M. Andrew Franklin - 11 Sep 2025 Form 4 Insider Report for Wheeler Real Estate Investment Trust, Inc. (WHLR)

Reporting relationship: CEO
Issuer ticker: WHLR
Reported as of: 11 Sep 2025
Net transaction value: -$5,317
SEC form: 4
Accepted by SEC: 12 Sep 2025, 16:08:32 UTC
Prior SEC filing: 02 Jul 2025
Next SEC filing: 30 Sep 2025
Source filing: View source filing
Reporting owner signature: /s/ M. Andrew Franklin

Key filing fact

M. Andrew Franklin filed Form 4 for Wheeler Real Estate Investment Trust, Inc. (WHLR) on 12 Sep 2025.

Key facts

This page summarizes M. Andrew Franklin's Form 4 filing for Wheeler Real Estate Investment Trust, Inc. (WHLR).
2 reported transactions and 3 derivative rows are listed below.
Accepted by SEC: 12 Sep 2025, 16:08.

Change

Previous filing in this sequence was filed on 02 Jul 2025.
Current net transaction value: -$5,317.

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 (1)

CIK 0001697904 Primary reporting owner

Franklin Michael Andrew

Relationship: CEO
Address: 2529 VIRGINIA BEACH BLVD, VIRGINIA BEACH
Signature: /s/ M. Andrew Franklin
Signature date: 12 Sep 2025

Reported derivative securities

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

WHLR transaction Derivative

7.00% Senior Subordinated Convertible Notes due 2031

Sale

Transaction value: $425
Shares
Change %
Price
Shares after: $26,300
Date: 11 Sep 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 433
Exercise price: $0.9800
Footnotes: F3, F4, F5

WHLR transaction Derivative

Series B Convertible Preferred Stock

Sale

Transaction value: $4,892
Shares: -1,223
Change %: -100%
Price: $4.00
Shares after: 0
Date: 11 Sep 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 0
Exercise price: $40320000.00
Footnotes: F6, F7

WHLR holding Derivative

Series D Cumulative Convertible Preferred Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 555
Date: 11 Sep 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 0
Exercise price: $17095680.00
Footnotes: F1, F2

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 7 footnotes

Footnote F1

Each share of the Issuer's Series D Cumulative Convertible Preferred Stock ("Series D Preferred Stock") is convertible, in whole or in part, at any time, at the option of the holders thereof, into 0.000001 shares of the Issuer's common stock (a conversion price of $17,095,680 per share of common stock).

Footnote F2

Series D Preferred Stock has no expiration date.

Footnote F3

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 the Issuer's common stock at a conversion price of approximately $0.98 per share (approximately 25.47 common shares for each $25.00 of principal amount of the Notes being converted).

Footnote F4

Interest on the Notes may be payable, at the Issuer's election, in cash, in shares of the Issuer's Series B Convertible Preferred Stock ("Series B Preferred Stock") or in shares of Series D Preferred Stock, in each case as set forth in the Notes. The number of shares of the Issuer's common stock indicated in the Table is based on the outstanding principal amount of the Notes held by the Reporting Person.

Footnote F5

The price reported in Column 8 is an aggregate purchase price. These Notes were sold at a price of $150.00 per $25.00 of aggregate principal amount.

Footnote F6

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 0.0000006 shares of the Issuer's common stock (a conversion price of $40,320,000 per share of common stock).

Footnote F7

The Series B Preferred Stock has no expiration date.