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Armada Hoffler (AHH) insider Dennis Gartman adds 1,964 shares

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Armada Hoffler Properties, Inc. (AHH) – Form 4 insider activity

Director Dennis H. Gartman reported an acquisition of 1,964 common shares on 06/16/2025. The shares were issued in lieu of his cash retainer, effectively representing stock-based compensation rather than an open-market purchase. The filing lists a reference price of $7.00 per share, placing the notional value of the grant at roughly $13,748. Following the transaction, Gartman’s direct holdings increased to 36,665 shares. No derivative securities were involved, and the transaction was not made under a Rule 10b5-1 plan. The report was signed by attorney-in-fact Matthew T. Barnes-Smith on 06/18/2025.

Given the modest size and routine nature of this director compensation grant, the event is unlikely to materially affect AHH’s valuation, but it does incrementally align director incentives with shareholder interests.

Positive

  • None.

Negative

  • None.

Insights

TL;DR: Routine director share grant; negligible financial impact, mildly positive alignment.

The Form 4 discloses a small equity grant (1,964 shares, ≈$14k) to Director Dennis Gartman as payment for board service. Post-transaction ownership rises to 36,665 shares, still an immaterial stake relative to AHH’s ~86 million shares outstanding. Because the shares were not purchased with personal funds and represent standard compensation, the signal value is limited. There are no red flags such as large disposals, derivative exercises, or 10b5-1 plan indications. Overall, the filing is neutral for valuation but marginally positive for governance, showing continued equity-based alignment.

Insider Gartman Dennis H.
Role Director
Type Security Shares Price Value
Grant/Award Common Stock 1,964 $7.00 $14K
Holdings After Transaction: Common Stock — 36,665 shares (Direct)
Footnotes (1)
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Form 4 Insider Transactions: What Each Field Means →
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*
Gartman Dennis H.
(Last) (First) (Middle)
C/O ARMADA HOFFLER PROPERTIES, INC.
222 CENTRAL PARK AVENUE, 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)
06/16/2025
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 06/16/2025 A 1,964(1) A $7 36,665 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
Explanation of Responses:
1. These shares were issued to the director in lieu of his cash retainer.
Remarks:
/s/ Matthew T. Barnes-Smith, as Attorney-in-Fact for Dennis H. Gartman 06/18/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

How many AHH shares did Director Dennis Gartman acquire?

He acquired 1,964 common shares.

What was the reported price per share in the Form 4 filing?

The filing references a price of $7.00 per share.

When did the transaction occur?

The acquisition date was 06/16/2025.

What is Gartman’s total direct ownership after the transaction?

His direct holdings increased to 36,665 shares.

Why were the shares issued to the director?

They were issued in lieu of his cash retainer for board service.

Was the transaction executed under a Rule 10b5-1 plan?

No, the filing does not indicate a 10b5-1 trading plan.