Form 4: OLP CFO Isaac Kalish Acquires Restricted Stock

ONE LIBERTY PROPERTIES INC's Senior Vice President and CFO, Isaac Kalish, acquired 6,800 shares of restricted common stock effective January 14, 2026, which will vest in 2031.

Summary

• Isaac Kalish, Senior Vice President and CFO of ONE LIBERTY PROPERTIES INC (OLP), acquired 6,800 shares of restricted common stock.
• The effective date of this acquisition was January 14, 2026.
• These shares were issued as restricted stock under the issuer's 2025 Incentive Plan.
• The restricted shares are subject to Kalish's continued relationship with the company and will vest on January 13, 2031.
• Following this transaction, Kalish's direct beneficial ownership stands at 97,045.871 shares, which includes shares acquired through the issuer's dividend reinvestment plan.
• Kalish also holds indirect beneficial ownership of 19,438 shares through Gould Investors L.P. Pension Trust, 155,033 shares through REIT Management Corp. Pension Plan and 401(k) Tax Deferred Savings Plan Profit Sharing Trust, and 4,169 shares through BRT Apartments Corp. Pension Trust, where he serves as a trustee.
• Additionally, Kalish holds 2,641.813 shares indirectly as custodian for a child pursuant to UGMA, though he disclaims beneficial interest in these specific shares.

Sentiment

Score: 7

Explanation: The acquisition of restricted stock by a senior executive is generally viewed positively as it aligns management's interests with long-term shareholder value, though it is a routine compensation event rather than a discretionary open-market purchase.

Positives

• Senior management acquiring additional shares, particularly restricted stock with a long vesting period, aligns their interests with shareholders, indicating confidence in the company's long-term future and performance.

Future Outlook

The five-year vesting period for the restricted stock suggests a long-term retention strategy for senior management, aligning executive incentives with the company's sustained performance and future growth.

Industry Context

Insider stock acquisitions, particularly restricted stock grants with multi-year vesting periods, are common practices in corporate compensation structures across various industries, including Real Estate Investment Trusts (REITs), aiming to align executive interests with long-term shareholder value and ensure executive retention.

Comparison to Industry Standards

• The issuance of restricted stock with a multi-year vesting schedule is a standard executive compensation practice, comparable to similar incentive plans at other REITs and publicly traded companies. This structure is designed to incentivize long-term performance and executive retention, aligning with common corporate governance benchmarks.

Corporate Governance

Related Party Transactions

• Isaac Kalish is a trustee of Gould Investors L.P. Pension Trust, which beneficially owns 19,438 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 collectively own 155,033 shares of common stock.
• Isaac Kalish is a trustee of BRT Apartments Corp. Pension Trust, which beneficially owns 4,169 shares of common stock.
• Isaac Kalish is custodian for a child, holding 2,641.813 shares, though he disclaims any beneficial interest in these specific shares.

Stakeholder Impact

• Shareholders: Potential positive impact due to increased alignment of executive interests with long-term company performance and value creation.
• Employees: No direct impact mentioned, but this transaction is part of the overall executive compensation strategy.

Next Steps

• Continued employment of Isaac Kalish with ONE LIBERTY PROPERTIES INC until January 13, 2031, for the restricted shares to fully vest.

Key Dates

Recommendation

The Form 4 reports a routine restricted stock grant to a senior executive, which is a standard component of compensation designed for retention and alignment. It does not present new information that would fundamentally alter the investment thesis for ONE LIBERTY PROPERTIES INC, thus a 'hold' recommendation remains appropriate based solely on this filing.

Keywords

OLP, ONE LIBERTY PROPERTIES, Isaac Kalish, Form 4, insider transaction, restricted stock, beneficial ownership, CFO, executive compensation