STILWELL JOSEPH received a stock award from WHEELER REAL ESTATE INVESTMENT TRUST, INC.

Compensation award — not an open‑market transaction. Less informative as a directional signal.

A · 5 awards

STILWELL JOSEPH

Filed: 9/25/2026ACC: 0001213900-26-103642

InsiderSTILWELL JOSEPHCIK 1113303

→

IssuerWHEELER REAL ESTATE INVESTMENT TRUST, INC.CIK 1527541

Director

Since Dec 2019

+494.02K

Net shares

Net buyer

$0.00

Total acquired

Open market trades

0B · 0S

Total transactions

566.67K acquired · 72.65K disposed

Non-Derivative Transactions5

Common Stock

Indirect

A · Award

+184.66K

Price / share

—

Trade value

—

% of position

3077583.3%

9/23/2026

6.00→184.66K

Common Stock

Indirect

A · Award

+257.90K

Price / share

—

Trade value

—

% of position

139.7%

9/23/2026

184.66K→442.56K

Common Stock

Indirect

A · Award

+25.52K

Price / share

—

Trade value

—

% of position

New position

9/23/2026

0.00→25.52K

Common Stock

Indirect

A · Award

+35.77K

Price / share

—

Trade value

—

% of position

140.2%

9/23/2026

25.52K→61.28K

Common Stock

Indirect

A · Award

+62.83K

Price / share

—

Trade value

—

% of position

New position

9/23/2026

0.00→62.83K

Total

Net shares

+566.67K

Net value

$0.00

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Stock Indirect	9/23/2026	A · Award	+184.66K	—	—	3077583.3%	6.00	184.66K
Common Stock Indirect	9/23/2026	A · Award	+257.90K	—	—	139.7%	184.66K	442.56K
Common Stock Indirect	9/23/2026	A · Award	+25.52K	—	—	New position	0.00	25.52K
Common Stock Indirect	9/23/2026	A · Award	+35.77K	—	—	140.2%	25.52K	61.28K
Common Stock Indirect	9/23/2026	A · Award	+62.83K	—	—	New position	0.00	62.83K
Total			+566.67K		$0.00

