STOCK TITAN

[Form 4] Whitestone REIT Insider Trading Activity

Filing Impact
(Low)
Filing Sentiment
(Negative)
Form Type
4
Rhea-AI Filing Summary

On 30 June 2025, SANUWAVE Health, Inc. (ticker: SNWV) granted Director Jeffrey Blizard a fully-vested stock option covering 1,574 shares of common stock, as disclosed in a Form 4 filed on 2 July 2025. The option carries an exercise price of $32.86 and an expiration date of 30 June 2030. The transaction was coded “A,” indicating an issuer-awarded grant rather than an open-market purchase. No non-derivative transactions or additional derivative movements were reported.

Following this grant, Mr. Blizard directly owns 1,574 derivative securities and reported no other holdings in SNWV common stock. Because the options were already fully vested at issuance, they are immediately exercisable, potentially aligning the director’s incentives with shareholder value creation. However, the filing does not specify any accompanying cash outlay or further equity activity.

Il 30 giugno 2025, SANUWAVE Health, Inc. (ticker: SNWV) ha concesso al Direttore Jeffrey Blizard un'opzione su azioni completamente maturata che copre 1.574 azioni ordinarie, come indicato in un modulo Form 4 depositato il 2 luglio 2025. L'opzione ha un prezzo di esercizio di $32,86 e una scadenza fissata al 30 giugno 2030. La transazione è stata classificata come “A”, segnalando una concessione da parte dell'emittente e non un acquisto sul mercato aperto. Non sono state riportate altre transazioni non derivate né movimenti derivati aggiuntivi.

Dopo questa concessione, il Sig. Blizard detiene direttamente 1.574 strumenti derivati e non ha dichiarato altre partecipazioni in azioni ordinarie SNWV. Poiché le opzioni erano già completamente maturate al momento dell'emissione, sono immediatamente esercitabili, potenzialmente allineando gli interessi del direttore con la creazione di valore per gli azionisti. Tuttavia, il deposito non specifica alcun esborso in contanti o ulteriori attività azionarie.

El 30 de junio de 2025, SANUWAVE Health, Inc. (símbolo: SNWV) otorgó al Director Jeffrey Blizard una opción sobre acciones totalmente adquirida que cubre 1,574 acciones ordinarias, según se reveló en un Formulario 4 presentado el 2 de julio de 2025. La opción tiene un precio de ejercicio de $32.86 y una fecha de vencimiento el 30 de junio de 2030. La transacción fue codificada como “A”, indicando que fue una concesión otorgada por el emisor y no una compra en el mercado abierto. No se reportaron transacciones no derivadas ni movimientos derivados adicionales.

Tras esta concesión, el Sr. Blizard posee directamente 1,574 valores derivados y no reportó otras participaciones en acciones ordinarias de SNWV. Dado que las opciones ya estaban totalmente adquiridas al momento de la emisión, son ejercitables inmediatamente, lo que podría alinear los incentivos del director con la creación de valor para los accionistas. Sin embargo, la presentación no especifica ningún desembolso en efectivo ni actividad adicional de capital.

2025년 6월 30일, SANUWAVE Health, Inc.(티커: SNWV)는 이사 Jeffrey Blizard에게 1,574주의 보통주에 대한 완전 취득된 스톡옵션을 부여했으며, 이는 2025년 7월 2일 제출된 Form 4에서 공개되었습니다. 이 옵션의 행사가격은 $32.86이며, 만료일은 2030년 6월 30일입니다. 해당 거래는 발행자가 부여한 보조금임을 나타내는 “A” 코드로 분류되었으며, 공개시장 구매가 아닙니다. 비파생 거래나 추가 파생 거래는 보고되지 않았습니다.

이 부여 이후 Blizard 이사는 직접적으로 1,574개의 파생 증권을 보유하고 있으며, SNWV 보통주에 대한 다른 보유 내역은 보고하지 않았습니다. 옵션이 발행 시 이미 완전 취득 상태였기 때문에 즉시 행사할 수 있어, 이사의 인센티브가 주주 가치 창출과 일치할 가능성이 있습니다. 다만, 제출 서류에는 현금 지출이나 추가 주식 활동에 대한 명시는 없습니다.

Le 30 juin 2025, SANUWAVE Health, Inc. (symbole : SNWV) a accordé au directeur Jeffrey Blizard une option d'achat d'actions entièrement acquise portant sur 1 574 actions ordinaires, comme indiqué dans un formulaire 4 déposé le 2 juillet 2025. L'option comporte un prix d'exercice de 32,86 $ et une date d'expiration au 30 juin 2030. La transaction a été codée « A », indiquant une attribution par l'émetteur plutôt qu'un achat sur le marché ouvert. Aucune transaction non dérivée ni mouvement dérivé supplémentaire n'a été signalé.

