Joseph Stilwell - 30 Sep 2026 Form 4 Insider Report for Wheeler Real Estate Investment Trust, Inc. (WHLR)

Reporting relationship
Director, 10%+ Owner
Issuer ticker
WHLR
Reported as of
30 Sep 2026
Net transaction value
-$15.15
Source evidence Original filing metadata and source links for verification. 4 source fields
SEC form
4
Accepted by SEC
02 Oct 2026, 17:07:04 UTC
Prior SEC filing
25 Sep 2026
Source filing
View source filing
Reporting owner 1 detail
Reporting owner signature
/s/ Joseph Stilwell

Key filing fact

Joseph Stilwell filed Form 4 for Wheeler Real Estate Investment Trust, Inc. (WHLR) on 02 Oct 2026.

Key facts

  • This page summarizes Joseph Stilwell's Form 4 filing for Wheeler Real Estate Investment Trust, Inc. (WHLR).
  • 10 reported transactions and 60 derivative rows are listed below.
  • Accepted by SEC: 02 Oct 2026, 17:07.

Change

  • Previous filing in this sequence was filed on 25 Sep 2026.
  • Current net transaction value: -$15.15.

Research use

  • This tells you what this filing adds before you inspect full transaction and derivative tables.
  • You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (6)

CIK 0001113303 Primary reporting owner

Stilwell Joseph

Relationship
Director, 10%+ Owner
Address
200 CALLE DEL SANTO CRISTO, SAN JUAN
Signature
/s/ Joseph Stilwell
Signature date
02 Oct 2026
CIK 0001397076

Stilwell Value LLC

Relationship
10%+ Owner
Address
111 BROADWAY 12TH FLOOR, NEW YORK
Signature
/s/ Joseph Stilwell as authorized agent for Stilwell Value LLC
Signature date
02 Oct 2026
CIK 0001573720

Stilwell Activist Investments, L.P.

Relationship
10%+ Owner
Address
111 BROADWAY 12TH FLOOR, NEW YORK
Signature
/s/ Joseph Stilwell as authorized agent for Stilwell Activist Investments, L.P.
Signature date
02 Oct 2026
CIK 0001564452

Stilwell Activist Fund, L.P.

Relationship
10%+ Owner
Address
111 BROADWAY 12TH FLOOR, NEW YORK
Signature
/s/ Joseph Stilwell as authorized agent for Stilwell Activist Fund, L.P.
Signature date
02 Oct 2026
CIK 0001555931

Stilwell Value Partners VII, L.P.

Relationship
10%+ Owner
Address
111 BROADWAY 12TH FLOOR, NEW YORK
Signature
/s/ Joseph Stilwell as authorized agent for Stilwell Value Partners VII, L.P.
Signature date
02 Oct 2026
CIK 0000913960

Stilwell Associates, L.P.

Relationship
10%+ Owner
Address
111 BROADWAY, 12TH FLOOR, NEW YORK
Signature
/s/ Joseph Stilwell as authorized agent for Stilwell Associates, L.P.
Signature date
02 Oct 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

WHLR transaction

Common Stock

Award

Transaction value
Shares
+142,015
Change %
+32%
Price
Shares after
584,578
Date
30 Sep 2026
Ownership
See footnote
Footnotes
F1, F5
WHLR transaction

Common Stock

Award

Transaction value
Shares
+142,015
Change %
+32%
Price
Shares after
584,578
Date
30 Sep 2026
Ownership
See footnote
Footnotes
F1, F5
WHLR transaction

Common Stock

Award

Transaction value
Shares
+142,015
Change %
+32%
Price
Shares after
584,578
Date
30 Sep 2026
Ownership
See footnote
Footnotes
F1, F5
WHLR transaction

Common Stock

Award

Transaction value
Shares
+142,015
Change %
+32%
Price
Shares after
584,578
Date
30 Sep 2026
Ownership
See footnote
Footnotes
F1, F5
WHLR transaction

