Richard Aslanian - Jan 27, 2023 Form 4 Insider Report for FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY (FREVS)

Role: Director
Signature: /s/ Richard J. Aslanian
Stock symbol: FREVS
Transactions as of: Jan 27, 2023
Transactions value $: $0
Form type: 4
Date filed: 1/31/2023, 02:54 PM
Previous filing: Oct 14, 2022
Next filing: Mar 13, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FREVS	Common Stock, par value $0.01 per share	Other		+21.3K	+83.78%		46.7K	Jan 27, 2023	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Prior to the reincorporation of First Real Estate Investment Trust of New Jersey, Inc. ("FREIT") from a New Jersey real estate investment trust to a Maryland corporation on July 1, 2021, FREIT's equity securities were beneficial interests in FREIT that were designated as "shares" without par value. In connection with the reincorporation of FREIT as a Maryland corporation, FREIT's shares of beneficial interest were converted to shares of common stock, par value $0.01 per share, on a 1-for-1 basis.
F2	As disclosed in FREIT's filings with the Securities and Exchange Commission, on November 4, 2021, FREIT's Board of Directors approved the termination of FREIT's Amended and Restated Deferred Fee Plan. In connection with the termination of the Amended and Restated Deferred Fee Plan, all Share Units credited to each participant's account for the deferral of fees under the Amended and Restated Deferred Fee Plan were distributed to the participants as shares of FREIT's common stock, par value $0.01 per share. The filing of FREIT's Annual Report on Form 10-K for the fiscal year ended October 31, 2022 on January 27, 2023 served as notice of the execution of the distribution of such shares under the Amended and Restated Deferred Fee Plan to the reporting person.

Content

Prior to the reincorporation of First Real Estate Investment Trust of New Jersey, Inc. ("FREIT") from a New Jersey real estate investment trust to a Maryland corporation on July 1, 2021, FREIT's equity securities were beneficial interests in FREIT that were designated as "shares" without par value. In connection with the reincorporation of FREIT as a Maryland corporation, FREIT's shares of beneficial interest were converted to shares of common stock, par value $0.01 per share, on a 1-for-1 basis.

As disclosed in FREIT's filings with the Securities and Exchange Commission, on November 4, 2021, FREIT's Board of Directors approved the termination of FREIT's Amended and Restated Deferred Fee Plan. In connection with the termination of the Amended and Restated Deferred Fee Plan, all Share Units credited to each participant's account for the deferral of fees under the Amended and Restated Deferred Fee Plan were distributed to the participants as shares of FREIT's common stock, par value $0.01 per share. The filing of FREIT's Annual Report on Form 10-K for the fiscal year ended October 31, 2022 on January 27, 2023 served as notice of the execution of the distribution of such shares under the Amended and Restated Deferred Fee Plan to the reporting person.