Warren Thomas - Aug 31, 2023 Form 4 Insider Report for ExchangeRight Income Fund (NONE)

Role
Director
Signature
/s/ Nicholas Partenza, as Attorney-in-Fact
Stock symbol
NONE
Transactions as of
Aug 31, 2023
Transactions value $
$137,193
Form type
4
Date filed
10/17/2023, 04:00 PM
Previous filing
Jun 26, 2023
Next filing
Apr 1, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding NONE Class A Common Shares of beneficial interest 1.91K Aug 31, 2023 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction NONE Operating Partnership Units Other $137K +4.89K +9.98% $28.05* 53.9K Aug 31, 2023 Class I Common Shares of beneficial interest 4.89K By W&R Thomas, LLC F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents common units of limited partnership interest in ExchangeRight Income Fund Operating Partnership, LP (the "Operating Partnership") ("Operating Partnership Units"), which may, subject to certain restrictions, be exchanged for a corresponding number of Class I Common Shares of beneficial interest, $0.01 par value per share, of ExchangeRight Income Fund. Operating Partnership Units do not expire.
F2 The Operating Partnership Units reported herein were acquired by W&R Thomas, LLC ("WRT"), which is a family limited liability company owned by Mr. Thomas and his spouse, in connection with the merger of a Delaware Statutory Trust ("DST") in which WRT held an interest and a wholly-owned subsidiary of the Operating Partnership (the "Merger"). The Merger closed on August 31, 2023. Pursuant to the Merger, WRT received the right to elect either cash or Operating Partnership Units in exchange for its interest in the DST. In the Merger, WRT elected to receive Operating Partnership Units in exchange for its DST interests.
F3 Represents Operating Partnership Units held directly by WRT, which is a family limited liability company owned by Mr. Thomas and his spouse. Mr. Thomas is the managing member of WRT, and in this capacity exercises sole voting and dispositive power with respect to the securities held by WRT. Mr. Thomas disclaims beneficial ownership with respect to the securities directly held by WRT.