Barnes-Smith Matthew 4
4 · AH Realty Trust, Inc. · Filed Mar 13, 2026
Research Summary
AI-generated summary of this filing
AH Realty (AHRT) CFO Barnes‑Smith Exercises 20,892 LTIP Units
What Happened
Matthew Barnes‑Smith, CFO, Treasurer and Secretary of AH Realty Trust, Inc. (AHRT), reported the exercise/conversion of 20,892 in‑the‑money derivative units on March 11, 2026. The filing shows both an acquisition and a disposition of 20,892 shares at $0.00 (derivative transaction), reflecting the conversion of Time‑Based LTIP Units into Common Units (footnote F4). No cash was paid for the exercise (exercise price reported as $0.00).
Key Details
- Transaction date: 2026-03-11; Form 4 filed: 2026-03-13 (appears timely).
- Reported amounts: 20,892 shares acquired and 20,892 shares disposed; price per share reported $0.00; total cash reported $0.
- Shares owned after transaction: not specified in the provided filing excerpt.
- Relevant footnotes: F1–F4 explain these were Time‑Based LTIP Units convertible into Common Units at the holder’s election; F2 notes conversion restrictions (generally not convertible until two years after grant except in a change of control); F3 notes Common Units are redeemable for cash equal to market value or, at the company’s election, for common stock. F4 specifically states these units were granted on March 11, 2024 and converted at the reporting person's election.
- No 10b5‑1 plan, tax withholding, or late filing indication noted in the provided data.
Context
This was a derivative conversion (exercise of LTIP units) rather than an open‑market purchase or sale. The $0.00 exercise price indicates a conversion of vested LTIP units into Common Units rather than a cash purchase. Common Units received can typically be redeemed for cash equal to the then‑current market value or, at the company’s option, exchanged for shares of AHRT common stock per the OP Agreement.
Insider Transaction Report
- Exercise of In-Money
Time-Based LTIP Units
[F1][F2][F3][F4]2026-03-11−20,892→ 325,953 total→ Common Stock (20,892 underlying) - Exercise of In-Money
Common Units
[F3][F5][F4]2026-03-11+20,892→ 20,892 total→ Common Stock (20,892 underlying)
- 10,131
Common Stock
- 207,202
Performance LTIP Units
[F3][F6]→ Common Stock (207,202 underlying)
Footnotes (6)
- [F1]Represents Time-Based LTIP Units ("Time-Based LTIP Units") in AH Realty Trust, LP (the "Operating Partnership"), the operating partnership of AH Realty Trust, Inc. (the "Company"), and of which the Company is the general partner. Under the agreement of limited partnership of the Operating Partnership (the "OP Agreement") and subject to conditions set forth in the OP Agreement, following the date on which the Time-Based LTIP Units vest, Time-Based LTIP Units are convertible into common units of limited partnership interest in the Operating Partnership ("Common Units"), at the holder's option.
- [F2]Under the award agreement pursuant to which the Time-Based LTIP Units were granted to the reporting person, except in connection with a Change of Control (as defined in the OP Agreement), the Time-Based LTIP Units may not be converted to Common Units until two years following the date of grant. 236,710 of the Time-Based LTIP Units are also subject to an additional one year holding period following the vesting. Time-Based LTIP Units have no expiration date.
- [F3]Each Common Unit is redeemable for cash equal to the then-current market value of one share of the Company's common stock or, at the election of the Company, one share of the Company's common stock. Common Units have no expiration date.
- [F4]Represents the conversion of Time-Based LTIP Units granted on March 11, 2024 into Common Units at the election of the reporting person.
- [F5]Represents Common Units. All Common Units reflected in this report may be tendered for redemption by the holder.
- [F6]Represents Performance LTIP Units in the Operating Partnership ("Performance LTIP Units"). Under the OP Agreement and subject to conditions set forth in the OP Agreement, following the date on which the Performance LTIP Units vest, Performance LTIP Units are convertible into Common Units at the holder's option. Under the award agreement pursuant to which the Performance LTIP Units were granted to the Reporting Person, except in connection with a Change of Control (as defined in the OP Agreement), the Performance LTIP Units may not be converted to Common Units until two years following the date of grant. Additionally, 141,196 of the Performance LTIP Units are subject to an additional one year holding period following the vesting. Performance LTIP Units have no expiration date.