Form 4: BRT Apartments VP Acquires 9,000 Restricted Shares

BRT Apartments Corp. VP and Treasurer Isaac Kalish acquired 9,000 restricted common shares as part of the company's 2024 Incentive Plan.

Summary

• Isaac Kalish, VP and Treasurer of BRT Apartments Corp. (BRT), acquired 9,000 shares of common stock.
• These shares were issued as restricted stock on January 9, 2026, under the issuer's 2024 Incentive Plan.
• The restricted shares were acquired at a price of $0 per share.
• The shares are generally expected to vest on or about January 8, 2031, subject to Kalish's continued relationship with the issuer.
• Following this transaction, Kalish's direct beneficial ownership is 150,347.491 shares.
• Kalish also holds significant indirect beneficial ownership through various trusts: 41,194 shares via Gould Investors L.P. pension trust, 250,566 shares via REIT Management Corp. pension and profit sharing trusts, and 20,874 shares via BRT Apartments Corp. Pension Trust.
• Additionally, Kalish holds 151.453 shares as custodian for a child, but disclaims any beneficial interest in these shares.

Sentiment

Score: 6

Explanation: The filing reports a routine grant of restricted stock to a company executive, which is a standard compensation practice designed to align management interests with long-term shareholder value. It does not contain information that would significantly alter the company's financial outlook or operational status.

Positives

• The issuance of restricted stock to a key executive aligns management's long-term interests with those of shareholders.
• The transaction indicates the active implementation of the company's 2024 Incentive Plan, demonstrating a structured approach to executive compensation.

Future Outlook

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

Industry Context

Granting restricted stock to executives is a common practice in corporate compensation across various industries, including real estate investment trusts (REITs). This strategy aims to incentivize long-term performance and retention by aligning executive interests with shareholder value creation.

Comparison to Industry Standards

• This filing reports a standard executive compensation event (restricted stock grant). Restricted stock is a widely used incentive mechanism across industries, including real estate investment trusts (REITs) like BRT Apartments Corp. Without specific details on the size of the grant relative to Kalish's overall compensation or peer company grants, a detailed comparison is not possible.

Corporate Governance

Related Party Transactions

• Isaac Kalish is a trustee of Gould Investors L.P. Pension Trust, which beneficially owns 41,194 shares of common stock.
• Isaac Kalish is a trustee of REIT Management Corp. Pension Plan and REIT Management Corp. 401(k) Tax Deferred Savings Plan Profit Sharing Trust, which in aggregate beneficially own 250,566 shares of common stock.
• Isaac Kalish is a trustee of BRT Apartments Corp. Pension Trust, which beneficially owns 20,874 shares of common stock.
• Isaac Kalish holds 151.453 shares as custodian for a child pursuant to UGMA, but disclaims any beneficial interest in these shares.

Stakeholder Impact

• Shareholders: The grant of restricted stock aims to align the interests of a key executive with long-term shareholder value, potentially fostering more stable and growth-oriented management decisions.
• Employees: The existence and utilization of the 2024 Incentive Plan demonstrate a structured approach to executive compensation, which can influence overall employee morale and retention strategies.

Next Steps

• The 9,000 restricted shares are expected to vest on or about January 8, 2031, subject to the reporting person's continued employment with the issuer.

Key Dates

Keywords

BRT Apartments Corp, Isaac Kalish, Restricted Stock, Executive Compensation, Insider Transaction, Form 4, Corporate Governance