Frank Kavanaugh - Mar 28, 2024 Form 4/A Insider Report for Medalist Diversified REIT, Inc. (MDRR)

Role
CEO & PRESIDENT, Director, 10%+ Owner
Signature
/s/ Frank Kavanaugh
Stock symbol
MDRR
Transactions as of
Mar 28, 2024
Transactions value $
$0
Form type
4/A
Date filed
3/28/2024, 04:43 PM
Date Of Original Report
Mar 28, 2024
Previous filing
May 22, 2024
Next filing
May 20, 2024

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 MDRR Operating Partnership Units Purchase +417K +1078.61% 456K Mar 28, 2024 Common Stock 417K See footnote (5). F1, F2, F3, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Operating partnership units in the Issuer's operating partnership, Medalist Diversified Holdings, LP, are redeemable for cash or, at the operating partnership's option, shares of the Issuer's common stock on a one-for-one basis; however, pursuant to the related subscription agreement between the operating partnership and RMP 3535 N. Central Ave., LLC, RMP 3535 N. Central Ave., LLC may not redeem the operating partnership units for shares of the Issuer's common stock unless such redemption is approved by a majority of the votes cast on the matter at a meeting of the stockholders of the Issuer or by written consent of the stockholders of the Issuer in lieu of a special meeting to the extent permitted by applicable state and federal law.
F2 No expiration date
F3 Operating partnership units in the Issuer's operating partnership, Medalist Diversified Holdings, LP, are redeemable for cash or, at the operating partnership's option, shares of the Issuer's common stock on a one-for-one basis; however, pursuant to the related subscription agreement between the operating partnership and RMP 3535 N. Central Ave., LLC, RMP 3535 N. Central Ave., LLC may not redeem the operating partnership units for shares of the Issuer's common stock unless such redemption is approved by a majority of the votes cast on the matter at a meeting of the stockholders of the Issuer or by written consent of the stockholders of the Issuer in lieu of a special meeting to the extent permitted by applicable state and federal law.
F4 Operating partnership units in the Issuer's operating partnership, Medalist Diversified Holdings, LP, are redeemable for cash or, at the operating partnership's option, shares of the Issuer's common stock on a one-for-one basis; however, pursuant to the related subscription agreement between the operating partnership and RMP 3535 N. Central Ave., LLC, RMP 3535 N. Central Ave., LLC may not redeem the operating partnership units for shares of the Issuer's common stock unless such redemption is approved by a majority of the votes cast on the matter at a meeting of the stockholders of the Issuer or by written consent of the stockholders of the Issuer in lieu of a special meeting to the extent permitted by applicable state and federal law.
F5 Represents operating partnership units in the Issuer's operating partnership, Medalist Diversified Holdings, LP, held by RMP 3535 N. Central Ave., LLC, which is wholly-owned by CWS BET Seattle, LP, which is wholly-owned by BET Trust dated March 11, 1999, for which the Reporting Person and his wife are co-trustees.