Form 4: UMH Properties CFO Reports Stock Transactions
Insider Transaction Report
UMH Properties' EVP and CFO, Anna T. Chew, reported a surrender of restricted stock and a new grant of restricted stock.
Summary
- Anna T. Chew, EVP and CFO, and a Director of UMH Properties, Inc., reported changes in her beneficial ownership.
- On October 28, 2025, 72,650.112 shares of UMH Properties, Inc. common stock were voluntarily surrendered to the company.
- This surrender was a return of a restricted stock award granted on January 7, 2025, including related dividend reinvestment shares, at a price of $0.
- Following this transaction, direct beneficial ownership was 1,048,927.078 shares.
- On January 30, 2026, 26,658 shares of UMH Properties, Inc. common stock were acquired at a price of $15.63 per share.
- This acquisition represents a restricted stock grant under the Company's 2023 Equity Incentive Award Plan, which will vest ratably over three years on the anniversary of the grant date.
- After this acquisition, direct beneficial ownership increased to 1,075,585.078 shares.
- Various derivative securities (stock options) are also held, with exercise prices ranging from $9.70 to $23.81 and expiration dates extending to June 2035.
Sentiment
Score: 6
Explanation: StockSavvy.ai views this as a neutral to slightly positive event. While there was a surrender of shares, it was followed by a new grant, indicating ongoing executive incentive alignment, which is generally positive for corporate governance and long-term performance.
Positives
- Acquisition of 26,658 restricted shares at $15.63, indicating continued equity incentive and alignment with shareholder interests.
- The new restricted stock grant vests over three years, providing a long-term incentive for management performance.
Negatives
- Voluntary surrender of 72,650.112 restricted shares and related dividend reinvestment shares at $0. This could be due to specific plan terms or performance conditions not being met, or a restructuring of compensation.
Industry Context
StockSavvy.ai notes that insider transactions, particularly restricted stock grants, are common mechanisms for executive compensation and alignment of interests in the REIT sector, which UMH Properties operates within. The surrender of restricted stock could be part of a re-evaluation of compensation structures or performance-based vesting conditions.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Executive Compensation | Grant of restricted stock under the Company's 2023 Equity Incentive Award Plan to a key executive, aligning executive interests with long-term shareholder value through multi-year vesting. | 01/30/2026 | Enhances executive retention and motivation, linking compensation directly to company performance over time. |
Stakeholder Impact
- Shareholders: The grant of restricted stock aligns executive interests with shareholder value creation over the long term. The surrender of previous restricted stock could be a re-alignment of compensation.
Next Steps
- The newly granted restricted stock will vest ratably over three years on the anniversary of the grant date (January 30, 2026).
Key Dates
| Date | Description |
|---|---|
| 01/19/2018 | Date exercisable/expiration date for 10,000 derivative securities. |
| 04/04/2018 | Date exercisable/expiration date for 50,000 derivative securities. |
| 04/02/2020 | Date exercisable/expiration date for 50,000 derivative securities. |
| 03/25/2021 | Date exercisable/expiration date for 20,000 derivative securities. |
| 07/14/2022 | Date exercisable/expiration date for 50,000 derivative securities. |
| 03/28/2023 | Date exercisable/expiration date for 39,000 derivative securities. |
| 03/21/2024 | Date exercisable/expiration date for 75,000 derivative securities. |
| 01/07/2025 | Grant date of the restricted stock award that was voluntarily surrendered. |
| 03/26/2025 | Date exercisable/expiration date for 50,000 derivative securities. |
| 10/28/2025 | Date of voluntary surrender of 72,650.112 restricted shares. |
| 01/30/2026 | Date of acquisition of 26,658 restricted shares. |
| 02/02/2026 | Signature date of the reporting person's representative. |
| 06/16/2026 | Date exercisable/expiration date for 50,000 derivative securities. |
| 01/19/2027 | Expiration date for 10,000 derivative securities. |
| 04/04/2027 | Expiration date for 50,000 derivative securities. |
| 04/02/2029 | Expiration date for 50,000 derivative securities. |
| 03/25/2030 | Expiration date for 20,000 derivative securities. |
| 07/14/2031 | Expiration date for 50,000 derivative securities. |
| 03/28/2032 | Expiration date for 39,000 derivative securities. |
| 03/21/2033 | Expiration date for 75,000 derivative securities. |
| 03/26/2034 | Expiration date for 50,000 derivative securities. |
| 06/16/2035 | Expiration date for 50,000 derivative securities. |
Recommendation
holdThis Form 4 filing details routine executive compensation transactions, including a surrender of previously granted restricted stock and a new grant. These actions are typical for aligning executive incentives with company performance and do not provide new fundamental information that would warrant a change in investment recommendation. The overall beneficial ownership remains substantial, suggesting continued confidence from the executive.
Keywords
UMH Properties, UMH, Anna T. Chew, Form 4, Insider Trading, Restricted Stock, Stock Options, Executive Compensation, Beneficial Ownership, SEC Filing
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