ADAM D. PORTNOY - 04 Dec 2025 Form 4 Insider Report for Seven Hills Realty Trust (SEVN)

Role: Director, 10%+ Owner
Signature: /s/ Adam D. Portnoy
Issuer symbol: SEVN
Transactions as of: 04 Dec 2025
Transactions value $: $8,839,989
Form type: 4
Filing time: 08 Dec 2025, 21:07:24 UTC
Previous filing: 18 Sep 2025
Next filing: 11 Dec 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
PORTNOY ADAM D.	Director, 10%+ Owner	TWO NEWTON PLACE,, 255 WASHINGTON STREET SUITE 300, NEWTON	/s/ Adam D. Portnoy	08 Dec 2025	0001273871

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SEVN	Common Shares of Beneficial Interest	Exercise of in-the-money or at-the-money derivative security	$949K	+110K	+50%	$8.65	329K	04 Dec 2025	Direct	F1
transaction	SEVN	Common Shares of Beneficial Interest	Exercise of in-the-money or at-the-money derivative security	$504K	+58.3K	+48.47%	$8.65	178K	04 Dec 2025	See Footnote	F1, F2
transaction	SEVN	Common Shares of Beneficial Interest	Exercise of in-the-money or at-the-money derivative security	$7.39M	+854K	+50%	$8.65	2.56M	04 Dec 2025	See Footnote	F1, F3

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	SEVN	Subscription Right (Right to Buy)	Exercise of in-the-money or at-the-money derivative security	$0	-219K	-100%	$0.00	0	04 Dec 2025	Common Shares	110K	$8.65	Direct	F1
transaction	SEVN	Subscription Right (Right to Buy)	Exercise of in-the-money or at-the-money derivative security	$0	-117K	-100%	$0.00	0	04 Dec 2025	Common Shares	58.3K	$8.65	See Footnote	F1, F2
transaction	SEVN	Subscription Right (Right to Buy)	Exercise of in-the-money or at-the-money derivative security	$0	-1.71M	-100%	$0.00	0	04 Dec 2025	Common Shares	854K	$8.65	See Footnote	F1, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On October 30, 2025, Seven Hills Realty Trust (the "Company") announced the terms of a pro rata offering of transferable subscription rights (the "Rights") to holders of the Company's common shares as of the record date of November 10, 2025 ("Record Date Shareholders"), entitling the holders of such Rights to subscribe for up to an aggregate of 7,532,861 of the Company's common shares (the "Rights Offering"). Record Date Shareholders received one Right for each outstanding common share they owned on the record date. The Rights entitled the Record Date Shareholders to purchase one new common share for every two Rights held. The Rights Offering expired on December 4, 2025.
F2	178,488 common shares are held by ABP Trust, which includes common shares acquired under a dividend reinvestment plan. Mr. Portnoy is a holder of shares of beneficial interest in, and the sole trustee of, ABP Trust. Mr. Portnoy may be deemed to be a beneficial owner of the common shares owned directly by ABP Trust, but Mr. Portnoy disclaims such beneficial ownership except to the extent of his pecuniary interest therein.
F3	2,562,087 common shares are held by Tremont Realty Capital LLC ("TRC"). TRC is a direct wholly owned subsidiary of The RMR Group LLC ("RMR LLC"), which is a direct majority owned subsidiary of The RMR Group Inc. ("RMR Inc."), of which Mr. Portnoy is a managing director and controlling shareholder through ABP Trust. Mr. Portnoy is also a beneficial owner and a director of TRC, RMR LLC and RMR Inc. and Mr. Portnoy may be deemed to beneficially own the common shares owned directly by TRC, but Mr. Portnoy disclaims such beneficial ownership except to the extent of his pecuniary interest therein.