Suite à cette attribution, M. Blizard détient directement 1 574 titres dérivés et n'a déclaré aucune autre détention d'actions ordinaires SNWV. Étant donné que les options étaient déjà entièrement acquises à leur émission, elles sont immédiatement exerçables, ce qui pourrait aligner les incitations du directeur sur la création de valeur pour les actionnaires. Toutefois, le dépôt ne précise pas de sortie de trésorerie ni d'activité supplémentaire en actions.

Am 30. Juni 2025 gewährte SANUWAVE Health, Inc. (Ticker: SNWV) dem Direktor Jeffrey Blizard eine vollständig unverfallbare Aktienoption über 1.574 Stammaktien, wie in einem am 2. Juli 2025 eingereichten Formular 4 offengelegt wurde. Die Option hat einen Ausübungspreis von $32,86 und ein Ablaufdatum am 30. Juni 2030. Die Transaktion wurde mit „A“ codiert, was auf eine vom Emittenten gewährte Zuteilung und keinen Kauf am offenen Markt hinweist. Es wurden keine nicht-derivativen Transaktionen oder weitere derivative Bewegungen gemeldet.

Nach dieser Zuteilung besitzt Herr Blizard direkt 1.574 derivative Wertpapiere und meldete keine weiteren Bestände an SNWV-Stammaktien. Da die Optionen bei Ausgabe bereits vollständig unverfallbar waren, sind sie sofort ausübbar, was die Anreize des Direktors möglicherweise mit der Wertschöpfung für die Aktionäre in Einklang bringt. Die Meldung enthält jedoch keine Angaben zu einer begleitenden Barzahlung oder weiteren Eigenkapitalaktivitäten.

Positive
  • Director-shareholder alignment: Option grant provides equity-based incentive that can align the director’s interests with long-term shareholder value.
Negative
  • Potential dilution: Issuance of new options adds 1,574 shares of potential dilution, though the amount appears immaterial.

Insights

TL;DR – Routine director option grant; negligible immediate impact on valuation.

The Form 4 shows a standard equity incentive: 1,574 fully-vested options to Director Jeffrey Blizard at a $32.86 strike, expiring in 2030. No common-stock sales or purchases occurred. The modest size suggests minimal dilution and limited near-term financial effect. While the grant marginally strengthens pay-for-performance alignment, it is too small to materially move SNWV’s capital structure or governance profile. Overall impact on investors is neutral.

Il 30 giugno 2025, SANUWAVE Health, Inc. (ticker: SNWV) ha concesso al Direttore Jeffrey Blizard un'opzione su azioni completamente maturata che copre 1.574 azioni ordinarie, come indicato in un modulo Form 4 depositato il 2 luglio 2025. L'opzione ha un prezzo di esercizio di $32,86 e una scadenza fissata al 30 giugno 2030. La transazione è stata classificata come “A”, segnalando una concessione da parte dell'emittente e non un acquisto sul mercato aperto. Non sono state riportate altre transazioni non derivate né movimenti derivati aggiuntivi.

Dopo questa concessione, il Sig. Blizard detiene direttamente 1.574 strumenti derivati e non ha dichiarato altre partecipazioni in azioni ordinarie SNWV. Poiché le opzioni erano già completamente maturate al momento dell'emissione, sono immediatamente esercitabili, potenzialmente allineando gli interessi del direttore con la creazione di valore per gli azionisti. Tuttavia, il deposito non specifica alcun esborso in contanti o ulteriori attività azionarie.

El 30 de junio de 2025, SANUWAVE Health, Inc. (símbolo: SNWV) otorgó al Director Jeffrey Blizard una opción sobre acciones totalmente adquirida que cubre 1,574 acciones ordinarias, según se reveló en un Formulario 4 presentado el 2 de julio de 2025. La opción tiene un precio de ejercicio de $32.86 y una fecha de vencimiento el 30 de junio de 2030. La transacción fue codificada como “A”, indicando que fue una concesión otorgada por el emisor y no una compra en el mercado abierto. No se reportaron transacciones no derivadas ni movimientos derivados adicionales.

Tras esta concesión, el Sr. Blizard posee directamente 1,574 valores derivados y no reportó otras participaciones en acciones ordinarias de SNWV. Dado que las opciones ya estaban totalmente adquiridas al momento de la emisión, son ejercitables inmediatamente, lo que podría alinear los incentivos del director con la creación de valor para los accionistas. Sin embargo, la presentación no especifica ningún desembolso en efectivo ni actividad adicional de capital.