Derivative Transactions9

Series D Cumulative Convertible Preferred Stock

Indirect

D · Disposition

Converts to

Common Stock

0.00 shares

−3.29K

Strike price

Held after

134.68K

Exercisable

—

9/23/2026

Series D Cumulative Convertible Preferred Stock

Indirect

D · Disposition

Converts to

Common Stock

0.00 shares

−6.58K

Strike price

Held after

128.10K

Exercisable

—

9/23/2026

Series D Cumulative Convertible Preferred Stock

Indirect

D · Disposition

Converts to

Common Stock

0.00 shares

−491.00

Strike price

Held after

19.54K

Exercisable

—

9/23/2026

Series D Cumulative Convertible Preferred Stock

Indirect

D · Disposition

Converts to

Common Stock

0.00 shares

−955.00

Strike price

Held after

18.59K

Exercisable

—

9/23/2026

Series D Cumulative Convertible Preferred Stock

Indirect

D · Disposition

Converts to

Common Stock

0.00 shares

−3.22K

Strike price

Held after

0.00

Exercisable

—

9/23/2026

Series B Convertible Preferred Stock

Indirect

D · Disposition

Converts to

Common Stock

0.00 shares

−24.73K

Strike price

Held after

522.79K

Exercisable

—

9/23/2026

Series B Convertible Preferred Stock

Indirect

D · Disposition

Converts to

Common Stock

0.00 shares

−26.60K

Strike price

Held after

496.19K

Exercisable

—

9/23/2026

Series B Convertible Preferred Stock

Indirect

D · Disposition

Converts to

Common Stock

0.00 shares

−3.27K

Strike price

Held after

69.11K

Exercisable

—

9/23/2026

Series B Convertible Preferred Stock

Indirect

D · Disposition

Converts to

Common Stock

0.00 shares

−3.52K

Strike price

Held after

65.60K

Exercisable

—

9/23/2026

Security	Converts To	Date	Type	Shares	Exercisable	Held After
Series D Cumulative Convertible Preferred Stock Indirect	Common Stock0.00 shares	9/23/2026	D · Disposition	−3.29K	—	134.68K
Series D Cumulative Convertible Preferred Stock Indirect	Common Stock0.00 shares	9/23/2026	D · Disposition	−6.58K	—	128.10K
Series D Cumulative Convertible Preferred Stock Indirect	Common Stock0.00 shares	9/23/2026	D · Disposition	−491.00	—	19.54K
Series D Cumulative Convertible Preferred Stock Indirect	Common Stock0.00 shares	9/23/2026	D · Disposition	−955.00	—	18.59K
Series D Cumulative Convertible Preferred Stock Indirect	Common Stock0.00 shares	9/23/2026	D · Disposition	−3.22K	—	0.00
Series B Convertible Preferred Stock Indirect	Common Stock0.00 shares	9/23/2026	D · Disposition	−24.73K	—	522.79K
Series B Convertible Preferred Stock Indirect	Common Stock0.00 shares	9/23/2026	D · Disposition	−26.60K	—	496.19K
Series B Convertible Preferred Stock Indirect	Common Stock0.00 shares	9/23/2026	D · Disposition	−3.27K	—	69.11K
Series B Convertible Preferred Stock Indirect	Common Stock0.00 shares	9/23/2026	D · Disposition	−3.52K	—	65.60K

Non-Derivative Holdings (Post-Transaction)1

Common Stock

Indirect

Shares owned1.00

Total

1.00 indirect1.00

Security Title	Shares Owned	Ownership Type
Common Stock	1.00	Indirect
Total	1.00	1.00 indirect

Derivative Holdings (Post-Transaction)6

7.00% Subordinated Convertible Notes due 2031

Indirect

Underlying security

Common Stock

Underlying shares

516.86K

Shares owned

N/A

Exercise price

4.85

Expiration

—

Exercise window

—

7.00% Subordinated Convertible Notes due 2031

Indirect

Underlying security

Common Stock

Underlying shares

165.42K

Shares owned

N/A

Exercise price

4.85

Expiration

—

Exercise window

—

7.00% Subordinated Convertible Notes due 2031

Indirect

Underlying security

Common Stock

Underlying shares

3.54M

Shares owned

N/A

Exercise price

4.85

Expiration

—

Exercise window

—

7.00% Subordinated Convertible Notes due 2031

Indirect

Underlying security

Common Stock

Underlying shares

242.93K

Shares owned

N/A

Exercise price

4.85

Expiration

—

Exercise window

—

Series B Convertible Preferred Stock

Indirect

Underlying security

Common Stock

Underlying shares

0.00

Shares owned

90.56K

Exercise price

Expiration

—

Exercise window

—

Series D Cumulative Convertible Preferred Stock

Indirect

Underlying security

Common Stock

Underlying shares

0.00

Shares owned

21.15K

Exercise price

Expiration

—

Exercise window

—

Total

Underlying

4.47M

Owned

111.71K

Security	Underlying	Exercise Price	Exercise Window	Expiration	Underlying Shares	Shares Owned
7.00% Subordinated Convertible Notes due 2031 Indirect	Common Stock	4.85	—	—	516.86K	N/A
7.00% Subordinated Convertible Notes due 2031 Indirect	Common Stock	4.85	—	—	165.42K	N/A
7.00% Subordinated Convertible Notes due 2031 Indirect	Common Stock	4.85	—	—	3.54M	N/A
7.00% Subordinated Convertible Notes due 2031 Indirect	Common Stock	4.85	—	—	242.93K	N/A
Series B Convertible Preferred Stock Indirect	Common Stock		—	—	0.00	90.56K
Series D Cumulative Convertible Preferred Stock Indirect	Common Stock		—	—	0.00	21.15K
Total					4.47M	111.71K