Form 4: UMH Properties CEO Adjusts Equity Holdings
Insider Transaction Report
Samuel A. Landy, UMH Properties' President and CEO, reported a voluntary surrender of restricted stock and a new grant of restricted stock, adjusting his beneficial ownership.
Summary
- Samuel A. Landy, President and CEO of UMH Properties, Inc., reported changes in his beneficial ownership.
- On October 28, 2025, Landy voluntarily surrendered 92,992.476 shares of restricted stock and related dividend reinvestment shares to the company.
- On January 30, 2026, Landy was granted 34,122 shares of restricted stock at a price of $15.63 per share under the Company's 2023 Equity Incentive Award Plan.
- These newly granted shares will vest ratably over three years on the anniversary of the grant date.
- Following these transactions, Landy's direct beneficial ownership of UMH Properties, Inc. common stock is 1,002,336.704 shares.
- Landy also holds indirect beneficial ownership through a spouse (12,127.31 shares), jointly with a spouse (41,359.12 shares), The Landy 2022 Family Trust (50,798.71 shares), and as Co-Manager of EWL Grandchildren Fund LLC (48,000 shares).
- His derivative holdings, consisting of various stock options, remain unchanged.
Sentiment
Score: 6
Explanation: StockSavvy.ai views this as a neutral to slightly positive event. While there was a surrender of shares, it was offset by a new restricted stock grant, indicating a re-alignment of executive incentives rather than a net reduction in commitment or a negative outlook.
Positives
- Grant of 34,122 restricted stock shares to the President and CEO, Samuel A. Landy, under the 2023 Equity Incentive Award Plan, aligning management incentives with shareholder interests.
- The new restricted stock grant increases Samuel A. Landy's direct beneficial ownership to 1,002,336.704 shares, demonstrating continued commitment.
Negatives
- Voluntary surrender of 92,992.476 restricted stock shares and related dividend reinvestment shares by Samuel A. Landy.
Future Outlook
NA
Industry Context
StockSavvy.ai notes that insider transactions, such as those reported in a Form 4, provide insights into management's perspective on the company's value. While a surrender of shares might seem negative, the simultaneous grant of new restricted stock under an incentive plan suggests a restructuring of compensation rather than a loss of confidence, a common practice in executive compensation adjustments across the REIT sector.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Equity Incentive Plan Utilization | Grant of restricted stock to named executive officers under the Company's 2023 Equity Incentive Award Plan. | 01/30/2026 | Aligns executive compensation with long-term shareholder value creation through performance-based equity awards. |
Stakeholder Impact
- Shareholders: The grant of restricted stock under an incentive plan aims to align the CEO's interests with long-term shareholder value. The surrender of previous awards might be part of a compensation restructuring.
- Management: The CEO's compensation structure is adjusted, with new restricted stock vesting over three years, providing long-term incentives.
Next Steps
- The 34,122 restricted stock shares granted on January 30, 2026, will vest ratably over three years on the anniversary of the grant date.
Key Dates
| Date | Description |
|---|---|
| 01/19/2018 | Date exercisable for 50,000 derivative securities with an exercise price of $14.25, expiring 01/19/2027. |
| 04/04/2018 | Date exercisable for 50,000 derivative securities with an exercise price of $15.04, expiring 04/04/2027. |
| 04/02/2019 | Date exercisable for 50,000 derivative securities with an exercise price of $13.09, expiring 04/02/2028. |
| 03/21/2024 | Date exercisable for 29,500 derivative securities with an exercise price of $14.36, expiring 03/21/2033. |
| 01/07/2025 | Grant date of restricted stock award that was voluntarily surrendered on 10/28/2025. |
| 10/28/2025 | Date of voluntary surrender of 92,992.476 restricted stock shares and related dividend reinvestment shares by Samuel A. Landy. |
| 01/30/2026 | Date of grant of 34,122 restricted stock shares to Samuel A. Landy under the 2023 Equity Incentive Award Plan. |
| 02/02/2026 | Signature date of the reporting person's representative, Nelli Madden. |
Recommendation
holdThe filing details routine insider transactions related to executive compensation, including a surrender of prior restricted stock and a new grant. These actions are typical for aligning management incentives and do not suggest a fundamental change in the company's prospects or a strong buy/sell signal. Therefore, a 'hold' recommendation is appropriate as these are expected compensation adjustments.
Keywords
UMH Properties, UMH, Samuel A. Landy, Insider Trading, Form 4, Restricted Stock, Equity Incentive Plan, CEO, Director, Stock Ownership
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