[Form 4] Armada Hoffler Properties, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Armada Hoffler Properties director F. Blair Wimbush purchased 520.053 shares of the companys common stock through a broker-sponsored dividend reinvestment program on 10/02/2025 at a weighted average price of $6.975 per share. After the transaction the reporting person beneficially owns 26,343.887 shares in total on a direct basis. The filing also shows ownership of 12,919 Time-Based LTIP Units that convert into common units of the operating partnership and ultimately can be redeemed or converted into company common stock under the plan terms; those units are subject to vesting and a two-year conversion restriction absent a change of control. The purchase was reported on Form 4 and signed by an attorney-in-fact on 10/06/2025.

Positive

• Director increased direct equity by purchasing 520.053 shares via dividend reinvestment on 10/02/2025
• Ownership transparency includes disclosure of 12,919 Time-Based LTIP Units and conversion/redeemability terms

Negative

• Purchase size is modest relative to total reported holdings (26,343.887 shares), limiting immediate market impact
• LTIP Units subject to a two-year conversion restriction (no conversion to common units until two years after grant absent a change of control)

Insights

Corporate Governance Analyst

Director purchased shares via dividend reinvestment, modest direct stake increase.

The reported acquisition of 520.053 shares through a dividend reinvestment plan signals continued personal economic exposure to the company's equity while remaining a direct holder of 26,343.887 shares. Dividend reinvestment purchases are routine and reflect automatic compounding rather than discretionary open-market buys.

The holders 12,919 Time-Based LTIP Units convert to common units after vesting and carry redemption or conversion rights tied to the operating partnership structure; they are restricted from conversion to common units for two years absent a defined change of control. Monitor vesting schedules and any future open-market transactions for material changes within the next 24 months.

SEC Filings Specialist

Form 4 shows a small weighted-average DRIP purchase and standard disclosure language.

The filing correctly reports a broker-sponsored dividend reinvestment purchase coded as Transaction Code P on 10/02/2025 with a weighted average price range disclosed ($6.94 to $7.02). The filer affirms availability of detailed per-trade pricing if requested by the company or SEC staff.

From a compliance perspective, the Form 4 is routine: it discloses both direct common stock holdings and derivative LTIP units, notes conversion mechanics, and is signed by an attorney-in-fact. Short-term review should confirm no additional insider sales or larger purchases are reported in subsequent filings within 30 days.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Wimbush Frederick Blair

(Last) (First) (Middle)

C/O ARMADA HOFFLER PROPERTIES, INC.

222 CENTRAL PARK AVE, SUITE 1000

(Street)

VIRGINIA BEACH VA 23462

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Armada Hoffler Properties, Inc. [ AHH ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/02/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	10/02/2025		P		520.053(1)	A	$6.975(2)	26,343.887	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Time-Based LTIP Units	(3)(4)							(3)(4)	(3)(4)	Common Stock	12,919		12,919	D

Explanation of Responses:

1. Shares purchased pursuant to a broker-sponsored dividend reinvestment program.

2. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.94 to $7.02, inclusive. The reporting person undertakes to provide to Armada Hoffler Properties, Inc. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote (2) to this Form 4.

3. Represents Time-Based LTIP Units ("Time-Based LTIP Units") in Armada Hoffler, L.P. (the "Operating Partnership"), the operating partnership of the Company, and of which the Company is the general partner. Under the agreement of limited partnership of the Operating Partnership (the "OP Agreement") and subject to conditions set forth in the OP Agreement, following the date on which the Time-Based LTIP Units vest, Time-Based LTIP Units are convertible into common units of limited partnership interest in the Operating Partnership ("Common Units"), at the holder's option. Under the award agreement pursuant to which the Time-Based LTIP Units were granted to the reporting person, except in connection with a Change of Control (as defined in the OP Agreement), the Time-Based LTIP Units may not be converted to Common Units until two years following the date of grant. Time-Based LTIP Units have no expiration date.

4. Each Common Unit is redeemable for cash equal to the then-current market value of one share of the Company's common stock or, at the election of the Company, one share of the Company's common stock. Common Units have no expiration date.

Remarks:

	/s/ Matthew T. Barnes-Smith, as Attorney-in-Fact for F. Blair Wimbush	10/06/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Armada Hoffler (AHH) director F. Blair Wimbush buy on 10/02/2025?

The director purchased 520.053 shares of common stock through a broker-sponsored dividend reinvestment program at a weighted average price of $6.975 per share.

How many shares does F. Blair Wimbush beneficially own after the Form 4 transaction?

Following the reported transaction, the director beneficially owns 26,343.887 shares on a direct basis.

What are the Time-Based LTIP Units disclosed in the filing?

The reporting person holds 12,919 Time-Based LTIP Units that convert to common units of the operating partnership upon vesting and can be redeemed or converted into common stock under the agreement; conversion is restricted for two years after grant except in a change of control.

What price range was paid for the shares in this Form 4?

The shares were purchased in multiple transactions at prices ranging from $6.94 to $7.02, and a weighted average price of $6.975 is reported.

Was the Form 4 properly signed and when was it filed?

The Form 4 was signed by an attorney-in-fact on 10/06/2025, which is the signature date shown on the filing.