Director Lori Wittman gains 2,497 LTIP Units at Chiron Real Estate (XRN) in equity grant

Rhea-AI Filing Summary

Wittman Lori reported acquisition or exercise transactions in this Form 4 filing.

Chiron Real Estate Inc. director Lori Wittman received a grant of 2,497 LTIP Units, which are partnership units in Chiron Real Estate LP, the company’s operating partnership. These units were granted at no cash cost under the 2016 Equity Incentive Plan and increase her total LTIP Units to 12,414.

The LTIP Units vest on May 20, 2027, contingent on her continued board service. Once vested and after achieving capital account parity, they can be exchanged for cash or, at the company’s election, for an equal number of common shares. The LTIP figures are presented on a post–1-for-5 reverse stock split basis following an adjustment made on September 19, 2025.

Insights

Equity compensation analyst

Routine director equity grant via LTIP Units with future stock-settlement flexibility.

Director Lori Wittman received 2,497 LTIP Units at a grant price of $0.00 per unit under the 2016 Equity Incentive Plan. Following this award, she holds 12,414 LTIP Units, all tied to continued board service and long-term alignment with shareholders.

The units vest on May 20, 2027, and once vested and at capital account parity, can be exchanged for cash or, at the issuer’s election, common stock on a one-for-one basis. This design links director compensation to partnership and share performance rather than immediate cash.

The disclosure also notes a prior 1-for-5 reverse stock split on September 19, 2025, with LTIP amounts now shown on a post-split basis. Overall, this appears to be a standard, non-cash, equity-based grant rather than an open-market transaction, so its standalone impact on the investment case is limited.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Wittman Lori

Role null

Type	Security	Shares	Price	Value
Grant/Award	LTIP Unit (Right to Buy)	2,497	$0.00	--

Holdings After Transaction: LTIP Unit (Right to Buy) — 12,414 shares (Direct, null)

Footnotes (1)

1. Represents units of limited partnership interest ("LTIP Units") in Chiron Real Estate LP (the "OP"), the operating partnership of the Issuer. All of the LTIP Units vest on May 20, 2027, subject to the Reporting Person's continued service as a director on such date. The LTIP Units were issued pursuant to the Issuer's 2016 Equity Incentive Plan (as amended from time to time) and have no expiration date. As described in the OP's partnership agreement, vested LTIP Units that have achieved capital account parity may be exchanged at any time after vesting for cash or, at the election of the Issuer, for shares of Common Stock on a one-for-one basis. LTIP Units have no expiration date. On September 19, 2025, the Issuer effected a reverse stock split of the Issuer's issued and outstanding shares of Common Stock at a ratio of 1-for-5. As a result, the amount of LTIP Units reflected in this filing is on a post-split adjusted basis.

Key Figures

LTIP Units granted: 2,497 units LTIP Units after grant: 12,414 units Grant price per LTIP Unit: $0.00 per unit +3 more

6 metrics

LTIP Units granted 2,497 units Grant to director on May 20, 2026

LTIP Units after grant 12,414 units Total LTIP Units following transaction

Grant price per LTIP Unit $0.00 per unit Non-cash equity award

Underlying common stock 2,497 shares One-for-one with LTIP Units upon exchange

Vesting date May 20, 2027 Service-based vesting for LTIP Units

Reverse stock split ratio 1-for-5 Reverse split effective September 19, 2025

Key Terms

LTIP Units, equity incentive plan, reverse stock split, capital account parity

4 terms

LTIP Units financial

"Represents units of limited partnership interest ("LTIP Units") in Chiron Real Estate LP"

LTIP units are awards given to executives and employees as part of a long-term incentive plan; they act like deferred bonuses that convert into company shares or cash only if the business meets set performance or time requirements. Investors care because LTIP units tie management pay to future results, can increase the number of outstanding shares (dilution) when they vest, and create ongoing compensation expense that can affect earnings and shareholder value.

equity incentive plan financial

"The LTIP Units were issued pursuant to the Issuer's 2016 Equity Incentive Plan"

An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.

reverse stock split financial

"the Issuer effected a reverse stock split of the Issuer's issued and outstanding shares"

A reverse stock split is when a company reduces the number of its shares outstanding, making each share more valuable. For example, if you own 100 shares worth $1 each, a 1-for-10 reverse split would turn your 100 shares into 10 shares worth $10 each. Companies often do this to boost their stock price and appear more stable to investors.

capital account parity financial

"vested LTIP Units that have achieved capital account parity may be exchanged"

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^*

Wittman Lori

(Last) (First) (Middle)

7373 WISCONSIN AVENUE, SUITE 800

(Street)

BETHESDA MARYLAND 20814

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Chiron Real Estate Inc. [ XRN ]

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)
05/20/2026

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

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
LTIP Unit (Right to Buy)(1)	(2)	05/20/2026		A		2,497		(2)	(2)	Common Stock	2,497	$0	12,414(3)	D

Explanation of Responses:

1. Represents units of limited partnership interest ("LTIP Units") in Chiron Real Estate LP (the "OP"), the operating partnership of the Issuer. All of the LTIP Units vest on May 20, 2027, subject to the Reporting Person's continued service as a director on such date. The LTIP Units were issued pursuant to the Issuer's 2016 Equity Incentive Plan (as amended from time to time) and have no expiration date.

2. As described in the OP's partnership agreement, vested LTIP Units that have achieved capital account parity may be exchanged at any time after vesting for cash or, at the election of the Issuer, for shares of Common Stock on a one-for-one basis. LTIP Units have no expiration date.

3. On September 19, 2025, the Issuer effected a reverse stock split of the Issuer's issued and outstanding shares of Common Stock at a ratio of 1-for-5. As a result, the amount of LTIP Units reflected in this filing is on a post-split adjusted basis.

	/s/ Jamie Barber, as Attorney-in-Fact	05/21/2026
	** 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 Chiron Real Estate Inc. (XRN) director Lori Wittman receive in this Form 4 filing?

Lori Wittman received a grant of 2,497 LTIP Units, which are partnership units in Chiron Real Estate LP. These units were issued at no cash cost under the company’s 2016 Equity Incentive Plan as part of her director compensation.

When do Lori Wittman’s 2,497 LTIP Units at Chiron Real Estate (XRN) vest?

All 2,497 LTIP Units vest on May 20, 2027, if Lori Wittman continues serving as a director through that date. Vesting is therefore service-based, tying the award to her ongoing role on Chiron Real Estate’s board of directors.

How can Chiron Real Estate (XRN) LTIP Units be settled after vesting?

Once vested and after achieving capital account parity, the LTIP Units may be exchanged for cash or, at Chiron Real Estate’s election, for common stock on a one-for-one basis. This gives the company flexibility to settle awards in either cash or shares.

How many LTIP Units does Lori Wittman hold after this Chiron Real Estate (XRN) grant?

After the grant, Lori Wittman holds a total of 12,414 LTIP Units. This figure reflects all LTIP Units attributed to her following the 2,497-unit award and is presented on a post–reverse-stock-split basis according to the disclosure.

How did Chiron Real Estate’s 2025 reverse stock split affect the LTIP Unit counts?

On September 19, 2025, Chiron Real Estate effected a 1-for-5 reverse stock split of its common shares. As a result, the LTIP Unit amounts reported for Lori Wittman are adjusted to reflect the post-split structure rather than the pre-split unit counts.