Whitestone REIT — Director's Dealing 2021

Aug 2, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Whitestone REIT (WSR)
CIK: 0001175535
Period of Report: 2021-07-31

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-07-31	Common Shares	F	1522	$8.85	Disposed	293572	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	1526512	Direct
Common Shares	126431	Indirect

Footnotes

F1: Represents common shares held by Midwest Development Venture IV, an Illinois limited partnership ("Midwest"). Mr. Mastandrea owns both a limited partner interest in Midwest and 100% of the equity of the general partner of Midwest. As a result, Mr. Mastandrea may be deemed to be the beneficial owner of the common shares held by Midwest. Mr. Mastandrea disclaims beneficial ownership in the common shares held by Midwest except to the extent of his pecuniary interest therein and the inclusion of these common shares in this report shall not be deemed an admission of beneficial ownership of all of the reported common shares for purposes of Section 16 or for any other purpose.

F2: Represents common shares withheld by the Company to satisfy tax withholding obligations in connection with the vesting of certain restricted units previously granted pursuant to the Company's 2018 Long-Term Equity Incentive Ownership Plan.

F3: Per Share value assigned by the Company to the tax withholding shares based on the closing sales price of the common shares on July 30, 2021.

F4: 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.