2025년 6월 30일, SANUWAVE Health, Inc.(티커: SNWV)는 이사 Jeffrey Blizard에게 1,574주의 보통주에 대한 완전 취득된 스톡옵션을 부여했으며, 이는 2025년 7월 2일 제출된 Form 4에서 공개되었습니다. 이 옵션의 행사가격은 $32.86이며, 만료일은 2030년 6월 30일입니다. 해당 거래는 발행자가 부여한 보조금임을 나타내는 “A” 코드로 분류되었으며, 공개시장 구매가 아닙니다. 비파생 거래나 추가 파생 거래는 보고되지 않았습니다.

이 부여 이후 Blizard 이사는 직접적으로 1,574개의 파생 증권을 보유하고 있으며, SNWV 보통주에 대한 다른 보유 내역은 보고하지 않았습니다. 옵션이 발행 시 이미 완전 취득 상태였기 때문에 즉시 행사할 수 있어, 이사의 인센티브가 주주 가치 창출과 일치할 가능성이 있습니다. 다만, 제출 서류에는 현금 지출이나 추가 주식 활동에 대한 명시는 없습니다.

Le 30 juin 2025, SANUWAVE Health, Inc. (symbole : SNWV) a accordé au directeur Jeffrey Blizard une option d'achat d'actions entièrement acquise portant sur 1 574 actions ordinaires, comme indiqué dans un formulaire 4 déposé le 2 juillet 2025. L'option comporte un prix d'exercice de 32,86 $ et une date d'expiration au 30 juin 2030. La transaction a été codée « A », indiquant une attribution par l'émetteur plutôt qu'un achat sur le marché ouvert. Aucune transaction non dérivée ni mouvement dérivé supplémentaire n'a été signalé.

Suite à cette attribution, M. Blizard détient directement 1 574 titres dérivés et n'a déclaré aucune autre détention d'actions ordinaires SNWV. Étant donné que les options étaient déjà entièrement acquises à leur émission, elles sont immédiatement exerçables, ce qui pourrait aligner les incitations du directeur sur la création de valeur pour les actionnaires. Toutefois, le dépôt ne précise pas de sortie de trésorerie ni d'activité supplémentaire en actions.

Am 30. Juni 2025 gewährte SANUWAVE Health, Inc. (Ticker: SNWV) dem Direktor Jeffrey Blizard eine vollständig unverfallbare Aktienoption über 1.574 Stammaktien, wie in einem am 2. Juli 2025 eingereichten Formular 4 offengelegt wurde. Die Option hat einen Ausübungspreis von $32,86 und ein Ablaufdatum am 30. Juni 2030. Die Transaktion wurde mit „A“ codiert, was auf eine vom Emittenten gewährte Zuteilung und keinen Kauf am offenen Markt hinweist. Es wurden keine nicht-derivativen Transaktionen oder weitere derivative Bewegungen gemeldet.

Nach dieser Zuteilung besitzt Herr Blizard direkt 1.574 derivative Wertpapiere und meldete keine weiteren Bestände an SNWV-Stammaktien. Da die Optionen bei Ausgabe bereits vollständig unverfallbar waren, sind sie sofort ausübbar, was die Anreize des Direktors möglicherweise mit der Wertschöpfung für die Aktionäre in Einklang bringt. Die Meldung enthält jedoch keine Angaben zu einer begleitenden Barzahlung oder weiteren Eigenkapitalaktivitäten.

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*
Hogan John Scott

(Last) (First) (Middle)
2600 SOUTH GESSNER
SUITE 500

(Street)
HOUSTON TX 77063

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Whitestone REIT [ WSR ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Chief Financial Officer
3. Date of Earliest Transaction (Month/Day/Year)
06/30/2025
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 Shares 06/30/2025 A 17,774(1) A $0 211,539 D
Common Shares 06/30/2025 F 6,154(2) D $12.48(3) 205,385 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. Represents restricted common share units granted pursuant to the Company's 2018 Long-Term Equity Incentive Ownership Plan.
2. Represents common shares withheld by the Company to satisfy tax withholding obligations in connection with the vesting of certain restricted units previously granted pursuant to the Company's 2018 Long-Term Equity Incentive Ownership Plan.
3. Per Share value assigned by the Company to the tax withholding shares based on the closing sales price of the common shares on June 30, 2025.
/s/ John Scott Hogan 07/02/2025
** 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

What transaction did Director Jeffrey Blizard report for SNWV?

A fully-vested option grant covering 1,574 shares of SNWV common stock.

How many stock options were granted to Jeffrey Blizard?

The Form 4 reports 1,574 stock options.

What is the exercise price and expiration date of the options?

The options have a $32.86 exercise price and expire on 30 June 2030.

Were the options immediately vested?

Yes. The filing states the options were fully vested on the grant date.

How many derivative securities does Mr. Blizard own after the transaction?

He beneficially owns 1,574 derivative securities following the reported grant.

When was the Form 4 filed?

The Form 4 was filed on 2 July 2025.
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