Whitestone REIT (WSR) major holder lowers beneficial stake to 8.1%

Rhea-AI Filing Summary

Whitestone REIT’s investor group led by MCB PR Capital LLC filed Amendment No. 4 to its Schedule 13D reporting a sale of common shares that reduced its beneficial ownership to 4,175,005.19 shares, or 8.1% of the outstanding common shares.

The 4,175,005.19 shares are directly owned by MCB PR Capital LLC, with shared voting and dispositive power reported for MCB PR Capital LLC, MCB Acquisitions Manager LLC, and P. David Bramble. Each reports zero sole voting or dispositive power, and the ownership percentage is calculated using Whitestone’s Form 10-K share count as of December 31, 2025.

Insights

Governance and ownership structure analyst

Large Whitestone REIT holder slightly trims stake but remains an 8.1% shareholder.

The amendment shows the MCB PR Capital LLC group disposed of Whitestone REIT common shares, triggering a decrease in beneficial ownership of more than 1% of the outstanding class. After the sale, the group still reports 4,175,005.19 shares, or 8.1% of the company.

Control of this position runs through MCB PR Capital LLC, its manager MCB Acquisitions Manager LLC, and ultimately P. David Bramble as sole member of the manager. All report only shared, not sole, voting and dispositive power, indicating coordinated control over this sizable ownership block.

The filing references Whitestone’s Form 10-K for the year ended December 31, 2025 to compute the 8.1% stake. Future ownership changes by this group, if material, would be expected to appear in additional Schedule 13D amendments or other beneficial ownership reports.

Key Figures

Beneficial ownership: 4,175,005.19 shares Ownership percentage: 8.1% Shared voting power: 4,175,005.19 shares +2 more

5 metrics

Beneficial ownership 4,175,005.19 shares Common Shares of Beneficial Interest currently reported by each reporting person

Ownership percentage 8.1% Percent of Whitestone REIT common shares represented by 4,175,005.19 shares

Shared voting power 4,175,005.19 shares Shares over which each reporting person has shared voting power

Sole voting power 0.00 shares Shares over which each reporting person has sole voting power

Event date 04/09/2026 Date of event requiring the Schedule 13D/A Amendment No. 4 filing

Key Terms

beneficially own, shared voting power, shared dispositive power, Schedule 13D, +1 more

5 terms

beneficially own financial

"may therefore be deemed to indirectly beneficially own the shares of the Issuer"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

shared voting power financial

"Number of Shares Beneficially Owned by Each Reporting Person With: | 8 | Shared Voting Power 4,175,005.19"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

shared dispositive power financial

"| 10 | Shared Dispositive Power 4,175,005.19"

Schedule 13D regulatory

"This statement constitutes Amendment No. 4 to the relating to the common shares"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

real estate investment trust financial

"Whitestone REIT, a Maryland real estate investment trust (the "Issuer")"

A real estate investment trust (REIT) is a company that owns and manages income-producing properties—like apartment buildings, shopping centers, offices, or warehouses—and is required to pass most of its rental income to shareholders as dividends. Think of it as a shared property owner: instead of buying a whole building, investors buy a slice of a portfolio that pays regular income and can offer exposure to property values and rental markets without direct management. REITs matter to investors for predictable income, diversification, and liquidity compared with owning physical real estate.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 4)

WHITESTONE REIT

(Name of Issuer)

Common Shares of Beneficial Interest, $0.001 par value per share

(Title of Class of Securities)

966084204

(CUSIP Number)

P. David Bramble
2002 Clipper Park Rd. Suite 105,
Baltimore, MD, 21211
(410) 340-1665

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

04/09/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 966084204

1

Name of reporting person

MCB PR Capital LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 4,175,005.19
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 4,175,005.19

11

Aggregate amount beneficially owned by each reporting person

4,175,005.19

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

8.1 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Each of rows 8, 10 and 11 represents 4,175,005.193 shares, all of which are directly owned by MCB PR Capital LLC, a Delaware limited liability company ("MCB"). MCB Acquisitions Manager LLC, a Maryland limited liability company ("Acquisitions") is the sole Manager of MCB and has the sole right to make any and all decisions and take any and all actions on behalf of MCB and may therefore be deemed to indirectly beneficially own the shares of the Issuer directly owned by MCB. P. David Bramble is the sole member of Acquisitions with full control of Acquisitions and may therefore be deemed to indirectly beneficially own the shares of the Issuer directly owned by MCB.

SCHEDULE 13D

CUSIP Number(s): 966084204

1

Name of reporting person

MCB Acquisitions Manager LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

MARYLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 4,175,005.19
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 4,175,005.19

11

Aggregate amount beneficially owned by each reporting person

4,175,005.19

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

8.1 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Each of rows 8, 10 and 11 represents 4,175,005.193 shares, all of which are directly owned by MCB. Acquisitions is the sole Manager of MCB and has the sole right to make any and all decisions and take any and all actions on behalf of MCB and may therefore be deemed to indirectly beneficially own the shares of the Issuer directly owned by MCB. P. David Bramble is the sole member of Acquisitions with full control of Acquisitions and may therefore be deemed to indirectly beneficially own the shares of the Issuer directly owned by MCB.

