LANDY SAMUEL A 4

What Happened Samuel A. Landy, President, CEO and a director of UMH Properties, voluntarily surrendered 92,992.476 shares (disposition to the issuer) on October 28, 2025 for $0 proceeds, and on January 30, 2026 was granted 34,122 restricted shares at a reported per-share value of $15.63 (total value $533,327). The surrender was of previously granted restricted stock and related dividend reinvestment shares; the new award is a restricted stock grant.

Key Details

• Disposition: 92,992.476 shares surrendered to the company on 2025-10-28; reported consideration $0 (footnote F1 states this was a voluntary surrender of a Jan 7, 2025 restricted award and related dividend reinvestment shares). Transaction code: D.
• Grant/Award: 34,122 restricted shares granted on 2026-01-30 at $15.63/share, total value $533,327. Transaction code: A. Footnote F2: these restricted shares vest ratably over three years on each anniversary of the grant.
• Shares owned after the transactions: not provided in the filing excerpt you supplied.
• Filing: Form 4 filed 2026-02-02 for a transaction dated 2025-10-28 — this indicates the October surrender was reported late relative to the typical 2-business-day Form 4 deadline.

Context

• The January 30 entry is an equity award (restricted stock) subject to multi-year vesting, not an open-market purchase — awards reflect compensation, not an immediate cash investment signal.
• The October surrender was voluntary and yielded no cash proceeds; such surrenders commonly relate to plan adjustments or forfeitures and do not necessarily indicate trading intent.
• Because the surrender was reported late, retail investors should rely on the facts disclosed while noting timeliness issues when assessing recent insider activity.