KORSMO MICHELLE L. purchased 159.7% of their position (3.55K shares) of STERLING REAL ESTATE TRUST on the open market

Open‑market purchase worth $85.1K — a major conviction buy. The strongest form of insider conviction signal.

P · 4 purchases

KORSMO MICHELLE L.

Filed: 7/17/2025ACC: 0001415889-25-019909

InsiderKORSMO MICHELLE L.CIK 1709430

→

IssuerSTERLING REAL ESTATE TRUSTCIK 1412502

Other

Since Jul 2018

+4.46K

Net shares

Net buyer

$106.5K

Total acquired

Open market trades

4B · 0S

Total transactions

4.46K acquired

Non-Derivative Transactions9

Common Shares

Direct

A · Award

+405.00

Price / share

$24.00

Trade value

$9.72K

% of position

1.6%

7/15/2025

24.71K→25.12K

Common Shares

Direct

A · Award

+325.14

Price / share

$22.80

Trade value

$7.41K

% of position

1.3%

7/15/2025

25.12K→25.44K

Common Shares

Indirect

A · Award

+61.37

Price / share

$22.80

Trade value

$1.40K

% of position

1.3%

7/15/2025

4.66K→4.73K

Common Shares

Indirect

A · Award

+61.37

Price / share

$22.80

Trade value

$1.40K

% of position

1.3%

7/15/2025

4.66K→4.73K

Common Shares

Indirect

A · Award

+61.37

Price / share

$22.80

Trade value

$1.40K

% of position

1.3%

7/15/2025

4.66K→4.73K

Common Shares

Direct

P · Purchase

+421.88

Price / share

$24.00

Trade value

$10.13K

% of position

1.7%

7/15/2025

25.44K→25.86K

Common Shares

Indirect

P · Purchase

+1.04K

Price / share

$24.00

Trade value

$25K

% of position

22.0%

7/15/2025

4.73K→5.77K

Common Shares

Indirect

P · Purchase

+1.04K

Price / share

$24.00

Trade value

$25K

% of position

22.0%

7/15/2025

4.73K→5.77K

Common Shares

Indirect

P · Purchase

+1.04K

Price / share

$24.00

Trade value

$25K

% of position

22.0%

7/15/2025

4.73K→5.77K

Total

Net shares

+4.46K

Net value

$106.46K

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Shares Direct	7/15/2025	A · Award	+405.00	$24.00	$9.72K	1.6%	24.71K	25.12K
Common Shares Direct	7/15/2025	A · Award	+325.14	$22.80	$7.41K	1.3%	25.12K	25.44K
Common Shares Indirect	7/15/2025	A · Award	+61.37	$22.80	$1.40K	1.3%	4.66K	4.73K
Common Shares Indirect	7/15/2025	A · Award	+61.37	$22.80	$1.40K	1.3%	4.66K	4.73K
Common Shares Indirect	7/15/2025	A · Award	+61.37	$22.80	$1.40K	1.3%	4.66K	4.73K
Common Shares Direct	7/15/2025	P · Purchase	+421.88	$24.00	$10.13K	1.7%	25.44K	25.86K
Common Shares Indirect	7/15/2025	P · Purchase	+1.04K	$24.00	$25K	22.0%	4.73K	5.77K
Common Shares Indirect	7/15/2025	P · Purchase	+1.04K	$24.00	$25K	22.0%	4.73K	5.77K
Common Shares Indirect	7/15/2025	P · Purchase	+1.04K	$24.00	$25K	22.0%	4.73K	5.77K
Total			+4.46K		$106.46K

Derivative Transactions0

No derivative transactions reported

Non-Derivative Holdings (Post-Transaction)0

No non-derivative holdings reported

Derivative Holdings (Post-Transaction)1

Limited Partnership Units

Indirect

Underlying security

Common Shares

Underlying shares

34.51K

Shares owned

34.51K

Exercise price

Expiration

—

Exercise window

—

Total

Underlying

34.51K

Owned

34.51K

Security	Underlying	Exercise Price	Exercise Window	Expiration	Underlying Shares	Shares Owned
Limited Partnership Units Indirect	Common Shares	24	—	—	34.51K	34.51K
Total					34.51K	34.51K