Transcontinental Realty Investors (TCI)

[Enterprising Investor]

The “Abundance of Caution” Schedule 13D filed by Bradford, Clifford and Ryan Phillips (8/01/22)

… individuals and/or their respective entities named below may, in the future, purchase, hold and/or subsequently sell Shares depending upon market circumstances and their collective and individual investment objectives and desires, independent of Shares acquired, held or sold by any other stockholder, including, but not limited to, entities owned or controlled by the May Trust, of which two of the individuals listed below are, in addition to their siblings, beneficiaries. Each of the individuals listed below is an adult son of the late Gene E. Phillips, deceased, one of the settlors of the May Trust and of the Gene E. Phillips Children’s Trust. individuals and/or their respective entities named below may, in the future, purchase, hold and/or subsequently sell Shares depending upon market circumstances and their collective and individual investment objectives and desires, independent of Shares acquired, held or sold by any other stockholder, including, but not limited to, entities owned or controlled by the May Trust, of which two of the individuals listed below are, in addition to their siblings, beneficiaries. Each of the individuals listed below is an adult son of the late Gene E. Phillips, deceased, one of the settlors of the May Trust and of the Gene E. Phillips Children’s Trust.

https://www.sec.gov/Archives/edgar/data/733590/000101054922000187/trisch13d.htm