CENTERSPACE — Director's Dealing 2021

Mar 16, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INVESTORS REAL ESTATE TRUST (CSR)
CIK: 0000798359
Period of Report: 2021-03-13

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-03-13	Common Shares of Beneficial Interest	A	1382	—	Acquired	29018	Direct
2021-03-13	Common Shares of Beneficial Interest	F	582	$73.40	Disposed	28436	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-03-13	Restricted Stock Units	$	M	1382	Disposed		Common Shares of Beneficial Interest (1382.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares of Beneficial Interest	1525	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 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: Restricted stock units vest in three equal annual installments, beginning on March 13, 2021, the first anniversary of the grant date.