CENTERSPACE - Director's Dealing 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INVESTORS REAL ESTATE TRUST (CSR)
CIK: 0000798359
Period of Report: 2021-04-30

Reporting Person: Olson Anne (COO, Gen Counsel and Secretary)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-04-30	Common Shares of Beneficial Interest	M	712	—	Acquired	6261	Direct
2021-04-30	Common Shares of Beneficial Interest	F	373	$70.39	Disposed	5888	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-04-30	Restricted Stock Units	$	M	712	Disposed		Common Shares of Beneficial Interest (712.0)	Direct

F1: Each restricted stock unit represents a contigent 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: The restricted stock units vest in equal annual increments on each of July 20, 2019, April 30, 2020 and April 30, 2021.