Whitestone REIT — Director's Dealing 2018

May 2, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Whitestone REIT (WSR)
CIK: 0001175535
Period of Report: 2018-05-01

Reporting Person: MASTANDREA JAMES C (Director, CHAIRMAN & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-05-01	Common Shares	A	178917	—	Acquired	969418	Direct
2018-05-01	Common Shares	A	52450	—	Acquired	190779	Indirect

Footnotes

F1: Represents restricted common shares issued as a result of the vesting of certain performance based restricted share units previously granted pursuant to the Company's 2008 Long-Term Incentive Ownership Plan. Such restricted common shares are subject to risk of forfeiture and vest as follows: 1/4th on June 30, 2018, 1/4th on September 30, 2018, 1/4th on December 31, 2018, 1/4th on March 31, 2019.

F2: The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.