STILWELL JOSEPH

Filed: 11/17/2025ACC: 0001213900-25-111485

InsiderSTILWELL JOSEPHCIK 1113303

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IssuerWHEELER REAL ESTATE INVESTMENT TRUST, INC.CIK 1527541

Director

Since Dec 2019

0.00

Net shares

Net seller

$0.00

Total acquired

Open market trades

0B · 0S

Total transactions

Non-Derivative Transactions0

No non-derivative transactions reported

Derivative Transactions2

7.00% Subordinated Convertible Notes due 2031

Indirect

S · Sale

Converts to

Common Stock

1.15M shares

−N/A

Strike price

1.74

Held after

N/A

Exercisable

—

11/13/2025

7.00% Subordinated Convertible Notes due 2031

Indirect

P · Purchase

Converts to

Common Stock

179.36K shares

+N/A

Strike price

1.74

Held after

N/A

Exercisable

—

11/13/2025

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable	Held After
7.00% Subordinated Convertible Notes due 2031 Indirect	Common Stock1.15M shares	11/13/2025	S · Sale	−N/A	1.74	—	N/A
7.00% Subordinated Convertible Notes due 2031 Indirect	Common Stock179.36K shares	11/13/2025	P · Purchase	+N/A	1.74	—	N/A

Non-Derivative Holdings (Post-Transaction)4

Common Stock

Indirect

Shares owned87.84K

Common Stock

Indirect

Shares owned8.52K

Common Stock

Indirect

Shares owned161.00

Common Stock

Indirect

Shares owned17.68K

Total

114.20K indirect114.20K

Security Title	Shares Owned	Ownership Type
Common Stock	87.84K	Indirect
Common Stock	8.52K	Indirect
Common Stock	161.00	Indirect
Common Stock	17.68K	Indirect
Total	114.20K	114.20K indirect

Derivative Holdings (Post-Transaction)9

Series D Cumulative Convertible Preferred Stock

Indirect

Underlying security

Common Stock

Underlying shares

0.00

Shares owned

13.18K

Exercise price

85478400

Expiration

—

Exercise window

—

7.00% Subordinated Convertible Notes due 2031

Indirect

Underlying security

Common Stock

Underlying shares

1.44M

Shares owned

N/A

Exercise price

1.74

Expiration

—

Exercise window

—

Series D Cumulative Convertible Preferred Stock

Indirect

Underlying security

Common Stock

Underlying shares

0.00

Shares owned

91.28K

Exercise price

85478400

Expiration

—

Exercise window

—

7.00% Subordinated Convertible Notes due 2031

Indirect

Underlying security

Common Stock

Underlying shares

9.85M

Shares owned

N/A

Exercise price

1.74

Expiration

—

Exercise window

—

Series D Cumulative Convertible Preferred Stock

Indirect

Underlying security

Common Stock

Underlying shares

0.00

Shares owned

18.16K

Exercise price

85478400

Expiration

—

Exercise window

—

Series D Cumulative Convertible Preferred Stock

Indirect

Underlying security

Common Stock

Underlying shares

0.00

Shares owned

1.36K

Exercise price

85478400

Expiration

—

Exercise window

—

Series B Convertible Preferred Stock

Indirect

Underlying security

Common Stock

Underlying shares

0.00

Shares owned

575.49K

Exercise price

201600000

Expiration

—

Exercise window

—

Series B Convertible Preferred Stock

Indirect

Underlying security

Common Stock

Underlying shares

0.00

Shares owned

83.49K

Exercise price

201600000

Expiration

—

Exercise window

—

Series B Convertible Preferred Stock

Indirect

Underlying security

Common Stock

Underlying shares

0.00

Shares owned

130.48K

Exercise price

201600000

Expiration

—

Exercise window

—

Total

Underlying

11.29M

Owned

913.44K

Security	Underlying	Exercise Price	Exercise Window	Expiration	Underlying Shares	Shares Owned
Series D Cumulative Convertible Preferred Stock Indirect	Common Stock	85478400	—	—	0.00	13.18K
7.00% Subordinated Convertible Notes due 2031 Indirect	Common Stock	1.74	—	—	1.44M	N/A
Series D Cumulative Convertible Preferred Stock Indirect	Common Stock	85478400	—	—	0.00	91.28K
7.00% Subordinated Convertible Notes due 2031 Indirect	Common Stock	1.74	—	—	9.85M	N/A
Series D Cumulative Convertible Preferred Stock Indirect	Common Stock	85478400	—	—	0.00	18.16K
Series D Cumulative Convertible Preferred Stock Indirect	Common Stock	85478400	—	—	0.00	1.36K
Series B Convertible Preferred Stock Indirect	Common Stock	201600000	—	—	0.00	575.49K
Series B Convertible Preferred Stock Indirect	Common Stock	201600000	—	—	0.00	83.49K
Series B Convertible Preferred Stock Indirect	Common Stock	201600000	—	—	0.00	130.48K
Total					11.29M	913.44K