the merger consideration in exchange for 0.33 Class 1 Beneficial Interests in the DST held by the Reporting Person.
- F3Owned by DLF Investments, LLC, an Iowa LLC owned 33.33% by David A. Fisher Revocable Trust, 33.33% by Lisa M. Fisher Revocable Trust, and 33.33% by an Irrevocable Trust with David and Lisa's children with Dave Van Steenis as the Trustee. David and Lisa control all decisions made by DLF Investments.
Remarks
Exhibit 24 - Power of Attorney