Christine J. Mastandrea - Jun 30, 2021 Form 4 Insider Report for Whitestone REIT (WSR)

Role: EVP CORPORATE STRATEGY
Signature: /s/ David K. Holeman, Attorney-in-Fact for Christine J. Mastandrea
Stock symbol: WSR
Transactions as of: Jun 30, 2021
Transactions value $: -$7,244
Form type: 4
Date filed: 7/1/2021, 04:23 PM
Next filing: Aug 2, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	WSR	Common Shares	Award	$0	+30K	+11.28%	$0.00	296K	Jun 30, 2021	Direct	F1
transaction	WSR	Common Shares	Tax liability	-$7.24K	-878	-0.3%	$8.25	295K	Jun 30, 2021	Direct	F2, F3
transaction	WSR	Common Shares	Award	$0	+120K	+8.53%	$0.00	1.53M	Jun 30, 2021	By Spouse	F1, F4
holding	WSR	Common Shares						126K	Jun 30, 2021	By L.P.	F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents restricted common share units granted pursuant to the Company's 2018 Long-Term Equity Incentive Ownership Plan. Such restricted common share units are subject to risk of forfeiture and vest as follows: 1/3rd on June 30, 2022, 1/3rd on June 30, 2023 and 1/3rd on June 30, 2024.
F2	Represents common shares withheld by the Company to satisfy tax withholding obligations in connection with the vesting of certain restricted units previously granted pursuant to the Company's 2018 Long-Term Equity Incentive Ownership Plan.
F3	Per Share value assigned by the Company to the tax withholding shares based on the closing sales price of the common shares on June 30, 2021.
F4	The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.
F5	Represents common shares held by Midwest Development Venture IV, an Illinois limited partnership ("Midwest"). Ms. Mastandrea's spouse, James Mastandrea, owns both a limited partner interest in Midwest and 100% of the equity of the general partner of Midwest. As a result, Ms. Mastandrea may be deemed to be the beneficial owner of the common shares held by Midwest. The reporting person disclaims beneficial ownership in these shares except to the extent of her pecuniary interest therein, and the inclusion of these common shares in this report shall not be deemed an admission of beneficial ownership of all of the reported common shares for purposes of Section 16 or for any other purpose.