[Form 4] UMH PROPERTIES, INC. Insider Trading Activity

Rhea-AI Filing Summary

UMH Properties insider transaction summary: Samuel A. Landy, President and CEO and a director, reported a sale of 22,100 shares of UMH stock on 09/26/2025 at a price of $14.76 per share. After the sale, his reported direct beneficial ownership is 1,074,568.25 shares, which reflects prior dividend reinvestments and 97,045 shares held in a 401(k). The filing also discloses various indirect holdings: 12,098.66 shares held by spouse, 41,338.5 shares held jointly with spouse, 50,060.12 shares held by The Landy 2022 Family Trust, and 48,000 shares via co-management of EWL Grandchildren Fund LLC. Several outstanding options are listed with exercise prices and expirations through 2033.

Positive

• Substantial continued ownership: Reporting person retains 1,074,568.25 shares directly after the sale, indicating significant alignment with shareholders.
• Transparent disclosure of indirect holdings: Spouse holdings, family trust, 401(k) balances, and co-managed fund stakes are explicitly reported.

Negative

• Insider sale reported: 22,100 shares were sold on 09/26/2025 at $14.76 per share.

Insights

Financial Analyst

TL;DR: Insider sold a modest block; executive still holds a large stake and multiple long-dated options.

The 22,100-share sale at $14.76 is explicitly reported and is small relative to the reporting person's direct beneficial ownership of 1,074,568.25 shares, so the transaction appears routine rather than a major liquidity event. The Form 4 also documents option grants exercisable through 2033 and multiple indirect holdings, indicating ongoing alignment with the company via concentrated ownership and legacy estate/trust structures. No additional context or reasons for the sale are provided in the filing.

Corporate Governance Expert

TL;DR: Disclosure meets Section 16 reporting requirements; ownership structure is concentrated and well-documented.

The filing cleanly identifies direct and indirect beneficial ownership and the relationship of the reporting person as President, CEO, and director. The disclosure of spouse holdings, a family trust, and co-managed fund holdings provides transparency about control and potential voting power. The sale is recorded with price and date, and the signature indicates timely filing. The Form does not state any related-party or policy-driven constraints concerning the disposition.

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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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).

1. Name and Address of Reporting Person^*

LANDY SAMUEL A

(Last) (First) (Middle)

3499 RT 9 NORTH

STE 3-C

(Street)

FREEHOLD NJ 07728

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
UMH PROPERTIES, INC. [ UMH ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/26/2025

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
UMH Properties, Inc.	09/26/2025		S		22,100(1)	D	$14.76	1,074,568.25(2)	D
UMH Properties, Inc.								12,098.66(3)	I	Held by Spouse
UMH Properties, Inc.								41,338.5(4)	I	Held with Spouse
UMH Properties, Inc.								50,060.12(5)	I	The Landy 2022 Family Trust
UMH Properties, Inc.								48,000	I	Co-Manager of EWL Grandchildren Fund LLC

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
UMH Properties, Inc.	$14.36							03/21/2024	03/21/2033	UMH Properties, Inc.	29,500		29,500	D
UMH Properties, Inc.	$13.09							04/02/2019	04/02/2028	UMH Properties, Inc.	50,000		50,000	D
UMH Properties, Inc.	$15.04							04/04/2018	04/04/2027	UMH Properties, Inc.	50,000		50,000	D
UMH Properties, Inc.	$14.25							01/19/2018	01/19/2027	UMH Properties, Inc.	50,000		50,000	D

Explanation of Responses:

1. Sale of shares.

2. Includes 5,385.38 shares acquired through dividend reinvestment on 9/15/25, and 97,045 shares held in 401(k) as of 9/29/25.

3. Includes 29.67 shares acquired through dividend reinvestment on 9/15/25.

4. Includes 21.35 shares acquired through dividend reinvestment on 9/15/25.

5. Includes 764.93 shares acquired through dividend reinvestment on 9/15/25.

	Nelli Madden	09/29/2025
	** 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 Samuel A. Landy sell and when (UMH)?

He sold 22,100 shares of UMH on 09/26/2025 at an indicated price of $14.76 per share.

How many UMH shares does the reporting person own after the transaction?

The filing reports 1,074,568.25 shares directly beneficially owned following the sale.

Are there indirect or related holdings disclosed for UMH?

Yes. The filing lists 12,098.66 shares held by spouse, 41,338.5 shares held with spouse, 50,060.12 shares in The Landy 2022 Family Trust, and 48,000 shares via co-management of EWL Grandchildren Fund LLC.

Does the Form 4 show any outstanding options for UMH held by the reporting person?

Yes. The filing discloses multiple options exercisable with exercise prices and expirations, including a $14.36 option expiring 03/21/2033 and other options exercisable through 2027–2028.

Were dividend reinvestments or 401(k) holdings noted in the Form 4?

Yes. Explanations state certain share totals include dividend reinvestments on 09/15/2025 and 97,045 shares held in a 401(k) as of 09/29/2025.