Power REIT — Director's Dealing 2021

May 15, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Power REIT (PW)
CIK: 0001532619
Period of Report: 2021-05-12

Reporting Person: Lesser David H (Director, CEO, Secretary, Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-12	Common Stock	A	20000	—	Acquired	428217	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	68679	Indirect
Common Stock	132074	Indirect
Common Stock	155000	Indirect
Common Stock	123020	Indirect

Footnotes

F1: On May 12, 2021, Mr. Lesser was granted 20,000 shares pursuant to Power REIT's 2020 Equity Incentive Plan which vests monthly in equal amounts over three years, with the first vesting to occur on 6/1/21.

F2: Hudson Bay Partners, LP which is owned 100% by David H. Lesser acts as the Co-Managing Member of 13310 LMR2A LLC but disclaims beneficial ownership of such shares except to the extent of any pecuniary interest
therein.

F3: Hudson Bay Partners, LP which is owned 100% by David H. Lesser acts as the Managing Member of PW RO Holdings LLC. but disclaims beneficial ownership of such shares except to the extent of any pecuniary interest
therein.

F4: Hudson Bay Partners, LP, which is owned 100% by David H. Lesser acts as the Managing Member of PW RO Holdings 2 LLC but disclaims beneficial ownership of all shares except to the extent of any pecuniary interest
therein.

F5: Hudson Bay Partners, LP which is owned 100% by David H. Lesser acts as the Managing Member of PW RO Holdings 3 LLC but disclaims beneficial ownership of all shares except to the extent of any pecuniary interest
therein.