Whitestone REIT director’s 31,577 shares cashed at $19

Whitestone REIT director Julia Bruns Buthman reported a disposition to the issuer of 31,577 common shares on July 14, 2026 at $19.00 per share in connection with a merger under an Agreement and Plan of Merger.

Rhea-AI Filing Summary

Whitestone REIT director Julia Bruns Buthman reported a disposition to the issuer of 31,577 common shares on July 14, 2026 at $19.00 per share in connection with a merger under an Agreement and Plan of Merger. Following this cash conversion, she holds 0 shares and, after the company’s delisting and deregistration, will cease to have reporting obligations.

Insider Trade Summary

Disposition: 31,577 shares

Disposition 1 txn

Insider Buthman Julia Bruns

Role Director

Type	Security	Shares	Price	Value
Disposition	Common Shares F1, F2	31,577	$19.00	$600K

Holdings After Transaction: Common Shares — 0 shares (Direct)

Footnotes (2)

1. F1. Pursuant to the Agreement and Plan of Merger, dated as of April 8, 2026 (the "Merger Agreement"), by and among Whitestone REIT (the "Company"), Whitestone REIT Operating Partnership, L.P., AREG Wizard Parent LP, AREG Wizard Intermediate LP, and AREG Wizard Operating Partnership LP, each common share of beneficial interest, par value $0.001 per share, of the Company (each, a "Company Common Share"), was converted into the right to receive $19.00 in cash payment (without interest and subject to any applicable withholding taxes).
2. F2. (Continued from footnote 1) As a result of the Company Merger (as defined in the Merger Agreement), Reporting Person no longer beneficially owns, directly or indirectly, any Company Common Shares, and after giving effect to the Company's delisting and deregistration, will cease to have reporting obligations.

Key Figures

Shares disposed: 31,577 common shares Cash per share: $19.00 Post-transaction holdings: 0 shares +2 more

5 metrics

Shares disposed 31,577 common shares Issuer disposition by director on July 14, 2026

Cash per share $19.00 Cash payment for each common share under the merger

Post-transaction holdings 0 shares Shares beneficially owned by the reporting person after the merger conversion

Merger agreement date April 8, 2026 Date of the Agreement and Plan of Merger governing the cash conversion

Par value per share $0.001 Par value of each Whitestone REIT common share

Key Terms

Agreement and Plan of Merger, par value, beneficially owns, delisting and deregistration, +1 more

5 terms

Agreement and Plan of Merger regulatory

"Pursuant to the Agreement and Plan of Merger, dated as of April 8, 2026"

An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.

par value financial

"each common share of beneficial interest, par value $0.001 per share"

Par value is the fixed amount printed on a bond or stock that represents its original value when issued. It’s like the face value of a coin or bill—what the issuer promises to pay back or the starting price of a stock—though it often doesn’t change with market prices. It matters because it helps determine certain financial details, like how much the company will pay back at maturity.

beneficially owns financial

"Reporting Person no longer beneficially owns, directly or indirectly, any Company Common Shares"

Beneficially owns means a person or entity enjoys the economic benefits and control of a security even if the legal title or registration is held in another name. Think of it like having the keys and profits from a car that is registered to a friend: you use it, benefit from it, and make decisions about it even though the official paperwork lists someone else. For investors, this matters because it reveals who truly controls shares, affects voting power, potential conflicts of interest, and regulatory disclosure obligations.

delisting and deregistration regulatory

"after giving effect to the Company's delisting and deregistration, will cease to have reporting obligations"

disposition to issuer financial

"transaction_code_description: Disposition to issuer"

FAQ

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

What insider transaction did Whitestone REIT (WSR) report for Julia Bruns Buthman?

Whitestone REIT director Julia Bruns Buthman reported a disposition of 31,577 common shares on July 14, 2026. The shares were converted to a $19.00 cash payment per share under a merger agreement, rather than sold in the open market.

At what price were Whitestone REIT (WSR) shares converted in the merger?

Each Whitestone REIT common share was converted into the right to receive $19.00 in cash. This cash payment, without interest and subject to applicable withholding taxes, resulted from the Agreement and Plan of Merger involving Whitestone REIT and AREG Wizard entities.

How many Whitestone REIT (WSR) shares did Julia Bruns Buthman hold after the merger?

After the merger transaction, Julia Bruns Buthman held 0 Whitestone REIT common shares. Her 31,577 shares were fully converted into cash consideration at $19.00 per share, and she no longer beneficially owns any company common shares, directly or indirectly.

Why is the Whitestone REIT (WSR) director’s Form 4 coded as a disposition to the issuer?

The Form 4 uses code D for a disposition to the issuer because shares were converted to cash under the merger terms. This reflects an issuer transaction tied to the Agreement and Plan of Merger, not an open-market sale by the director.

Will Julia Bruns Buthman continue SEC reporting for Whitestone REIT (WSR)?

No. Following the completion of the merger, the director no longer beneficially owns any shares of Whitestone REIT. After the company’s delisting and deregistration, she will cease to have SEC reporting obligations relating to its common shares.

What corporate action involving Whitestone REIT (WSR) is referenced in this Form 4?

The Form 4 references an Agreement and Plan of Merger dated April 8, 2026. Under this merger, each Whitestone REIT common share was converted into a right to receive $19.00 in cash, leading to the company’s planned delisting and deregistration.

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

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Accepted by SEC EDGAR 07/15/2026 - 04:10 PM EDT 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

X

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^*

Buthman Julia Bruns

(Last) (First) (Middle)

2600 SOUTH GESSNER

SUITE 500

(Street)

HOUSTON TEXAS 77063

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Whitestone REIT [ WSR ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/14/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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 Shares(1)(2)	07/14/2026		D		31,577	D	$19	0	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 the Agreement and Plan of Merger, dated as of April 8, 2026 (the "Merger Agreement"), by and among Whitestone REIT (the "Company"), Whitestone REIT Operating Partnership, L.P., AREG Wizard Parent LP, AREG Wizard Intermediate LP, and AREG Wizard Operating Partnership LP, each common share of beneficial interest, par value $0.001 per share, of the Company (each, a "Company Common Share"), was converted into the right to receive $19.00 in cash payment (without interest and subject to any applicable withholding taxes).

2. (Continued from footnote 1) As a result of the Company Merger (as defined in the Merger Agreement), Reporting Person no longer beneficially owns, directly or indirectly, any Company Common Shares, and after giving effect to the Company's delisting and deregistration, will cease to have reporting obligations.

	/s/ John Scott Hogan, Attorney-in-Fact for Julia B. Buthman	07/15/2026
	** 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.
* Form 4: SEC 1474 (03-26)