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

Rhea-AI Filing Summary

Dennis H. Gartman, a director of Armada Hoffler Properties, Inc. (AHH), acquired 1,877 shares of the company’s common stock on 09/15/2025 at a reported price of $7.322 per share. The filing states these shares were issued in lieu of his cash retainer. After the issuance, Mr. Gartman beneficially owned 46,480 shares. The Form 4 was filed as a single reporting person submission and signed by an attorney-in-fact on 09/17/2025.

Positive

• Insider equity alignment: A director received shares in lieu of cash, increasing personal ownership to 46,480 shares
• Timely disclosure: Transaction reported on Form 4 with signature by attorney-in-fact, ensuring regulatory transparency

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Director received shares in lieu of cash retainer, modestly increasing insider stake; procedural filing only.

The transaction reflects a routine director compensation conversion where equity was issued instead of a cash retainer. This aligns the director’s pay with shareholder outcomes without indicating a material change to governance or control. The filing discloses the post-transaction beneficial ownership of 46,480 shares, which provides transparency on the director’s stake. No derivative or additional transactional details are reported.

Securities Analyst

TL;DR: Small insider acquisition via compensation conversion; immaterial to valuation but signals alignment with shareholders.

The 1,877-share issuance at $7.322 per share is a compensation mechanism rather than a market purchase, so its impact on float and market liquidity is minimal. The disclosure is timely and complies with Section 16 reporting requirements. Because the filing lacks information on total outstanding shares or previous insider trading patterns, the event should be considered informational rather than materially market-moving.

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
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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)
09/15/2025

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	09/15/2025		A		1,877(1)	A	$7.322	46,480	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	09/17/2025
	** 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 Dennis H. Gartman report on the Form 4 for AHH?

He was issued 1,877 shares of Armada Hoffler Properties common stock on 09/15/2025 in lieu of his cash retainer at a price of $7.322 per share.

How many Armada Hoffler (AHH) shares does Dennis H. Gartman beneficially own after the transaction?

46,480 shares beneficially owned following the reported issuance.

Was the Form 4 filed jointly or by a single reporting person?

The Form 4 was filed by one reporting person (single reporting person indicated in the filing).

Why were the shares issued to the director according to the filing?

The filing states the shares were issued in lieu of his cash retainer.

When was the Form 4 signed and by whom?

The form was signed on 09/17/2025 by Matthew T. Barnes-Smith as attorney-in-fact for Dennis H. Gartman.