Form 4: UMH Properties EVP Reports Stock Transactions

UMH Properties' EVP and General Counsel, Craig Koster, reported a voluntary surrender of restricted stock and a new restricted stock grant.

Summary

• Craig Koster, Executive Vice President and General Counsel of UMH Properties, Inc., reported changes in his beneficial ownership of company securities.
• On October 28, 2025, Koster voluntarily surrendered 11,333.17 shares of UMH Properties, Inc. common stock, which included a restricted stock award granted on January 7, 2025, and related dividend reinvestment shares. This transaction was reported with a price of $0.
• Following the surrender, Koster's direct beneficial ownership of UMH Properties, Inc. common stock was 115,219.28 shares.
• On January 30, 2026, Koster was granted 4,159 shares of restricted stock under the Company's 2023 Equity Incentive Award Plan at a price of $15.63 per share.
• This new restricted stock grant is set to vest ratably over three years on the anniversary of the grant date.
• After the grant, Koster's direct beneficial ownership of UMH Properties, Inc. common stock increased to 119,378.28 shares.
• Koster also directly owns 337.002 shares of UMH Properties, Inc. (Preferred D) and various derivative securities (stock options) totaling 354,000 shares with exercise prices ranging from $9.70 to $23.81 and expiration dates between 2027 and 2035.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral. It reports routine executive compensation activities, including a surrender of previously granted restricted stock and a new grant, which are standard practices for managing executive equity incentives.

Positives

• Craig Koster received a grant of 4,159 restricted shares of UMH Properties, Inc. common stock on January 30, 2026, as part of the company's 2023 Equity Incentive Award Plan, indicating ongoing executive compensation and alignment with shareholder interests.

Negatives

• Craig Koster voluntarily surrendered 11,333.17 shares of restricted stock and related dividend reinvestment shares on October 28, 2025, reducing his direct beneficial ownership by that amount.

Future Outlook

The newly granted restricted stock is scheduled to vest ratably over three years on the anniversary of the January 30, 2026, grant date, indicating future equity compensation for the executive.

Industry Context

StockSavvy.ai notes that Form 4 filings are routine disclosures of insider transactions, providing transparency into executive stock ownership changes. These transactions, particularly restricted stock grants, are common components of executive compensation packages designed to align management incentives with long-term company performance and shareholder value.

Stakeholder Impact

• Shareholders: The grant of restricted stock represents a component of executive compensation, which can dilute existing shares over time but is intended to align management's interests with shareholder value creation. The surrender of shares reduces the executive's direct holdings.

Next Steps

• The 4,159 restricted stock shares granted on January 30, 2026, will vest ratably over three years on the anniversary of the grant date (January 30, 2027, January 30, 2028, and January 30, 2029).

Key Dates

Keywords

UMH Properties, UMH, Craig Koster, Form 4, Insider Trading, Beneficial Ownership, Restricted Stock, Equity Incentive Plan, Executive Compensation, Stock Grant, Stock Surrender