Form 4: UMH Properties Chairman Eugene W. Landy Reports Significant Beneficial Ownership and New Stock Option Grant
Insider Ownership Report
UMH Properties, Inc. Chairman and 10% Owner, Eugene W. Landy, filed a Form 4 detailing his extensive beneficial ownership of company shares and the grant of a new stock option.
Summary
- Eugene W. Landy, Chairman and 10% Owner of UMH Properties, Inc., reported a total beneficial ownership of 1,312,460.698 non-derivative shares.
- His direct ownership of non-derivative shares stands at 968,757.9 shares.
- Indirect beneficial ownership includes 112,849 shares via The Sheltered Family Trust, 154,380 shares via the Eugene W. and Gloria Landy Family Foundation, 33,561.288 shares via Landy & Landy Employees' Pension Plan, and 42,912.51 shares via Landy & Landy Employees' Profit Sharing Plan.
- Mr. Landy was granted a new stock option for 100,000 shares of UMH Properties, Inc. on June 16, 2025, with an exercise price of $16.86.
- This new stock option will vest over five years, with 20,000 shares vesting annually on each anniversary date from June 16, 2026, through June 16, 2030, and expires on June 16, 2035.
- He also holds existing stock options for a total of 775,000 shares with various exercise prices ranging from $9.70 to $22.57 and expiration dates extending to March 26, 2034.
Sentiment
Score: 6
Explanation: The filing indicates significant and continued beneficial ownership by a key insider, including a new stock option grant, which generally signals confidence in the company's future and aligns management's interests with shareholders.
Positives
- The filing demonstrates significant and continued beneficial ownership by a key insider (Chairman and 10% Owner), which can signal confidence in the company's long-term prospects.
- The grant of a new stock option to the Chairman aligns his incentives with shareholder value creation over a five-year vesting period.
Future Outlook
The newly granted stock option for 100,000 shares will vest over the next five years, with 20% vesting annually on each anniversary date from June 16, 2026, to June 16, 2030, indicating a long-term incentive structure for the Chairman.
Industry Context
This Form 4 filing is a routine disclosure of insider ownership and compensation, common across all publicly traded companies. It provides transparency into the holdings of a key executive and major shareholder within the REIT sector.
Related Party Transactions
- Indirect beneficial ownership is reported through The Sheltered Family Trust, Eugene W. and Gloria Landy Family Foundation, Landy & Landy Employees' Pension Plan, and Landy & Landy Employees' Profit Sharing Plan, which are entities related to the reporting person.
Stakeholder Impact
- Shareholders benefit from the transparency of insider holdings and the alignment of management incentives through stock options.
- Employees associated with the Landy & Landy Employees' Pension Plan and Profit Sharing Plan indirectly hold shares, indicating a vested interest in the company's performance.
Next Steps
- The newly granted stock option will vest annually, with 20,000 shares vesting on June 16, 2026, June 16, 2027, June 16, 2028, June 16, 2029, and June 16, 2030.
Key Dates
| Date | Description |
|---|---|
| 04/04/2018 | Grant date of 100,000 stock options with an exercise price of $15.04, expiring 04/04/2027. |
| 04/02/2019 | Grant date of 100,000 stock options with an exercise price of $13.09, expiring 04/02/2028. |
| 04/02/2020 | Grant date of 100,000 stock options with an exercise price of $13.90, expiring 04/02/2029. |
| 03/25/2021 | Grant date of 100,000 stock options with an exercise price of $9.70, expiring 03/25/2030. |
| 07/14/2022 | Grant date of 100,000 stock options with an exercise price of $22.57, expiring 07/14/2031. |
| 09/09/2023 | Grant date of 100,000 stock options with an exercise price of $18.52, expiring 09/09/2032. |
| 03/21/2024 | Grant date of 75,000 stock options with an exercise price of $14.36, expiring 03/21/2033. |
| 03/26/2025 | Grant date of 100,000 stock options with an exercise price of $15.66, expiring 03/26/2034. |
| 06/16/2025 | Date of earliest transaction, representing the grant date of a new stock option for 100,000 shares. |
| 06/17/2025 | Signature date of the Form 4 filing. |
| 06/16/2026 | First vesting date for 20,000 shares of the newly granted stock option. |
| 06/16/2027 | Second vesting date for 20,000 shares of the newly granted stock option. |
| 06/16/2028 | Third vesting date for 20,000 shares of the newly granted stock option. |
| 06/16/2029 | Fourth vesting date for 20,000 shares of the newly granted stock option. |
| 06/16/2030 | Fifth and final vesting date for 20,000 shares of the newly granted stock option. |
| 06/16/2035 | Expiration date for the newly granted stock option. |
Keywords
UMH Properties, Eugene W. Landy, SEC Form 4, Insider Ownership, Stock Options, Beneficial Ownership, Corporate Governance, Real Estate Investment Trust, REIT
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