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

Rhea-AI Filing Summary

Michael P. Landy, a director of UMH Properties, received a director stock award of 1,243 common shares at an indicated price of $15.08, which increased his reported direct holdings to 352,051.59 shares. The filing shows he no longer holds a reportable custodial interest in 62,698.64 shares previously attributed to his daughter. The report also discloses indirect holdings of 18,310.2 shares for his son and 48,000 shares held via co-management of an LLC. In addition, the reporting person has two option positions totaling 21,000 underlying shares with exercise prices of $15.80 and $14.36, respectively.

Positive

• Director received equity compensation of 1,243 shares, aligning his interests with shareholders
• Clarification of custodial ownership removing 62,698.64 shares from the reporting person's beneficial interest increases transparency
• Detailed disclosure of derivative positions (21,000 underlying shares) provides clarity on potential future dilution

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine director compensation and household ownership reallocations with no disclosed governance issues.

The transaction is consistent with customary director equity awards and internal family reallocation of custodial holdings. The director received 1,243 shares as a stock award, which modestly increases his direct stake. The removal of 62,698.64 shares from his custodial reporting clarifies beneficial ownership lines for governance transparency. Holdings include outstanding equity-linked instruments that could dilute or align incentives if exercised.

Securities Analyst

TL;DR: Non-material insider acquisition; option positions disclosed but no exercises or sales reported.

The disclosed award and option positions are typical insider compensation events and do not indicate transactional liquidity or market disposition. Direct beneficial ownership remains substantial at 352,051.59 shares. Two option series total 21,000 underlying shares with strikes of $15.80 and $14.36, which are disclosed as direct holdings but not exercised. No material disposition or new derivative issuance is reported.

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

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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).

1. Name and Address of Reporting Person^*

LANDY MICHAEL P

(Last) (First) (Middle)

3499 ROUTE 9 NORTH

SUITE 3C

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/17/2025

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.	09/17/2025		A		1,243(1)	A	$15.08	352,051.59	D
UMH Properties, Inc.								0(2)	I	Account is C/F Daughter Monica
UMH Properties, Inc.								18,310.2	I	Account is C/F Son Aaron
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.	$15.8							01/10/2025	01/10/2034	UMH Properties, Inc.	11,000		11,000	D
UMH Properties, Inc.	$14.36							03/21/2024	03/21/2033	UMH Properties, Inc.	10,000		10,000	D

Explanation of Responses:

1. Stock award for Directors.

2. The reporting person no longer has a reportable beneficial interest in 62,698.64 shares of common stock owned by his daughter, which were previously held by the reporting person as custodian for his daughter and were included in the reporting person?s prior ownership reports.

	Nelli Madden	09/18/2025
	** 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.
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FAQ

What transaction did UMH insider Michael P. Landy report on Form 4?

The report shows a director stock award of 1,243 shares at an indicated price of $15.08, increasing his direct holdings to 352,051.59 shares.

Does Michael P. Landy still hold shares indirectly through family accounts?

Yes. The filing shows indirect holdings of 18,310.2 shares attributed to his son and 48,000 shares held via co-management of an LLC.

Were any custodial holdings removed from Landy's reported beneficial ownership?

Yes. He no longer has a reportable beneficial interest in 62,698.64 shares previously held as custodian for his daughter.

What derivative securities does the Form 4 disclose for UMH insiders?

Two option positions are disclosed totaling 21,000 underlying shares: 11,000 with a $15.80 exercise and 10,000 with a $14.36 exercise.

Does the Form 4 report any sales or exercises by the reporting person?

No. The filing reports an awarded acquisition and existing derivative holdings but does not report any sales or option exercises.