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

Rhea-AI Filing Summary

Kenneth K. Quigley Jr., a director of UMH Properties, Inc. (UMH), reported a transaction on Form 4 showing a disposition of 36,894.52 shares on 09/15/2025. The filing also lists three derivative holdings (stock options) tied to UMH: 11,000 shares exercisable 01/10/2025 (strike $15.80, exp. 01/10/2034), 10,000 shares exercisable 03/21/2024 (strike $14.36, exp. 03/21/2033), and 12,000 shares exercisable 06/16/2026 (strike $16.86, exp. 06/16/2035).

The form identifies Quigley as a director and indicates the filing was made by one reporting person. An explanatory note states the reported figure includes 365.35 shares acquired through dividend reinvestment on 09/15/2025. The form bears a signature block showing Nelli Madden dated 10/02/2025.

Positive

• Disclosure completeness: The Form 4 provides transaction date, amount disposed, option details (strikes, exercisable dates, expirations) and an explanatory note about dividend reinvestment.
• Continued equity exposure: Reporting person retains derivative positions totaling 33,000 underlying shares (11,000 + 10,000 + 12,000), reflecting ongoing alignment with company equity.

Negative

• Large share disposition: A reported disposal of 36,894.52 shares on 09/15/2025 is a significant insider sale disclosed by a director.
• Potential clerical ambiguity: The explanatory note states the reported amount "includes 365.35 shares acquired through dividend reinvestment on 9/15/25," which could create confusion because the main line records a disposition; the form itself does not clarify the net position change.

Insights

Corporate Governance Analyst

Director reported a sizable sale while retaining multiple exercisable option positions.

The Form 4 shows a disposal of 36,894.52 shares by a director, which is a material insider sale in absolute terms for many REITs and could reflect portfolio trimming or other non-disclosed reasons; the filing itself does not state the motivation. The director still has multiple option positions totalling 33,000 underlying shares with varying strike prices and expirations, indicating ongoing equity-related compensation or exposure.

Securities Compliance Specialist

Filing appears complete as a single-person Form 4 and includes required disclosure elements.

The Form 4 identifies the reporting person, relationship to the issuer (director), transaction date (09/15/2025), the disposition amount, option holdings with strikes and expirations, and an explanatory note about a 365.35-share dividend reinvestment. The form is signed with a date (10/02/2025), meeting basic filing formalities; it does not include any amendments or additional contextual statements.

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^*

QUIGLEY KENNETH K JR

(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)
09/15/2025

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.								36,894.52(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.	$15.8							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. Includes 365.35 shares acquired through dividend reinvestment on 9/15/25.

	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.
* 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

Who filed the Form 4 for UMH (UMH)?

The reporting person named is Kenneth K. Quigley Jr., identified as a director of UMH Properties, Inc.

What insider transaction was reported on 09/15/2025 for UMH?

The Form 4 reports a disposition of 36,894.52 shares on 09/15/2025.

Does the Form 4 show any option or derivative holdings for the insider?

Yes. The filing lists three option positions underlying a total of 33,000 shares: 11,000 (strike $15.80, exercisable 01/10/2025, exp. 01/10/2034), 10,000 (strike $14.36, exercisable 03/21/2024, exp. 03/21/2033), and 12,000 (strike $16.86, exercisable 06/16/2026, exp. 06/16/2035).

Did the Form 4 include any dividend-related activity?

Yes. An explanation states the reported amount includes 365.35 shares acquired through dividend reinvestment on 09/15/2025.

When was the Form 4 signed and by whom?

The form shows a signature block with Nelli Madden dated 10/02/2025.