SECURITIES AND EXCHANGE COMMISSION Washington, D.C.20549 FORM 10-C Report by Issuer of Securities Quoted on NASDAQ Interdealer Quotation System Filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 and Rule 13a-17 or 15d-17 thereunder NATIONAL INCOME REALTY TRUST ................................................................................ (Exact name of issuer as specified in charter) 3878 Oak Lawn Avenue, Suite 300 Dallas, Texas 75219 ................................................................................ (Address of principal executive offices) Issuer's telephone number, including area code (214) 522-9910 I. CHANGE IN NUMBER OF SHARES OUTSTANDING Indicate any change (increase or decrease) of 5% or more in the number of shares outstanding 1. Title of security: Shares of Beneficial Interest, no par value 2. Number of shares outstanding before the change: 3,202,058 3. Number of shares outstanding after the change: 3,522,264 (rounded) 4. Effective date of Change: Record date September 1, 1994 with new shares to be issued September 21, 1994 5. Method of change: Specify method (such as merger, acquisition, exchange, distribution, stock split, reverse split, acquisition of stock for treasury, etc.): 10% Share dividend Give brief description of transaction: Shareholders of record on September 1, 1994 will receive a 10% share dividend, with shares to be issued on September 21, 1994. No fractional shares will be issued. II. CHANGE IN NAME OF ISSUER 1. Name prior to change .................................................... 2. Name after change ....................................................... 3. Effective date of charter amendment changing name ....................... 4. Date of shareholder approval of change, if required ..................... Date August 23, 1994 NATIONAL INCOME REALTY TRUST By /s/ Katie Jackson --------------------------------------- Katie Jackson, Vice President and Chief Accounting Officer