MDRR director sells 20,000 shares to CEO at $13.50

Medalist Diversified REIT, Inc. (MDRR) director Marc Carlson reported a sale of 20,000 shares of common stock on 11/14/2025 at $13.50 per share under a Stock Purchase Agreement.

Rhea-AI Filing Summary

Medalist Diversified REIT, Inc. (MDRR) director Marc Carlson reported a sale of 20,000 shares of common stock on 11/14/2025 at $13.50 per share under a Stock Purchase Agreement. The shares were sold to Frank Kavanaugh, who is Chairman, CEO and President of Medalist Diversified REIT, Inc. After this transaction, Carlson beneficially owns 1,039 shares of common stock directly.

Insider Trade Summary

Net Seller: 20,000 shares

Net Sell 1 txn

Insider Carlson Marc

Role Director

Sold 20,000 shs ($270K)

Type	Security	Shares	Price	Value
Sale	Common Stock	20,000	$13.50	$270K

Holdings After Transaction: Common Stock — 1,039 shares (Direct)

Footnotes (1)

1. F1. Pursuant to a Stock Purchase Agreement dated November 14, 2025, Marc Carlson sold 20,000 shares of common stock for $13.50 per share to Frank Kavanaugh, the Chairman, CEO and President of Medalist Diversified REIT, Inc.

FAQ

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

What insider transaction did MDRR report in this Form 4?

The filing reports that director Marc Carlson sold 20,000 shares of Medalist Diversified REIT, Inc. common stock at $13.50 per share on 11/14/2025.

Who bought the MDRR shares sold by Marc Carlson?

The 20,000 shares of common stock were sold to Frank Kavanaugh, who serves as Chairman, CEO and President of Medalist Diversified REIT, Inc.

How many MDRR shares does Marc Carlson own after the transaction?

Following the reported sale, Marc Carlson beneficially owns 1,039 shares of Medalist Diversified REIT, Inc. common stock in direct ownership.

What was the price of the MDRR insider share sale?

The 20,000 MDRR shares were sold for $13.50 per share pursuant to a Stock Purchase Agreement dated November 14, 2025.

What is Marc Carlson’s role at Medalist Diversified REIT, Inc.?

Marc Carlson is identified in the filing as a Director of Medalist Diversified REIT, Inc.

Is this MDRR Form 4 filed for more than one reporting person?

No. The Form 4 is marked as Form filed by One Reporting Person, referring to Marc Carlson.

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

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Accepted by SEC EDGAR 11/17/2025 - 06:01 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^*

Carlson Marc

(Last) (First) (Middle)

MEDALIST DIVERSIFIED REIT, INC.

P. O. 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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
11/14/2025

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	11/14/2025		S		20,000(1)	D	$13.5	1,039	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. Pursuant to a Stock Purchase Agreement dated November 14, 2025, Marc Carlson sold 20,000 shares of common stock for $13.50 per share to Frank Kavanaugh, the Chairman, CEO and President of Medalist Diversified REIT, Inc.

	/s/ Marc Carlson	09/03/2025
	/s/ Marc Carlson	11/17/2025
	** 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.