Medalist Diversified REIT CEO Reports August 2025 Purchases Raising Ownership to 26,639

Rhea-AI Filing Summary

Frank Kavanaugh, Chairman, CEO & President and a director of Medalist Diversified REIT, Inc. (MDRR), reported two open-market purchases of the issuer's common stock in late August 2025. On 08/22/2025 he acquired 1,028 shares at $11.99, and on 08/25/2025 he acquired 2,500 shares at $12.00, increasing his direct beneficial ownership to 26,639 shares. The Form 4 was signed by Mr. Kavanaugh on 08/25/2025.

Positive

• Insider purchases disclosed: The reporting person acquired a total of 3,528 shares across two transactions.
• Complete Section 16 disclosure: Transaction dates, prices, and resulting direct ownership (26,639 shares) are reported.

Negative

• None.

Insights

Financial Analyst

TL;DR: Insider purchases were small in absolute terms and represent routine disclosure rather than material corporate change.

The Form 4 shows two small open-market purchases by the reporting executive, totaling 3,528 shares acquired at approximately $11.99–$12.00 per share, with total post-transaction direct ownership of 26,639 shares. Transaction sizes relative to total shares outstanding are not disclosed in the filing, so materiality to valuation cannot be assessed from this document alone. The disclosure is complete for Section 16 reporting purposes.

Corporate Governance Expert

TL;DR: The filing documents standard Section 16 reporting for insider purchases by the CEO and director; no governance issues are raised.

The report identifies the reporting person, relationship to the issuer (Chairman, CEO & President and director), and provides clear transaction dates, quantities, prices, and resulting direct ownership. There are no amendments, derivatives, or indicative plans noted. The signature date matches the latest transaction reporting date consistent with timely disclosure.

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)
08/22/2025

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	08/22/2025		P		1,028	A	$11.99	24,139	D
Common Stock	08/25/2025		P		2,500	A	$12	26,639	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:

	/s/ Frank Kavanaugh	08/25/2025
	** 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

Who filed the Form 4 for MDRR?

The Form 4 was filed by Frank Kavanaugh, who is listed as Chairman, CEO & President and a director.

What shares and amounts did the insider acquire on the reported dates?

On 08/22/2025 Mr. Kavanaugh acquired 1,028 shares at $11.99. On 08/25/2025 he acquired 2,500 shares at $12.00.

What is the reporting person's total beneficial ownership after these transactions?

The filing shows total direct beneficial ownership of 26,639 shares following the reported transactions.

Did the Form 4 report any derivative transactions or plans?

No. Table II (derivative securities) lists no transactions and the filing shows only non-derivative common stock purchases.

When was the Form 4 signed by the reporting person?

The signature block is dated 08/25/2025 and signed by Frank Kavanaugh.