Centerspace (NYSE: CSR) CFO exercises RSUs, retains 9,062 shares

Rhea-AI Filing Summary

Centerspace EVP and CFO Bhairav Patel exercised 1,831 Restricted Stock Units into an equal number of Common Shares of Beneficial Interest on March 31, 2026. To cover taxes on the vesting, 637 common shares were withheld at $57.45 per share rather than sold in the open market.

After these compensation-related transactions, Patel directly holds 9,062 common shares. The filing reflects routine equity vesting and associated tax withholding rather than discretionary open-market buying or selling.

Insider Trade Summary

1,831 shares exercised/converted

Mixed 3 txns

Insider Patel Bhairav

Role EVP and CFO

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	1,831	$0.00	--
Exercise	Common Shares of Beneficial Interest	1,831	$0.00	--
Tax Withholding	Common Shares of Beneficial Interest	637	$57.45	$37K

Holdings After Transaction: Restricted Stock Units — 0 shares (Direct); Common Shares of Beneficial Interest — 9,699 shares (Direct)

Footnotes (1)

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Key Figures

RSUs exercised: 1,831 units Shares withheld for taxes: 637 shares Tax withholding price: $57.45 per share +1 more

4 metrics

RSUs exercised 1,831 units Restricted Stock Units converted to common shares on March 31, 2026

Shares withheld for taxes 637 shares Common shares withheld at $57.45 to cover tax liability

Tax withholding price $57.45 per share Value used for 637 shares withheld for taxes

Shares owned after transaction 9,062 shares Direct common share holdings after RSU vesting and tax withholding

Key Terms

Restricted Stock Units, tax-withholding disposition, Exercise or conversion of derivative security, Common Shares of Beneficial Interest

4 terms

Restricted Stock Units financial

"security_title: "Restricted Stock Units""

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

tax-withholding disposition financial

"transaction_action: "tax-withholding disposition""

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

Exercise or conversion of derivative security financial

"transaction_code_description: "Exercise or conversion of derivative security""

Common Shares of Beneficial Interest financial

"underlying_security_title: "Common Shares of Beneficial Interest""

Common Shares of Beneficial Interest are units that represent ownership in a company or organization, like owning a piece of a pie. They give investors voting rights and a chance to share in profits, making them important for those looking to invest and have a say in how the organization is run.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED 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^*

Patel Bhairav

(Last) (First) (Middle)

C/O CENTERSPACE

1324 20TH AVENUE SW

(Street)

MINOT NORTH DAKOTA 58701

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
CENTERSPACE [ CSR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP and CFO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
			Code	V	Amount	(A) or (D)	Price
Common Shares of Beneficial Interest	03/31/2026		M		1,831	A	$0	9,699	D
Common Shares of Beneficial Interest	03/31/2026		F		637(1)	D	$57.45	9,062	D

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	$0	03/31/2026		M			1,831	03/31/2026	03/31/2026	Common Shares of Beneficial Interest	1,831	$0	0	D

Explanation of Responses:

1. Shares withheld for payment of taxes in connection with the vesting of restricted stock units.

Remarks:

	Bhairav Patel	04/02/2026
	** Signature of Reporting Person	Date
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)

FAQ

What did Centerspace (CSR) CFO Bhairav Patel report in this Form 4?

Bhairav Patel reported the vesting and exercise of 1,831 Restricted Stock Units. These units converted into common shares, reflecting routine equity compensation, with some of the resulting shares withheld to satisfy tax obligations associated with the vesting event.

How many Centerspace shares did the CFO receive and retain from the RSU vesting?

Patel received 1,831 common shares from vested RSUs. Of these, 637 shares were withheld for taxes, leaving him with direct ownership of 9,062 Centerspace common shares after the transactions, as disclosed in the filing’s post-transaction holdings.

Were any of the Centerspace (CSR) shares in this Form 4 sold on the open market?

No open-market sales are reported in this Form 4. The 637 common shares shown as a disposition were withheld by the company at $57.45 per share to cover tax liabilities tied to the RSU vesting, not sold to public investors.

What does the tax-withholding transaction mean in the Centerspace CFO’s filing?

The tax-withholding transaction reflects shares used to pay taxes on vested RSUs. Specifically, 637 common shares were withheld at $57.45 per share, reducing the number of shares Patel kept while settling his tax obligation arising from the equity compensation event.

How many Centerspace shares does CFO Bhairav Patel own after these transactions?

After the RSU vesting and tax withholding, Patel directly owns 9,062 common shares. This post-transaction figure includes the net shares remaining following the conversion of 1,831 Restricted Stock Units and the withholding of 637 shares to cover related taxes.