Centerspace (NYSE: CSR) director converts 1,446 RSUs into 3,193-share holding

Rhea-AI Filing Summary

Centerspace director Hixon Ola Oyinsan reported an exercise of equity awards that converted 1,446 Restricted Stock Units into an equal number of Common Shares of Beneficial Interest. These RSUs represented a contingent right to receive one common share each when they vested.

Following this non-cash derivative exercise, Oyinsan now directly holds 3,193 Common Shares of Beneficial Interest. The filing shows an exercise and conversion of RSUs rather than an open-market purchase or sale of Centerspace shares.

Insights

Equity compensation analyst

Director converted 1,446 RSUs into shares, a routine equity-vesting event.

The filing shows Hixon Ola Oyinsan exercising 1,446 Restricted Stock Units into the same number of common shares at a stated price of $0.0000 per unit, which is typical for RSU vesting as part of director compensation.

After this exercise, Oyinsan holds 3,193 common shares directly, and the derivativeSummary is empty, indicating no remaining RSUs or similar derivatives are reported in this filing. With no open-market buying or selling and modest size, this appears to be a routine compensation-related transaction rather than a directional bet on Centerspace.

Insider Trade Summary

1,446 shares exercised/converted

Mixed 2 txns

Insider Hixon Ola Oyinsan

Role null

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	1,446	$0.00	--
Exercise	Common Shares of Beneficial Interest	1,446	$0.00	--

Holdings After Transaction: Restricted Stock Units — 0 shares (Direct, null); Common Shares of Beneficial Interest — 3,193 shares (Direct, null)

Footnotes (1)

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Key Figures

RSUs exercised: 1,446 units Common shares acquired: 1,446 shares Shares held after transaction: 3,193 shares +2 more

5 metrics

RSUs exercised 1,446 units Restricted Stock Units converted into common shares on 2026-06-01

Common shares acquired 1,446 shares Shares received from RSU exercise on 2026-06-01

Shares held after transaction 3,193 shares Total direct holding after RSU conversion

RSU exercise price $0.0000 per unit Stated conversion or exercise price for RSUs

Exercise transactions 1 derivative exercise transactionSummary exerciseCount related to RSUs

Key Terms

Restricted Stock Units, derivative security, Common Shares of Beneficial Interest, contingent right

4 terms

Restricted Stock Units financial

"The security title is listed as "Restricted Stock Units" for the derivative entry."

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.

derivative security financial

"The transaction code description states "Exercise or conversion of derivative security"."

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

Common Shares of Beneficial Interest financial

"Underlying security title is "Common Shares of Beneficial Interest" for the RSU conversion."

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.

contingent right financial

"Footnote explains each restricted stock unit represents a contingent right to receive one common share."

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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^*

Hixon Ola Oyinsan

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/01/2026

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	06/01/2026		M		1,446(1)	A	$0	3,193	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	06/01/2026		M			1,446(1)	06/01/2026	06/01/2026	Common Shares of Beneficial Interest	1,446	$0	0	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one common share of beneficial interest of Centerspace.

Remarks:

	Bhairav Patel, Attorney in Fact for Ola Oyinsan Hixon	06/02/2026
	** 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 insider transaction did Centerspace (CSR) director Hixon Ola Oyinsan report?

Director Hixon Ola Oyinsan reported exercising 1,446 Restricted Stock Units into 1,446 Common Shares of Beneficial Interest. This is a derivative exercise/conversion event, not an open-market buy or sell of Centerspace stock.

How many Centerspace (CSR) shares does Hixon Ola Oyinsan hold after this Form 4?

After the reported transaction, Hixon Ola Oyinsan directly holds 3,193 Common Shares of Beneficial Interest in Centerspace. This total reflects the addition of 1,446 shares acquired through the exercise and conversion of Restricted Stock Units.

Was the Centerspace (CSR) Form 4 transaction a stock purchase or sale?

The Form 4 shows no open-market purchase or sale. Instead, it records a derivative exercise/conversion where 1,446 Restricted Stock Units were converted into 1,446 common shares as part of equity compensation for the director.

What does each Centerspace (CSR) Restricted Stock Unit represent in this Form 4?

Each Restricted Stock Unit represents a contingent right to receive one common share of beneficial interest of Centerspace. When these RSUs vest and are exercised, they convert into common shares on a one-for-one basis, as described in the footnote.

Did Hixon Ola Oyinsan retain any derivative securities of Centerspace (CSR) after the transaction?

The derivativeSummary in the Form 4 is empty, indicating no remaining derivative securities such as unexercised Restricted Stock Units are reported for Hixon Ola Oyinsan following this 1,446-unit RSU exercise and conversion event.