Whitestone REIT — Director's Dealing 2021

Mar 18, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Whitestone REIT (WSR)
CIK: 0001175535
Period of Report: 2020-06-02

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-06-02	Common Shares	M	126431	—	Acquired	126431	Indirect
2021-03-16	Common Shares	F	2136	$10.04	Disposed	265972	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-06-02	OP Units	$	M	126431	Disposed		Common Shares (126431.0)	Indirect

Footnotes

F1: Units of limited partnership ("OP Units") in Whitestone REIT Operating Partnership, L.P., a Delaware limited partnership, were redeemable at the holder's election at any time for cash or, at the option of the Company, common shares on a one-for-one basis. On June 2, 2020, the holder tendered its OP Units to the Company for redemption and such OP Units were redeemed for common shares.

F2: Represents common shares held by Midwest Development Venture IV, an Illinois limited partnership ("Midwest"). Ms. Mastandrea's spouse, James Mastandrea, owns both a limited partner interest in Midwest and 100% of the equity of the general partner of Midwest. As a result, Ms. Mastandrea may be deemed to be the beneficial owner of the common shares held by Midwest. The reporting person disclaims beneficial ownership in these shares except to the extent of her 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.

F3: 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 2008 Long-Term Equity Incentive Ownership Plan.

F4: Per Share value assigned by the Company to the tax withholding shares based on the closing sales price of the common shares on March 16, 2021.

F5: The reporting person disclaims beneficial ownership of these securities except to the extent of her 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.