Form 4: Whitestone REIT COO Increases Stake Through Equity Grant, Shares Withheld for Taxes

Whitestone REIT's Chief Operating Officer, Christine J. Mastandrea, increased her beneficial ownership of common shares through a restricted stock unit grant, with a portion withheld for tax obligations.

Summary

• Christine J. Mastandrea, Chief Operating Officer of Whitestone REIT (WSR), reported changes in her beneficial ownership of common shares.
• She acquired 23,323 common shares on June 30, 2025, which represent restricted common share units granted under the Company's 2018 Long-Term Equity Incentive Ownership Plan. These shares were acquired at a price of $0.
• Concurrently, 6,470 common shares were disposed of on June 30, 2025, to satisfy tax withholding obligations related to the vesting of previously granted restricted units.
• The per-share value assigned to the tax-withheld shares was $12.48, based on the closing sales price on June 30, 2025.
• Following these transactions, Christine J. Mastandrea's direct beneficial ownership of common shares is 410,931.

Sentiment

Score: 6

Explanation: The document reports a routine insider transaction involving an equity grant and tax withholding. It indicates continued alignment of management with shareholder interests through equity compensation, which is generally positive, but does not contain new financial performance data.

Positives

• Chief Operating Officer Christine J. Mastandrea received a grant of 23,323 restricted common share units, indicating continued equity-based compensation and alignment with shareholder interests.
• The net effect of the transactions is an increase in the COO's beneficial ownership of common shares.

Negatives

• 6,470 common shares were disposed of to cover tax withholding obligations, which is a standard practice for equity compensation vesting.

Future Outlook

No forward-looking statements or guidance are provided in this insider transaction report.

Industry Context

This is a routine insider transaction for a REIT. It reflects standard equity compensation practices within the real estate investment trust sector, where long-term incentives often involve restricted stock units to align management interests with property value appreciation and dividend performance.

Comparison to Industry Standards

• This type of equity grant and tax withholding is a standard practice across publicly traded companies, including REITs, for executive compensation.
• The specific number of shares and the value are particular to Whitestone REIT and its compensation plan, but the mechanism is consistent with industry norms for incentivizing and retaining key executives.

Stakeholder Impact

• Shareholders: The grant of restricted stock units to the Chief Operating Officer aligns her interests with shareholders, as her compensation is tied to the company's long-term performance.
• Employees: The transaction is part of the company's 2018 Long-Term Equity Incentive Ownership Plan, which is a standard mechanism for employee and executive compensation.

Key Dates

Keywords

Whitestone REIT, WSR, SEC Form 4, Insider Trading, Beneficial Ownership, Restricted Stock Units, Equity Incentive Plan, Christine J. Mastandrea, Chief Operating Officer, Stock Grant, Tax Withholding