Frank Kavanaugh - Jan 24, 2025 Form 4 Insider Report for Medalist Diversified REIT, Inc. (MDRR)

Role
CHAIRMAN, CEO & PRESIDENT, Director, 10%+ Owner
Signature
/s/ Frank Kavanaugh, Attorney-in-Fact
Stock symbol
MDRR
Transactions as of
Jan 24, 2025
Transactions value $
$0
Form type
4
Date filed
1/27/2025, 02:08 PM
Previous filing
Jan 17, 2025
SEC
View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction MDRR Operating Partnership Units Purchase +210K +52.06% 612K Jan 24, 2025 Common Stock 210K See footnote (5). F1, F2, F3, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Operating partnership units in the Issuer's operating partnership, Medalist Diversified Holdings, LP, are redeemable for cash or, at the operating partnership's option, shares of the Issuer's common stock on a one-for-one basis; however, pursuant to the related subscription agreement between the operating partnership and BET Trust, BET Trust may not redeem the operating partnership units for shares of the Issuer's common stock unless such redemption is approved by a majority of the votes cast on the matter at a meeting of the stockholders of the Issuer or by written consent of the stockholders of the Issuer in lieu of a special meeting to the extent permitted by applicable state and federal law.
F2 No expiration date.
F3 Operating partnership units in the Issuer's operating partnership, Medalist Diversified Holdings, LP, are redeemable for cash or, at the operating partnership's option, shares of the Issuer's common stock on a one-for-one basis; however, pursuant to the related subscription agreement between the operating partnership and BET Trust, BET Trust may not redeem the operating partnership units for shares of the Issuer's common stock unless such redemption is approved by a majority of the votes cast on the matter at a meeting of the stockholders of the Issuer or by written consent of the stockholders of the Issuer in lieu of a special meeting to the extent permitted by applicable state and federal law.
F4 Operating partnership units in the Issuer's operating partnership, Medalist Diversified Holdings, LP, are redeemable for cash or, at the operating partnership's option, shares of the Issuer's common stock on a one-for-one basis; however, pursuant to the related subscription agreement between the operating partnership and BET Trust, BET Trust may not redeem the operating partnership units for shares of the Issuer's common stock unless such redemption is approved by a majority of the votes cast on the matter at a meeting of the stockholders of the Issuer or by written consent of the stockholders of the Issuer in lieu of a special meeting to the extent permitted by applicable state and federal law.
F5 Represents operating partnership units in the Issuer's operating partnership, Medalist Diversified Holdings, LP, held by BET Trust dated March 11, 1999, for which the Reporting Person and his wife are co-trustees.