Edward Lampert Reports Two SRG Sales, Retains 13.42M Class A Shares

Rhea-AI Filing Summary

Edward S. Lampert, a director of Seritage Growth Properties (SRG), reported two open-market sales of Class A common shares on 09/09/2025 and 09/11/2025. The first sale disposed of 40,000 shares at $4.4037 per share and the second disposed of 23,864 shares at $4.5044 per share, leaving the reporting person with 13,420,298 Class A shares after the second transaction. The filing notes that the reporting person may be deemed to beneficially own an additional 3,492 shares held by each of two family trusts, though he disclaims beneficial ownership except to the extent of any pecuniary interest. The Form 4 is signed by Edward S. Lampert and provides the required Section 16 disclosure of these sales.

Insights

Financial Analyst

TL;DR: Director Lampert executed two modest open-market sales totaling 63,864 SRG shares, leaving substantial remaining holdings.

The transactions are routine insider sales recorded on Form 4 and represent a small fraction of the reporting person's total post-sale stake of 13.42 million Class A shares. Transaction prices were $4.4037 and $4.5044 per share, indicating sales executed within a narrow price range. There is no indication in the filing of derivative activity, additional pledges, or other material changes to ownership. The filing also discloses potential indirect interests via two family trusts, which the reporting person disclaims except for pecuniary interest.

Corporate Governance Expert

TL;DR: Disclosure complies with Section 16: timely reporting of sales and clear trust-related disclaimers are provided.

The Form 4 properly itemizes each non-derivative sale with dates, quantities, and prices, and includes an explanatory note about shares held in two family trusts. The signature and dates are present, meeting technical filing requirements. From a governance standpoint, the filing raises no apparent compliance issues or undisclosed related-party transactions; the sales appear to be standard dispositions rather than indicators of governance disputes or liquidity events.

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

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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^*

LAMPERT EDWARD S

(Last) (First) (Middle)

1170 KANE CONCOURSE, SUITE 200

(Street)

BAY HARBOR ISLANDS FL 33154

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Seritage Growth Properties [ SRG ]

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

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

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

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
Class A Common Shares	09/09/2025		S		40,000	D	$4.4037	13,444,162	D(1)
Class A Common Shares	09/11/2025		S		23,864	D	$4.5044	13,420,298	D(1)

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. Includes 3,492 Class A common shares of beneficial interest of Seritage Growth Properties, par value $0.01 per share ("Class A Shares"), held by The Nicholas Floyd Lampert 2015 Trust ("The Nicholas Trust"), and 3,492 Class A Shares held by The Nina Rose Lampert 2015 Trust ("The Nina Trust", and together with The Nicholas Trust, the "Trusts"). The reporting person may be deemed to have beneficial ownership of securities owned by the Trusts. The reporting person disclaims beneficial ownership of the securities owned by the Trusts, except to the extent of the pecuniary interest of the reporting person in such securities. The reporting person states that neither the filing of this statement nor anything herein shall be deemed an admission that such person is, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended or otherwise, the beneficial owner of any securities owned by the Trusts.

	/s/ Edward S. Lampert	09/11/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What trades did Edward S. Lampert report for SRG on this Form 4?

He reported two sales: 40,000 Class A shares on 09/09/2025 at $4.4037 and 23,864 Class A shares on 09/11/2025 at $4.5044.

How many SRG shares did Lampert own after the reported transactions?

The filing states he beneficially owned 13,420,298 Class A shares following the 09/11/2025 sale.

Does the Form 4 disclose any indirect ownership or trust holdings?

Yes. It discloses 3,492 Class A shares held by The Nicholas Floyd Lampert 2015 Trust and 3,492 held by The Nina Rose Lampert 2015 Trust, and states he may be deemed to beneficially own those shares but disclaims such ownership except for any pecuniary interest.

Were any derivative securities reported on this Form 4?

No. Table II (derivative securities) contains no reported transactions or holdings in this filing.

Who signed the Form 4 and when?

The Form 4 is signed by /s/ Edward S. Lampert with the signature date 09/11/2025.