Form 4: Robert Hekemian Jr., Director and CEO of First Real Estate Investment Trust of New Jersey, Reports Acquisition of Shares

Robert Hekemian Jr., Director and CEO of First Real Estate Investment Trust of New Jersey, reports acquiring 1,193 shares of common stock and discloses beneficial ownership of a total of 368,291 shares through direct and indirect holdings.

Summary

• On February 20, 2025, Robert S. Hekemian Jr., the CEO and a director of First Real Estate Investment Trust of New Jersey (FREVS), acquired 1,193 shares of common stock.
• The acquisition was an award of shares under FREIT's Equity Incentive Plan of 1998, approved by the Board of Directors.
• Following the transaction, Hekemian directly owns 219,389 shares.
• Hekemian also indirectly owns shares through trusts, partnerships, and his spouse, but disclaims beneficial ownership except to the extent of his pecuniary interest in some of the trusts and partnerships.
• The total number of shares beneficially owned following the reported transactions is 368,291.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The CEO acquiring shares suggests confidence in the company's future, but it's a routine transaction under an existing equity plan.

Positives

• The acquisition of shares by the CEO demonstrates confidence in the company.
• The share award is part of the company's Equity Incentive Plan, aligning management's interests with shareholders.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The acquisition of shares by the CEO could positively influence shareholder sentiment.

Key Dates

Keywords

FREVS, First Real Estate Investment Trust of New Jersey, Robert Hekemian Jr., Beneficial Ownership, Form 4, Equity Incentive Plan, Director, CEO, Shares