Koster Craig 4

What Happened Craig Koster, EVP and General Counsel of UMH Properties (UMH), recorded two transactions. On 2025-10-28 he voluntarily surrendered 11,333.17 restricted shares back to the company (disposition to issuer). On 2026-01-30 he was granted/received 4,159 restricted shares at $15.63 per share, a grant valued at about $65,005. The surrender was of a prior restricted stock award and related dividend reinvestment shares; the later grant is a restricted stock award under the company’s equity plan.

Key Details

• Transactions:
  • 2025-10-28 — Disposition to issuer (D): 11,333.17 shares; proceeds reported $0 (voluntary surrender). (Footnote F1.)
  • 2026-01-30 — Award/Acquisition (A): 4,159 shares at $15.63 each; total value ≈ $65,005. (Footnote F2.)
• Post-transaction beneficial ownership: not specified in the summary filing.
• Footnotes:
  • F1: Voluntary surrender to the company of a restricted stock award granted Jan 7, 2025 and related dividend reinvestment shares.
  • F2: Restricted stock granted under UMH’s 2023 Equity Incentive Award Plan; vests ratably over three years on each anniversary of the grant date.
• Filing timeliness: Form 4 was filed on 2026-02-02 reporting the Oct 28, 2025 surrender and the Jan 30, 2026 grant. The Oct 28 transaction was reported later than the typical two-business-day Form 4 deadline.

Context

• The 11,333.17-share action was a voluntary surrender to the issuer (not an open-market sale), commonly related to award cancellations or adjustments and not necessarily a signal of market sentiment.
• The 4,159 shares are a restricted stock award (compensation), not an open-market purchase; they vest over time per the plan and therefore reflect standard equity compensation rather than an immediate investment by the insider.