CENTERSPACE — Director's Dealing 2019

Jul 23, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INVESTORS REAL ESTATE TRUST (IRET)
CIK: 0000798359
Period of Report: 2019-07-20

Reporting Person: Hall Linda J. (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-07-20	Common Shares of Beneficial Interest	M	753	—	Acquired	5161	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-07-20	Restricted Stock Units	$	M	753	Disposed	2019-07-20	Common Shares of Beneficial Interest (753)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares of Beneficial Interest	1100	Indirect
Common Shares of Beneficial Interest	600	Indirect

Footnotes

F1: Effective at the close of market on December 27, 2018, the Issuer effected a 1-for-10 reverse stock split of its issued and outstanding common shares of beneficial interest, resulting in a proportional decrease in the total common shares beneficially owned by the reporting person. All previously reported restricted stock unit and option grants, option exercise prices, and securities convertible into common stock were proportionally adjusted to reflect the reverse split. The reporting person will receive cash in lieu of fractional shares in the reverse stock split.

F2: Each restricted stock unit represents a contingent right to receive one share of IRET common stock.