Form 4: David Hekemian Reports Changes in Beneficial Ownership of First Real Estate Investment Trust of New Jersey Shares

Director David Hekemian reports acquisition and disposal of First Real Estate Investment Trust of New Jersey shares, along with indirect ownership through partnerships, trusts, and a foundation.

Summary

• On February 20, 2025, David Hekemian, a director of First Real Estate Investment Trust of New Jersey (FREVS), reported changes in his beneficial ownership of the company's common stock.
• He acquired 1,193 shares of common stock at $0, awarded under the company's Equity Incentive Plan.
• He disposed of 216,052 shares of common stock.
• Following these transactions, Hekemian directly owns 0 shares.
• Hekemian also has indirect ownership through various entities, including partnerships, LLCs, trusts, and a foundation, totaling 273,416 shares.
• He disclaims beneficial ownership of shares held by certain trusts, his wife, and the Robert and Mary Jane Hekemian Foundation, except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The sentiment is neutral. It's a standard Form 4 filing reporting changes in ownership. The disposal of shares is offset by the acquisition through the equity incentive plan. No strong positive or negative signals are apparent.

Positives

• The acquisition of shares via the Equity Incentive Plan suggests continued alignment of the director's interests with the company's performance.

Negatives

• The disposal of 216,052 shares could be interpreted negatively by the market, although the reason for disposal is not specified.

Risks

• The document does not explicitly state the reasons for the disposal of shares, which could lead to speculation and uncertainty among investors.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. Investors often monitor these filings to gauge management's sentiment and confidence in the company's prospects.

Stakeholder Impact

• The reported transactions may influence investor perception of the company, potentially affecting the stock price.

Key Dates

Keywords

beneficial ownership, Form 4, FREVS, First Real Estate Investment Trust, Hekemian, director, equity incentive plan, shares, common stock