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

Rhea-AI Filing Summary

UMH Properties director Stuart Levy received a director stock award and holds existing option positions. The Form 4 reports that on 09/17/2025 Mr. Levy acquired 1,243 shares at a price of $15.08 identified as a stock award for directors, bringing his reported beneficial ownership to 24,800.27 shares. The filing also lists three sets of outstanding options exercisable into common stock: 11,000 shares at $15.80 (exercisable 01/10/2025, expiring 01/10/2034), 10,000 shares at $14.36 (exercisable 03/21/2024, expiring 03/21/2033), and 12,000 shares at $16.86 (exercisable 06/16/2026, expiring 06/16/2035). The form is filed by one reporting person and is signed on 09/18/2025.

Positive

• Director stock award of 1,243 shares at $15.08 increases insider alignment with shareholders
• Full disclosure of outstanding options (33,000 underlying shares) provides transparency on potential future dilution

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Director stock award strengthens executive alignment with shareholders but appears routine.

The 1,243-share award to a director is consistent with standard board compensation practices that align director incentives with shareholder interests. The filing discloses substantial outstanding option positions totaling 33,000 underlying shares across three grants with varying strikes and expirations, which affects potential future dilution and director upside. This disclosure is routine and non-adverse, and it provides transparency on the director's equity exposure.

Securities Analyst

TL;DR: Transaction is a routine director award; the option portfolio creates potential future share issuance.

The acquisition of 1,243 shares at $15.08 is recorded as a director stock award rather than an open-market purchase, indicating compensation-driven issuance. The three option tranches (11,000; 10,000; 12,000 underlying shares) show strikes from $14.36 to $16.86 with expirations through 2035, which could lead to future option exercises depending on share price performance. From an investor perspective, this is material only as routine insider compensation and as a factor in potential future share count changes.

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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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^*

Levy Stuart

(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	24,800.27	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.	$15.8							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
UMH Properties, Inc.	$16.86							06/16/2026	06/16/2035	UMH Properties, Inc.	12,000		12,000	D

Explanation of Responses:

1. Stock award for Directors.

	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.
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 transaction did UMH director Stuart Levy report on Form 4?

The Form 4 reports that Stuart Levy acquired 1,243 shares on 09/17/2025 at a price of $15.08, recorded as a director stock award.

How many shares does Stuart Levy beneficially own after the reported transaction?

The filing reports beneficial ownership of 24,800.27 shares following the transaction.

What option positions does the Form 4 disclose for the reporting person?

The Form 4 lists three option tranches underlying 11,000, 10,000, and 12,000 shares with strikes of $15.80, $14.36, and $16.86 respectively and expirations in 2033, 2034, and 2035.

Was the Form 4 filed jointly or by a single reporting person?

The filing indicates it was filed by one reporting person.

What reason is given for the share acquisition?

The filing's explanation states the shares are a stock award for Directors.