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  4. [Form 4] AH Realty Trust, Inc. Insider Trading Activity

Director at AH Realty Trust (AHRT) receives 11,695 Time-Based LTIP units

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

AH Realty Trust, Inc. director Theodore Bigman received a grant of 11,695 Time-Based LTIP Units as equity compensation. These units are tied to an equal number of shares of common stock and were awarded at no exercise or conversion price.

The grant consists of unvested Time-Based LTIP Units that will fully vest on the date of the company’s 2027 Annual Meeting of Stockholders. After vesting and subject to the operating partnership agreement, the units can be converted into common units and ultimately redeemed for cash or, at the company’s election, shares of common stock.

Positive

  • None.

Negative

  • None.
Insider BIGMAN THEODORE
Role null
Type Security Shares Price Value
Grant/Award Time-Based LTIP Units 11,695 $0.00 --
Holdings After Transaction: Time-Based LTIP Units — 11,695 shares (Direct, null)
Footnotes (1)
  1. Represents Time-Based LTIP Units ("Time-Based LTIP Units") in AH Realty Trust, LP (the "Operating Partnership"), the operating partnership of AH Realty Trust, Inc. (the "Company"), and of which the Company is the general partner. Under the agreement of limited partnership of the Operating Partnership (the "OP Agreement") and subject to conditions set forth in the OP Agreement, following the date on which the Time-Based LTIP Units vest, Time-Based LTIP Units are convertible into common units of limited partnership interest in the Operating Partnership ("Common Units"), at the holder's option. Under the award agreement pursuant to which the Time-Based LTIP Units were granted to the reporting person, except in connection with a Change of Control (as defined in the OP Agreement), the Time-Based LTIP Units may not be converted to Common Units until two years following the date of grant. Time-Based LTIP Units have no expiration date. Each Common Unit is redeemable for cash equal to the then-current market value of one share of the Company's common stock or, at the election of the Company, one share of the Company's common stock. Common Units have no expiration date. Represents a grant of unvested Time-Based LTIP Units, all of which will vest on the date of the Company's 2027 Annual Meeting of Stockholders.
LTIP Units Granted 11,695 units Time-Based LTIP Units granted to director on 2026-06-17
Underlying Common Stock 11,695 shares Shares of common stock underlying the Time-Based LTIP Units
Exercise/Conversion Price $0.0000 per unit Price for Time-Based LTIP Units and underlying common stock
Post-transaction LTIP Holdings 11,695 units Total Time-Based LTIP Units held after this grant
Time-Based LTIP Units financial
"Represents Time-Based LTIP Units ("Time-Based LTIP Units") in AH Realty Trust, LP"
Operating Partnership financial
"in AH Realty Trust, LP (the "Operating Partnership"), the operating partnership of AH Realty Trust, Inc."
An operating partnership is a separate legal entity set up to own and run a company’s core assets and day-to-day businesses, while investors hold interests indirectly through the parent company. Think of it like a dedicated garage that actually stores and services the cars while the owner keeps the dealership; it matters to investors because it affects how income, taxes, liability and voting rights are allocated and therefore can influence distributions and risk.
Common Units financial
"Time-Based LTIP Units are convertible into common units of limited partnership interest in the Operating Partnership ("Common Units")"
Common units are the basic ownership stakes in a company, limited partnership, or trust that function like common stock: they give holders a claim on profits and often voting rights. Think of them as the ordinary seats at a table—the most directly affected by the business’s success or failure, so they typically offer higher upside but carry greater risk than preferred claims or creditors, which matters to investors evaluating potential return and safety.
Change of Control financial
"except in connection with a Change of Control (as defined in the OP Agreement)"
A change of control occurs when the ownership or management of a company shifts significantly, such as through a sale, merger, or acquisition, resulting in new leadership or ownership structure. This change can impact the company's direction and decision-making, which is important for investors because it may affect the company's stability, strategy, and future prospects.
redeemable for cash financial
"Each Common Unit is redeemable for cash equal to the then-current market value of one share"
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
BIGMAN THEODORE
(Last)(First)(Middle)
C/O AH REALTY TRUST, INC.
4605 COLUMBUS STREET
(Street)
VIRGINIA BEACH VIRGINIA 23462
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
AH Realty Trust, Inc. [ AHRT ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/17/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Time-Based LTIP Units(1)(2)06/17/2026A11,695(3) (1)(2) (1)(2)Common Stock11,695$011,695D
Explanation of Responses:
1. Represents Time-Based LTIP Units ("Time-Based LTIP Units") in AH Realty Trust, LP (the "Operating Partnership"), the operating partnership of AH Realty Trust, Inc. (the "Company"), and of which the Company is the general partner. Under the agreement of limited partnership of the Operating Partnership (the "OP Agreement") and subject to conditions set forth in the OP Agreement, following the date on which the Time-Based LTIP Units vest, Time-Based LTIP Units are convertible into common units of limited partnership interest in the Operating Partnership ("Common Units"), at the holder's option. Under the award agreement pursuant to which the Time-Based LTIP Units were granted to the reporting person, except in connection with a Change of Control (as defined in the OP Agreement), the Time-Based LTIP Units may not be converted to Common Units until two years following the date of grant. Time-Based LTIP Units have no expiration date.
2. Each Common Unit is redeemable for cash equal to the then-current market value of one share of the Company's common stock or, at the election of the Company, one share of the Company's common stock. Common Units have no expiration date.
3. Represents a grant of unvested Time-Based LTIP Units, all of which will vest on the date of the Company's 2027 Annual Meeting of Stockholders.
Remarks:
/s/ Matthew T. Barnes-Smith, as Attorney-in-Fact for Theodore R. Bigman06/22/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did AH Realty Trust (AHRT) report on this Form 4?

AH Realty Trust reported a grant of 11,695 Time-Based LTIP Units to director Theodore Bigman. These units are derivative equity awards that can later convert into common units and ultimately be redeemed for cash or common stock, subject to vesting and partnership agreement terms.

How many Time-Based LTIP Units did the AHRT director receive and at what price?

The director received 11,695 Time-Based LTIP Units at an exercise and conversion price of $0.0000 per unit. The award represents compensation rather than an open-market purchase, aligning the director’s interests with shareholders through potential future conversion into common-equity-linked interests.

When will the granted AHRT Time-Based LTIP Units vest for the director?

All 11,695 granted Time-Based LTIP Units will vest on the date of AH Realty Trust’s 2027 Annual Meeting of Stockholders. Vesting must occur before the units can convert into common units under the operating partnership agreement, creating a multi-year incentive horizon for the director.

Can the AHRT Time-Based LTIP Units be converted immediately into common units or stock?

The Time-Based LTIP Units cannot be converted immediately. Under the award and partnership agreements, they first must vest, and—except in a Change of Control—cannot be converted into common units until two years after the grant date, providing a long-term alignment mechanism.

What can AHRT common units from these LTIP awards be exchanged for after conversion?

Each common unit obtained from the Time-Based LTIP Units is redeemable for cash equal to the then-current market value of one AH Realty Trust common share or, at the company’s election, one share of common stock, offering flexibility in settlement form once all conditions are met.

Does this AHRT Form 4 reflect a market buy or sell by the director?

The filing does not reflect a market buy or sell. It reports a compensation-related grant classified as a derivative transaction with a grant or award acquisition code, indicating the director received Time-Based LTIP Units rather than trading existing shares on the open market.