Form 4: BRT Apartments CEO Gould Acquires Restricted Stock

BRT Apartments Corp. President and CEO, Jeffrey Gould, acquired 13,387 restricted shares under the company's 2024 Incentive Plan.

Summary

• Jeffrey Gould, President and CEO of BRT Apartments Corp., acquired 13,387 shares of common stock.
• These shares were issued as restricted stock on January 9, 2026, under the issuer's 2024 Incentive Plan.
• The shares generally vest on or about January 8, 2031, subject to Mr. Gould's continued relationship with the issuer.
• The transaction price for these restricted shares was $0.
• Following this transaction, Mr. Gould's direct beneficial ownership totals 540,827.526 shares.
• He also holds indirect beneficial ownership through the Gould Shenfeld Family Foundation (25,349.456 shares), Gould Family Trust (0.575 shares), 130 Store Company LLC (31,316.156 shares), and Gould Investors L.P. (4,074,353.3592 shares).
• All indirect holdings include shares acquired through the issuer's dividend reinvestment plan.

Sentiment

Score: 7

Explanation: The acquisition of restricted stock by the CEO, as part of an incentive plan, generally signals management's long-term commitment and alignment with shareholder interests, which is a positive indicator.

Positives

• President and CEO Jeffrey Gould acquired 13,387 restricted shares, aligning his long-term interests with those of shareholders.
• The issuance is part of the company's 2024 Incentive Plan, indicating a structured approach to executive compensation and retention.

Future Outlook

The restricted shares issued to Jeffrey Gould are scheduled to vest on or about January 8, 2031, contingent on his continued relationship with BRT Apartments Corp., indicating a long-term incentive structure and commitment.

Management Comments

• Jeffrey Gould, President and CEO, acquired restricted stock as part of the company's 2024 Incentive Plan.

Industry Context

Insider stock acquisitions, particularly restricted stock grants, are a common practice in the real estate investment trust (REIT) sector to align executive incentives with long-term shareholder value, reflecting standard corporate governance practices.

Comparison to Industry Standards

• The issuance of restricted stock as part of an incentive plan is a standard compensation practice across publicly traded companies, including REITs, to retain key executives and incentivize long-term performance.
• The vesting period until January 2031 is consistent with long-term incentive structures seen in comparable companies, aiming to foster sustained leadership and strategic execution.

Corporate Governance

Related Party Transactions

• Jeffrey Gould holds indirect beneficial ownership through entities such as the Gould Shenfeld Family Foundation, Gould Family Trust, 130 Store Company LLC, and Gould Investors L.P., where he serves in various capacities (director, trustee, manager, officer of managing general partner).
• The reporting person disclaims beneficial ownership of securities held by 130 Store Company LLC and Gould Investors L.P. to the extent he does not have a pecuniary interest therein.

Stakeholder Impact

• Shareholders: Increased alignment of the CEO's long-term interests with shareholder value through the restricted stock vesting schedule.
• Employees: The 2024 Incentive Plan suggests a framework for executive retention and motivation, potentially impacting other key personnel and overall company stability.

Next Steps

• The restricted shares are expected to vest on or about January 8, 2031, subject to the reporting person's continued relationship with the issuer.

Key Dates

Recommendation

This Form 4 details a routine restricted stock grant to the CEO as part of an incentive plan. While it indicates management's long-term alignment, it does not present new fundamental information that would significantly alter the investment thesis for BRT Apartments Corp. Therefore, a 'hold' recommendation is appropriate, pending further financial or strategic updates.

Keywords

BRT Apartments Corp, BRT, Jeffrey Gould, restricted stock, incentive plan, CEO, beneficial ownership, insider transaction