STILWELL JOSEPH

Filed: 12/12/2025ACC: 0001213900-25-121055

InsiderSTILWELL JOSEPHCIK 1113303

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IssuerWHEELER REAL ESTATE INVESTMENT TRUST, INC.CIK 1527541

Director

Since Dec 2019

-28K

Net shares

Net seller

$0.00

Total acquired

Open market trades

0B · 0S

Total transactions

28K disposed

Non-Derivative Transactions0

No non-derivative transactions reported

Derivative Transactions2

Series B Convertible Preferred Stock

Indirect

S · Sale

Converts to

Common Stock

0.00 shares

−14.51K

Strike price

403200000

Held after

560.99K

Exercisable

—

12/10/2025

Series B Convertible Preferred Stock

Indirect

S · Sale

Converts to

Common Stock

0.00 shares

−13.49K

Strike price

403200000

Held after

116.99K

Exercisable

—

12/10/2025

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable	Held After
Series B Convertible Preferred Stock Indirect	Common Stock0.00 shares	12/10/2025	S · Sale	−14.51K	403200000	—	560.99K
Series B Convertible Preferred Stock Indirect	Common Stock0.00 shares	12/10/2025	S · Sale	−13.49K	403200000	—	116.99K

Non-Derivative Holdings (Post-Transaction)4

Common Stock

Indirect

Shares owned8.84K

Common Stock

Indirect

Shares owned80.00

Common Stock

Indirect

Shares owned43.92K

Common Stock

Indirect

Shares owned4.26K

Total

57.10K indirect57.10K

Security Title	Shares Owned	Ownership Type
Common Stock	8.84K	Indirect
Common Stock	80.00	Indirect
Common Stock	43.92K	Indirect
Common Stock	4.26K	Indirect
Total	57.10K	57.10K indirect

Derivative Holdings (Post-Transaction)9

7.00% Subordinated Convertible Notes due 2031

Indirect

Underlying security

Common Stock

Underlying shares

9.05M

Shares owned

N/A

Exercise price

1.90

Expiration

—

Exercise window

—

7.00% Subordinated Convertible Notes due 2031

Indirect

Underlying security

Common Stock

Underlying shares

1.32M

Shares owned

N/A

Exercise price

1.90

Expiration

—

Exercise window

—

Series D Cumulative Convertible Preferred Stock

Indirect

Underlying security

Common Stock

Underlying shares

0.00

Shares owned

91.28K

Exercise price

170956800

Expiration

—

Exercise window

—

Series D Cumulative Convertible Preferred Stock

Indirect

Underlying security

Common Stock

Underlying shares

0.00

Shares owned

18.16K

Exercise price

170956800

Expiration

—

Exercise window

—

7.00% Subordinated Convertible Notes due 2031

Indirect

Underlying security

Common Stock

Underlying shares

983.75K

Shares owned

N/A

Exercise price

1.90

Expiration

—

Exercise window

—

Series D Cumulative Convertible Preferred Stock

Indirect

Underlying security

Common Stock

Underlying shares

0.00

Shares owned

13.18K

Exercise price

170956800

Expiration

—

Exercise window

—

7.00% Subordinated Convertible Notes due 2031

Indirect

Underlying security

Common Stock

Underlying shares

291.49K

Shares owned

N/A

Exercise price

1.90

Expiration

—

Exercise window

—

Series D Cumulative Convertible Preferred Stock

Indirect

Underlying security

Common Stock

Underlying shares

0.00

Shares owned

1.36K

Exercise price

170956800

Expiration

—

Exercise window

—

Series B Convertible Preferred Stock

Indirect

Underlying security

Common Stock

Underlying shares

0.00

Shares owned

83.49K

Exercise price

403200000

Expiration

—

Exercise window

—

Total

Underlying

11.65M

Owned

207.46K

Security	Underlying	Exercise Price	Exercise Window	Expiration	Underlying Shares	Shares Owned
7.00% Subordinated Convertible Notes due 2031 Indirect	Common Stock	1.90	—	—	9.05M	N/A
7.00% Subordinated Convertible Notes due 2031 Indirect	Common Stock	1.90	—	—	1.32M	N/A
Series D Cumulative Convertible Preferred Stock Indirect	Common Stock	170956800	—	—	0.00	91.28K
Series D Cumulative Convertible Preferred Stock Indirect	Common Stock	170956800	—	—	0.00	18.16K
7.00% Subordinated Convertible Notes due 2031 Indirect	Common Stock	1.90	—	—	983.75K	N/A
Series D Cumulative Convertible Preferred Stock Indirect	Common Stock	170956800	—	—	0.00	13.18K
7.00% Subordinated Convertible Notes due 2031 Indirect	Common Stock	1.90	—	—	291.49K	N/A
Series D Cumulative Convertible Preferred Stock Indirect	Common Stock	170956800	—	—	0.00	1.36K
Series B Convertible Preferred Stock Indirect	Common Stock	403200000	—	—	0.00	83.49K
Total					11.65M	207.46K