MDRR Form 4: CEO Frank Kavanaugh Buys 22,899 Shares at $12.50

Rhea-AI Filing Summary

Insider purchase reported: Frank Kavanaugh, who serves as Chairman, CEO & President and is a director of Medalist Diversified REIT, Inc. (MDRR), reported on Form 4 that he purchased 22,899 shares of the company on 08/29/2025 at a weighted average price of $12.499 per share, with transaction prices ranging from $12.30 to $12.50. After the purchase, he beneficially owned 58,020 shares. The filing is signed by Mr. Kavanaugh on 08/29/2025 and includes a footnote offering to provide details of the number of shares bought at each price within the disclosed range.

Positive

• Insider purchase: Frank Kavanaugh acquired 22,899 shares, which increases his beneficial ownership to 58,020 shares.
• Transparent pricing disclosure: Filing provides a weighted average price of $12.499 and discloses the $12.30–$12.50 purchase range with an offer to provide per-price breakdowns on request.
• Senior executive participation: The buyer is Chairman, CEO & President, indicating management-level participation in the market for the stock.

Negative

• Materiality unclear: The filing does not state the company’s total outstanding shares, so the economic significance of the purchase relative to total equity cannot be determined.
• No trading-plan disclosure: The Form 4 does not indicate whether transactions were made pursuant to a Rule 10b5-1 trading plan or similar arrangement.

Insights

Financial Analyst

TL;DR: Company insider increased direct holdings by 22,899 shares at ~$12.50, modestly raising insider ownership to 58,020 shares.

This Form 4 documents a purchase coded as "P" on 08/29/2025 by Frank Kavanaugh, the company’s Chairman, CEO & President and a director. The acquisition was executed at a weighted average price of $12.499, with trade prices between $12.30 and $12.50. The filing shows the reporting person now beneficially owns 58,020 shares. From a financial perspective, the disclosure indicates insider buying, which can be interpreted as a confidence signal but the filing alone does not provide context on size relative to outstanding shares, timing rationale, or whether additional purchases are planned.

Corporate Governance Expert

TL;DR: Senior executive and director reported a routine open-market purchase and disclosed price range per SEC requirements.

The Form 4 is properly signed and includes the explanatory footnote about the weighted average price and price range. It identifies the reporting person’s roles and confirms a single-person filing. The disclosure appears procedurally complete for a standard insider purchase; the form does not state whether trades were made under any trading plan or if any trading restrictions applied.

Insider Trade Summary

Net Buyer: 22,899 shares

Net Buy 1 txn

Insider KAVANAUGH FRANK

Role CHAIRMAN, CEO & PRESIDENT

Bought 22,899 shs ($286K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	22,899	$12.499	$286K

Holdings After Transaction: Common Stock — 58,020 shares (Direct)

Footnotes (1)

1. F1. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $12.30 to $12.50, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Frank Kavanaugh report in the Form 4 for MDRR?

He reported purchasing 22,899 shares on 08/29/2025 at a weighted average price of $12.499, increasing his beneficial ownership to 58,020 shares.

What price did the insider pay per share for MDRR purchases?

The weighted average price was $12.499 per share, with individual purchase prices reported in the range $12.30 to $12.50.

What role does the reporting person hold at MDRR?

Frank Kavanaugh is Chairman, Chief Executive Officer & President and a director of Medalist Diversified REIT, Inc.

When was the Form 4 transaction dated and signed?

The transaction and the signature on the Form 4 are dated 08/29/2025.

Does the filing disclose purchases made at multiple prices?

Yes. The footnote states the shares were purchased in multiple transactions at prices ranging from $12.30 to $12.50 and offers to provide a per-price breakdown on request.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 08/29/2025 - 05:02 PM Learn about SEC filing dates

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^*

KAVANAUGH FRANK

(Last) (First) (Middle)

MEDALIST DIVERSIFIED REIT, INC.

POST OFFICE BOX 8436

(Street)

RICHMOND VA 23226

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Medalist Diversified REIT, Inc. [ MDRR ]

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CHAIRMAN, CEO & PRESIDENT

3. Date of Earliest Transaction (Month/Day/Year)
08/29/2025

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	08/29/2025		P		22,899	A	$12.499(1)	58,020	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 price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $12.30 to $12.50, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

	/s/ Frank Kavanaugh	08/29/2025
	** 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.