Common Stock

Award

Transaction value
Shares
+142,015
Change %
+32%
Price
Shares after
584,578
Date
30 Sep 2026
Ownership
See footnote
Footnotes
F1, F5
WHLR transaction

Common Stock

Award

Transaction value
Shares
+142,015
Change %
+32%
Price
Shares after
584,578
Date
30 Sep 2026
Ownership
See footnote
Footnotes
F1, F5
WHLR transaction

Common Stock

Sale

Transaction value
$15.15
Shares
-5
Change %
-0%
Price
$3.03
Shares after
584,573
Date
30 Sep 2026
Ownership
See footnote
Footnotes
F1, F6
WHLR transaction

Common Stock

Sale

Transaction value
$15.15
Shares
-5
Change %
-0%
Price
$3.03
Shares after
584,573
Date
30 Sep 2026
Ownership
See footnote
Footnotes
F1, F6
WHLR transaction

Common Stock

Sale

Transaction value
$15.15
Shares
-5
Change %
-0%
Price
$3.03
Shares after
584,573
Date
30 Sep 2026
Ownership
See footnote
Footnotes
F1, F6
WHLR transaction

Common Stock

Sale

Transaction value
$15.15
Shares
-5
Change %
-0%
Price
$3.03
Shares after
584,573
Date
30 Sep 2026
Ownership
See footnote
Footnotes
F1, F6
WHLR transaction

Common Stock

Sale

Transaction value
$15.15
Shares
-5
Change %
-0%
Price
$3.03
Shares after
584,573
Date
30 Sep 2026
Ownership
See footnote
Footnotes
F1, F6
WHLR transaction

Common Stock

Sale

Transaction value
$15.15
Shares
-5
Change %
-0%
Price
$3.03
Shares after
584,573
Date
30 Sep 2026
Ownership
See footnote
Footnotes
F1, F6
WHLR transaction

Common Stock

Award

Transaction value
Shares
+19,685
Change %
+32%
Price
Shares after
80,969
Date
30 Sep 2026
Ownership
See footnote
Footnotes
F2, F7
WHLR transaction

Common Stock

Award

Transaction value
Shares
+19,685
Change %
+32%
Price
Shares after
80,969
Date
30 Sep 2026
Ownership
See footnote
Footnotes
F2, F7
WHLR transaction

Common Stock

Award

Transaction value
Shares
+19,685
Change %
+32%
Price
Shares after
80,969
Date
30 Sep 2026
Ownership
See footnote
Footnotes
F2, F7
WHLR transaction

Common Stock

Award

Transaction value
Shares
+19,685
Change %
+32%
Price
Shares after
80,969
Date
30 Sep 2026
Ownership
See footnote
Footnotes
F2, F7
WHLR transaction

Common Stock

Award

Transaction value
Shares
+19,685
Change %
+32%
Price
Shares after
80,969
Date
30 Sep 2026
Ownership
See footnote
Footnotes
F2, F7
WHLR transaction

Common Stock

Award

Transaction value
Shares
+19,685
Change %
+32%
Price
Shares after
80,969
Date
30 Sep 2026
Ownership
See footnote
Footnotes
F2, F7
WHLR holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
1
Date
30 Sep 2026
Ownership
See footnote
Footnotes
F3
WHLR holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
1
Date
30 Sep 2026
Ownership
See footnote
Footnotes
F3
WHLR holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
1
Date
30 Sep 2026
Ownership
See footnote
Footnotes
F3
WHLR holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
1
Date
30 Sep 2026
Ownership
See footnote
Footnotes
F3
WHLR holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
1
Date
30 Sep 2026
Ownership
See footnote
Footnotes
F3
WHLR holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
1
Date
30 Sep 2026
Ownership
See footnote
Footnotes
F3
WHLR holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
62,829
Date
30 Sep 2026
Ownership
See footnote
Footnotes
F4
WHLR holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
62,829
Date
30 Sep 2026
Ownership
See footnote
Footnotes
F4
WHLR holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
62,829
Date
30 Sep 2026
Ownership
See footnote
Footnotes
F4
WHLR holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
62,829
Date
30 Sep 2026
Ownership
See footnote
Footnotes
F4
WHLR holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
62,829
Date
30 Sep 2026
Ownership
See footnote
Footnotes
F4
WHLR holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
62,829
Date
30 Sep 2026
Ownership
See footnote
Footnotes
F4

