On May 6, 2024, Whitestone REIT announced that it has received new information revealing that Erez Asset Management nominee Bruce Schanzer colluded in late 2023 with terminated Whitestone Chairman and CEO James Mastandrea in an attempt to acquire Whitestone. The Company added that in January 2022, the Company Trustees David Taylor and Nandita Berry guided the Board in taking the difficult step of terminating Chairman and CEO, James Mastandrea and had spearheaded an effort, along with the Company?s new management team, to reset the Company on a new trajectory which has been successful since its inception on January 18, 2022, with the Company delivering superior total returns to shareholders under the leadership of CEO David Holeman.The Company stated that an investor pitch presentation that Erez developed in 2023 puts a clear spotlight on the ulterior motives of Bruce Schanzer, who it is revealed ?has had a number of meetings with James Mastandrea? and believed that James Mastandrea ?will be cooperative and supportive of an Erez-led effort to acquire the Company?.

The Company urged shareholders to protect the value of investment and not to vote for Bruce Schanzer or any Erez nominees and vote the WHITE proxy card to support all of the Company nominees.