Independence Realty Trust director sells 500 shares under 10b5-1 plan

Rhea-AI Filing Summary

Insider sale under pre-arranged 10b5-1 plan. Richard D. Gebert, a director of Independence Realty Trust, Inc. (IRT), reported a sale of 500 shares of the issuer's common stock on 09/02/2025 at a reported price of $17.88 per share. After the transaction, Mr. Gebert beneficially owns 41,372 shares, held directly.

The filing notes the sale was executed pursuant to a 10b5-1(c) trading plan dated 12/05/2024, indicating the transactions were preplanned. The Form 4 was signed by an attorney-in-fact on behalf of the reporting person.

Positive

• Transaction executed under a documented 10b5-1(c) plan dated 12/05/2024, which supports procedural transparency
• Detailed disclosure of post-transaction beneficial ownership (41,372 shares) and precise trade terms ($17.88 per share) enhance transparency

Negative

• None.

Insights

Financial Analyst

TL;DR: Small, pre-planned insider sale; ownership remains substantive and the trade appears procedural rather than material.

Gebert sold 500 shares at $17.88 under a 10b5-1 plan established on 12/05/2024, leaving 41,372 shares beneficially owned. The sale represents a small percentage of his post-transaction holdings (~1.2%), suggesting limited near-term impact on equity supply or signaling. Because the trade was executed under a documented trading plan, it reduces concerns about opportunistic timing by the insider. No derivative transactions or amendments are reported.

Corporate Governance Expert

TL;DR: Use of a 10b5-1 plan improves governance transparency; the transaction size is minor relative to holdings.

The disclosure explicitly states the sale was made pursuant to a 10b5-1(c) plan dated 12/05/2024, which provides an affirmative defense against insider trading allegations if properly adopted. The Form 4 clarifies direct ownership and the exact post-sale share count, supporting clear reporting practices. There are no additional related-party or derivative holdings disclosed that would complicate the insider's position.

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).

X

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^*

Gebert Richard D

(Last) (First) (Middle)

1835 MARKET STREET

SUITE 2601

(Street)

PHILADELPHIA PA 19103

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
INDEPENDENCE REALTY TRUST, INC. [ IRT ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/02/2025

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 stock	09/02/2025		S		500	D	$17.88(1)	41,372	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. The sale was made pursuant to the adoption of a 10b5-1(c) plan dated 12-05-2024.

	/s/ James J. Sebra, attorney-in-fact	09/02/2025
	** 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 did IRT director Richard D. Gebert sell on 09/02/2025?

He sold 500 shares of Independence Realty Trust (IRT) common stock at a reported price of $17.88 per share.

Was the sale by the IRT director part of a 10b5-1 plan?

Yes. The Form 4 states the sale was executed pursuant to a 10b5-1(c) trading plan dated 12/05/2024.

How many IRT shares does Richard D. Gebert own after the sale?

The filing reports he beneficially owns 41,372 shares following the reported transaction.

Who signed the Form 4 for the reporting person?

The Form 4 was signed by James J. Sebra, attorney-in-fact on 09/02/2025.

Does the Form 4 report any derivative transactions or additional holdings?

No. The filing contains only a non-derivative sale of common stock and does not report any derivative securities.