Mark O. Decker Jr - May 26, 2021 Form 4 Insider Report for INVESTORS REAL ESTATE TRUST (CSR)

Role: President, CEO and CIO, Director
Signature: Anne Olson, Attorney in Fact for Mark O. Decker, Jr.
Stock symbol: CSR
Transactions as of: May 26, 2021
Transactions value $: -$247,702
Form type: 4
Date filed: 5/28/2021, 01:39 PM
Next filing: Jul 2, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CSR	Common Shares of Beneficial Interest	Award	$0	+8.53K	+29.49%	$0.00	37.5K	May 26, 2021	Direct	F1
transaction	CSR	Common Shares of Beneficial Interest	Tax liability	-$248K	-3.52K	-9.39%	$70.39	34K	May 26, 2021	Direct
holding	CSR	Common Shares of Beneficial Interest						1.53K	May 26, 2021	By Spouse IRA
holding	CSR	Common Shares of Beneficial Interest						20	May 26, 2021	Child 1
holding	CSR	Common Shares of Beneficial Interest						20	May 26, 2021	Child 2
holding	CSR	Common Shares of Beneficial Interest						20	May 26, 2021	Child 3
holding	CSR	Common Shares of Beneficial Interest						20	May 26, 2021	Child 4

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

Explanation of Responses:

Id	Content
F1	On July 20, 2018, the reporting person was granted a performance share award based on the Company's total shareholder return ("TSR") compared to the MSCI U.S. REIT Index (the "Index") for the measurement period of May 1, 20218 through April 30, 2021. For the measurement period, the Company's TSR was at the 66th percentile of the Index, resulting in a payout at 162% of target, or 8,534 shares, being earned under the performance share award.

Content

On July 20, 2018, the reporting person was granted a performance share award based on the Company's total shareholder return ("TSR") compared to the MSCI U.S. REIT Index (the "Index") for the measurement period of May 1, 20218 through April 30, 2021. For the measurement period, the Company's TSR was at the 66th percentile of the Index, resulting in a payout at 162% of target, or 8,534 shares, being earned under the performance share award.