[Form 4] UMH Properties, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Form 4 Overview: Director Matthew I. Hirsch reported routine dividend-reinvestment transactions in UMH Properties, Inc. (UMH) common stock effective 06/16/2025.

• Non-derivative shares: 576.81 new shares were automatically acquired under the company’s dividend reinvestment plan (DRIP), lifting Mr. Hirsch’s direct holdings to 55,107.85 shares. His spouse received 61.16 DRIP shares, raising indirect holdings to 5,465.96.
• Derivative holdings: No option exercises or new grants were reported. The filing restates existing options: 11,000 options at $15.80 (exp. 01/10/2034), 10,000 at $14.36 (exp. 03/21/2033) and 12,000 at $16.86 (exp. 06/16/2035).
• Transaction code: The absence of a transaction code indicates the reported DRIP acquisitions are exempt from typical open-market codes and are considered automatic.
• Post-transaction ownership: Aggregate beneficial ownership equals approximately 60,574 common shares plus 33,000 stock options.

Investor takeaways: The filing reflects modest, non-discretionary share accumulation rather than an active purchase. Such DRIP activity signals continued shareholder alignment but is unlikely to materially affect market sentiment or valuation.

Positive

• Director adds 638 shares via dividend reinvestment, marginally increasing equity alignment with shareholders.

Negative

• No open-market purchase; the automatic and small-scale nature of the transaction limits its signaling value.

Insights

Securities Analyst

TL;DR: Routine DRIP shares added; no strategic signal or price impact expected.

The 638-share DRIP increase is de minimis relative to UMH’s ~55 million shares outstanding and does not alter insider ownership meaningfully. Because no open-market buying occurred, this Form 4 carries little informational value for momentum or governance screens. The reiteration of 33,000 long-dated options confirms existing equity incentives but introduces no new dilution risk. Overall impact on valuation models, liquidity, or float is negligible.

Corporate Governance Specialist

TL;DR: Filing shows ongoing insider alignment, but scale too small to influence governance assessments.

Automatic DRIP participation indicates the director maintains full dividend exposure and allows fractional share growth, aligning interests with ordinary shareholders. However, the absence of voluntary open-market purchases limits the strength of any positive governance signal. Option positions remain sizeable, incentivizing long-term performance but already disclosed in prior filings. I classify the event as not impactful for proxy voting or compensation risk considerations.

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^*

HIRSCH MATTHEW I

(Last) (First) (Middle)

3499 RT 9 NORTH

STE 3-C

(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)
06/16/2025

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.								55,107.85(1)	D
UMH Properties, Inc.								5,465.96(2)	I	Held by Spouse

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 576.81 shares acquired through dividend reinvestment on 6/16/25.

2. Includes 61.16 shares acquired through dividend reinvestment on 6/16/25.

	Nelli Madden	06/30/2025
	** 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

How many UMH shares does Director Matthew I. Hirsch now own?

He directly owns 55,107.85 shares and indirectly (spouse) 5,465.96, totaling about 60,574 shares.

What type of transaction was reported in the UMH Form 4 filed on 06/30/2025?

Only dividend reinvestment plan (DRIP) acquisitions dated 06/16/2025 were reported; no open-market trades occurred.

Did the filing disclose any new stock option grants to the director?

No. The form restated existing options (33,000 total) but reported no new grants or exercises.

Is this insider transaction likely to affect UMH’s share price?

Unlikely. The acquisition of 638 shares is immaterial relative to the company’s outstanding shares.

What is the significance of the missing transaction code in Table I?

The lack of a code indicates the shares were acquired automatically under the DRIP, exempting them from standard open-market codes.