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

WHLR transaction Derivative

7.00% Subordinated Convertible Notes due 2031

Purchase

Transaction value
Shares
Change %
Price
Shares after
$17,537,625
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
78,128
Exercise price
$4.85
Footnotes
F1, F8, F9, F10
WHLR transaction Derivative

7.00% Subordinated Convertible Notes due 2031

Purchase

Transaction value
Shares
Change %
Price
Shares after
$17,537,625
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
78,128
Exercise price
$4.85
Footnotes
F1, F8, F9, F10
WHLR transaction Derivative

7.00% Subordinated Convertible Notes due 2031

Purchase

Transaction value
Shares
Change %
Price
Shares after
$17,537,625
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
78,128
Exercise price
$4.85
Footnotes
F1, F8, F9, F10
WHLR transaction Derivative

7.00% Subordinated Convertible Notes due 2031

Purchase

Transaction value
Shares
Change %
Price
Shares after
$17,537,625
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
78,128
Exercise price
$4.85
Footnotes
F1, F8, F9, F10
WHLR transaction Derivative

7.00% Subordinated Convertible Notes due 2031

Purchase

Transaction value
Shares
Change %
Price
Shares after
$17,537,625
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
78,128
Exercise price
$4.85
Footnotes
F1, F8, F9, F10
WHLR transaction Derivative

7.00% Subordinated Convertible Notes due 2031

Purchase

Transaction value
Shares
Change %
Price
Shares after
$17,537,625
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
78,128
Exercise price
$4.85
Footnotes
F1, F8, F9, F10
WHLR transaction Derivative

7.00% Subordinated Convertible Notes due 2031

Sale

Transaction value
Shares
Change %
Price
Shares after
$0
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
165,424
Exercise price
$4.85
Footnotes
F3, F8, F9, F11
WHLR transaction Derivative

7.00% Subordinated Convertible Notes due 2031

Sale

Transaction value
Shares
Change %
Price
Shares after
$0
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
165,424
Exercise price
$4.85
Footnotes
F3, F8, F9, F11
WHLR transaction Derivative

7.00% Subordinated Convertible Notes due 2031

Sale

Transaction value
Shares
Change %
Price
Shares after
$0
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
165,424
Exercise price
$4.85
Footnotes
F3, F8, F9, F11
WHLR transaction Derivative

7.00% Subordinated Convertible Notes due 2031

Sale

Transaction value
Shares
Change %
Price
Shares after
$0
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
165,424
Exercise price
$4.85
Footnotes
F3, F8, F9, F11
WHLR transaction Derivative

7.00% Subordinated Convertible Notes due 2031

Sale

Transaction value
Shares
Change %
Price
Shares after
$0
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
165,424
Exercise price
$4.85
Footnotes
F3, F8, F9, F11
WHLR transaction Derivative

7.00% Subordinated Convertible Notes due 2031

Sale

Transaction value
Shares
Change %
Price
Shares after
$0
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
165,424
Exercise price
$4.85
Footnotes
F3, F8, F9, F11
WHLR transaction Derivative

7.00% Subordinated Convertible Notes due 2031

Purchase

Transaction value
Shares
Change %
Price
Shares after
$1,250,000
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
14,985
Exercise price
$4.85
Footnotes
F4, F8, F9, F12
WHLR transaction Derivative

7.00% Subordinated Convertible Notes due 2031

Purchase

Transaction value
Shares
Change %
Price
Shares after
$1,250,000
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
14,985
Exercise price
$4.85
Footnotes
F4, F8, F9, F12
WHLR transaction Derivative

