Filing Details

Accession Number:
0001213900-20-026961
Form Type:
4
Zero Holdings:
No
Publication Time:
2020-09-16 17:11:24
Reporting Period:
2020-09-14
Accepted Time:
2020-09-16 17:11:24
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
1527541 Wheeler Real Estate Investment Trust Inc. WHLR () 4
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1113303 Joseph Stilwell 111 Broadway, 12Th Floor
New York NY 10006
Yes No Yes No
1397076 Stilwell Value Llc 111 Broadway, 12Th Floor
New York NY 10006
Yes No Yes No
1555931 Stilwell Value Partners Vii, L.p. 111 Broadway, 12Th Floor
New York NY 10006
Yes No Yes No
1564452 Stilwell Activist Fund, L.p. 111 Broadway, 12Th Floor
New York NY 10006
Yes No Yes No
1573720 Stilwell Activist Investments, L.p. 111 Broadway, 12Th Floor
New York NY 10006
Yes No Yes No
Reported Non-Derivative Transactions
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Common Stock Acquisiton 2020-09-14 4,500 $2.75 796,662 No 4 P Indirect See footnote
Common Stock Acquisiton 2020-09-14 500 $2.75 107,474 No 4 P Indirect See footnote
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 P Indirect See footnote
No 4 P Indirect See footnote
Reported Non-Derivative Holdings
Sec. Name Remaning Holdings Nature of Ownership Explanation
Common Stock 213,775 Indirect See footnote
Reported Derivative Holdings
Sec. Name Sec. Type Price Date Expiration Date Amount Remaning Holdings Nature of Ownership
Common Stock Series B Convertible Preferred Stock $40.00 5,125 8,200 Indirect
Common Stock Series D Cumulative Convertible Preferred Stock $16.96 29,272 19,859 Indirect
Common Stock Series D Cumulative Convertible Preferred Stock $16.96 7,806 5,296 Indirect
Common Stock Series D Cumulative Convertible Preferred Stock $16.96 63,066 42,786 Indirect
Series B Convertible Preferred Stock Cash-settled Total Return Swap (obligation to buy) $0.00 2022-03-01 21,154 21,154 Indirect
Series D Cumulative Convertible Preferred Stock Cash-settled Total Return Swap (obligation to buy) $0.00 2022-03-01 376,693 376,693 Indirect
Series B Convertible Preferred Stock Cash-settled Total Return Swap (obligation to buy) $0.00 2022-03-01 2,559 2,559 Indirect
Series D Cumulative Convertible Preferred Stock Cash-settled Total Return Swap (obligation to buy) $0.00 2022-03-01 54,306 54,306 Indirect
Series B Convertible Preferred Stock Cash-settled Total Return Swap (obligation to buy) $0.00 2022-03-01 55,929 55,929 Indirect
Series D Cumulative Convertible Preferred Stock Cash-settled Total Return Swap (obligation to buy) $0.00 2022-03-01 22,282 22,282 Indirect
Expiration Date Amount Remaning Holdings Nature of Ownership
5,125 8,200 Indirect
29,272 19,859 Indirect
7,806 5,296 Indirect
63,066 42,786 Indirect
2022-03-01 21,154 21,154 Indirect
2022-03-01 376,693 376,693 Indirect
2022-03-01 2,559 2,559 Indirect
2022-03-01 54,306 54,306 Indirect
2022-03-01 55,929 55,929 Indirect
2022-03-01 22,282 22,282 Indirect
Footnotes
  1. This Form 4 reports that on September 14, 2020, (i) Stilwell Activist Investments, L.P. ("SAI") acquired 4,500 shares of Wheeler Real Estate Investment Trust, Inc.'s (the "Company") common stock at $2.75 USD per share, and (ii) Stilwell Activist Fund, L.P. ("SAF") acquired 500 shares of the Company's common stock at $2.75 USD per share.
  2. These shares are owned directly by 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 shares reported as owned indirectly except to the extent of his pecuniary interest therein.
  3. These shares are owned directly by 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 shares reported as owned indirectly except to the extent of his pecuniary interest therein.
  4. These shares 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 shares reported as owned indirectly except to the extent of his pecuniary interest therein.
  5. As disclosed in the Company's Form 8-K filed with the Securities and Exchange Commission ("SEC") on April 3, 2017, each share of Series B Convertible Preferred Stock (the "Series B Stock") is convertible into 0.625 shares of the Company's common stock. The Series B Stock has no expiration date.
  6. As disclosed in the Company's Form 8-K filed with the SEC on April 3, 2017, each share of Series D Cumulative Convertible Preferred Stock (the "Series D Stock") is convertible into 1.474 shares of the Company's common stock. The Series D Stock has no expiration date.
  7. SAI entered into a certain cash-settled total return swap agreement, effective as of January 22, 2019 (the "Swap Agreement"), pursuant to which it purchased certain cash-settled swaps (the "Swaps") constituting economic exposure to notional shares of Series B Stock and Series D Stock with maturity dates of March 1, 2022. The price of the Swaps for the Series B Stock ranged from $11.10 to $11.12, and the price of the Swaps for the Series D Stock ranged from $13.75 to $15.85. The Swap Agreement provides SAI with economic results that are comparable to the economic results of ownership, but does not provide SAI with the power to vote or direct the voting or dispose of or direct the disposition of the shares of Series B Stock and Series D Stock. Joseph Stilwell disclaims beneficial ownership of all shares underlying the Swap Agreement reported as owned indirectly except to the extent of his pecuniary interest therein.
  8. These Swaps can be settled at any time prior to the expiration date.
  9. SAF entered into a certain cash-settled total return swap agreement, effective as of May 20, 2019 (the "Additional Swap Agreement"), pursuant to which it purchased Swaps constituting economic exposure to notional shares of the Company's Series B Stock and Series D Stock with maturity dates of March 1, 2022. The price of the Swaps for the Series B Stock was $11.10, and the price of the Swaps for the Series D Stock ranged from $14.75 to $15.85. The Additional Swap Agreement provides SAF with economic results that are comparable to the economic results of ownership, but does not provide SAF with the power to vote or direct the voting or dispose of or direct the disposition of the shares of Series B Stock and Series D Stock. Joseph Stilwell disclaims beneficial ownership of all shares underlying the Additional Swap Agreement reported as owned indirectly except to the extent of his pecuniary interest therein.
  10. SVP VII entered into a certain cash-settled total return swap agreement, effective as of May 20, 2019 (the "Second Additional Swap Agreement"), pursuant to which it purchased Swaps constituting economic exposure to notional shares of the Company's Series B Stock and Series D Stock with maturity dates of March 1, 2022. The price of the Swaps for the Series B Stock ranged from $11.73 to $12.88, and the price of the Swaps for the Series D Stock ranged from $14.50 to $15.50. The Second Additional Swap Agreement provides SVP VII with economic results that are comparable to the economic results of ownership, but does not provide SVP VII with the power to vote or direct the voting or dispose of or direct the disposition of the shares of Series B Stock and Series D Stock. Joseph Stilwell disclaims beneficial ownership of all shares underlying the Second Additional Swap Agreement reported as owned indirectly except to the extent of his pecuniary interest therein.