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: 2021-03-08

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

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-03-08	Common Shares of Beneficial Interest	M	559	—	Acquired	5497	Direct
2021-03-08	Common Shares of Beneficial Interest	F	279	$73.42	Disposed	5218	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-03-08	Restricted Stock Units	$	M	559	Disposed		Common Shares of Beneficial Interest (559.0)	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: Restricted stock units vest in three equal annual installments, beginning on March 8, 2020, the first anniversary of the grant date.