Form 4: Bluerock Total Income (plus) Real Estate Fund Trustee Acquires Shares Under Compensation Plan
Insider Transaction Report
Kamal Jafarnia, a Trustee of Bluerock Total Income (plus) Real Estate Fund, acquired 192.0861 Class I Shares valued at $26.03 per share as part of the independent trustees' compensation plan.
Summary
- Kamal Jafarnia, a Trustee of Bluerock Total Income (plus) Real Estate Fund (TIPWX), acquired 192.0861 Class I Shares.
- The acquisition occurred on June 30, 2025, at a price of $26.03 per share.
- This transaction was a grant of securities from the issuer, consistent with the trustees' compensation plan.
- Following this transaction, Kamal Jafarnia directly beneficially owns 2,729.98 Class I Shares.
- The compensation plan entitles each independent trustee to receive $5,000 of Class I Shares per quarter, totaling $20,000 annually.
Sentiment
Score: 6
Explanation: The acquisition of shares by a trustee as part of a compensation plan is a routine event that aligns the trustee's interests with shareholders, reflecting standard corporate governance practices.
Positives
- The acquisition of shares by a trustee aligns their interests with those of shareholders.
- The transaction is part of a pre-defined compensation plan, indicating structured governance.
Future Outlook
The document indicates an ongoing compensation plan where independent trustees receive Class I Shares quarterly, suggesting future similar acquisitions by trustees.
Industry Context
This Form 4 reports a routine insider transaction related to compensation, which is common across publicly traded companies and investment funds. It does not provide information on broader real estate industry trends or the fund's specific market position.
Comparison to Industry Standards
- Compensation plans involving equity grants for independent trustees are a standard practice in the investment fund industry to align interests with unitholders. Specific comparable companies or projects are not detailed in this filing.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Compensation Plan Implementation | The transaction is a direct result of the independent trustees' compensation plan, which is a component of the fund's corporate governance structure designed to align trustee interests with those of shareholders through equity grants. | 06/30/2025 | Enhances alignment between trustee and shareholder interests. |
Related Party Transactions
- The grant of shares to a trustee as part of a compensation plan can be considered a related party transaction, as it involves the issuer providing compensation to an insider.
Stakeholder Impact
- Shareholders: The transaction slightly increases the number of outstanding shares, leading to minor dilution, but also aligns the trustee's interests with shareholders.
- Trustees: Directly benefits the trustee through equity compensation.
Next Steps
- Independent trustees are expected to continue receiving quarterly grants of Class I Shares as per the compensation plan.
Key Dates
| Date | Description |
|---|---|
| 06/30/2025 | Date of transaction where Kamal Jafarnia acquired Class I Shares. |
| 07/02/2025 | Date the Form 4 filing was signed and submitted. |
Keywords
Bluerock Total Income (plus) Real Estate Fund, TIPWX, Kamal Jafarnia, SEC Form 4, Insider transaction, Share acquisition, Trustee compensation, Beneficial ownership, Real estate fund
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