Frank Kavanaugh - Oct 11, 2024 Form 4 Insider Report for Medalist Diversified REIT, Inc. (MDRR)

Signature
/s/ Frank Kavanaugh
Stock symbol
MDRR
Transactions as of
Oct 11, 2024
Transactions value $
$0
Form type
4
Date filed
10/15/2024, 07:56 AM
Previous filing
Sep 16, 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 +160K +70.16% 388K Oct 11, 2024 Common Stock 160K Direct F1, F2, F3, F4
* 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 Francis P. Kavanaugh, Francis P. Kavanuagh 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 Francis P. Kavanaugh, Francis P. Kavanaugh 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 Francis P. Kavanaugh, Francis P. Kavanaugh 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.