CENTERSPACE — Director's Dealing 2015

Jun 26, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INVESTORS REAL ESTATE TRUST (IRET)
CIK: 0000798359
Period of Report: 2015-06-24

Reporting Person: MIHALICK TIMOTHY P (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-06-24	Common Shares of Beneficial Interest	A	35300	—	Acquired	172559.453	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares of Beneficial Interest	181.047	Indirect

Footnotes

F1: The stock award vests as to 50% of the shares on the date of grant and 50% of the shares on April 30, 2016 if he is still employed by the Company on such date.

F2: The total stock award was 50,000 shares, before deducting the number of shares withheld for the payment of estimated taxes.

F3: 41,110 of the shares are held by his 401(k) plan. 96,149.453 of the shares are held by him as Joint Tenant With Right of Survivorship with spouse.