CENTERSPACE — Director's Dealing 2020

Mar 23, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INVESTORS REAL ESTATE TRUST (IRET)
CIK: 0000798359
Period of Report: 2020-03-08

Reporting Person: Decker Mark Okey Jr (Director, President, CEO and CIO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-03-08	Common Shares of Beneficial Interest	M	876	—	Acquired	21713	Direct
2020-03-08	Common Shares of Beneficial Interest	F	447	$75.79	Disposed	21279	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-03-08	Restricted Stock Units	$	M	876	Disposed		Common Shares of Beneficial Interest (876)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares of Beneficial Interest	1400	Indirect
Common Shares of Beneficial Interest	20	Indirect
Common Shares of Beneficial Interest	20	Indirect
Common Shares of Beneficial Interest	20	Indirect
Common Shares of Beneficial Interest	20	Indirect

Footnotes

F1: Each restricted stock unit represents a contingent right to receive one share of IRET common stock.

F2: Shares withheld for payment of taxes in connection with the vesting of restricted stock.

F3: Restricted stock units vest in three cumulative annual installments beginning the date shown.

F4: Includes 13 shares acquired through March 2, 2020 under the Issuer's dividend reinvestment plan.