Note 15 – Subsequent Events

In October 2026, the Company redeemed $70,479 in U.S. Treasury securities and purchased $68,136 in new U.S. Treasury securities.

In October 2026, the Company closed on a $135,000 non-recourse, five-year loan secured by West County Center, which bears a fixed interest rate of 7.39%. Proceeds from the new loan were used to retire the previous loan. Under the previous loan, cash flows were swept by the lender.

In October 2026, the loan secured by Volusia Mall was modified and extends the maturity date through January 2027.

In October 2026, the Company announced a cash dividend of $0.625 per common share for the fourth quarter ending December 31, 2026.

In November 2026, the Company's board of directors authorized the repurchase of up to $25,000 of the Company's common stock. The authorized share repurchase program has an expiration date of December 31, 2027 and replaces the existing program authorized in November 2025.

In November 2026, the Company sold Old Hickory Mall for $5,500.