7.00% Subordinated Convertible Notes due 2031

Purchase

Transaction value
Shares
Change %
Price
Shares after
$1,250,000
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
14,985
Exercise price
$4.85
Footnotes
F4, F8, F9, F12
WHLR transaction Derivative

7.00% Subordinated Convertible Notes due 2031

Purchase

Transaction value
Shares
Change %
Price
Shares after
$1,250,000
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
14,985
Exercise price
$4.85
Footnotes
F4, F8, F9, F12
WHLR transaction Derivative

7.00% Subordinated Convertible Notes due 2031

Purchase

Transaction value
Shares
Change %
Price
Shares after
$1,250,000
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
14,985
Exercise price
$4.85
Footnotes
F4, F8, F9, F12
WHLR transaction Derivative

7.00% Subordinated Convertible Notes due 2031

Purchase

Transaction value
Shares
Change %
Price
Shares after
$1,250,000
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
14,985
Exercise price
$4.85
Footnotes
F4, F8, F9, F12
WHLR transaction Derivative

Series D Cumulative Convertible Preferred Stock

Disposed to Issuer

Transaction value
Shares
-6,801
Change %
-5.3%
Price
Shares after
121,302
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F1, F13, F14
WHLR transaction Derivative

Series D Cumulative Convertible Preferred Stock

Disposed to Issuer

Transaction value
Shares
-6,801
Change %
-5.3%
Price
Shares after
121,302
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F1, F13, F14
WHLR transaction Derivative

Series D Cumulative Convertible Preferred Stock

Disposed to Issuer

Transaction value
Shares
-6,801
Change %
-5.3%
Price
Shares after
121,302
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F1, F13, F14
WHLR transaction Derivative

Series D Cumulative Convertible Preferred Stock

Disposed to Issuer

Transaction value
Shares
-6,801
Change %
-5.3%
Price
Shares after
121,302
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F1, F13, F14
WHLR transaction Derivative

Series D Cumulative Convertible Preferred Stock

Disposed to Issuer

Transaction value
Shares
-6,801
Change %
-5.3%
Price
Shares after
121,302
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F1, F13, F14
WHLR transaction Derivative

Series D Cumulative Convertible Preferred Stock

Disposed to Issuer

Transaction value
Shares
-6,801
Change %
-5.3%
Price
Shares after
121,302
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F1, F13, F14
WHLR transaction Derivative

Series D Cumulative Convertible Preferred Stock

Disposed to Issuer

Transaction value
Shares
-899
Change %
-4.8%
Price
Shares after
17,688
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F2, F13, F15
WHLR transaction Derivative

Series D Cumulative Convertible Preferred Stock

Disposed to Issuer

Transaction value
Shares
-899
Change %
-4.8%
Price
Shares after
17,688
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F2, F13, F15
WHLR transaction Derivative

Series D Cumulative Convertible Preferred Stock

Disposed to Issuer

Transaction value
Shares
-899
Change %
-4.8%
Price
Shares after
17,688
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F2, F13, F15
WHLR transaction Derivative

Series D Cumulative Convertible Preferred Stock

Disposed to Issuer

Transaction value
Shares
-899
Change %
-4.8%
Price
Shares after
17,688
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F2, F13, F15
WHLR transaction Derivative

Series D Cumulative Convertible Preferred Stock

Disposed to Issuer

Transaction value
Shares
-899
Change %
-4.8%
Price
Shares after
17,688
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F2, F13, F15
WHLR transaction Derivative

Series D Cumulative Convertible Preferred Stock

Disposed to Issuer

Transaction value
Shares
-899
Change %
-4.8%
Price
Shares after
17,688
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F2, F13, F15
WHLR transaction Derivative

Series B Preferred Stock

Disposed to Issuer

Transaction value
Shares
-26,897
Change %
-5.4%
Price
Shares after
469,288
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F1, F16, F17
WHLR transaction Derivative

