CENTERSPACE — Director's Dealing 2022

Jan 4, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CENTERSPACE (CSR)
CIK: 0000798359
Period of Report: 2022-01-01

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-01-01	Common Shares of Beneficial Interest	M	539	—	Acquired	10653	Direct
2022-01-01	Common Shares of Beneficial Interest	F	311	$110.90	Disposed	10342	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-01-01	Restricted Stock Units	$0.0	A	1121	Acquired		Common Shares of Beneficial Interest (1121.0)	Direct
2022-01-01	Restricted Stock Units	$0.0	M	539	Disposed	2022-01-01	Common Shares of Beneficial Interest (539.0)	Direct
2022-01-01	Stock Options (Right to Buy)	$110.9	A	7525	Acquired	2032-01-01	Common Shares of Beneficial Interest (7525.0)	Direct

Footnotes

F1: The number of shares includes 929 additional shares that were not previously reported due to administrative errors. The majority of these shares are time-vested RSUs that were appropriately reported as derivates on the reporting person's Forms 4 at the time of grant, but not recategorized as shares of common stock at the time of vesting.

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

F3: Represents a contingent right to receive 1,121 common shares of beneficial interest of Centerspace vesting over three years, in one-third increments on each anniversary of the grant date: January 1, 2023, 2024 and 2025.

F4: Represents the right to purchase 7,525 common shares of beneficial interest of the Centerspace, vesting over four years in one-fourth increments on each anniversary of the grant date: January 1, 2023, 2024, 2025 and 2026.