Andrew Franklin - Sep 11, 2025 Form 4 Insider Report for Wheeler Real Estate Investment Trust, Inc. (WHLR)

Role
CEO
Signature
/s/ M. Andrew Franklin
Stock symbol
WHLR
Transactions as of
Sep 11, 2025
Transactions value $
-$5,317
Form type
4
Date filed
9/12/2025, 04:08 PM
Previous filing
Jul 2, 2025
Next filing
Sep 30, 2025

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Franklin Michael Andrew CEO 2529 VIRGINIA BEACH BLVD, VIRGINIA BEACH /s/ M. Andrew Franklin 2025-09-12 0001697904

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 WHLR 7.00% Senior Subordinated Convertible Notes due 2031 Sale -$425 $26.3K Sep 11, 2025 Common Stock 433 $0.98 Direct F3, F4, F5
transaction WHLR Series B Convertible Preferred Stock Sale -$4.89K -1.22K -100% $4.00 0 Sep 11, 2025 Common Stock 0 $40,320,000.00 Direct F6, F7
holding WHLR Series D Cumulative Convertible Preferred Stock 555 Sep 11, 2025 Common Stock 0 $17,095,680.00 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each share of the Issuer's Series D Cumulative Convertible Preferred Stock ("Series D Preferred Stock") is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock).
F2 Series D Preferred Stock has no expiration date.
F3 The Issuer's 7.00% Subordinated Convertible Notes due 2031 (the "Notes") are convertible, in whole or in part, at any time, at the option of the holders thereof, into shares of the Issuer's common stock at a conversion price of approximately $0.98 per share (approximately 25.47 common shares for each $25.00 of principal amount of the Notes being converted).
F4 Interest on the Notes may be payable, at the Issuer's election, in cash, in shares of the Issuer's Series B Convertible Preferred Stock ("Series B Preferred Stock") or in shares of Series D Preferred Stock, in each case as set forth in the Notes. The number of shares of the Issuer's common stock indicated in the Table is based on the outstanding principal amount of the Notes held by the Reporting Person.
F5 The price reported in Column 8 is an aggregate purchase price. These Notes were sold at a price of $150.00 per $25.00 of aggregate principal amount.
F6 Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.0000006 shares of the Issuer's common stock (a conversion price of $40,320,000 per share of common stock).
F7 The Series B Preferred Stock has no expiration date.