Carus Jeffrey A 4

What Happened

• Jeffrey A. Carus, a director of UMH PROPERTIES, INC. (UMH), was granted two awards on 2026-01-21: 1,220 shares of common stock (non-derivative) at $16.15/share ($19,703) and a 12,000-share derivative award (stock option) priced at $16.15/share ($193,800). Total reported value of the grants: $213,503. These were awards/grants (not open-market purchases or sales).

Key Details

• Transaction dates and prices: 1,220 shares @ $16.15 (acquired) and 12,000 derivative shares @ $16.15 (acquired), both dated 2026-01-21.
• Shares owned after transaction: Not specified in the filing.
• Footnotes: F1 indicates the grants are director stock awards. F2 states the 12,000-share stock option vests 20% per year over five years (2,400 shares vesting each year on 1/21 from 2027–2031).
• Filing timeliness: Report filed 2026-01-23 for transactions on 2026-01-21 (filed within the typical Form 4 reporting window).

Context

• Director awards are routine compensation to align executives/directors with shareholder interests; they are not the same as open-market purchases and do not necessarily signal immediate bullish trading intent.
• The 12,000-share derivative grant is subject to multi-year vesting, meaning value is realized over time if the director remains eligible and other plan conditions are met.