Series B Preferred Stock

Disposed to Issuer

Transaction value
Shares
-26,897
Change %
-5.4%
Price
Shares after
469,288
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F1, F16, F17
WHLR transaction Derivative

Series B Preferred Stock

Disposed to Issuer

Transaction value
Shares
-26,897
Change %
-5.4%
Price
Shares after
469,288
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F1, F16, F17
WHLR transaction Derivative

Series B Preferred Stock

Disposed to Issuer

Transaction value
Shares
-26,897
Change %
-5.4%
Price
Shares after
469,288
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F1, F16, F17
WHLR transaction Derivative

Series B Preferred Stock

Disposed to Issuer

Transaction value
Shares
-26,897
Change %
-5.4%
Price
Shares after
469,288
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F1, F16, F17
WHLR transaction Derivative

Series B Preferred Stock

Disposed to Issuer

Transaction value
Shares
-26,897
Change %
-5.4%
Price
Shares after
469,288
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F1, F16, F17
WHLR transaction Derivative

Series B Preferred Stock

Disposed to Issuer

Transaction value
Shares
-3,903
Change %
-6%
Price
Shares after
61,693
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F2, F16, F18
WHLR transaction Derivative

Series B Preferred Stock

Disposed to Issuer

Transaction value
Shares
-3,903
Change %
-6%
Price
Shares after
61,693
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F2, F16, F18
WHLR transaction Derivative

Series B Preferred Stock

Disposed to Issuer

Transaction value
Shares
-3,903
Change %
-6%
Price
Shares after
61,693
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F2, F16, F18
WHLR transaction Derivative

Series B Preferred Stock

Disposed to Issuer

Transaction value
Shares
-3,903
Change %
-6%
Price
Shares after
61,693
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F2, F16, F18
WHLR transaction Derivative

Series B Preferred Stock

Disposed to Issuer

Transaction value
Shares
-3,903
Change %
-6%
Price
Shares after
61,693
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F2, F16, F18
WHLR transaction Derivative

Series B Preferred Stock

Disposed to Issuer

Transaction value
Shares
-3,903
Change %
-6%
Price
Shares after
61,693
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F2, F16, F18
WHLR holding Derivative

7.00% Subordinated Convertible Notes due 2031

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
$2,504,950
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
516,859
Exercise price
$4.85
Footnotes
F2, F8, F9
WHLR holding Derivative

7.00% Subordinated Convertible Notes due 2031

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
$2,504,950
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
516,859
Exercise price
$4.85
Footnotes
F2, F8, F9
WHLR holding Derivative

7.00% Subordinated Convertible Notes due 2031

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
$2,504,950
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
516,859
Exercise price
$4.85
Footnotes
F2, F8, F9
WHLR holding Derivative

7.00% Subordinated Convertible Notes due 2031

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
$2,504,950
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
516,859
Exercise price
$4.85
Footnotes
F2, F8, F9
WHLR holding Derivative

7.00% Subordinated Convertible Notes due 2031

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
$2,504,950
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
516,859
Exercise price
$4.85
Footnotes
F2, F8, F9
WHLR holding Derivative

7.00% Subordinated Convertible Notes due 2031

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
$2,504,950
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
516,859
Exercise price
$4.85
Footnotes
F2, F8, F9
WHLR holding Derivative

Series D Cumulative Convertible Preferred Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
21,148
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F3, F13
WHLR holding Derivative

Series D Cumulative Convertible Preferred Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
21,148
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F3, F13
WHLR holding Derivative

Series D Cumulative Convertible Preferred Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
21,148
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F3, F13
WHLR holding Derivative

Series D Cumulative Convertible Preferred Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
21,148
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F3, F13
WHLR holding Derivative

Series D Cumulative Convertible Preferred Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
21,148
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F3, F13
WHLR holding Derivative

Series D Cumulative Convertible Preferred Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
21,148
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F3, F13
WHLR holding Derivative

Series B Preferred Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
90,565
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F3, F16
WHLR holding Derivative

