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Company Executives

$ Management Team

Directors
5
serving now
Independent
3 of 3
stated in the proxy; 2 not stated
Average tenure
7.6 years
from year joined
CEO also chairs the board
No
Chad Christensen
Director Age On board Independent Committees Other public boards Pay Source
Daniel Shaeffer
55 2016
10 years
Not stated None stated None stated Paid as CEO
Chad Christensen
53 2016
10 years
Not stated None stated None stated Not stated
Jonathan Gardner
49 2021
5 years
Independent None stated None stated $170,000
John Lunt
53 2018
8 years
Independent None stated None stated $175,000
Philip White
52 2021
5 years
Independent None stated None stated $170,000

Each director opens the passage of the proxy that names them. "Not stated" means the proxy does not say; it never means "no". Pay is the proxy's Director Compensation table; the CEO is paid as an executive.

our advisor
our advisor
$12.5 million and $6.1 million
year ended December 31, 2024 and six months ended June 30, 2025

Monthly management fee paid to our advisor based on gross asset value of CROP.

Special Limited Partner
an affiliate of our advisor
Amount not stated
year ended December 31, 2024 and six months ended June 30, 2025

Performance Allocation (12.5% promotional interest); none earned in the periods.

With CROP Open in proxy
Cottonwood Communities Advisors, LLC (CCA)
$13.0 million

Promissory note issued by CCA to CROP (CCA Note), 7% interest, 10-year term.

With CROP Open in proxy
certain of our officers and directors
own an interest in Richmond Borrower and High Traverse Development, LLC
13.91%
as of June 30, 2025

We assumed a 50% payment guarantee on a construction loan for Richmond at Millcreek, a project in which officers and directors hold interests.

With Villas at Millcreek, LLC Open in proxy
APT Cowork, LLC
entity in which our officers and directors have ownership interests
Approximately $14,000 and $12,000
year ended December 31, 2024 and six months ended June 30, 2025

Reimbursement and Cost Sharing Agreement under which APT reimburses us for employee costs.

With Cottonwood Capital Management, Inc. Open in proxy
APT Cowork, LLC
entity in which our officers and directors have ownership interests
$451,964 and $55,000
year ended December 31, 2024 and six months ended June 30, 2025

Coworking Space Design Agreement; fees paid to APT for design and project management.

With Landlord (a CROP subsidiary) Open in proxy
APT Cowork, LLC
entity in which our officers and directors have ownership interests
$338,512
year ended December 31, 2024

Services Agreement; Services Fees paid to APT for coworking administration.

With Cottonwood Capital Management Open in proxy
Affiliated Members (Brickyard QOF, LLC and HV Millcreek, LLC)
owned directly or indirectly by our officers and directors
$10.9 million
as of June 30, 2025

Investment in Block C development joint venture; Affiliated Members hold a 17.6% interest.

With Block C Open in proxy
CCA
Up to $400,000

Approved negotiation of office lease at the Westerly development project; tenant improvements allocated between us and CCA.

With us Open in proxy
Daniel Shaeffer
Chief Executive Officer and an affiliated director
$8,707 and $6,370
year ended December 31, 2024 and six months ended June 30, 2025

Reimbursement of Mr. Shaeffer's expenses for transportation provided for himself and other officers on approved business travel.

Christensen Marital Trust
trust established by the father of Chad Christensen, one of our directors
241,476 CROP Units
2024

Exchange of CROP Units into Class I common stock, later redeemed under share repurchase program.

With us Open in proxy
our officers and directors
own a 15.4787% interest in the Cottonwood Highland joint venture
$1.2 million
2024

Protective advance to joint venture; promissory note increased to $1.2 million.

With Cottonwood Highland joint venture Open in proxy
Daniel Shaeffer
executive officer
$448,291
2024

CROP assumed notes with debt and accrued interest held for Mr. Shaeffer's benefit in the Cottonwood Lighthouse Point acquisition.

With an affiliate of the seller of the tenant-in-common interests Open in proxy
CCA
Amount not stated
effective January 1, 2022

Assignment of office lease rights and obligations for principal offices from CCA to Cottonwood Capital Management.

With Cottonwood Capital Management Open in proxy
our executive officers
executive officers
$3.0 million

Intended aggregate investment in us in connection with the proposed RealSource merger, split between Class I common stock and Series A convertible preferred stock.

With us Open in proxy

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