Director receives 1,584-share stock award at FREIT (FREVS)
Rhea-AI Filing Summary
Hekemian David reported acquisition or exercise transactions in this Form 4 filing.
FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. director David Hekemian received an award of 1,584 shares of common stock at no cost under FREIT's Equity Incentive Plan of 1998. The award was approved by the Board of Directors based on the Compensation Committee’s recommendation.
Following this grant, he holds 217,636 shares directly. He also has indirect holdings through partnerships, trusts, a family foundation, and his spouse, and he disclaims beneficial ownership for several of these indirect positions except to the extent of any pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 1,584 shares
Net Buy
7 txns
Insider
Hekemian David
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock, par value $0.01 per share | 1,584 | $0.00 | $0.00 |
| holding | Common Stock, par value $0.01 per share | -- | -- | -- |
| holding | Common Stock, par value $0.01 per share | -- | -- | -- |
| holding | Common Stock, par value $0.01 per share | -- | -- | -- |
| holding | Common Stock, par value $0.01 per share | -- | -- | -- |
| holding | Common Stock, par value $0.01 per share | -- | -- | -- |
| holding | Common Stock, par value $0.01 per share | -- | -- | -- |
Holdings After Transaction:
Common Stock, par value $0.01 per share — 217,636 shares (Direct);
Common Stock, par value $0.01 per share — 147,316 shares (Indirect, By Partnerships and LLCs);
Common Stock, par value $0.01 per share — 53,976 shares (Indirect, By Trust);
Common Stock, par value $0.01 per share — 88,940 shares (Indirect, By Foundation);
Common Stock, par value $0.01 per share — 2,750 shares (Indirect, By Spouse)
Footnotes (8)
- F1. Prior to the reincorporation of First Real Estate Investment Trust of New Jersey, Inc. ("FREIT") from a New Jersey real estate investment trust to a Maryland corporation on July 1, 2021, FREIT's equity securities were beneficial interests in FREIT that were designated as "shares" without par value. In connection with the reincorporation of FREIT as a Maryland corporation, FREIT's shares of beneficial interest were converted to shares of common stock, par value $0.01 per share, on a 1-for-1 basis.
- F2. Award of shares of Common Stock, par value $0.01 per share, under FREIT's Equity Incentive Plan of 1998. Such award was approved by FREIT's Board of Directors upon the recommendation of the Compensation Committee of the Board.
- F3. Shares held by certain partnerships and limited liability companies in which Mr. Hekemian is a partner or member.
- F4. Shares held in by a certain trust for the benefit of Mr. Hekemian's nephews, of which Mr. Hekemian is the trustee. Mr. Hekemian disclaims beneficial ownership of the shares held by such trust.
- F5. Shares held in a certain trust, of which Mr. Hekemian is a beneficiary. Mr. Hekemian disclaims beneficial ownership of the shares held by such trust except to the extent of his pecuniary interest therein.
- F6. Shares held by the Robert and Mary Jane Hekemian Foundation, Inc., of which Mr. Hekemian is the Vice President/Treasurer. Mr. Hekemian disclaims beneficial ownership of the shares held by the Robert and Mary Jane Hekemian Foundation, Inc.
- F7. Shares held in a certain trust for the benefit of Mr. Hekemian's children, of which Mr. Hekemian is the trustee. Mr. Hekemian disclaims beneficial ownership of the shares held by such trust.
- F8. Shares held by Mr. Hekemian's wife. Mr. Hekemian disclaims beneficial ownership of the shares held by his wife.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did David Hekemian report in his latest Form 4 for FREVS?
David Hekemian reported receiving an award of 1,584 shares of common stock. The shares were granted at no cost under FREIT’s Equity Incentive Plan of 1998 and approved by the Board following a recommendation from the Compensation Committee.
What indirect FREVS holdings are associated with David Hekemian?
Indirect holdings are reported through partnerships and LLCs, several trusts, a charitable foundation, and his spouse. Footnotes state that Hekemian disclaims beneficial ownership of many of these shares, except to the extent of any pecuniary interest where applicable.
Does this FREVS Form 4 indicate any option exercises or sales?
No option exercises or share sales are reported in this Form 4. The only transactional entry is an acquisition coded as a grant of 1,584 common shares, with other lines reflecting updated indirect holdings rather than new market trades.