Series B Preferred Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
90,565
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F3, F16
WHLR holding Derivative

Series B Preferred Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
90,565
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F3, F16
WHLR holding Derivative

Series B Preferred Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
90,565
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F3, F16
WHLR holding Derivative

Series B Preferred Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
90,565
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F3, F16
WHLR holding Derivative

Series B Preferred Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
90,565
Date
30 Sep 2026
Ownership
See footnote
Underlying class
Common Stock
Underlying amount
0
Exercise price
Footnotes
F3, F16
* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 18 footnotes

Footnote F1

These securities are owned directly by Stilwell Activist Investments, L.P. ("SAI") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Stilwell Value LLC ("Value"), which is the general partner of SAI. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein.

Footnote F2

These securities are owned directly by Stilwell Activist Fund, L.P. ("SAF") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SAF. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein.

Footnote F3

These securities are owned directly by Stilwell Value Partners VII, L.P. ("SVP VII") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SVP VII. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein.

Footnote F4

These securities are owned directly by Stilwell Associates, L.P. ("SA") and indirectly by Joseph Stilwell in his capacity as the managing member and owner of Value, which is the general partner of SA. Joseph Stilwell disclaims beneficial ownership of all securities reported as owned indirectly except to the extent of his pecuniary interest therein.

Footnote F5

On September 30, 2026, the Issuer agreed to issue to SAI 142,015 shares of the Issuer's common stock ("Common Stock") in exchange for 26,897 shares of the Issuer's Series B Preferred Stock ("Series B Preferred Stock") and 6,801 shares of the Issuer's Series D Cumulative Convertible Preferred Stock ("Series D Preferred Stock") held by SAI (the "Third SAI Exchange"). The Issuer did not receive any cash proceeds in the Third SAI Exchange.

Footnote F6

This Form 4 reports the sale by SAI on September 30, 2026 of 5 shares of Common Stock at $3.03 per share.

Footnote F7

On September 30, 2026, the Issuer agreed to issue to SAF 19,685 shares of Common Stock in exchange for 3,903 shares of Series B Preferred Stock and 899 shares of Series D Preferred Stock held by SAF (the "Third SAF Exchange"). The Issuer did not receive any cash proceeds in the Third SAF Exchange.

Footnote F8

The Issuer's 7.00% Subordinated Convertible Notes due 2031 (the "Notes") are convertible, in whole or in part, at any time, at the option of the holders thereof, into shares of Common Stock at a conversion price of $4.84648 per share (5.158382 common shares for each $25.00 of principal amount of the Notes being converted).

Footnote F9

Interest on the Notes may be payable, at the Issuer's election, in cash, in shares of Series B Preferred Stock or in shares of Series D Preferred Stock, in each case as set forth in the Notes.

Footnote F10

The price reported in Column 8 is an aggregate purchase price. These Notes were purchased at a price of $85.00 per $25.00 of aggregate principal amount.

Footnote F11

The price reported in Column 8 is an aggregate purchase price. These Notes were sold at a price of $85.00 per $25.00 of aggregate principal amount.

Footnote F12

The price reported in Column 8 is an aggregate purchase price. These Notes were purchased at a price of $85.00 per $25.00 of aggregate principal amount.

Footnote F13

Each share of Series D Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.00000000002 shares of Common Stock (a conversion price of $1,107,800,064,000 per share of Common Stock). Series D Preferred Stock has no expiration date.

Footnote F14

The preferred stock disposition was pursuant to the Third SAI Exchange.

Footnote F15

The preferred stock disposition was pursuant to the Third SAF Exchange.

Footnote F16

Each share of Series B Preferred Stock is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000000000001 shares of Common Stock (a conversion price of $2,612,736,000,000 per share of Common Stock). Series B Preferred Stock has no expiration date.

Footnote F17

The preferred stock disposition was pursuant to the Third SAI Exchange.

Footnote F18

The preferred stock disposition was pursuant to the Third SAF Exchange.

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