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

Rhea-AI Filing Summary

UMH Properties, Inc. reported an insider sale by President and CEO Samuel A. Landy on 10/07/2025. The filing shows a sale of 20,000 shares at a price of $14.19, reducing his direct holdings to 1,054,568.25 shares. The report also lists various indirect holdings: 12,098.66 shares held by spouse, 41,338.5 shares held jointly with spouse, 50,060.12 shares in the Landy 2022 Family Trust, and 48,000 shares via co‑managed EWL Grandchildren Fund LLC. Several option grants remain outstanding with exercise prices between $14.25 and $15.04 and expiration dates through 03/21/2033. The form records the transaction as a sale and is signed on 10/08/2025.

Positive

• Substantial retained direct ownership: remains at 1,054,568.25 shares
• Diversified indirect holdings: spouse, family trust, and co‑managed fund positions listed

Negative

• Insider sale of 20,000 shares at $14.19 which may raise short‑term monitoring by investors
• Filing does not indicate a 10b5‑1 plan, leaving the timing of the sale unexplained in the form

Insights

Corporate Governance Analyst

CEO sold 20,000 UMH shares, retaining substantial direct and indirect holdings.

The filing shows a sale of 20,000 shares at $14.19 by the President and CEO on 10/07/2025, leaving him with over 1.05M direct shares plus multiple indirect positions held by family trusts and spouse. Such sales can be routine liquidity actions when meaningful residual ownership remains.

Key dependencies include whether the sale was part of a pre‑arranged plan and the cadence of future insider transactions; the form does not indicate a 10b5‑1 plan. Monitor subsequent Section 16 filings for patterns over the next 12 months.

Equity Trading Specialist

Transaction size is modest relative to total reported direct holdings.

The reported sale of 20,000 shares at $14.19 is explicit; option positions totalling 179,500 underlying shares (across listed grants) remain exercisable through 2033. The presence of multiple option grants with exercise prices near current market levels can influence future insider activity if exercised.

Trading impact is likely limited given the CEO's large residual stake, but investors may watch option exercise windows and any clustered sales reported in subsequent filings over the next 6–12 months.

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
Estimated average burden
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).

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^*

LANDY SAMUEL A

(Last) (First) (Middle)

3499 US HWY 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)

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

3. Date of Earliest Transaction (Month/Day/Year)
10/07/2025

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.	10/07/2025		S		20,000(1)	D	$14.19	1,054,568.25	D
UMH Properties, Inc.								12,098.66	I	Held by Spouse
UMH Properties, Inc.								41,338.5	I	Held with Spouse
UMH Properties, Inc.								50,060.12	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.

	Nelli Madden	10/08/2025
	** 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 UMH insider Samuel A. Landy report on Form 4?

The Form 4 shows a sale of 20,000 UMH shares at $14.19 on 10/07/2025, reducing his direct holdings to 1,054,568.25 shares.

Does the Form 4 show any indirect holdings for the UMH insider?

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

Are there outstanding options or derivative holdings disclosed?

Yes. Multiple option grants are listed with exercise prices of $14.36, $13.09, $15.04, and $14.25, and expirations through 03/21/2033.

Does the Form 4 indicate the sale was under a 10b5‑1 trading plan?

No. The check box for a 10b5‑1 plan is not indicated in the filing.

When was the Form 4 signed and filed?

The signature block shows the form signed on 10/08/2025.