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

Rhea-AI Filing Summary

UMH Properties insider filing: Brett Taft, Executive Vice President and COO, reported a disposition of 135,779.15 common shares on 09/15/2025. The Form 4 shows Taft still holds multiple outstanding option grants exercisable between 2028 and 2035 totaling 394,000 underlying shares, and direct holdings that include 738.55 shares from dividend reinvestment and 9,093 shares held in a 401(k) as of 09/29/2025. The filing is signed by Nelli Madden on 10/02/2025. No transaction prices for the disposed non-derivative shares are reported in the Form 4 section for the sale.

Positive

• Retained long-term alignment: Executive retains 394,000 underlying option shares exercisable through 2035, indicating continued equity exposure
• Dividend reinvestment and retirement holdings: 738.55 shares from dividend reinvestment and 9,093 shares in a 401(k) remain held

Negative

• Large non-derivative disposition: Reported sale of 135,779.15 shares on 09/15/2025
• Sale price not disclosed: Form 4 does not report the transaction price for the disposed non-derivative shares, limiting assessment of proceeds

Insights

Securities Analyst

TL;DR: EVP/COO sold 135,779.15 shares; substantial option holdings remain exercisable through 2035.

The reported non-derivative disposition of 135,779.15 shares on 09/15/2025 is a clear insider sale by a senior executive, which may reflect personal liquidity decisions rather than company performance; the Form 4 does not disclose the sale price for that transaction. Taft retains significant equity exposure through numerous option grants totaling 394,000 underlying shares with exercise prices ranging from $9.70 to $23.81 and exercisable dates from 2028 through 2035, indicating ongoing alignment with long-term equity-based compensation. The filing also documents small incremental holdings from dividend reinvestment and a 401(k). For investors, the absence of price information for the reported disposition limits assessment of realized proceeds or tax-driven motives.

Corporate Governance Expert

TL;DR: Significant insider sale recorded; continued long-term option exposure remains.

The Form 4 shows a large reported sale by an executive officer, which governance reviews typically flag for context such as pre-arranged trading plans or diversification needs. The report includes detailed derivative positions—multiple option grants totaling 394,000 underlying shares with staggered exercise and expiration dates—suggesting retained long-term economic interest in UMH Properties. The filing does not state any 10b5-1 plan or other trading plan, nor does it provide sale price data for the non-derivative disposition, constraining evaluation of whether the sale followed an approved trading plan. Impact appears neutral absent additional surrounding disclosures.

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^*

Taft Brett

(Last) (First) (Middle)

3499 ROUTE 9 , 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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP and COO

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
UMH Properties, Inc.								135,779.15(1)	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
UMH Properties, Inc.	$15.66							03/26/2024	03/26/2034	UMH Properties, Inc.	50,000		50,000	D
UMH Properties, Inc.	$14.36							03/21/2024	03/21/2033	UMH Properties, Inc.	75,000		75,000	D
UMH Properties, Inc.	$23.81							03/28/2023	03/28/2032	UMH Properties, Inc.	39,000		39,000	D
UMH Properties, Inc.	$22.57							07/14/2022	07/14/2031	UMH Properties, Inc.	50,000		50,000	D
UMH Properties, Inc.	$9.7							03/25/2021	03/25/2030	UMH Properties, Inc.	50,000		50,000	D
UMH Properties, Inc.	$11.42							01/02/2020	01/02/2029	UMH Properties, Inc.	40,000		40,000	D
UMH Properties, Inc.	$13.09							04/02/2019	04/02/2028	UMH Properties, Inc.	20,000		20,000	D
UMH Properties, Inc.	$15.04							04/04/2018	04/04/2027	UMH Properties, Inc.	20,000		20,000	D
UMH Properties, Inc.	$16.86							06/16/2026	06/16/2035	UMH Properties, Inc.	50,000		50,000	D

Explanation of Responses:

1. Includes 738.55 shares acquired through dividend reinvestment on 9/15/25, and 9,093 shares held in 401(k) as of 9/29/25.

	Nelli Madden	10/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What did Brett Taft report on the UMH (UMH) Form 4 filed in October 2025?

The Form 4 reports a disposition of 135,779.15 UMH common shares on 09/15/2025 and lists multiple outstanding option grants totaling 394,000 underlying shares.

How many option shares does the reporting person still hold according to the filing?

The filing lists option grants that together underlie 394,000 shares with exercise prices from $9.70 to $23.81 and exercisable dates through 2035.

Are there any dividend or retirement holdings disclosed in the Form 4?

Yes; the explanation states 738.55 shares were acquired via dividend reinvestment on 09/15/2025 and 9,093 shares were held in a 401(k) as of 09/29/2025.

Does the Form 4 disclose the sale price for the 135,779.15 shares?

No; the Form 4 entry for the non-derivative disposition does not report a price for the sold shares.

What is Brett Taft's role at UMH described in the filing?

The Form 4 identifies Brett Taft as Executive Vice President and COO of UMH Properties.