SCHEDULE 13D

CUSIP Number(s): 966084204

1

Name of reporting person

P. David Bramble

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 4,175,005.19
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 4,175,005.19

11

Aggregate amount beneficially owned by each reporting person

4,175,005.19

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

8.1 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

Each of rows 8, 10 and 11 represents 4,175,005.193 shares, all of which are directly owned by MCB. Acquisitions is the sole Manager of MCB and has the sole right to make any and all decisions and take any and all actions on behalf of MCB and may therefore be deemed to indirectly beneficially own the shares of the Issuer directly owned by MCB. P. David Bramble is the sole member of Acquisitions with full control of Acquisitions and may therefore be deemed to indirectly beneficially own the shares of the Issuer directly owned by MCB.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Shares of Beneficial Interest, $0.001 par value per share
(b)	Name of Issuer: WHITESTONE REIT
(c)	Address of Issuer's Principal Executive Offices: 2600 SOUTH GESSNER, SUITE 500, HOUSTON, TEXAS , 77063.
Item 1 Comment: This statement constitutes Amendment No. 4 to the Schedule 13D relating to the common shares of beneficial interest, $0.001 par value per share (the "Common Shares"), of Whitestone REIT, a Maryland real estate investment trust (the "Issuer"), and hereby amends the Schedule 13D filed with the Securities and Exchange Commission (the "SEC") on June 3, 2024 (the "Initial Schedule 13D"), as amended by Amendment No. 1 filed with the SEC on October 9, 2024 ("Amendment No. 1"), Amendment No. 2 filed with the SEC on November 18, 2024 ("Amendment No. 2"), and Amendment No. 3 filed with the SEC on November 4, 2025 ("Amendment No. 3" and, together with the Initial Schedule 13D, Amendment No. 1, and Amendment No. 2, the "Schedule 13D"). Except as specifically amended and supplemented by this Amendment No. 4, the Schedule 13D remains in full force and effect. This Amendment No. 4 is being filed to report that the beneficial ownership of Common Shares by the Reporting Person has decreased by more than 1% as a result of the sale reported in Item 5.
Item 4.	Purpose of Transaction
	Item 4 of the Schedule 13D is hereby amended to add the following: The Reporting Persons are filing this Amendment No. 4 to report the disposition of Common Shares of the Issuer, which has reduced the number of Common Shares that the Reporting Persons may be deemed to beneficially own by more than 1% of the outstanding Common Shares of the Issuer.
Item 5.	Interest in Securities of the Issuer
(a)	The information required for each Reporting Person by Item 5 (a) - (b) is set forth in Rows 7 - 13 on pages 1, 2 and 3 of this Amendment No. 4 and is incorporated herein by reference, respectively, for each Reporting Person. The information with respect to the percentage of the outstanding Common Shares of the Issuer beneficially owned by each Reporting Person is calculated based on the last reported outstanding share information for the Issuer from its Annual Report on Form 10-K for the year ended December 31, 2025.
(c)	The transactions in the Common Shares by each Reporting Person during the past sixty days are set forth in Schedule A and are incorporated herein by reference.
Item 7.	Material to be Filed as Exhibits.
	Item 7 of the Schedule 13D is hereby amended to add the following: Exhibit A Schedule of Transactions

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

MCB PR Capital LLC

Signature:	/s/ P. David Bramble
Name/Title:	P. David Bramble, On behalf of MCB Acquisitions Manager LLC, as its sole member, on behalf of MCB PR Capital LLC, as its sole manager
Date:	04/13/2026

MCB Acquisitions Manager LLC

Signature:	/s/ P. David Bramble
Name/Title:	P. David Bramble, On behalf of MCB Acquisitions Manager LLC, as the sole member of MCB Acquisitions Manager LLC
Date:	04/13/2026

P. David Bramble

Signature:	/s/ P. David Bramble
Name/Title:	P. David Bramble, Individually
Date:	04/13/2026

FAQ

What does the new Schedule 13D/A Amendment No. 4 mean for Whitestone REIT (WSR)?

The amendment reports that a major holder slightly reduced its Whitestone REIT stake. MCB PR Capital LLC and affiliated entities now report beneficial ownership of 4,175,005.19 common shares, equal to 8.1% of the outstanding class, following sales that decreased their position by more than 1%.

How many Whitestone REIT (WSR) shares does the MCB PR Capital LLC group now beneficially own?

The MCB PR Capital LLC group reports beneficial ownership of 4,175,005.19 Whitestone REIT common shares. These shares are directly owned by MCB PR Capital LLC, while related entities MCB Acquisitions Manager LLC and P. David Bramble are deemed to indirectly beneficially own the same block through their control relationships.

What percentage of Whitestone REIT (WSR) is owned by the MCB PR Capital LLC reporting group?

The reporting group states that it beneficially owns 8.1% of Whitestone REIT’s outstanding common shares. This percentage is calculated using the last reported share count from Whitestone REIT’s Form 10-K for the year ended December 31, 2025, as referenced in the ownership disclosure.

Who is P. David Bramble in relation to the Whitestone REIT (WSR) stake disclosed in the filing?

P. David Bramble is the sole member of MCB Acquisitions Manager LLC, which is the sole manager of MCB PR Capital LLC. Through these roles, he may be deemed to indirectly beneficially own the 4,175,005.19 Whitestone REIT shares directly held by MCB PR Capital LLC.

Why did the Whitestone REIT (WSR) reporting group file Amendment No. 4 to its Schedule 13D?

Amendment No. 4 was filed to report a disposition of Whitestone REIT common shares. The sale reduced the number of shares the reporting persons may be deemed to beneficially own by more than 1% of the issuer’s outstanding common shares, triggering the updated Schedule 13D disclosure requirement.

How is voting power over Whitestone REIT (WSR) shares structured for the MCB reporting group?

The filing shows zero sole voting or dispositive power and 4,175,005.19 shares of shared voting and dispositive power. MCB PR Capital LLC directly owns the shares, while MCB Acquisitions Manager LLC and P. David Bramble share authority through their managerial and control roles over MCB PR Capital LLC.