Chiron director granted 2,497 LTIP units

Cypher Matthew reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Cypher Matthew reported acquisition or exercise transactions in this Form 4 filing.

Chiron Real Estate Inc. director Cypher Matthew received a grant of 2,497 LTIP Units in Chiron Real Estate LP, the company’s operating partnership. These units vest on May 20, 2027 and, once vested and meeting capital account parity, may be exchanged one-for-one for shares of common stock or cash. Following this award, he holds 13,603 LTIP Units on a post–1-for-5 reverse split basis.

Insider Trade Summary

Grant/Award: 2,497 shares

Grant/Award 1 txn

Insider Cypher Matthew

Role Director

Type	Security	Shares	Price	Value
Grant/Award	LTIP Unit (Right to Buy)	2,497	$0.00	$0.00

Holdings After Transaction: LTIP Unit (Right to Buy) — 13,603 contracts (Direct)

Footnotes (3)

1. F1. Represents units of limited partnership interest ("LTIP Units") in Chiron Real Estate LP (the "OP"), the operating partnership of the Issuer. All of the LTIP Units vest on May 20, 2027, subject to the Reporting Person's continued service as a director on such date. The LTIP Units were issued pursuant to the Issuer's 2016 Equity Incentive Plan (as amended from time to time) and have no expiration date.
2. F2. As described in the OP's partnership agreement, vested LTIP Units that have achieved capital account parity may be exchanged at any time after vesting for cash or, at the election of the Issuer, for shares of Common Stock on a one-for-one basis. LTIP Units have no expiration date.
3. F3. On September 19, 2025, the Issuer effected a reverse stock split of the Issuer's issued and outstanding shares of Common Stock at a ratio of 1-for-5. As a result, the amount of LTIP Units reflected in this filing is on a post-split adjusted basis.

Key Figures

LTIP Units granted: 2,497 LTIP Units Total LTIP Units after grant: 13,603 LTIP Units Vesting date: May 20, 2027 +2 more

5 metrics

LTIP Units granted 2,497 LTIP Units Grant on May 20, 2026

Total LTIP Units after grant 13,603 LTIP Units Holdings following transaction

Vesting date May 20, 2027 All granted LTIP Units vest if service continues

Exchange ratio 1 LTIP Unit : 1 common share Upon vesting and capital account parity, at issuer’s election

Reverse stock split ratio 1-for-5 Effective September 19, 2025, post-split LTIP amounts shown

Key Terms

LTIP Units, reverse stock split, capital account parity, Equity Incentive Plan

4 terms

LTIP Units financial

"Represents units of limited partnership interest ("LTIP Units") in Chiron Real Estate LP"

LTIP units are awards given to executives and employees as part of a long-term incentive plan; they act like deferred bonuses that convert into company shares or cash only if the business meets set performance or time requirements. Investors care because LTIP units tie management pay to future results, can increase the number of outstanding shares (dilution) when they vest, and create ongoing compensation expense that can affect earnings and shareholder value.

reverse stock split financial

"the Issuer effected a reverse stock split of the Issuer's issued and outstanding shares"

A reverse stock split reduces a company's number of outstanding shares while raising the price per share proportionally, so the total value of each investor's holding is unchanged; a 1-for-10 split turns 100 shares worth $1 each into 10 shares worth $10 each. Companies often do this to regain compliance with an exchange's minimum price rule or to attract investors who avoid very low-priced stocks.

capital account parity financial

"vested LTIP Units that have achieved capital account parity may be exchanged"

Equity Incentive Plan financial

"issued pursuant to the Issuer's 2016 Equity Incentive Plan (as amended from time to time)"

An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.

FAQ

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

What did Cypher Matthew report in this Form 4 for XRN?

Cypher Matthew reported receiving 2,497 LTIP Units in Chiron Real Estate LP. These units are a form of equity-based compensation linked to Chiron Real Estate Inc.’s common stock and increase his total LTIP Unit holdings to 13,603 on a post-split basis.

When do Cypher Matthew’s newly granted LTIP Units for XRN vest?

All 2,497 newly granted LTIP Units vest on May 20, 2027. Vesting is conditioned on his continued service as a director through that date, which ties the award to long-term board tenure and alignment with shareholder interests.

How can the LTIP Units reported for Chiron Real Estate Inc. be settled?

Once vested and achieving capital account parity, the LTIP Units can be exchanged for cash or, at the issuer’s election, for shares of common stock on a one-for-one basis. This structure links the award’s value directly to the company’s equity.

What is Cypher Matthew’s total LTIP Unit position in XRN after this grant?

After receiving 2,497 additional LTIP Units, Cypher Matthew holds a total of 13,603 LTIP Units. This figure is presented on a post–1-for-5 reverse stock split basis, reflecting the company’s capital structure change on September 19, 2025.

How did Chiron Real Estate Inc.’s reverse stock split affect the LTIP Units?

On September 19, 2025, Chiron Real Estate Inc. executed a 1-for-5 reverse stock split on its common shares. As a result, the LTIP Unit amounts in this filing are shown on a post-split adjusted basis, aligning them with the new share count.

Are the LTIP Units granted to Cypher Matthew subject to expiration?

The LTIP Units reported for Cypher Matthew have no expiration date. They were issued under Chiron Real Estate Inc.’s 2016 Equity Incentive Plan, and once vested, can be held or exchanged under the terms of the operating partnership agreement.

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

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Accepted by SEC EDGAR 05/21/2026 - 05:39 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
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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^*

Cypher Matthew

(Last) (First) (Middle)

7373 WISCONSIN AVENUE, SUITE 800

(Street)

BETHESDA MARYLAND 20814

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Chiron Real Estate Inc. [ XRN ]

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)
05/20/2026

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

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
LTIP Unit (Right to Buy)(1)	(2)	05/20/2026		A		2,497		(2)	(2)	Common Stock	2,497	$0	13,603(3)	D

Explanation of Responses:

1. Represents units of limited partnership interest ("LTIP Units") in Chiron Real Estate LP (the "OP"), the operating partnership of the Issuer. All of the LTIP Units vest on May 20, 2027, subject to the Reporting Person's continued service as a director on such date. The LTIP Units were issued pursuant to the Issuer's 2016 Equity Incentive Plan (as amended from time to time) and have no expiration date.

2. As described in the OP's partnership agreement, vested LTIP Units that have achieved capital account parity may be exchanged at any time after vesting for cash or, at the election of the Issuer, for shares of Common Stock on a one-for-one basis. LTIP Units have no expiration date.

3. On September 19, 2025, the Issuer effected a reverse stock split of the Issuer's issued and outstanding shares of Common Stock at a ratio of 1-for-5. As a result, the amount of LTIP Units reflected in this filing is on a post-split adjusted basis.

	/s/ Jamie Barber, as Attorney-in-Fact	05/21/2026
	** 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)