Centerspace (CSR) CEO Olson granted 9,227 TSR-based shares, 322 withheld for taxes

Rhea-AI Filing Summary

Centerspace President, CEO & Secretary Anne Olson reported equity transactions tied to a performance share award. On February 2, 2026, she received 1,050 common shares of beneficial interest at $0 as the final 10% of a 2023–2025 TSR-based performance award, bringing total payout to 9,227 shares. For this award, the Company’s estimated total shareholder return ranked at the 70.8 percentile versus the FTSE Nareit Equity Index, resulting in a 183.20% of target payout. Also on February 2, 322 shares were withheld at a price of $63.83 per share to cover taxes on vesting. After these transactions, Olson directly owned 27,609 Centerspace common shares of beneficial interest.

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^*

Olson Anne

(Last) (First) (Middle)

C/O CENTERSPACE

1324 20TH AVENUE SW

(Street)

MINOT ND 58701

(City) (State) (Zip)

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)
	President, CEO & Secretary

3. Date of Earliest Transaction (Month/Day/Year)
02/02/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

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

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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	02/02/2026		A		1,050(1)	A	$0	27,931	D
Common Shares of Beneficial Interest	02/02/2026		F		322(2)	D	$63.83(3)	27,609	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

Explanation of Responses:

1. On January 1, 2023, the reporting person was granted a performance share award based on the Company's total shareholder return ("TSR") compared to the FTSE Nareit Equity Index (the "REIT Index") for the measurement period of January 1, 2023 through December 31, 2025. For the measurement period, the Company's estimated TSR was at 70.8 percentile of the benchmark index resulting in a payout of 183.20% of target, or 9,227 shares, being issued under the performance share award. 90% of the performance or 8,177 shares were accelerated and issued on December 26, 2025 and remaining 10% of the performance or 1,050 shares were issued on February 2, 2026.

2. Shares withheld for payment of taxes in connection with the vesting of performance share award.

3. The stock price reflects the fair market value of the Company's common shares of beneficial interest as of February 2, 2026.

Remarks:

	Bhairav Patel, Attorney infact for Anne Olson	02/03/2026
	** 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.

FAQ

What insider transactions did Centerspace (CSR) report for Anne Olson?

Anne Olson reported receiving 1,050 Centerspace common shares on February 2, 2026 from a performance share award and having 322 shares withheld to cover taxes. After these transactions, she directly held 27,609 common shares of beneficial interest in Centerspace.

What is the performance share award described in the Centerspace (CSR) Form 4?

The performance share award was granted on January 1, 2023 and tied to total shareholder return versus the FTSE Nareit Equity Index from 2023–2025. Based on results, it paid out 183.20% of target, issuing 9,227 common shares of beneficial interest to Anne Olson.

How many Centerspace (CSR) shares did Anne Olson ultimately receive from the performance award?

Anne Olson received a total of 9,227 Centerspace common shares from the performance share award. Of these, 8,177 shares were accelerated and issued on December 26, 2025, and the remaining 1,050 shares were issued on February 2, 2026.

Why were 322 Centerspace (CSR) shares withheld in Anne Olson’s Form 4?

322 Centerspace common shares were withheld to pay taxes related to the vesting of the performance share award. These tax-withheld shares are shown with transaction code “F” at a fair market value of $63.83 per share as of February 2, 2026.

What was Centerspace’s performance versus its benchmark in Anne Olson’s award?

For the award period, Centerspace’s estimated total shareholder return was at the 70.8 percentile of the FTSE Nareit Equity Index. This relative performance led to a performance share award payout of 183.20% of target, resulting in 9,227 shares being issued.

How many Centerspace (CSR) shares does Anne Olson hold after these transactions?

After the February 2, 2026 transactions, Anne Olson directly owned 27,609 Centerspace common shares of beneficial interest. This figure reflects both the 1,050 shares received from the performance award and the 322 shares withheld to satisfy related tax obligations.