[Form 4] iREIT MarketVector Quality REIT Index ETF Insider Trading Activity

Rhea-AI Filing Summary

Bhairav Patel, EVP and CFO of CENTERSPACE (CSR), reported a non-derivative purchase on Form 4: he acquired 500 common shares on 08/08/2025 at a reported price of $54.00 per share. The filing shows his direct beneficial ownership following the transaction as 3,733 shares. No derivative securities are listed and the report appears to cover a single insider purchase.

Positive

• Insider purchase disclosed: 500 shares acquired at $54 per share
• Post-transaction ownership: direct beneficial ownership reported as 3,733 shares
• Clear, single non-derivative transaction: no derivatives listed

Negative

• None.

Insights

Securities Analyst

TL;DR: Insider purchase of 500 CSR shares at $54, modest in size and likely not materially market-moving.

The Form 4 discloses a straightforward non-derivative acquisition: 500 common shares bought at $54 each, raising direct holdings to 3,733 shares. The transaction value (~$27,000) is small relative to typical market-cap context for most issuers, indicating a limited immediate market impact. No options, warrants or other derivative positions were reported.

Corporate Governance Expert

TL;DR: Filing reflects standard Section 16 disclosure and shows compliance; transaction is an insider purchase without accompanying derivative activity.

The report is a single-person Form 4 showing acquisition activity by the EVP and CFO. It demonstrates timely disclosure of insider activity and provides clear detail on post-transaction direct ownership (3,733 shares). There are no indications of secondary transactions, transfers, or derivative instruments in this filing.

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

3100 10TH STREET 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)
	EVP and CFO

3. Date of Earliest Transaction (Month/Day/Year)
08/08/2025

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	08/08/2025		P		500	A	$54	3,733	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:

Remarks:

	Bhairav Patel	08/11/2025
	** 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 transaction did Bhairav Patel report on Form 4 for CENTERSPACE (CSR)?

The Form 4 reports that Bhairav Patel acquired 500 common shares of CENTERSPACE (CSR) on 08/08/2025 at a reported price of $54.00 per share.

How many CSR shares does the reporting person own after the transaction?

After the reported purchase the filing shows direct beneficial ownership of 3,733 shares.

Were any derivative securities reported by the insider in this Form 4?

No. The filing lists a non-derivative common share purchase and no derivative securities were reported.

What is the reporting person’s role at CENTERSPACE (CSR)?

The reporting person, Bhairav Patel, is identified as EVP and CFO of CENTERSPACE.